The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1899-12-07
House Financial Bill
Endorsed.
Some Minor amendments Are
Adopted.
Debate On Bill To Begin
Monday.
Vote viii Probably BE Reached
Before End of Week.

Washin gton. December 6.-The Republic
tstives gave their unanimous approval
today to the House financial bill recent
ly introduced end recommended Its i'm
mediate consideration and passage. This
was accomplished at this oarc1s held In
the hall Of thu House during tbs fore
neon BY the adoption OF the following
resolution:
bill to define and liz the standard of
value, to maintain the parity Of all FERNS
OF money issued and coined BY the u nit
ed States and OF other purposes, and the
same Is hereby approved and Its imme-
dinte consideration by the House and pas
sage altar reasonable dsbit, Is recon-
mended and urged"
In pursuance Of this resolution. Mr..
Overstrset. of Indiana who introduced
this bill, and rs In general charge Of 1t.
will tomorrow submit resolution ask
ing that a special rule be reported for the
i'm mediate consideration Of this measure
The terms OF this special uie are practi-
cally agreed upon and provide that the
debate shall bs, ain next Monday with q
anal vote at tns cles, OF tbs week. The
unanimous approval given to the bill
came altar two hours of discussion and
the adoption Of two Amendments APP
proved by the trainers d the bill. when
the meeting began Mr.. Cannon of Illinois
sure N dsred the chair to Mr.. Hepburn Of
Iowa, In order to press n his views on
some modihcatiaps he thought desirable.
These related 20 the national banking
features of the bill, and MIR. Cannon gave
it az his individual opinion that this
branch of ths suhjsct might better be
modified or omitted. He distinctly stated,
however, that he supported the bill as
who 10 snd would vote fer 10, and this
was further shown vixen he voted for
the RESOLUTION OF approval
Mr. Cannon's suggestions did not tnke
the form OF amendments and ware not
pre- ssd.
The main amendment wss proposed by
the trainers Of the bill {, clear up some
ambiguity of the present law.
1t is to be new section. numbered 0,
and is ss follows:
Section 9-Thst section 10 Of an act APP
proved July IL, 1854, entitled an act to
enable national banking associations to
extend their corporate existence be, and
the same Is amended 90 as to read as fol
lows:
"Se,tion l0-That upo, . deposit of
bonds as described In seotion 5159 ana $3.50
of the Revised Statutes, the association
making the same shall be entitled to re-
ceivs from the comptroller Of the ourren-
cy circulating notes Of different denomi
nation in blank, registered and counter
signed az provided by law, not exceeding
the par vnlus of the US. bonds so trans
fsrred and delivered and at no time shall
the total amount of such note issusa to
any such association exceed the amount
at such time paid In of its capital stock;
and the provisions Of 517l and 5l76 Of the
Revised Statutes are hereby repealed"
Another amendment Is to section OF
the hill, inserting the word "rsdemp-
that our redeemed notes and certificates
are to be held.
Mr.. Warner of Illinois offered an amend
ment relating to that feature known rs
the impounhing of the green backs. but
he was satisfied from examination that
the amendment was not essential and 1t
was withdrawn. There were some other
suggestions and tentative amendments,
nut mons Of them wera pressed, and the
resolution of approval was then unan,-
mously adopted.
MIR. OvarsJreet and his associates who
framed the bill, were warmly c,ngratu-
latsd on having tesn able to oomman1
such complsts unanimity and approval,
which is regarded as giving assurance
that the bill will be piased before the
Christmas recess.