Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1900-02-22
THE FINANCIAL BILL.
Thu Senate Substitute for the House
Measure Passed by 46 to 20.
ONLY Two AMENDMENTS ADOPTED.



Washington, Feb. l6.-The senate
substitute for the house currency bil'
was passed BY the senate yesterday
by the decisive majority OF 40 to ~
Prior 10 the final passage OF the bill
amendments were considered under
the ten-minutc rule. Only two OF
these amendments were adopted. VIZ
One offered by the finance committee,
keeping the door open 10 interna'
tiona bimcialism, and one by Mr.
Nelson, OF Minnesota providing for
national banks with S2j,OO0 capital in
towns of not more than 1000 inhab-
tants.
The vote taken on ihe various
amendments offered were practically
along party lines Senator Chandler
Crrp.), Of New hampshire, voted for
the hinetaIic amendment but against
thr bill. senator Gallery (dcm.), of
Louisiana. and SenatOr Lindsay
(dcm.). Of Kentucky. voted against
the committee amendment but for the
bill. Senator Kyle, OF South DakoHi,
was The only senator who did not
vote aud Wns not paired The irec
silver Suhsliutc offered by sena'of
Jones, he tender of the democratic
Side, wnG defeated by Il majority of
10, the vote being 4, to =.
The bin a. passed consists Of ron
sections lt.proydes that the dollar
of % $40 grains of gold nne-icnihs
fine, Shall be the standard unit ni
value and that all forms of United
States money shall be maintained at
u parity with it, and that treasury
notes and grcenbacks Shall be re-
deemable in gold. The secretary of
the treasury is to set apart a fund Of
Sl5O,OOO,OOO in gold for the redemption
OF these notes and to maintain this
fund at a figure not below SlOO,0OO,Oo0.
lie is empowered TO sell bonds of the
United States bearing interest at not
exceeding three per cent. 1T shall al
so be the duty of the secretary Of
the treasury as fast as standard sill
yer dollars are coined to retire mn
equal amount of the treasury notes
and TO issue silver certificates against
the silver 50 coined. Under certain
provisions too, gold certificates shall
be issued against the gold held in the
treasury. No United States notes or
treasury notes shall be issued in de-
nominations Of less than ten dollars
and no silver certificates in denom-
nations of more than ten dollars.
The secretary of the treasury is also
authorized to refund the bonded debt
OF the United States in 30-year bonds
bearing two per cent. interest, the
principal and interest of these bonds
to be paid in gold, The two per CEN.
bonds shall be issued at not less than
par Any national bank, by deposit
ing with the United States bonds of
this country, shall be permitted TO
issue circulating notes to the face
value of the bonds deposited, no bank
being allowed TO issue circulating
notes In excess of the amount of the
paid-in capital stock Of the bank.
After the passage of the financial
bill, the senate made the Hawaiian
government bill the unfinished bus.
mess.
The senate committee on inter
state commerce listened to an expo
Siton of the provisions of the bl''
for the amendment of the interstate
commerce law by Chairman Knapp
OF the interstate commerce commits
sion Mr.. Knapp stated that the
pending bill had moi been prepared
by the commission, but that the COM
mission Endorsed many of its provis-
ions. He said that the powers of the
commission were greatly circum-
scribed by the limitations of the ey-
isting law under the decisions of the
supreme court and that further leg
lslotlon was necessary to render The
law really effective,
The Legislative I'LL In tho House.