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Daily Los Angeles Herald
Los Angeles, Los Angeles County, California
What is this article about?
In Washington on Feb. 11th, the sub-committee of Ewing, Buckner, and Phillips from the Committee on Banking and Currency agreed on a substitute for Buckner's bill to retire national bank notes and replace them with treasury notes, in accord with the anticipated silver bill.
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Washington, Feb. 11th.- Ewing, Buckner and Phillips, sub-committee of the Committee on Banking and Currency, have agreed on a substitute for Buckner's bill. It proposes to retire national bank notes as fast as they may be received by the treasury through legitimate business channels and substitute therefor treasury notes, receivable for all dues to the government or fundable in four per cent. bonds at par. The banks may voluntarily retire their circulating notes and receive for them four per cent. bonds, and treasury and legal tender notes may be received in payment of such bonds. Bonds hereafter authorized to be issued may be disposed of at not less than par whenever coin may be needed for any purpose. The bill has yet to be submitted to the full committee. It is framed in contemplation of the passage of the silver bill, with which it is intended to be in accord.
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Domestic News Details
Primary Location
Washington
Event Date
Feb. 11th
Key Persons
Event Details
Ewing, Buckner and Phillips, sub-committee of the Committee on Banking and Currency, have agreed on a substitute for Buckner's bill. It proposes to retire national bank notes as fast as they may be received by the treasury through legitimate business channels and substitute therefor treasury notes, receivable for all dues to the government or fundable in four per cent. bonds at par. The banks may voluntarily retire their circulating notes and receive for them four per cent. bonds, and treasury and legal tender notes may be received in payment of such bonds. Bonds hereafter authorized to be issued may be disposed of at not less than par whenever coin may be needed for any purpose. The bill has yet to be submitted to the full committee. It is framed in contemplation of the passage of the silver bill, with which it is intended to be in accord.