The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-03-14
A Little Drib Added by the Ma
tiOnal Bank Bill
Permitting the National Banks
to Issue Notes
UP TO THE PAR VALUE
Of the Bonds Deposited in the
United States Treasury.
Congressman Calderhead of
Kansas Favors the Bill.

From the State Journals Special Correspondent
WASHINGTON, March 14.-Congress-
man Caldrhead of Kansas was one of the
majority of the house committee on
banking and currency which reported
the bill introduced by Mr.. johnson of
Indiana to permit national banks to issue
notes to the full amount of the par value
of the bonds deposited by them in the
treasury as security for their issue of
notes.
The vote to support the bill was to
5. Those for it were: Republicans,
Johnson of Indiana. McCIeary of Mime
sofa. Fowlersof New Jersey, La Fevre of
New York, Calderhead of Kansas, Hill of
Connecticut and Cooke of Illinois,
Opposed-Republic Walker of
Massachusetts and Spalding of Michi-
gan; Democrats, Cox of Tennessee and
Black of Georgia; silverite, Ne wlands of
Nevada.
Cobbs of Alabama and Hendricks of
Kentucky, Democrats, refrained from
voting.
Mr.. Calderhead has several times ex-
pressed himself in favor of increasing
the volume of the currency in this way.
He has been supporter of this bill and
opposed to the complex scheme of the
chairman of the committee, Mr.. Walker,
which was not reported.
The Johnson bill is short and simple
in its provisions. 1t is as follows:
That upon deposits by national bank
ing associations of United States bonds,
bearing interest as provided by law uu-
der the provisions of sections 5, l59 and
5, 100 of the revised statutes, such asso-
Citations shall be entitled to receive from
the comptroller of currency circulating
notes of different denominations in blank,
registered and countersgned as provid-
ed by existing law, equal in face
value to the full par value of
the bonds so deposited; and national
banking associations now having bonds
on deposit for the security of circulating
notes less in face value than the par
value of the bonds, or which may here
after have such bonds on deposit shall
be entitled, upon due application to the
comptroller of. the currency, to receive
additional circulating notes in blank to
an amount which will increase the aggre-
gate value of the circulating notes held
by such associations to the par value of
the bonds deposited, such additional notes
to be held and treated in the same way
as circulating notes of national banking
associations heretofore issued, and sub
ject TO all the provisions of existing law
affecting such notes.
"Provided, that nothing herein con-
tanned shall be construed to modify or re-
5,171 of the revised statutes, authorizing
the comptroller of the currency to require
additional deposits of bonds or of lawful
money in case the market value of the
bonds held to secure the circulating
notes shall fall below the par value of
the circulating notes outstanding for
which such bonds may be deposited as
security"
1T WAS FREDERICK IN CONGRESS
And Not God in the COnstitution That In
terestsd Him just Then.
From the State Journals Special Correspondent
WASHINGTON. March 14.-Congress-
man Broderlck doesn't often let any
thing ruff1e his even disposition, but he
had a disappointment the other day
which was too much for him. 1t was on
the day his congressional convention
was being held, SO he was anxiously
awaiting a telegram to tell him what
was being done.
There has never been any danger of
his not being renominated of course, but
naturally he wished to hear from the
convention.
1t was late in the afternoon aud he was
sitting at his desk in the house when
page came and laid a telegram before
him. OF course it was from the conven-
ton and he tore it open eagerly.
Glaucing at it he saw not news from
Leavenworth, but an urgent appeal for
him to support the amendment to put
God in the constitution.