New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-05
Neutrality Bill
Had sloo,ooO,OOO
Bonding Clause
Appropriation Planned to
Meet Expense of Arm
ing Ships
Guns "Fore and Aft"
Provision Proposed Insurance
for Vessels Against
Risks of War

Washington, March 4.-The te1t
OF the armed neutrality" bill as 1t
,oas before the Senate when Con-
qTess died at noon to-day Wds:
"Be it enacted by the Senate and
House Of Representatives Of the United
States of America in Congress assem-
bled. that the commanders and crews
of all merchant vessels of the United
States, and bearing the registry OF the
United States, are hereby authorized
to arm and defend such vessels agains,
unlawful attacks, and the President OF
the United States is hereby authorized
end empowered TO supply such vessels
with defensive arms, fore and aft, also
with the necessary ammunition and
means of making use of them; ana
that he be and is hereby authorized
and empowered to employ such other
instrumentalities and methods as may
in his judgment and discretion seem
necessary and adequate to protect such
vessels and the citizens OF the Unieeu
States in their lawful and peacelui
pursuits on the high seas.
Bonds Are Authorized
"The sum of S100,000,000 is hereby
appropriated, to be expended by the
President of the United States for the
purpose of carrying into effect the fore
going provisions, the said sum TO De
available until the irst day OF January
1918.
For the purpose of meeting the eX-
penditures herein authorized, the Sec
rotary of the Treasury under the d.
rection Of the President. is hereby au.
thorized to borrow on the credit OF
the United States and 70 issue there
for bonds of the United States not
exceeding in the aggregate $4,000
900. said bonds TO be in such form
and subject TO such terms and condi-
tions as the Secretary OF the Treas
ury may prescribe. and to bear inter
est at q rate not exceeding per
centum per annum; provided tnat
such bonds shall be sold at not less
than par. shall not carry the circula-
ton privilege and that all citizens OF
the United States shall be given an
equal opportunity 70 subscribe there
for. but no commission shall be al
lowed or paid thereon; that both prin-
cipal and interest shall be payable IN
United States gold coin of the pres
emit standard of value, and be exempt
from all taxation and duties Of the
United States, as well as from taxa
ton in any form Of all state. munlc-
ipal or local authorities; that any
bonds issued hereunder may, under
such conditions as the Secretary OF the
Treasury may prescribe. be convertible
into bonds bearing higher rate OF in
terest than per centum per annum II
any bonds shall be issued by the
United States at higher rate than 3
per centum per annum by virtue or
any act passed on or before December
81, 1918.
Expenses Arc Provided
an order TO pay the necessary eX-
penses connected with the said issue
of bonds. or any conversions thereon,
sum not exceeding one-ffth OF ] per
centum Of the amount of bonds herein
authorized 10 be issued. or which may
be converted. is hereby appropriated.
out of any money in the Treasury not
otherwise appropriated, TO be expended
as the Secretary Of the Treasury may
direct.
"The President is authorized 70
transfer so much of the amount herein
appropriated as ne may deem neces-
sary, not exceeding s25,000,0Oo, to the
Bureau o. War Risk Insurance, created
by act of Congress. approved Septem-
Der 2nd, nineteen hundred and four
teen, for the purpose OF insuring yes
sells. their freight, passage, moneys and
cargoes against loss or damage by the
present risks Of war"