Democratic Sentinel, Volume 8, Number 4, Rensselaer, Jasper County, 22 February 1884 — Banking and Currency. [ARTICLE]

Banking and Currency.

A majority of the House Committee on Banking and Currency, says a Washington dispatch, have practically given up the expectation that Congress will remove the tax on banking circulation. At their next meeting they will probably draft a substitute for the Buckner-Potter and other bank and bond bills referred to them, which will be a combination of bills introduced in the Senate by Messrs. Aldrich and McPherson, one of which is recommended by Comptroller Knox, and the other by United States Treasurer Wyman. The substitute as now proposed will provide for a new series of 3 per cent, bonds, to be exchanged for 4’s, at a bonus of 15 per cent., to induce holders to give them up; also that national banks may issue circulating notes to the amount of the par value of their bonds on deposit.