The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-02-24
FINANCIAL BILL AGREED
Continued from First Pagel

rum L 4A"N ~5N't
present worth. computed as aforesaid, a nd
! thelr par value and the payments 10 : nc
| mace hel euncer shall be held TO paymef7
on account of the sinking fund created 10y
section 1884 Of the revised statutes; ana
provided further, that the two per cen
tum bonds to be issued under the provis-
ions CT this act shall be issued at not less
than par and they shall be numbered con
secutively in the order of their issue ana
when payment is made the last numbered
issued shall be first paid, and this order
shall be followed until al the bonds are
paid, and whenever any Of the outstand-
ing bones are called for payment interest
thereon shall cease three months after
such call; and there is hereby appropr-at-
ed out of any money in the treasury not
Otherwise appropriated 10 effect the eX-
changes of bonds provided for in this act,
a sum not exceeding ore-hfteenth of one
per centum OF the face value Of said
bonds. to pay the expense of preparing
and issuing the same and other expenses
incident thereto"
National Bank Notes.
Any national banking association depos-
iting with the United States treas
urer any United States bonds shall
receive therefor from the controller of the
currency circulating notes equal to the par
value of the bonds, and this shall extend
to any assoc iation now having bonds on
deposit to secure circulating notes, when
issue of such has been less than the par
value of the bonds. This, however, is not
to repeal the authority to require addi-
tional deposits of bonds or of lawful money
in case the market value of the bonds
so held falls below the par value of the
circulating notes. Not more than one
third of these circulating noses win be al
lowed to be issued in denominations of s.
and the total amount of Tie notes shall
not exceed the actually paid in capital
stock.
Two per centum bonds issued under this
act may be substituted for any of the
bonds deposited 10 secure circulation or 10
secure deposits OF pubic money 50 much
for the act of July 3 1882, as prohibits
any national bank, which deposits lawful
money in order 20 Withdraw it's notes,
from receiving any incr ease of its circu-
lation within six months of its deposit Of
lawful money, is repeal ed. avery ma
tional banking association having Fer
cent United States bonds on de post 10
secure its circula ting notes shah pay a
tax of one-fourth OF one per cenS. eacit
half year, upon the average amount Oh
such notes that base the per cent. bonds,
in lieu of existing taxes. The blmetaliic
provision follows:
Section u. The provisions of this act
are not INTENDED TO preclude the accom-
plishment of International bimetallism
whenever conditions shall make it eXpedi-
ent and pSae ticabie to secure the. same by
concurrent action of the leading CONNER
cial nations of the world and at a ratio
which shall imure permanence of relative
value between gold and silver"
The title of tlle act is to be; IAN act
to define and fix the standard of value
to maintain the parity of all forms of
money issued or coined by the United
States, to refund the public debt, and for
other purposes
;,l, ~ Oft Il IL
the Senate the conference report on the
financial bill.
An arrangement was effected whereby
some member of the Conference Commit
tee would on next Wednesday make a
statementccncefn ming the changes made by
the conferees and the next day the re-
port would be taken up for considera
ton.