The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-01-04
FINANCIAL BILL CHANGES.
Text Of Amendments Authorised TO
BE offered.

BE offered.
WASHINGTON, Jan. 3.-The Republic
On. members of the senate finance commit
tea authorized Senator Aldrich to present
amendments to the financial bill. winch
he offered in the senate today Inc nlost
i,,nortant relate to the greenbacks ana is
as follows: ~
After the word authority" on line 0.
page II, strike out remainder OIL sectIodi
and insert: And the god coin received
from the sale of SAID nds shail nIst pc
covered into the get-cl'al tuna Oh Tug
treasury and then, exchanged In the mai
ner hereinbefore provided, for an equal
amo,1nt of the .notes redeemed and held
for exchange and the United states notes
exchanged in accordance with the pro
visions of this section, snail. w va G COY "
provided by law, and the gold coin In the
reserve fund, together with the redeeM me-.
notes held for use as provided IN TINS
section; shall hail at sl nS S A'eeu tho
All of section is eliminated and the
following new section substituted:
"Section G. That the secretary OF the
treasury is hereby authorized TO recs.F -
at the treasury any OF the Outstanding
bonds OF the United states oeailig MI 1nt,, o
est at per cent per annum, pa Idles
Feb 1, 1904, and any bonds OF the OhlIea
States bearing interest at the Tale % 3do7
per cent per an IN, payaple July l. w.
ing interest at per cent per annu1a, pay
able Aug l, 1908, andsto issue IN excnahse
therefor an equal amount OF cOuPoit y.
registered bonds OF the UniIeo ot aoo ~
such form, as he may prescribe, In denom-
nations of $50 or any. multiple thereol,
bearing interest at the rate OF per ceilt
per annum, payable quarterly, such ponas
TO be PAYABLE at the pleasure OF the Unit
ed States after thirty years from the date
of their issues, said BONDS 10 pe payaple,
principal and interest In gold coin OF the
present standard value and to De eXempt
from the payment Of all taxes or duties
of the United States, as we'll as from
taxation in any form by or under state,
municipal or local authority, providing
that such outstanding bonds may be re-
I ceived in exchange, at Valuation nor
greater than their present worth, to yield
an income of "a per cent per annun, and
in consideration of the reduction OF the
interest efeeed dne IS as p the holds
ers of the outstanding bonds surrendered
for exchange, out of any money In the
treasury not otherwise appropriated, a
sum not greater than the difference be-
tween their present worth, computed as
aforesaid and their par value, and the
payments to be made hereunder shall be
held to be payments on account i 9 oa Inc ne
the Revised Statutes, and provided fur
thor, that the per cent bonds to be IS
sued under the provisions of this act
shall be issued at not less than par. and
they shall be numbered censecutiveiy In
the order Of their issues; when payment
is made, the last numbers issued shall be
first paid. and this order shall be fol;
lowed until all the bonds are paid: and
whenever any of the outstanding bonds
are called for payment interest thereon
shall cease three months after such CALL
Another amendment is to the second
section of the bill where it provides for
maintaining the gold reserve. The bill as
| reported made 1T the duty of the secre-
tary Of the treasurE TO maintain the gold
reserve at s10o, 600. 900, by the sale OF bonds.
The amendnent provides that when the
| reserve falls below that amount. it shall
be his duty to restore it to the maximum
Of s15o. 100000 .oe Id
It is stated BIZ meJHbers Of the commit
tee that the amendments are for the pur-
pose of makingftmors clear the intention
of the bill and TO leave no question as tie
the construction; Iof fhe law when enacted.