The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1899-12-09
NEW CURRENCY BILL.
Synopsis oI Nnr 10 ne susnstttc& GO
Congress - Has Cold cor
the nasis.

Washington. Nov. - After arandln1
many months in SIS pTcpl -AtlOr. y, ~
publican caucus committee hts nrNE rrN
lie the financial hNl NJ - p El'. p'H r"r
gress TO pass. Under - y 2'ceDu'"' . lsv
gold is 10 be the S:kgN8E~E .s# 49, go ~ri
the basis OF the cas.rr rnans, aa.5''r
the United States : % 'Srt : f7se hHrht
are to - payable lT Eg1% Erl 81 n'aan
tions, public ar+ g,:s'tuh aa- D" ni,"u'"t
OF money shan - aSta % sa,lh
4 division = - - rss'tN, ,lt0t r. r.
treasury GcUAgsTzsgt ',g -, ,''''f pee ~
dcurt.ur @ I've ~Trs-EI t.u'> 1 hN
State fra-yN Tau CDig ,grtV lfa4
thss .-Ntr.rr q g. 81. rs D -t..rlH tlat lu'-
essay 10 $50 fssssE AZ slCav WE H'I#
ho-2s
~ .:ra 5 a.ss .rguss asr,Ji.v f,sse tFef
silver ty-E at-alss. s1sG .rlnuil'r,i p :.sNl
Arv 3 - r.u4 - .}u Nv a.HI tn s,+N ti.
~ s-rgasr asst g,Ia sg& isiti ~ = ~ -
ca ~ c-r goal
TIE s.Egyr sglgHg1 gGIrht 'gH aGaF- s'~
SNv-tn4- Egg Iai sl,1 1sjl HF .ae arrests p
Il 20 Ns GvINlJ1,s svr LHe ssl-3As% s sr2-
50 q y sL1yE- S@a1s.
Wen a-d u-currv7s salisbury si,ve-
ycsrs arv % h. -scCirv,t Crcui Js-nS - ;sulFr
a. "a teCUE1ss rscsss1ry, ara TIE leSal l''u-
Hat.1r Of SSJ.aN.ttc placed en- sGCh courage
Is TO - removed.
The denominations OF future issues of
United States notes or treasury notes are
to h. determined by the secretary or the
treasury, but silver certificates snail be
issued only In denominations Of 81, 81 and s..
National banks are 10 be permitted to
issue their notes up to the par value or
the bonds deposited by them to secure
circulation. ..".. .-.. A..
The tax on national bank notes Is to be
repealed and the banks are to pay tax
or onc-ffth OF one per cent. on the aggre-
gate of their capital. surplus and undi-
vided profits.
Authority Is TO bc granted TO organize
national banks with 5000 capital In towns
with population Of not more than $1,000
The members OF the committee consider
the definite enactment Of the gold standard
and the provision for the redemption OF
all other forms OF metallic and paper money
in gold on demand the most important fea-
lures of their measure. The main purpose
which they had in view was TO take from
a secretary Of the treasury the power to
change the financial basis by "a depart
mcnt ruling and to make such change
possible only by the concurrence OF ma
joritcs of both houses OF congress and the
president.
The authars OF the bill are the follow
ing congrcssmcn: ID. Ii. Henderson, OF
Iowa: s. T.. Payne, OF New York: John
Dalzcil. OF Pennsylvania; Jesse Overstreet
OF Indiana; w. S. Kerr, of Ohio; J. W.
Babcock, of Wisconsin; Page Morris of
Minnesota; william G. Lowering, OF Mas
sachusetts: Eugene +. Loud, of Califor-
mia: Charles Curtis. OF Kansas, and r. b.
JIawley. OF Texas.
The men who drafted the currency bill
compose n caucus committee appointed UNI
der authority OF the last session OF con-
grcss for the purpose of considering mon
etary legislation and making recommend
atoms. The bill cmbodies the unanimous
views OF the committee. Col Henderson
was chairman and Jesse Oyerstreet secre-
tsry OF the committee.