The morning call., 1890-12-25
EDITORIAL NOTES.

Congressman Walker Of Massachusetts
Gently Introduced bill providing for new
bank currency that Is likely TO provoke con-
siderable discussion. Tile Congressman, who is
a member of the Committee on Banking and
Currency estimates that the BILL If enacted
would caHse an immediate increase in the cur
reney Of the country of $3.50, 100000 1t pro.
vides for an issue by the banks of currency notes
based upon their coin and coin certificate
reserve, and IN addition thereto an equal amount
of circulating notes TO be purchased of Tie
Government with lawful money. Or the fund
received by the Treasury for the notes pur-
chased 30 per cent Is TO be used for the re-
demption ana destruction of the Old greenbacks.
and 10 per cent is 10 be kept a redemption
fund In place of tile present greeuback
redemption fund. No tax of any kind is to be
levied the banks when all the provisions Of
the law are complied with, but tax penalties are
SO arranged as 10 allow the increase or decrease
of the currency under certain conditions.
Under the provisions Of the bill possible bank
circulation TO the extent Of the capital Of the
bank Is allowed Among other provisions 1t is
stipulated that the bank shall last pay out tile
bills issued to ii upon lis reserve. Half OF the
reserve is TO be kept IN gold coin or gold eertif
Gates, and half may be In silver silver certili
Gales. board Of experts Is TO advise with tile
Comptroller of the Currency and submit recon-
mendatous for the execution OF the law, which
are TO be printed fu the COmptr0lier's report.
Congressman Walker claims the measure VIII
simply incorporate in the statutes those princi-
pies OF banking which have been approved by
the experience Of ages and give the country a
sound aud more flexible currency than II ever
has had.
The Chinese slave-dealers. who have been
caught by the French stealing Tonkinese women
TO meet the demand for human chatiels in West.
eru China, are being severely dealt with. The
odious traffic commenced about twenty five
years ago with the sale vi a number of caprives
the result being quite an extensive trade; hun
dreds OF poor women being dragged away from
their homes every year and sold into servifuae.
They are, as n rule, gentle, obedient and labor
ious, consequently commanding good price. 1t
is, indeed, gratifying TO learn that good progress
is being made In stamping out the odlous traffic.
1t Is now the impression in certain circles that
Secretary Blaine's negotiations with San Domingo
will result in 4 good fair reciprocity treaty and
the granting of SANTANA Bay as coating station
for the navy Americans were granted 4 charter
in 1879 transferring TO them the peninsula and
bay OF SANTANA, but when, In 1874, revolution
broke out the Government refused to recognize
the rights transferred under the charter. Secre-
tary Blaine has had the matter called to his at
tenLop, and IL Is believed the question Will event
ually be settled to the satisfaction of both parties
Jay Gould evidently does not appreciate Gov
ernmebtaI supervision OF tile railroads, for, in
response to the query: "De you consider that the
Interstate Commission system will be aban-
doned?'' lie recently suswered: II think that 1t
will be modified, and perhaps ultimately laid
aside" The railroad king Is pretty well posted
on the tendency of legislation, particularly that
inspired by certain Interests, and no doubt il
they could carry out their policy it would be
soon ''lad aside"
Laeuerre, formerly an ardent supporter OF
Bouanger, now opposes his pretensions and
Claims On the ground Of pubic policy, declaring
that BouIanger is dead. and the sooner this fact
is recognized The better 10 will be for the COUNTRY
WhaI remarkable transformation time has
brought about. But short While ago the popular
idol, now he Is virtually an exile for whom little
sympathy is manifested.