The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-17
Argument Against the Interna-
tional Bank.
DEFEATED IN THE HOUSE
A Measure Which Wes Urged by the
Pan-American Congress Ayes.
lo3; Noes. l4e -Tarr LAWS
for Hawaii.

Dank was Dufleu Dy an oNe1MnelnlnS
adverse majority OF the house to-day.
The debate upon the measure. which
opened yesterday. was closed to-day at
3 o'clock. Mr.. Dingley the floor leader
of the majority. made an argument in
its support. The other speakers to-day
were Hill of Connecticut. I'm it's sup
port and Messrs. Bell. pop. Colorado.
Sulzer. dem. New York. Maxwell. pop.
Nebraska. Maddox. dem. Georgia. and
Swanson. DEM. Virginia. in opposition.
The vote by which the bill was defeated
stood lO3 ayes to l4S noes. The bill To-
extend the customs ard revenue laws
Of the United states over the Hawaiian
islands was passed without opposition.
The bill, Mr.. Dingley explained. carried
with IL the civil service laws relating
To appointments I'm the customs and
revenue service in Hawaii.
Some miscellaneous business. inciud-
ing the passage of several minor pri-
vate bills. was disposed OF at the open
ing session Of the house to-day. De-
bate upon the bill 10 incorporate the
International American bank was then
resumed. Bell, pop. Colorado. opposed
the measure. He took the ground 10
was both unconstitutional and against
good public policy.
Sulzer. dem. New York. also antag-
onized the bill. claiming IL would create
gigantic monopoly. which would i'm
time regulate interest and exchange
rates. Barrett. rep, Massachusetts.
offered an amendment. which provided
that the powers granted under the bill
should be conferred on any national
bank which filed application with the
comptroller of the currency i'm conform
iiy with the general requirements Of
the bill Ridgely. pop. Kansas. offered
a substitute providing that the United
states should establish such a bank as
the bill created. and that the bank
should have a bank I'm every city and
town exceeding i'm population $500 aud
in every Central and South American
country where the United States had a
consular officer. such officer to be the
banks representative.
Mr.. Newlands. sill. Nevada said he
was in general sympathy with the DUR
pore of the bill. although he believed
that trade development with our South
American neighbors depended more up
ON facility Of transportation than faCil-
ity OF exchange.
AIR. Tawney. rep, Minnesota. gave
notice Of an amendment he should Of
fer empowering the directors To cstab-
lish eight branch Offices in the United
States.
Mr.. Dingley, the floor leader OF the
majority, said he had not had an opppr-
tunity To examine the details Of this
bill but he desired to present certain
facts I'm support OF the general PROPOSE
tion. A. a session of the pan-Ameri-
can congress. which he attended. the
South American delegates all recounted
the difficulties attending the trade with
the United States on account Of the fact
that merchants in their countries Were.
obliged to buy London exchange al a
cost OF about l per cent premium The
unanimous opinion expressed at that
session was that the establishment of
an international bank was necessary To
develop trade between North and South
America.
Mr.. Maddox. dem. Georgia. in oppos-
ing the bill. said 1t would create
money trust i'm all the large cities which
would crush out all smaller institutions.
The committee amendments We're
adopted. An amendment to reduce the
capital stock OF any international bank
authorized under the provision extend
ing the privilege OF the bank TO others
than those named i'm the bill from S.
600. 900 to 100000. was defeated. l06 To
107. After some further remarks by
Messrs. Maxwell. pop, Nebraska, and
Swanson. dem. Virginia. i'm opposition
to the bill, Mr. Hill. rep. Connecticut.
i'm charge OF the measure. closed the
debate. He argued that present facll-
ties OF exchange were totally made
quate and quoted statement Of our
minister to Brazil that our trade with
that country suffered an annual tr-
butte of 81 10000 He concluded with
q glowing appeal to the house to pass
the bill in the interest Of American
commerce and American industries
An amendment offered by Mr.. Crum-
packer. rep, Indiana. providing that
~ ffff. f.a..a
should be taxed the same az the prop
erty Of national banks. was adopt ID
The Barrett and Tawney amendments
were defeated. as was the Ridgeiy cub
sttute.
The vote on the final passage Of the
bill was taken by ayes and noes. The
vote resulted I'm the defeat of the D.ll.
ayes. l03: noes. las.
The senate amendments To the army
and navy deficiency bill were non-Con-
CURED i'm and the bill sent to confer
ence. Messrs. Cannon. Barney and
Sayres were appointed confeTees MT.
Dingley then called up the bill unani-
mously reported by the ways and
means committee yesterday to extend
the customs and internal revenue laws
over the Hawaiian Islands Mr. Ding
ley EXPLAINED the necessity for the int
mediate Massage Of the act in order 70
protect the revenues of the United
States.
Mr. Bailey. DEM. Texas. said that = =
own idea was that the customs and
revenue laws Of the United states were
extended over the Hawaiian Islands
when they were annexed. But the
annexation act specifically declared not.
He thought the declaration in t.iat act
was unconstitutional. As this bill sim
ply sought To do what he believed had
i'm fact been done by the act Of lnnexa-
tics. IL was proper that IL should pass
and pass promptly.
Mr.. McMillin. dem. Tennessee. used
the bill as text for some remarks ~
on the Dingley revenue law. in which
he ella med that the revenue provided
BY IL was insufficient To meet the ex-
penses Of the government
Mr. McRae. DEM. Arkansas offered
an amendment designed Ia extend all
the general laws of the United states