The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1910-06-10
BILL PASSES
THE HOUSE
Republicans Roll Up
Big Vote For Postal
Savings Bank

WASHINGTON, June 9.-By the
overwhelming majority of 1876 to 101.
the house tonight passed the postal
savings bank bill as recently agreed
upon by the Republican caucus Of the
house. Not a single Republican voted
against the measure on the final roll
call.
Prior 10 this action the house, by
113 to 1876. rejected the Democratic
substitute for the bill proposed by the
majority.
The voting upon the several mo-
tions involved in tho disposition of the
measure followed six hours of debate,
In which many Republicans and Dem
ocrats recorded their viows upon the
bill OF the majority and the substitute
supported by large portion of the mi
nority.
The large detection among the Dem.
ocrats was shown when the Demo
cratic substitute was voted upon
twenty-one of them Joining the Re
publlcans in voting against the meas
ure Most of those were opposed to
a postal savings system of any kind
These Democrats were Brantlay OF
bSOl GID, DTDuSShtu vi LOulSldOd d
Burgess OF Texas, Carlin OF Virginia.
Flood of Virginia, Foss OF Massachu-
setts. Garrett of Tennessee. Gill OF
Maryland. Gillespie OF Texas, Ham
mond of Minnesota, Harrison Of New
York. Hay Of Virginia. jameson of
Iowa. Korbly of Indiana, Lamb of Vlr-
ginia. Latta of Nebraska. McHenry OF
Pennsylvania, Moon OF Tennessee.
Slayden OF Texas, Talbot of Mary
land and Turnbull of Virginia.
On the Republican side, Norris of
Nebraska, "lnsurgent." was the only
member who voted with the Demo
Gratis for their substitute On agree
Ing to the bill as proposed by the ma
jority Of the house az a substitute for
the senate measure, the vote was 175
to 106. On this vote twenty-six Dem
ocrats Joined the Republicans. as fol
lows;
Aiken. South Carolina; Ainsbcrry.
Ohio; Ashbrook of Ohio; Cox. Ohio.
Foss. Massachusetts: Foster, Illinois;
Hammond. Minnesota, Hanna, North
Dakota; Hayens. New York: Henry.
Texas: Hitchcock, Nebraska Hughes,
New Jersey; Johnson, Kentucky; Kin
kead, New Jersey; Mcguire, Nebras-
ka. Moss. Indiana; Nicholl. Pennsyl-
yania; O'Connell, Massachusetts. Pou.
North Carolina, Ransdel. Louisiana;
Rucker, Colorado; Sabath, Illinois;
Sharp. Ohio: Sulzer, New York Tay-
lor, Colorado, and Touvelle. Ohio.
Six Republicans Joined the Demo
Gratis In voting against the proposed
III Of the majority. as follows.
Gronna. North Dakota; Hubbard,
wa. Lenroot. Wisconsin; Nelson,
sconsin: Norris, Nebraska ana
ood, Iowa.
After a motion of Mr. Moon of Ten
p. essee to recommIt the bin to the com
mittee which reported It had been de
feated the house voted on the final
passage. the vote being 1875 TO 10l,
twenty-four Democrats voting with
the Republicans, as follows;
Aiken, Ansberry. Ashbrook. Cox.
Foss, Foster Hammond, Havens, Hen
ry. Hitchcock. Hughes, Kinkead, Ma
guire. Martin. Moss. Nicholl, O'Con-
nell Ransdell. Rucker. SABBATH. Sharp.
SulZer. Taylor and Touyelle.
Under the terms of the postal say
ingS bank bill passed by the house
tonight. a board of trustees is created.
consisting OF the postmaster general.
the secretary Of the treasury and the
attorney general. who shall declare
what postofflces shall become postal
savings banks.
Deposits in these banks made by
any one person shall not be more than
800 a month or exceed a total OF
$500 The account may be opened
with 81. but stamps OF 10 cents each
will be Issued for those desiring to
accumulate money to be deposited On
deposits per cent Is to be paid
Any depoSitor go desiring can cx-
change his deposits for government
bonds, TO be issued In denominations
of $50 $40, $50 $50. 500 or $500. to
bear Interest at 2l-2 per cent The
money accumulated In the postal saw
ings bank is to be deposited in both
national and state banks In the vicin'
ity Of the postoiiiceS In which the
money is deposited by the people. such
banks to pay IA per cent interest
Five per cent of the total deposits Is
to be retained by the secretary OF the
treasury as a cash reserve Not more
than 30 per cent OF these deposits may
be withdrawn by the government at
any one time for investment In bonds
OF the United States, the remaining 65
per cent to remain on deposit In the
banks The banks are required TO
give as security for the deposits they
receive public bonds or other seour-
ity supported by the taxing power,
which restricts the securities to some
form of national, state, municipal or
other such bonds. approved by the
board OF trustees in charge OF the
postal savings banks.
The bill passed by the house MS
substitute for the senate bill differs
from the senate measure in many par
tlculars. chiefly In respect to the M
ture of securities that may be given
by banks for deposits or postal savings
funds.
In addition TO government, state
and municipal bonds. various other
classes OF securities. such as mort
cages, etc, mny be received
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