The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1895-01-31
THE FINANCIAL BI5,s. ,,,,,,, 20.

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~ Io-.ssass- 4Guch Amended Measure
.sSPii- - ithout Recommendation.
WASHINGTON, Jan. 31,-The administra-
ton banking bill will be reported to the
house from the committee on banking and
currency in a much amended form and
with a non-committal recommendation
that it will be considered. This conclusion
was reached after discussion lasting all
Gay yesterday, which developed lack OF
harmony on the part Of the Democrats of
the committee. The Republicans sup
ported the bill after securing several
amendments; indeed, most of the changes
made originated with the opposition. The
bill will be reported to the house Friday
with the presidents message, and as the
report will be neither for nor against it
every member has the privilege of filing
his views.
After thevarious amendments had been
disposed of in committee motion was
made that the Carlisle bill, with the state
bank clause eliminated, be substituted for
it. This was lost. A motion to report it
with the recommendation that it do not
pass was also lost, and the final motion
that it be reported without any recon-
mendation was carried.
The amendments which the committee
have recommended to the administration
bill are as follows:
The bonds which by the original bill
were payable fifty years after date are
made payable at the pleasure of the United
States after ten years from the date of
their issue, and are due fifty years after
date. The section which requires the le-
gal tender notes and treasury notes when
redeemed in gold to be cancelled and re-
issued is amended by adding proviso that
the amount of such United States notes
and treasury notes which may be can
celled and retired shall not exceed in the
aggregate an amount equal to the addi-
tional circulation taken out by national
banks after the passage Of this act.
Section of the act is amended by add
| ing the following: "And in lieu Of all ex-
listing taxes every association shall pay to
the treasury of the United States in the
months of January and July duty of
one-eighth of l per centum each half
year upon the average amount Of the notes
/ issued to it by the comptroller of the cur
rcncy." This amendment reduces the tax
| upon the circulation of national banks
! from 1 per cent per annum to one-fourth
| of per cent. per annum. The fourth sec
ton of the bill, which provides that ma
tional bank notes of less denomination
than $40 should be retired and cancelled
and an equal amount in denominations OF
$40 and upwards should be issued in theil
places, and that silver certificates now
outstanding larger than $40 should be re
tired and the silver certificates of denom
nations of less than $40 should be issued
in their stead was stricken out
Section B. which requires duties ON i'm
ports to be paid in gold coin only was
stricken out, and a section substituted
which provides that from and after July
l. 1895, 10 per cent of the cash reserve re
quired by law shall be kept in coin or coiT
certificates, and not less than half of sucf
: coin or coin certificates shall be in golC
coin or gold certificates.
Section was amended so as to provide
that so much of all laws and parts of law
as limit the amount of lawful money
which may be deposited during any calen
dar month for the purpose of withdrawing
national bank circulation, or prohibits
any national banking association from re
oeiying any increase of its circulation dur
ing yhe period of six months from the tint
Il shall have made any deposit of Lawful
money for the purpose of withdrawing III
circulation, be repealed
Chairman Springer will request the com
mittee on rules to report rule fixing
time for the debate, to begin on Monda!
next, and authorizing the chair at thu
close of debate to entertain amendments
or motions to substitute other bills, anC
, allow thirty minutes debate on eacl
amendment According to this plan tn,
, free silver men and other members will
financial plans will be enabled to secure
vote on their propositions.