New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-01-04
CHANGES IN CURRENCY BILL.
CAN MEMBERS OF THE FINANCE
COMMITTEE

Washington. JAN 2-The Republican members OF
the Senate Finance Committee to-day authorized
Senator Aldrich to present amendments to the
financial bill which he offered in the Senate The
most important relates to the greenbacks. and Is
follows:
out remainder of section and insert And the
gold coin received from the sale OF said bonds shall
ury and then exchanged. in the manner herein
redeemed redeem and held for Exchange, and the United
States notes exchanged in accordance with the
the Treasury be reissued as now provided by law.
he redee@ed notes hed for use in this
section. shall at no time exceed the maximum sum
of $50 100000.
All of Section is eliminated and the following
section substituted:
Section That the Secretary Of the Treasury is
hereby authorized TO receive at the Treasury any
OF the IN bonds OF n se
February l. 1904. and any bonds OF the United
per annnm. payable on July i. 1907 and any bonds
Of the United States bearing interest at per cent
per annum. payable on August l. 1908 and to issue
or TeSistersd bonds Of the Tntea States in such
form as he may prescribe, in denominations of $50
any multiple thereof bearing interest at the
such bonds to be PAYABLE at the pleasure OF the
United States after thirty years from the date OF
and interest. in gold coin of the present standard
taxes or duties Of the United States as well
from taxation in any form by under State. mu-
Standing aip bonds may be received in exchange at
valuation not greater than their present worth
yield income of pa per cent per annum ana
in consideration OF the reduction OF interest eff,
to pay to the holders Of the outstanding bonds
rendered for exchange out of any money in the
greater than the difference between their present
worth computed as or and tne par sbs be-
held to be payments on account OF tne s sta
utes: and provided further. that the per cent
bonds TO be issued under the provisions Of TINS
shall be numbered consecutvely In the order OF
. s:u sn aSd .a be psd nd
shall be followed until all the bonds are paid ana
for payment interest thereon Shall cease three
months after such call.
Another amendment is to the second section OF
the BILL where II provides for maintaining the gold
reserve The bill reported made 1t the duty
Of the Secretary OF the Treasury to maintain the
gold at N0o.0oo000 by the sale OF bonds
The amendment provides that when the reserve
falls below that amount it shall be his duty to re-
store 1t to the maximum of S500Oo.OO
II is said by members OF the committee that the
amendments for the purpose az making the in
tention of the bill more clear and leaving ques-
ton to the construction of the law when en-
acted
to the bin, adding two sections. follows:
Section 9. That, in accordance with the act Of
Of s9 81 6 Il is hereby Teamed and declared
to be the existing policy OF the United states TO
ard money. and to coin both gold and silver into
money of equal intrinsic and exchangeable value.
such equality to be secured through International
agreement or by such safeguards of legislation as
will insure the maintenance of the parity in value
OF the of the two metals and the equal power
of every dollar all times IN the markets and In
the payment of debts: and IL is further declared
that the efforts OF Government should be stead
lily directed to the establishment of such a safe
system Of bimetallsm as will maintain at all tunes
the equal power of every dollar coined or issued
by the United States in the markets and in the pay
ment OF debts
Sec 10. That the provisions of the act of March
8 1897 authorizing the President to appoint com
mfssioners to any international conference called
by the United States or any other country, with a
view to securing by international agreement a
fxty of relative value between gold and silver as
money by means of common ratio between these
metals, with free mintage at such ratio. BE- ana
the same hereby. re-enacted and continued In
force.