The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-06-16
THE INTERNATIONAL BANK BILL
SOME AMENDMENTS MADE IN
THE SENATE.
Institution Will Not Be a Monopoly
and the Rate of Interest Is Linn
tied to Six Per Cent.

Washington, June 15.-After passing
number OF pension bills and listening
to carefully prepared speech on the
advantages of Republican tariff legis-
lation by Mr.. Pritchard of North Caro-
lima, the senate today resumed consid-
GRAFTON of the international bank bill
An amendment was accepted by the
committee extending the privileges OF
the measure to all citizens of the Unit
| ed States, instead of restricting them
to those mentioned in the bill. When
| the senate adjourned consideration of
/ the bill was not concluded.
During the consideration of the pen
sion calendar 80 bills were passed in SO
minutes. Among the bills passed was
one increasing the pension of Mrs.
Margaret Love Skerritt, widow of Rear
Admiral Skerritt, from $50 to $50 per
month.
Mr.. Cockrell of Missouri reported
from the military affairs committee a
bill to promote the administration of
justice in the army and asked for its
immediate consideration. The bill pro-
vldeS for the administration of justice
by a summary court. 1t was passed.
Mr.. Pritchard then addressed the
senate on the benefits of Republican
tariff legislation.
al Tie COICluSlO1l OIL
speech consideration on bills on the
general calendar was begun. Among
those passed were: To amend section
549S of the revised statutes, and to au-
thorize the appointment of a military
Storekeeper in the army.
At ? o'clock the unfinished business,
the bill to incorporate the international
bank, was laid before the senate, the
pending question being the amendment
off NV Dot 1@fA IoI1.
iting the rate of interest to be charged
by the bank to per cent.
Mr.. Mallory of Florida offered as an
additional section an amendment as
follows:
THAT the powers, rights, privileges,
obligations and duties conferred and
imposed by this act shall not be eX-
elusive, but shall be conferred and i'm
posed on any citizens of the United
States, similar in number to the per-
sons named in the first section of this
act, who, for the purpose of incorporat-
ing an international bank, shall take
the steps and follow the procedure
prescribed by this act to be taken and
followed by the persons named in the
first section hereof for the purpose Of
Incorporating the said international
American bank, and said citizens of the
United States shall have the right to
them seems best
Mr.. Mallory said his amendment
would prevent the proposed bank from
being a monopoly.
On behalf of the committee Mr.. For
aker accepted the amendment.
MIR. Gallery of Louisiana discussed
the measure from the standpoint of an
lawyer, and could find no
objection to it.
Mr.. Rawlins of Utah opposed the bill
Mr.. PettuS withdrew the amendment
he offered yesterday concerning the in
terest to be charged by the proposed I
bank, and offered in its stead the pro-
vision in the national banking law re-
lating to interest. Mr.. Foraker, on be- |
half of the committee, accepted the |
modified so that the bank |
might charge the usual interest /
charged in the state or states, country |
or countries where the bank may do /
business.
Mr.. Duncan antagonized the bill, |
even as amended and gave notice of |
an amendment striking out the pro-
vision that the principal offices of the !
bank might be in New York, |
and required it to be in Washing
ton, D. C.
Mr.. Pettus offered an amendment
the provision enabling the
bank to act as trustee in the
disposition of government, state or mu-
nicipal bonds.
At ABS p. m. the bill was laid aside,
he senate went into executive session
and soon afterwards adjourned.