Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1897-12-02
FINANCE MEASURES.
Many Banking and Currency Bills
to Come Up in the House.
ALL ESTIMATES BEING REDUCED
President Mckinley Recommends the
Trimming Process for Coming ExpendI-
lures and Ia Against Legislation
Authorizing Gold Bonds.

WASHINGTON, Nov. 29.-Important
bills before the house banking and
currency committee will come up at
the next session. Mr.. Walker, of Mas
sachusetts, chairman of the committee,
is the author of several bills. One OF
them proposes to secure the people
the advantages accruing from the
issue OF circulating promissory notes
by banks, to increase the volume of
such notes, and to supervise and con-
troll banks by officers of the United
States" Another is ''to call in and
cancel the paper money now injuring
the prosperity of the country" A
third proposes Ito modify the
national banking laws so as to
provide the people with safe,
ample, elastic and cheap currency" A
fourth is ito so change the ma
tional bank act as to secure
to the people in all sections of
the country an equal opportu-
nifty to freely use paper money" Mr..
Brosius of Pennsylvania, is the au-
thor of two bills, one of which has
been the subject of considerable favor
able comment in congress heretofore.
This proposes to provide for the organ
ization of national banks in towns of
not exceeding 5000 inhabitants. The
other is to increase the circulation of
national banks and to promote a re-
demption of legal tender and United
States treasury notes. Mr.. Hill has
introduced a bill to increase the circu.
lation of national banks, while Mr.
Cox, OF Tennessee, wants to repeal the
tax on state banks and state bank as
sociations.
ALL ESTIMATES BEING REDUCED.
WASHINGTON, Nov. 30. - President
Mckinley has, it is said, directed Sec
Rotary Gage to scale all estimates of
expenditure to the lowest limit.
Recommendations for new battleships
have passed under the blue pencil, and
instead of asking for three, Secretary
Long asked for but one. The estimates
of other departments have cut to the
bone, it being the hope of the execu-
tive to run through the fiscal year
without the necessity of bond issue.
1t is customary for the various depart
ments to submit their estimates of ex-
penditures for the ensuing year to the
secretary of the treasury by October l,
but Secretary Gage has not all of the
estimates in hand. Most of the de-
partments submitted their rough
estimates at the appointed time,
but their total was so large
that President Mckinley is said
to have given orders to con-
slider none of them until all had been
put through the trimming process. 1t
is said with good authority that the
original estimates aggregated S44O,-
100000, which was $40, 900, 900 in excess
of estimates submitted for the fiscal
year 1897. The actual appropriations
made by congress footed $432, 421, 900
and the deficit is now something like
$4,000, 900 and is growing. The postal
deficit of $11,OOO,OOO will be swelled
5000, 900 for carrying the mail over the
Pacific railroad, which sum was last
year simply charged up to the govern
ments Indebtedness Transporting
army supplies and troops over the same
lines will cost 100000. Expenses in
Alaska are greatly increased and will
require immediate payment
AGAINST GOLD BONDS.
WASHINGTON, Nov. 29.-Great inter-
est has been aroused in that part of
the presidents message relating to the
money question. At the last cabinet
meeting it was made known that the
president does not think best to recon-
mend to congress legislation authoriz-
ing gold bonds. Intimation was also
given of an intention to hold out hope
of ultimate success for international
and to advise continued
efforts in that direction. There is no
of the presidents inclina-
ton. Friends of Secretary Gage say
that he has tried to bring the presi-
dent to his way of thinking, but has
been unable to get him to recommend
gold bonds,