The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-01-04
FINANCIAL BILL N SENATE.
AMENDMENTS INTRODUCED ny Az
THoRrTY OF COMMITTEE.
Pressnted Through the Chairman,
Senator Aldrich-The Most Inn
portant Relates to the Impound-
lag and Exchange OF Greenbaclxs.

WASHINGTON, Jan. 3.--The Repub-
lican members Of the senate finance COM
mittee authorized Senator Aldrich to pre-
sent the amendments to the financial Dill
which he offered In the senate today.
The most important relate to greenbacks.
and II as follows:
After the word authority, on line g..
page ~. strike out remainder OF section
and insert: And the gold coin received
from the sale Of said bonds shall first be
covered into the general fund Of the treas
pry and then exchanged In the manner manner
of notes redeemed and held for exchange;
and United States notes, exchanged IN
accordance with the provisions OF this
ury. be reissied. as now provided by law,
together with the redeemed notes held for
use as provided in this section, shall at
NO time exceed the maximum sum Of
Ali Of section Is eliminated and the
Ths sect tSe Of the
treasury II hereby authorized to receive at
the treasury any OF the outstanding bonds
Of the United States bearing interest At at
/, 1904. and any bonds Of the United States
bearing interest at the rate Of 4 per cent.
Per Peril snnp ny payable sHiy ls and any
August /, 1908, and to issue in exchange
therefor an equal amount OF coupon or
such form as he may prescribe, in de-
nominations OF $50 or any multiple there
Of. bearing interest at the rate Of . per
bonds to be payable at the pleasure Of the
United States after thirty years from
the date OF their issue, and said bonds
shall o,d Pc Rays;cs ana
and be exempt from payment Of all taxes
on duties In the United States, as well as
from taxation in any form by or under
ed, that such outstanding bonds may be re-
ceived in exchange at a valuation not
greater than their present worth. to yield
in confederation q 81 the reduction OF inter-
est effected the secretary OF the treasury
Is authorized to pay to holders of out
out OF any money in the treasury not
otherwise appropriated. sum not greater
than the difference between the present
worth, computed as aforesaid. ana their
par value and payments to be made there
under shall be held to be payments on
account Of the sinking fund created by
section Section sss4 Of the Revised Rev. Statutes; and
bonds to be issued under the provisions
Of this act shall be issued at not less than
par. and they shall be numbered con-
when payment is made the last numbers
issued shall be first paid. and this order
shall be followed until all the bonds are
pau, anu whichever any OF tIe OutStduu-
Ing bonds are called for payment, inter-
est thereon shall cease three months
after such CALI
The Gold Reserve.
Another amendment is to the second
section OF the bill. where 1t provides for
maintaining the gold reserve. The bill,
as reported. made 1t the duty of the Sec
rotary of the treasury to maintain the
gold reserve at $100, 900 by the sale of
bonds. The amendment provides that
vvl, m fu1 q ho nj mt
1t shall be his duty to restore Il to the
maximum of $160, .000
1t IL stated by members OF the COM
mittee that the amendments are for the
purpose of making more clear the inten-
ton Of the bill and to leave no question
as to thes construction of the law when