Omaha daily bee., 1903-03-02
REPORTS NEW FOWLER BILL
House Committee Urges Adoption OfFinanOe
Measure introduced Saturday.
SEEKS TocoNrNUE WORK AFTER SESSION
DalEelI Introduces Resolution Au-
thorisinR Joint Committee to sit
Late and Dispose of Conference
reports ~ Necessary.

AaNOIdulb ENDuII On Nu0 CuTItuCy Oil lnlIO-
duced yesterday by Representative Fowler.
In reporting the bill the committee says:
In addition to providing for the issue and
circulation Of national banknotes, the OBJ
ject of this measure is to Immediately put
back into circulation any money the gov
eminent may collect through its customs
receipts, as well as through its collections
from internal event
The available cash balance now in the
treasury is $222, ass, SIS. OF this amount
there Is now in national bank repositories
Sl5O,4I2,424, ieaVlng a net balance In the
treasury OF $n,9s4,4b4, The amount of
all purposes is S7l, 1894, asa, from which
amount. IL we deduct $780, 900 as a neces-
shall have only sci, S94,454 to meet the de-
mand on the treasury growing out of the
Panama transaction,, which Will call for
a9o;OOO,oo0 It is, therefore, evident that
either the government must at once call
for S2S, 100000 from the banks or, appro-
priating 100000 from the amount now
In the treasury, leave a working balance of
only about S22, 600, 900, which must be sup
plemented by collections from the various
Is brought up 10 $50, 900, 900 before an appro-
priation can be made for any other pur-
pose without infringing upon what has
generally been considered a proper working
balance. 1t is, therefore, evident that the
government will not have any additional
money to deposit with the national banks
In the next seven or eight months, If, in
deed, IL collects as much as 100000 .
within that time.
tine amount now deposited with natlOnal
banks is S143, III, SOS, for which the govern
ment holds government bonds as security
amounting to about S125, 1900 and about
S22, 000,0 600 of other bonds. M measure now
submitted provides that the government
may deposit any public money, including
this S14S,00Q,0OO, with national banks, in no
case exceeding in amount 70 per cent OF the
paid up and unimpaired capital of any ma
tionat bank without exacting government
or other bonds, but the government shall
have a first lien upon the assets of such
bank and shall receive interest on such de-
posits at the rate of 2 per cent per annum,
payable s~emi-annually on the first days of
1t will be seen that the effect of this pro-
vision will be within the next few months,
total amount of bonds now deposited to Sc
cure government deposits, viz, $l25, 900, 900 of
government bonds and $22,0O0,0oO of state
in addition thereto as security for such de-
poslts. The bonds so released may then be
their bond secured circulation, which will
undoubtedly be much needed during the
coming fall months.
fectly safe and hat IL the rate of interest
had been 2 per cent and the accounts were
brought down to date, the amount that the
government would have received during
the past twerty-four years had the bill
been in operation would have been nearly
5O,OO0,O 900, and the government would not
The government should cease to be a dis
turbfng factor in our business AFFAIRS. II
Wdb lliS ihObBh NldA HONGu YOUR commits
tee to fix the rate of interest instead of al.
owing II to become a variable quantity, "a
be increased or decreased at the pleasure OIL
the secretary, a circumstance that must
necessarily result In intense rivalry by
better criticism and constantly subject the
treasury to endless scandal.
The Payne bill was not called UP In the
committee today. The friends Of the new
Fowler bill will urge Its adoption instead
Of the Aldrich bill, should that measure
! anrao oxroH NEnpa fha aanafa oad oI.a ln.Aznl
Of the Payne bill.
Mr.. Fowler introduced a resolution to-
day providing a rule for consideration OF
the bill reported today. This resolution
was referred to the committee on rules.
Reports Alaskan Land Bill.
The conference committee on the Alas
kan homestead bill presented the house to-
day strikes out the senate provision pre-
venting the use of soldiers additional
homestead rights in Alaska, leaving the
law as 1t now exists. 1t limits the use OF
scrip to tracts not exceeding 160 acres
and reserves from such location along
navigable or other water tracts of not less
than eighty rods In width between such
entries. The amendment OF the senate as
10 Communication Of homesteads is so mod
flied that while homesteads Of $50 acres
may be taken, only 100 acres may be COM
muted. The senate amendment relative to
surveys is substantially accepted.
May LeEisIate After session.
A resolution introduced in the house to-
day by Representative Dalzell and referred
to the committee on rules provides for a
joint resolution to continue appropriations
in the event Of the failure of any Of the
supply bills to pass at this session. While
there is time within which to pass all the
appropriation bills under the conditions
now existing in the house. the conference
reports must be accepted in whole by that
branch.
1t is reported that there is a disposition
on the part Of the conferees on one or two
OF the appropriation bills not to yield, and
the aim OF the resolution introduced today
is to provide against the contingency OF q
disagreement OF any conference committee.
Representative shattuc, chairman OF the
immigration committee, introduced a res
olution for the consideration of the immi-
grafton bill introduced in the senate. An
other resolution introduced by Represent
alive Gibson of the house committee on
invalid pensions ~contemplates a rule for
the consideration OF pension bills amended
in the senate under which only a motion
to concur will be in order.
Day Ready to Take oath.
Judge William R. Day, who is to succeed
rived in Washington today. He expects
to take the oath of once tomorrow.