Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1899-01-26
GQLR.sT ANDARD.
Measurs Fix}as 1t as Basis for Ont
MoKetaET System Favored
by H0use Committee.

5 WasAlngtoas Jan. 22.-The house
coinage, weights and measures commit
tee by strict party vote ordered ia
vorable report on the substitute for
Representative Hills bill to fix the
standard of value in the United. States
and for other purposes The bill is
supplementary to the, currency reform
BILL, which IS Still being fought over in
the committee on banking and cur
|, rsney sissthe first gereral bill hich
has gotten out Of the coinage, weights
and measures committee in several
years. It is the result of great deal
of labor and many hearings. Mr.. Bland
offered a substitute for the single gold
standard featufes pfs lie. ;bilf providing
for free timetable .coihdgesand it was
voted down, 6 to*s9 a strict party vote.
The committee then directed the chair
man, Mr.. C. w. Stone, of Pennsylvania,
to call up and press. the bill al. the ear
Indispensable mehent ;and TO EMPLOYEE
that end any possible parliamentary ex-
pedient As synopsis Of the measure
favored by the committee follows: &:
The ibilI provides in substance that the
snall be the gold dollar, tha t all contracts
existing and in the future Shall be COM
puIeQ IN reference to- the standard that
there shall be established ih-the treasury
department of issue and redemption, that
the greenbacks shall be retired, and upon
retirement that gold bills shall be sub
ltst1tuted therefor. ~
+ NO silver dollars are to be hereafter
coined except from :bullionss now in the
treasury; the secretary of the treasury in
his discretion to coin silver into subsidiary
coin as public: urgency demands; and the
recoinage Of old, worn, uncurrent subsidi-
airy coin without, special. appropriation
therefor; such coinage Of bullion to be
concurrent with the retirement of treasury
notes the same as If coined into~silver dol
lars, and the coinage Of such subsidiary
coin not to be limited to $50, O00. 600.
= There is to be q separation of treasury
accounts between issue and financial
transactions: a gold reserve of Is per cent,
OF outstanding notes and treasury notes is
to be maintained, also five per cent. gold re-
serve OF the aggregate silver dollars; a
common fund for the redemption of all
notes. l.--
/ The. retirement Of the greenbacks pro-
Fvision Is, for the first five years, n amount
equal to the increase of national bank notes
issued subsequent to the taking effect OF
the act, ~ per cent. to be retired annually
during the next five years, and greenbacks
/ to cease to be legal tender at the end of
ten years. Gold and currency certificates
to be Cancelled as paid and not reissued; no
| national bank notes under SO and no silver
| certificates over S. are to be issued The
tax on national banks is to be changed
from the circulation to one-tenth of one
per cent. on capital. surplus and undi-
vided profits. '"Ff SO.
The bill repeats, all existing regula tons
on the withdrawal and issue of national
bank notes at will; banks may issue notes
! to the full value of bonds deposited Ma
| tional banks with a capital of $4,000 a nd in
cities of 1000 population may be estab-
lished; branch banks may be provided I'M
der regulations Of the controller of the
ga,se-