The Birmingham age-herald., 1907-12-04
Proposed Tax Amounts TOSma|I Item in Guaranteeing
 Banks Safety
CAUCUS OF DEMOCRATS
 WILL SHOW UP KICKERS
Nominations of Judge Hundley and District Attorney Street Have Been Sent to the Senate
 For Confirmation.

1 Washington, December 3-tSpeciaL)- | One of the main features of the pro- I posed legislation discussed at the capitol 1 is whether the national banks should be ! taxed to provide a guarantee fund to pay | their depositors in case Of failure of any ?, bank.
 | Representative Underwood in defense , of this bill, introduced for this purpose,
 stated that the annual average deposits in active national banks from 1865 to l91i
 was sl,SS3.O63 452. that the total claims
 proved against insolvent national banks
 from 1865 to 1904 was Sl47.sO9,Sl0 that tho 1 total loss to creditors from 1865 to lsOI was s4So2s,977. making an annual aver age loss of sl,07572l or an average an- I nual loss of eight one-hundredths of one l per cent. In other words a fund accu- mulated by tax of eight-tenths of ono l mill on the average deposits of the na- l tonal banks would have paid every loss | incurred in the last forty years. Eight l hundred dollars a year collected as tax | on million dollars of deposits would on an average pay every loss that has oe- l cured" said MT. Underwood tonight "A bank having million of deposits can lend out under the law S5 per cenr | of the deposits, $S500OO, which at . | per cent earns them $40,j 800 Could any | bank complain that tax of $500, or
 twice that amount would injure them ! when they were making over S40O00 out l of their depositors' money
 "The bankers would make far more | than they lost in any event. for tho | confidence that such law would give l the people in national banks would bring l an immense amount of money put of
 hiding and put it in the banks, thereby
 largely increasing the profits of the | bankers.
 l But the object of the bill in tue end 1 is not to make banking more profitable. | although it would have that effeAt but | 1t Is first to use small amount of ths | profits the banks make out of the de- | positors' money 10 insure the depositors | against loss second, to prevent runs on banks and bank panics that arise from lack of confidence in some banks sol vency and l think 1t would prevent the hoarding of money and keep 1t in tho banks and in circulation at all times" Caucus To Be Held. In excess of p members having signed the petition, the house democrats will meet in caucus tomorrow night to discuss the Jones resolution taking out of the hands of the minority leader. Representa- tive Williams, the appointment of the minority commission places in the House While this resolution is aimed at MT. Williams, owing to his inability to please Representative Lamar of Florida, Repre- sentative Shackelford of Missouri, and half dozen others in commission assign ments in the last Congress, the call for the caucus was signed by many of MT. WiIliHmS' friends Some them U for the reason that Representative Jones of Virginia promised a hearing at the caucus Saturday and being cut off by a motion to adjourn, in a spirit of fair ness new caucus is held.
 There is just suspicion, however. that good many of the signers were actuated l by another motive. There a handful 1 of House democrats who would not be | led by any one In a democratic body | it is probable that there will always be such han,..ul. At any rate it is the purpose to have vote on the Jones resolution and any others which may be presented tomorrow night and demon strate to the opponents of the minority organization just how few and far be- tween they are. Having convinced them that they are in a hopeless minority. they may not feel so much inclined to
 kick out of the traces.
 Hundley's Nomination.
 The President today sent to the Senate
 the nomination of Oscar R. Hundley to os
 district judge of the northern Alabama
 district and O. D. Street to be district
 attorney. Both appointments were mad3
 during the recess and under the law had
 to be again sent to the Senate. The nomi-
 nations have been referred to the judi
 cial committee. The confirmation of MT.
 Hundley depends largely upon the atti-
 tude of Senators Bankhead and Johnston
 uDd in he fa h Ia
 to him. although both the late senators,
 5- and Pettus, were against his com
 firmation.
 A number of Alabma democrats are
 of the belief that from political stand
 point Judge Hundey should not be con
 frmed the election of a democratic
 President would give the important fed
 eral Judgeship to democrat.
 Underwood's Resolution. Representativ Underwood of Alabama today introduced a resolution inquiring whether the secretary of the department of commerce and labor had through ln- vestigation received the facts regarding alleged violations of the sherman anti trust act the part of the United Fruit company A number of Birming- ham people are interested in independent concerns and asked MT. Underwood to secure the information for them. President Barnes of the First National bank of Eutaw, Ala, was introduced to the secretary of the treasury today by Representative Hobson and made ar engagements to take out 5000 of Panama bonds which will be deposited for cir culation
 Former Congressman Bowie of Alabama was in the House this morning, introduc- ing his successor Representative Craig, to the old members.
 Representative Hefiin of Alabama today introduced a bill providing for a Jim Crow street car law in the District or Columbia. w. $. Terrorists' Plot Discovered. Paris. December 3.-A Geneva dispatch