Show SOMETHING ON MONEY THE BILL TO PREVENT A of or I 1 THE CURRENCY the following ia the bill reported to the house of by lir mr sir Ei elevens stevens fron from fro n the committee of ways and meang means to prevent a depreciation of the currency F frat prat rat that every person or eiery overy b and bank a association or corporation issuing notes bills or other obil obligations actions calculated or inte ded ded Zed to circulate as money unless thereto authorized ty y act of congress shail ahall pay a duy duty ot at one fourth of 0 one per each month on the amount of buch euch notes cotes bils bills blis or other obligations 1 a so i sued by said person bank assoria tion or corporation and shall on the gir fir gira first A monday of each and every month make rake and deliver to the assessor of the district in which auch such bank association or corporation may be located or in which such person may reside a true and accurate return of the amount of note notes bills or other obliga obligations ions lons so issued whether in circa circulation lation or in its ita vaults or elsewhere in possession or on deposit and shall annex to every such euch return a declaration with the oath or affirmation of euch such person or of the tha president or cashier of such balk bank association or corporation in sch s ch form and manner as may be directed brec ted by the commissioner of at internal revenue that the bam contains a true and faithful statement cf of the amount of circulation as aforesaid and shall deliver a copy of said return to the collector of the district in which said barik bank association corporation or corpord tion ia is located and shall within ten days from the first monday in each and ahl every month pay to said collector said duy dwy of one fourth on the amount eo returned and for or any neglect ct to render kender or make such return or payment as aforesaid every such person clr mir baak association pr corporation shall py a penalty of one per on the amount of note billo or other obligations issued as aforesaid which amount shall in default of proper return be ott oti estimated mated by the assis assessor sor bor upon the best in or mation be te cai can obtain and every such penalty may be recovered for the use of the united states spates in any cout court coul of competent jurisdiction second that after one year from tha the passage of this act it shall be for any ny person bank association or corporation to issue or circulate cir cuate notes or other obligations designed or calculated to circulate aa al money unless authorized thereto b by y act of con congress ress tun TUB GOLD SALE f BILL the fol foi following lowin are the leading sections section s of or the bill which passed the senate be it exacted ec that it shall be unlawful to make an any contract for the purchase or sale eale or of delivery of any gold coin or bullion or of at any foreign exchange to be delivered at any time subsequent to the makiri of such contract or for the payment pl of any sum either fixed pr contingent ia ia default of the delivery of any gold coin or aullion b allion or of any foreign exchange or upon any ober tenna terms than the immediate in manual delivery of oi such gold coin or bullion or foreign exchange ani and nd the immediate payment in full of 0 the agreed I 1 price rice thereof by the manial delivery df livery of united states tates notes or national curr currency elcy ercy and not nob no otherwise or to makenny make any contract whatever for the sale loan or delivery of any gold coin or bullion or foreign exchange of which the person makino making such contract shall not at the lime time of ma making ehg it be e the owner in actual possession SEC 2 that it shall be further unlawful for any banker broker or other pert peri person perron torr lori to make any eu purchase r chase or sale of any gold coin or bullion or of any foreign fr r rei rel eign agn exchange or any contract for any such purchase braile or sale bale at any otier other pice than the ordinary place of business bustness of either the seller seuer or pa pinc perc chaser aaser owned or hired or occupied by him hirra individually or by a partnership et which he be is a m aber sec 3 ail all contracts made io in violation of thi act shall te be absolutely void SEC 4 any person who shall violate any provision pr of this act bhail shall be held guilty of a misdemeanor and OD on conviction thereof be fined in the sum of 1000 and be imprison imprisoned el ei for tor a apprill perio I 1 not lebs leas than three months mouths nor longer than one year or both at the discretion cf f the court Provi provides desfor for the recovery of the penalty one halt half of it to go to the tee pro se pe cuter LEGAL NOTES NOW AND ter TEB an opinion aieta exists says daya the Com commerce merci 