Daily press. [volume] (Newport News, Va.) 1896-current, 1908-01-31
Some Changes blade in The Meas.
aPa Providing for an EasP-
geley Increase.
DEMOCRATS AaaAYED AGAINST II
Amended Bill Requires Secretary Of
Treasury to Exercise ose as TO
What win Constitute Proper Sc
eurltIee-msrket Value of Railroad
aonds CFI4ed mt Is Cents.


WASHINGTON, ID. c., Jan. co.
Senator Adrlch. cha.rnlan of the son.
(. ate committee on finance today favor.
ably reported his bill providing for an
emergency Increase in the national
Tank circulation. The repor; was
authorized ut Il meeting of the com
mlttee held today n which all the
Republican members present Tuted
for q resolution authorizing the re.
porting Of the bill and all the Demo
Gratis voted for the Bailey substitute.
Senator Hansborough, who fayors q
central bank cbe)ne, was not present
and his vote was unrecorded
The only Democrats in attendance
We're Senators Tellef. Bailey and Den.
tel
Senator Taliaferro. who is absent In
Florida, was recorded us for ;he Bal
ley substitute.
Senator Money also was absent and
his vote was unrecorded.
MIR. Aldifch said he would call up
the bill for consideration on Monday,
February 10. -ts.s,s, -, ~ .sss
Various amendments which have
t'een published from time to time APP
peared in the bill although in general
character the bill remains the same
as when introduced There has bcer
al effort OH the part OF the committee
TO pass the emergency nature of the
hSt that Is proposed and to this end
various amendments are inserted in
the bill which are intended 10 cause
speedy issuance OF additional currency
occurs.
Power Given to the Comptroller.
The following amendments is in
serted In the first section of the bill In
lieu Of the provision which gave the
comptroller OF the currency power
TO FIX the time and the amount OF is
sues when application is made. accord.
Ing TO his Judgment and at his conven-
fence.
The comptroller of the currency
shall transmit Immediately the appli-
cation with his Recommendation to
the secretary CT the treasury who
shall. If in hts Judgment. business con-
dkions In the locality demand add
donal currency shall approve the
Rnle and shall determine the time of
Issue and FIX the amount. within the
limitations hereinafter imposed IL the
additional circulation notes to be is
SUED. In order that the distribution
or notes to be issued and other pro
visions CT this act shall be made as
equitable as practicable between the
various sections of the country. the
secretary of the treasury shall not APP
prove application from associations
10 any state In excess of the amount
or which such state shall be entitled
IL additional notes herein authorized
on the basis OF the proportion which
untmpa'red capital and surplus of the
national banking associations in such
state bears TO the total amour. of I'M
IMPAIRED capital and surplus of the
national ranking associations of the
United States; provided, hawever.
that In case the application from assc-
Citations In any state shall not be equ-
al To The amount which the assrc'a-
lions OF such stale would he entitled
10 under this method of distribution.
the secretary may in his discretion
To meet an emergency. assign the
amount not ;hus apgii:d for 10 any
applying association or associations
In states in the same section of the
country"
The clause Of the oTigina, bill fix
ing 10 per cent. OF The market value
OF all municipal and railway bonds as
the limit OF the issue of notes against
them has been amended so that rail
road bonds alone are to h. taken at
rs per cent. CT their market value.
Notes may he issued against deposits
of municipal and county bonds up TO-
80 pr cent OF their market value.
The limit OF circulating notes that
NAV he iss1ipI 1Ip1o,. tho not hos heou