New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-31

S.,n ,,abe for double the amount OF s ymL show
them and the records o. failures Of National banks
snaI I'm IN ,hsr II per cent Of their capia make up
collected Of the stccahoide na II f this may be
the dencit o. rrrcentagc Of the future 10 nt
wav eispt OF los pcr cect margin on oJ these
IN ssd ss 70 ber assets after the notes
&c snch banks In desperate diseases % uo other
Semedies are necessary ard can n see ont of
msthoT e os If the business req9iremetn,tSs
~ the country demand IT. tnan r oy mo7 at his
authorizing the secretary S S 'p proposes with the
snnrova of the President As for the aane osits are
Government losing one Se no. donbt responsible IN
nanes compapiss would guarantee inc uu' I'll Ill
msnt against loss for less than the ihteros' "'
realize on Ine oep hs AGO to the system Of banking
a. a. ,eriod between 1880 and le4u anu .h ~
banking of to-day. IL is weli-known raue made
nnder the old system of banking ioans udorsers
~, nd,vidnaI notes with two or more Inuo, 49,
and generally on long time On an aVca eSer back
never expected 10 Iea'' Under six months.
Pn, today banking is entirely different III 'n nc
great money centres. Loans are manly inal0 aod
~. ,r@.nce of the country aud on de'nanui a &c
sno made on the produce of tho country o.s VI
iadina and insurance policies covering s"o hamT
PAYABLE IN short time are con-! e' ai,.s command
the mnnev the next das in the money halhe, t -.
The country If thew require II to meet tneia 49,,
ing obligations. The bill as nraw t nau and that
hank hat this money Is subject 10 car, GU
The act itself expires by lmltai ion on JannL i,
1850, and that the money Is 10 re yerv nro.
the Trsas"T by eth the bank to use than
s;nru oantion in the use OF its money anu huo
Tor speculative purposes. III money was vas, Nv" - nor
o nor cent To them they would not take ~ ho,
oid there he any necessity of its being deposteu
W .he hawks II the demands of the country aoso
lutely require this money! ,hsh IL ous"' "
INTO circu IN tion in some wav. g, L. Al. hill
WonId not the objection be made 10 .ne ~ ~
that il clothed one man with 100 hucn p0"'-
was asked -. ...,,o 10 nothinp Won
non 10 or profess 70 do that some ob]ec'ion cnuoo
be raised against it. There VIII DO SOLE Which
nme who will think that the power win WIFI ,th
SUM-; XII osts the Secretary of the Treasury WIN
ths annrnval of the President TO deposi, tIis aE
surplus the National banks - orices of all
Commodities in certain emergenc es' anu ." loo -
might be used for personal advantage, vi a. 49,, he
for the advantage of those who coula aseeI .n
80 IL US done what the Secretary OF the lIesu.S
nronosed TO do But think II is reasohaoIe W ~
nose that the secretary OF tue IIeasuH this
Pres,dent Of the United states VIII e1erciS AZ
,awer vested IN them IN them in wise anu u,s
Greet wav But even admitting that Few r r,ona
possibly avail Themselves % bs Of small account IN
comnarrs n with the great beneht accIuhe 70 ~. to
whole country IN financial eneise"'s' ~
mower was thus vested. IL. 4. oil National
.'Whv not extend tnese uep"oiVo =" 60
banksf was asked. ,rsa ,rouid
Because" was the reply. such course Wot tha
Invite "A scramble for the deposlis wnlcn u Gu
em.rcarc y arose would defeat the very opIecI ~
which the deposits are intended TO oe maui ~ 20
the great commercial cep'i res reIieved ali
other portions of the country are ihel
Senially relieved. The capitai stock o. o.
the hanks in the lies named amounts ~
Sooo oOo 600 and the surplus eserve IN such baks
10 about S65 900 O00 If the secretary VI t tho
Treasury should find 1t necessary 70 nnn;tiug mn
10 the full limit authorized, sixty per cnI o ~ =. ~
take ont of the treasury about Sl2ooOUoVo en- oTo
snrplus over and above the necsssilles Vi 'N0 wv
crnnept amounted to so fnuch. ..r,, aoa.;or of
Mir Scott said in conclusion: MS que''ip III %
the surplus reserve in the Sub treasures aa 'uio
time il of more than ordinary lmpr'ance oSSdu19S
NJ rho nresent outlook of affairs IN Europe. onolu
a general European war open ID tne spIll ~
wonld unquestionaby produce ,he mouey mar
lets of the world. 1t has peeD tIuIS e"iu e
money is the snew of war, and our own & hb
has taught us the truth OF the maxim, me , ~
rates tbaf money would undoubtedly reach III
Europe would at first nave teIu oIrood
send home our h 6DTerteS in our exchanges
and # is more than likely that az hrst, u sucI M
shouId occur our metallic reserve wnuld DC iaisoS
denleted by export alton. This woud for q llne Sc
r;ngnsIv fleet Our money market, but undoubtedly
n reaction wonld follow growing out or the arr
exports Of produce a. the results OF SUN ~
ord in the end gold would be importer 10
nav for these exports. But while this process is
going on every dollar of our aVallaoie non.y
would he reour red to tide us over the etnereency
wa =, e aS,e ma +, move the produce of the conn
try in the interests of our producing T.au and
question of the surp us money Ia .ne 100 sbonid
its disposition in the interests OF tht peopo &c &C.
not bS viewed from party standpoint IL Is o, 700
vital importance 10 the people ana thelr weuaie
nemoorats and Republicans alike ought to ignore
Marty and look at II simply as question OF si.S
inheritance TO the business interests Oh the coun
try"
r,r-prvG THE BOSTON CHAMBER OF COMMERCE
WASHINGTON Dec. 3O-Early in the present month 'ne
pesdent Of the Chamber of Commerce OF Boston
erier importing have been written by Cora f. "a
ar of Cane Girardean No. In which she represented he
sef fourteen her father dead her mother an nvad ana
that she had three young brothers She besough' ING
Chamber of Commerce contribute few dollars 10 au
In her savings 10 purchase sewing machine to enable
her 10 support family. She gave reference 10 AIper
Wilmont requesting remittance TO be sent to him Will
mont was elegraphed and answered that Cora wa
Truthful industrious and the sole support OF an hNiu
,noher and three younger children. The Chamoer een
more than double the amount asked in money u
Wllmont's care Cora myth and Wlimont ndu 1i
howeyer and when the latter presented the Orue
fbe name OF the bogus Cora. the postmaster VIM ke
him caused his arrest Willmout had sent the same pa
theic appeal various boards OF trade sewing re
companes Bible societies. etc. but the Bos'ohan0
the first respond with the cash.
ID