The Cairo bulletin., 1908-01-16
REPRESENTATIVE PRESENTS X
BILL FOR NAVY ADEQUATE
70 NATIONS DEFENSE.
.. S. NATIONAL BANK
To BE Located In Washington Wtih
Branches Advocated IN Bill Pre-
scented ny congressnran
Fornes of New York.

WdshihBtOn, Jan. I0.--neI4eSenhd-s
Tive Hobson introduced I'm the housc
today a bill TO provide navy atfe.
squate for national defense. II arpfD,
Ipriates $50,OoO,000 annually for the
purpose Of constructing new battie-
lships. the number apd features or the
vessels To be determined by tns
president under expert advise. IT also
authorized the president. whenever IN
his Judgment national security and
defense requires 1t, to order or par
chase, at home or abroad. vessels or
other war material, the MATERIAL the.
total cost of which shall not exceed
$5Oo0o,000 In any one year, without
further authorization.
The enlistment Of 1000 additional
enlisted men for each ne wbattleship
and commissioned officers In proper
Ition is also authorized.
The proposal of the Democratic
members or the house committee on
banking and currency that public
hearings should precefle the report On
any Of the several currency expansion
bills that have been introduced III the
house, was accepted today by mia.
iority of the committee. Ii was da-
|cided to begin daily public hearings
Wednesday, January g.
Senator Owen today introduced
bills limiting speculative loans OF ma
ticnal banks for the purpose of deal
ipg I'm stocks and agricultural apd
|othef products. TO their nnIrnpalfsd
capital and surplus. forbidding nation.
Al banks ~ receive deposits In EXCESS
of ten times the amount on their cup
ital and surplus providing for the
creation of d liquidation fund through
tax on all national banks imposed ~
the comptroller of the currency. and
requiring the secretary OF the treas
ury to keep on hand one hundred mil
lion dollars In United States notes
which shall be issued on securities
other than bonds OF the United States
up to IS per cent OF their market
valne.
The establishment OF the THE Uni
ted States National Bank 10 Amer
lca." is provided for In a bill intro
duced in the house today by Mr..
Fornes. Democrat. of New York. The
bank. as conceived. Is ODE located in
aud is to have capital
stock of $1,000,OoO.0o0.
The bank is to be open for business
September /. 1908. and to cease Is
exist September 1. 1868, unless It's
life be ertended by congress. Branch
IS are to be established In New York,
Chicago, New Orleans. Boston. Den.
ser. st. Louis. San Francisco. Cincin.
1sti and Portland. Ore. Four per cent 4
iividends may be paid to stockholders
,n the banks earnings.
House Summary.
SO persistent have been efforts
made In the house or representatives
% amend the bin codifying the penal
avs OF the United States that the
on revision of laws today
to let down the bars and
rs result the measure was changed
IN some important particulars. The
'pacIfic attitude of the committee In
his regard served TO modify the op-
position members and In consequences
today were devoid of
scated arguments which have char
seterized previous ones. When the
house at 1850 p. m. adjourned there
we're pending a number OF other i'm.
,ortant amendments which seemed. to
meet with no particular opposition
With the committee but which were
lassed over until tomorrow that
might have time to consider
hem carefully Portions Of the biTls
which attracted most mentioned we're
hose covering the giving and accept
ng Of bribes by senators and mem
,ers. and the sale of endorsements o.
for appointiye public officers.
I is to amendments touching these
luestions that the house tomorrow
viii devote Itself upon resumiug con
iideration OF the bill
Senate Summary.
The senate did net receive reply
oday from the secretary Of the treas
Try OF its resolution calling for infer
nation concerning the financial sit
ration. which had been promised and
n its absence. Senator Aldrich as
'ented 10 the passage Of Senator Cul-
resolution on the same sub
ect and without further comment the
-esolution was adopted
The senate passed a Joint resoiu-
ion reducing from s2feee.eoe to
III .O0a 0oo the war Indemnity Of The
United States from China. The ~
nainder OF the session vas devoted u
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