Salt Lake Herald | 1909-04-04 | Page 1 | Bills Offered by De Armond

BILLS OffERED I IBY BY DE ARMOND Missouri Representative Intro Introduces Introduces Introduces duces Several Reform Meas Measures Measures Measures ures in the House I Washington n April 3 ITIle The supreme court of ot 0 the Ute United States shall alone have ban the right rl bt to determine the tile validity or constitutionality of or acts ot of congress Congress it If f the bill bUl introduced by Representative Rep De Dc Armond of Missouri becomes a la 1 law Concerning the acte a ct of the state otte leg the supreme or other highest court of the state shell shall hare hae similar right so soAB AB ff P mond mont provides that funds of th the united Unit United ed ad States may m y not be deposited In Ina any y bank which is not the property C United d States Stat s e pt by bS b coni for forthe forthe or orthe the payment of or Interest thee ok Jit the highest rates obtainable unless e for lor forI I temporary safe keeping The contracts nay may m y be b made m de for tol 11 not f m re than a year at a time tI and bond must be given gheo by bythe bythe bythe the institution receiving the depo deposit it itI I obligating it not to lend any money mORey for any use in any kind of gambling ven yen venture venture ture Mr Ir DeArmond has introduced an another another another other bill bin requiring all banks controlled under the laws Jaws of the United States to pay annually into the treasury an amount equal to of 1 per percent percent percent cent of ot the total amount of their de tie deposits deposits posits to be used by b the secretary of the treasury ta tt protect depositors In banks contributing to a depositors depo guarantee fund Another bill proposed by Mr lr DeAr DeArmond DeArmond DeArmond mond would make It an offense pun punishable by B It fine of not tees less th than R JIW SI imprisonment for tor not more than five the years or both for any officer or em of any bank to furnish to any authorized government officer a state stat statement statement ment of the banks balance which s 5 snot snot not clearly given or Is 18 in a com corn commingled confused condition with the mingled or Intent to conceal the true condition of or orth the th bank