The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-16
BUSY WITH THE BANK BILLS.
HOUSE ALSO PAYS ATTENTION TO
THE MERCHANT MARINE.

Resolution Calling for the State
ment and Accounting of "a Nation
al Banks Receiver PigeOn-HOIed.
MIR. Payne Calls Up the Bill to
Amend the Navigation Laws-Mr.
Terry Attacks the Present Policy
Toward the Merchant Marine.
Washington, Feb. 15.-In the House to-
day Mr.. Cooney, Dem, OF Missouri rising
to question of privilege, called attention
to the fact that a resolution of inquiry
introduced by him Dec. IA, calling upon
the Secretary of the Treasury for the
statement and accounting of the receiver
of the First National Bank of Sedalia
No, which was referred to the banking
and currency committee, had not been re-
ported back. Under the rules resolution
of inquiry not reported upon within seven
days is privileged.
After an explanation by Mr.. Johnson,
Rep, of Indiana, on behalf of the sub
committee of the banking and currency
committee he said action upon the reso-
luton had been delayed by peculiar cir
cumstances, and that he thought the sub
committee would report upon the resolu-
ton tomorrow.
Mr. Cooney withdrew a motion he had
entered to discharge the committee.
Mr. Payne. Rep, of New York, CHAIR
man of the committee on merchant ma
rine, called up the Senate bin to amend the
navigation laws of the United States. Mr..
Payne explained that the bill had been
prepared by the Treasury Department, and
was designed solely to protect our sea-
coast trade along the Pacific coast with
Alaska.
Mr.. Terry Dem, of Arkansas,
said the bill had a much broader scope
than appeared at first. 1t related TO the
entire coastwise trade of the United
States. He believed that this trade be-
longed to the United States. Our ship
ping laws were all antiquate1, but there
should be a general revision, not special
laws. Special laws, IN his opinion. sim
ply fostered the shipping trust. AS long
as American owners we're unable to place
the American flag over a foreign bLHt
vessel he was opposed to such bills as the
pending measure.
MIR. Dingley said the pending bill was
designed to carry out the traditional policy
of the government of restricting our coast
wise carrying trade to American vessels.
The bill was passed without division.
The committees We're then called.
Mr.. Updegraff, Rep of Iowa, from the
committee on judiciary, called up bill to
amend the act of 1857, relating TO the fees
of United States officers so as to correct
some existing abuses, and il was passed.
Mr.. Cox, Dem, of Tennessee, from~the
committee on banking and currency, call
al G1,att
mote the safety of national banks"
The bill provided that no national bank
shall make a loan to the president or any
other officer or employe of the bank until
such officer or employe has submitted the
proposition for the loan In writing to the
directors and IL has been approved by a
majority of them, and in no case shall the
loan exceed the amount permitted by law.
The report of the controller. Mr.. Cox said,
showed that 80 per cent. of the failures of
national banks were due to the appropriat-
ing or absorption of the banks funds by
its officers. a similar bill had twice pass
ed the House. and had once passed the
Senate with an amendment. The bill was
passed.
Constant discussion arose over a COM
uittee amendment striking out the word
directors" The directors as well as the
officers, were subject TO the restrictions
Of the measure in its original form, but
the committee recommended that direc-
tors be stricken out.
Mr. Johnson, Rep, of Indiana, Mr.
Cox. Mr.. Fitzgerald, Dem. of Mas.
sachusetts, and others thought the direct
ors Of a bank in regard to over-lrafts
should be on the same footing with the
officers The word directors" was retain
ed in the bill, and 1t was passed-G5 10 %.
Mr.. BAH, Dem, OF Texas, from
the committee on rivers and harbors. pre-.
scented a resolution calling upon the sec
rotary of War for an estimate Of she cost
of creating a channel 100 feet wide at the
mouth Of Double Bayou. Galveston Bay,
and 1t was adopted.
A bill presented by the committee on
merchant marine and fisheries was pass