Democratic Sentinel, Volume 8, Number 1, Rensselaer, Jasper County, 1 February 1884 — BANK CIRCULATION. [ARTICLE]

BANK CIRCULATION.

Senate Finance Committee Reject She» man’s Bill to Establish a Basis ■ for Banking. I ' [Washington Telegram.] H The Finance Committee of the Senate hiß refused to approve Mr. Sherman's bill to eS tablish a basis lor banking, and aIBO Mr. US Pherson’s, which provides for an issue of chi culation equal to the face of any governmeifl bond. Mr. Aldrich has not yet taken tbH sense of the committee upon his propositioH to fund the fours into threes and pay thH cash bonus. Mr. Sherman admits that hIH bill might be improved. The committee jH confident of accomplishing something to stoH tbe threatened currency contraction, buH what it will be is not as yet apparent. H The proposition of Representative PotteiH of New York, to substitute 2 per cent. twentjH five-year bonds for the bonds now in exisfl ence was discussed by the House CommitteH on Banking and Currency to-day. No votH was taken. Tbe committee is awaiting tbH action of the Senate Finance Committee fore deciding upon a bill to report to thH House. Representative Hunt offered a resoluH tion declaring that the public wel t are dcru andH the benefits of the national banking systenH be substantially preserved and continued foH the time being. The resolution was inforH mally discussed but no action taken. H Considerable opposition has been manifestH ed to the bill recently introduced by MiH Buckner, providing for the issue of treasurH notes without legal tender quality, to takH the place of bank notes going out of exist! ence. The bill has not been considered bj! the commiitee. A member said to-day ex! pressions of opinion regarding it on the par! of members of the committee had been su! ficiently general to warrant the positive prefl diction that the bill will not receive the apl provai of a majority of the committee. 9