The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1908-01-16
Hobson's Navy Bill.

w dHnluklOut jan los-TiN'll 'o'hNe~
tive Hobson introduced in the house
a bill ito provide a navy adequate
for national defense" II appropriates
$50 900 900 annually for the pur-
pose OF constructing new battleships.
The number and features OF the yes
sells 20 be determined by the presi-
dent under expert advice. II also
authorized the president, whenever In
his judgment national security and
defense requires II. to order or pur-
chase. at home or abroad, vessels or
other war material. the material, the
total cost OF which shall not exceed
$50. 600 600 In any one year. without
further authorization.
The enlistment OF Loco additional
enlisted men for each new battleship
and commissioned officers in proper
tion Is also authorized.
The proposal OF the Democratic
members OF the house committee on
banking and currency that public
hearings should precede the report on
any OF the several currency expan-
sion bills that have been introduced in
the house. was accepted by a majority
OF the committee. II was decided TO
begin daily public hearings Wednes-
day. January 22.
Senator owen introduced bills linn
iting speculative loans OF national
banks for the purpose of dealing in
stocks and agricultural and other
products to their unimpaired capital
and surplus. forbidding national banks
TO receive deposits In excess of ten
times the amount OF their capital and
surplus. providing for the creation of
liquidation fund through tax on all
national banks imposed by the comp
troller OF the currency. and requiring
the secretary of the treasury to keep
on hand one hundred million dollars
In United States notes which shall be
issued on securities other than bonds
OF the United states up to SIS per cent
of their market value.
The establishment OF 1.-The United
States National Bank OF America" Ia
provided for in bill introduced in
the house by Mr.. Fornes, Democrat,
of New York The bank. rs con-
ceived, is to be located In Washington
and is TO have a capital stock OF ST.
600, e0o, 900.
The bankis to be open for business
: September /. 1908, and to cease TO
exist September 1863, unless its
life be extended by congress. Branches
are to be established in New York.
Chicago, New Orleans, Boston. Dem
yer. st. Louis. san Francisco. Cincin-
natl and Portland, Ore. Four pei
cent .diyidendszmay be paid 10 stock
holders on the banks earnings.
House Summary.
So persistent have been efforts
made in the house Of representatives
TO amend the bill codifying the penal
laws OF the United States that the
committee on revision OF laws consent
ed to let down the bars and as re-
suit the measure was changed in some
important particulars. The specific
attitude Of the committee In this re-
gard served to modify the opposition
members and in consequence proceed
ings were devoid of heated arguments
which have characterized previous
ones.
Senate Summary.
The senate did not receive reply
from the secretary of the treasury OF
It's resolution calling for information
concerning the financial situation
which had been promised and In Its
absence. Senator Aldrich assented to
the passage OF Senator Culberson's
resolution on the same subject and
(withcut further comment the resolu'
Hutton was adopted.
\ The senate psaKed Joint 5esolu'