The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-06-14

81 want the Senator's words to embooy
the absolute facts said Mr.. Pasco hotly.
well, decline, replied MIR. Chandler,
ITO permit the Senator to put the WORDS
| into my mouth. "
81 desire to say thep," said Mr.. Pasco.
that any statement that was an agent
| in the deception of the Senate in this
Senator from New Hampshire knows 1t.
Wen, Mr.. President, declared Mr.
Chandler, 1.-THE truth is the exact opposite
OF that statement
mir. Tillman of South Carolina did not
nelleve that the money ought TO Do re-
turned to the government, as the clam
was primarily just one, but declared
that the Methodist church ought to
make Stalhem disgorxe"
The resolution was further discussed by
MT. Teller of Colorado, Mr.. Morgan OF
Alabama, Mr. Berry, of Arkansas, and
MIR. Wilson, of Washington.
1t finally went over until tomorrow.
MIR: Foraker of Ohio, then called up the
bill for the incorporation of an inter.
ational American bank. He stated that
the bill was one of the recommendations
of the Pan-American Congress. The
principal advantage that would be derived
| from the bank was that it would enable
| the United States to transact business
directly with the South and Central
American states, instead of being com
PEELED to do the business by means OF
Liverpool exchange as at present.
| Mr.. Pettus opposed the bill on the
ground that it did not authorize the states
to levy any tax upon the proposed bank.
Mr.. Foraker consented to amend the
Dill SO as to make it conform to Mr..
Pettus' objection providing for taxation
I OF the banks stock as personal property.
Mr: CaIery made the point that o
naUlonal charter was not necessary for the
proposed bank and said that state might
grant such charter as we'll as the federal
gov eminent.
Mr.. Foraker replied that national
charter would facilitate the establishing
OF branches in other countries. Mr.
Foraker admitted that the bank would
enjoy some advantages over other national
banks. Still he thought that the charter
should be granted as an instrument re-
quired for the conduct Of the business Of
the United States with other American
countries. Section 20 OF the bill was
made to read by a committee amendment
as follows:
"That the property of said corporation
shall be subjeot to taxation of any state,
municipal or any other authority having
jurisdiction thereof within ssthe United
States the same as other like property
and the several stockholders shall be
liable to assessment and taxation on the
shares held by them at their respective
places of residence according to the true
value thereof, to the same extent and in
the same manner as other personal
property is there assessed and taxed.
Mr.. Morgan of Alabama supported the
measure. He showed that exchange was
conducted between the United States and
South and Central American countries
through the Bank of England because
this country had no such institution as
the bank of England or the Bank OF
France, banks that in way represented
the government. +Si
MIR. Morgan suggested an amendment
providing that branches of the bank
might be established in the countries
which the United States should occupy
by peaceful invasion, annexation or force
of arms.
Mr.. Caffrey of Louisiana. said he was
in thorough accord with the general
scope of the bill.
At the conclusion of Mr.. Caffery's re-
marks, Mr.. Frye Of Maine, favorably re-
ported from the committee on commerce
a bill to provide American registry for
the steamers Unionist and Specialist. The
bill was passed.
The Senate then at 4. 30 p. m., went in
to executive session and afterwards ad-
journed.