The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-02-24
MANY SPEECHES
IN THE SENATE
The Agricultural Appropriation
Bill Received Great Con
sideration.
CURRENCY BILL CALLED UP
------- -------------
CURRENCY BILL CALLED UP.
Senator's Eulogize the Members
ofthc Senior Body and Of The
Lower House.

WASHINGTON. February sS.--Al-
though the Senate devoted four hours
to Legislative matters to-day nothing
was ACCOMPLISHED except speech-
milking. Tho agricultural npproprla-
ton Bill received further criticism. IL
is proposed that n million dollars be
added TO the fund at the disposal OF
the forestry service to make ,p for
revenue taken from It and turned into
tho treasury. When this amendme,,t
probably is to be accepted senator
Hepburn Will not permit It to receive.
tinal action until ,c has exhausted
every legitimate means or opposition.
rms amendment furnished the text Of
the talk to-day, but no action ,y,s
taken -,
TIC provision for a survey Of the
proposed White Mountain and Appa.
lnchlan forest reserve, for which,, s35,-
900 is provided, was agreed to without
argument.
The Senate leaders express dsin-
clnation to permit much more time on
the bill. Senator Hale said to-day
that IL necessary the Senate will let
the bill fail and provide for the sup
rnrt OF the Agricultural Department
by adopting a resolution Continuing
the appropriations of the last session
Senator Aldrch prevailed on Senator
Proctor to lay the agricultural bill
aside shortly before 2 O'clock, that he
might call up his currency bill. This
was done. but IN the hour that re-
manned before tho special order for
eulogics was reached, nothing was ac-
complished beyond an explanation Of
his proposed amendment to the meas
lure by Senator Nelson. requiring banks
to pay 9 per cent. interest M govern
mcnt deposits, and an explanation Of
the purposes of the bill bv Mr.. Aljrich.
Explaining the provision IL the bill
which increases from s3,ooo,O 900 to $4,000
900 the amount Of national bank cir-
culation which may be retired in any
enc month. Mr.. Aldricll said the present
limit was fixed in 1882, when there was
a tendency on the part Of ma tional banks
to retire their circulation based on gov
eminent bonds as security. because of
a suggestion by the Secretary Of the
Treasury that bonds OF a lower rate Of
interest would be available for such
security. This condition made it de-
sirable to place a limit on the retire
ment of national bank circulation. and
tic S., 100000 limit was then fixed.
.Thes present universal demand for a
more elastic currency. he said, would be
met to avery slight degree by raising this
limit. Banks which now refuse to in
crease their circulation to meet cmcr-
gcncy demands, because they could not
retire this circulation quickly when the
demand ceased he said, would. be en-
courased to issue this circulation. This
provision he regarded as only a drop
in the bucket III relieving the Demand
for elastic currency.
Many Eulogies.
The time after 3 O'clock was devoted
to culogies on the lives Of the late SEN
ator Alger. OF Michigan, and Represent.
atves HIT, of Illinois; Hoar, OF AIassa-
and Lester. Of Georgia. Rep
lesentative Lester was euloglzed by Sen
ators Clay, Burrows, Mallory, Dollvar
and Bacon.