1 Balle baile bulletin tip tin ot of boston that legal tenders are de pendent tor for value rn on their in coin as pledged by congress but b ut a paper r la certain convertibility into coin at dt we end 0 t fitly raty yearb years would eive it a besent value of ony only tour four cenis centa it if the interest Is seven per cent the th nw n w provision contemplate making that the gen vencial t ral tat rate in all national banks I 1 a certain convertibility at the end 0 of f ten years would make the prea pres nt vaua baue not more ihan than 50 60 cents cerite icae the present value of ou legal gal gai te tenders riders is their ability to cancel existing debts this toe toil despite of possie y an oversight of congress in givina gL uvin ivin no pledge that tiie tile legal tender ability of the notes shall remain till the notes are i edeene i 1 theomus the omission acquires some importance since bince the law of march 1863 took irom from he notes noes their convertibility into six per cent bonds though the convertibility was hedged to the notes aa as unqualifiedly as their legal tender tendel ability should however the legal tender ability of the notes be rescinded tl ey would thereby cease from being money and their further v vau wu would much depend on the terms of tha the I 1 law a rescinding rescind ing them secretary chase is puzzled pu for once somebody has stolen the plate plates 3 on which he be printed greenbacks green backs and clue cue cus has hag yet been found as to where they arel are unless found very shortly greenbacks green backs will be as thick as ae leaves in because whoever e la bas has a the plates can print government money just ag ad well as the treasury department mo ibe abe 1 l he signatures are erg eng engraved thelm pre aglon that abat stamps the notes gilio also prints tho iho official 0 signature nature 1 I it I 1 is said that an officer in mr air chases confidence and who was waa entrusted with the safe keeping ot at the plates platea is now in europe but bat trie pates plates where are they THE NATIONAL BANKING nill BILL it limits the tho entire note notes 9 for circulation issued under this act to three hundred million dollar dollars not more than one sixth of them thein to be of less lefts denomination than five doi dol dollars lars small smail no note ep to ceabe cease after the resumption of specie payments every association may chare on any aar io to sn tn or discount interest at a rate not exceeding seven per per annum the places of red zed ledem leder emption option st louis louisville chicago detroit new ori orl orleans eans cincinnati cleveland pittsburg baltimore philadelphia boston new yori tori albany san franc and portland ea cacti association shall select an association in either 6 of the cities above named at which it will redeem its circulating notes at pa but no as assoria socia tioila to be rel eved from its ty to redeem its circulating notes at its own counter at par no association shall have a less capital than nor less thin it if in a city of at more than inhabitants nothing in this bill is to be construed fo to exempt the market value of bhare shares a in any of tha associations from state or corporation taxes the share shareholders holders bolders of each asso lation founded under this act and of each existing bank or bankin hanking banking 0 association which may accept trie toe provisions shall be held individually res response ble equally and rateable rate ably and not one for far another for all contract debts and el eia ela engagements a ernests ernen tS of such association to the extent of the amount of their stock therein at the par va value in addition to the amount invested ia in sh shares ares arcs excepting the shareholders share bhare holders bolders of any banking aws ass abs clation cia tion having not less leas than five millions of or balars diara actually paid raid in as its capital stock shall be liable only to the amount invested in their shares any state balk bank may become a national ai association ocia ocla tion by the name nama prescribed in lit its certificate cortinca cert inca te the bi I 1 is similar to that heretofore acted upon by the house nothing in the act is to be construed to prevent the tle taxation axa tion by the states of the capital stock of janks banks the sama as all the property of other money corporations for state or municipal pur purposes but no stat stats shall impose any tax on such associations capital circulation or dividends at a higher tate rate than the taxation imposed by such state on the same bame amount of moneyed capi cap al at in the bands of individual provided that no state tax ahall be imposed on any part of the capital stock of such association invested in the united states bonds deposited as se s carity for their circulation a |