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
a number OF pension bills and listenini
to carefully prepared speech on tn
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 then
to those mentioned in the bill. Wher
| tie senate adjourned consideration OF
the bill was not concluded
During the consideration of the pen
sion calendar go bills were passed in 8;
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 summary court. 1t was passed
Mr.. Pritchard then addressed the
senate on the benefits of Republican
tariff legislation.
AZ Tie COHCluSlO1l OIL 1TllCndIQ )
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
of ~ ~. d. g A I,I1
iting the rate of interest to be charged
by the bank to 6 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
international 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
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
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 !
proposed bank might be in New York, |
and required it to be in Washing |
ton, D. c.
the provision enabling the 1
proposed bank to act as trustee in the |
of government, state or mu-
nicipal bonds.
At 4:35 p. m. the bill was laid aside |
the senate went into executive session
and soon afterwards adjourned.