The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1890-12-12
the MONEY MARKET.
National lawmakers VIII Endeavor
to Help Matters.

WASHINGTON, December 1.-THE House
committee on banking and currency met
this morning, and there was general discus
sion of the financial situation. There was
considerable difference of opinion manifest
I'd. Several thought the great need was a
restoration of public confidence. and that
With this secured financial affairs would
right themselves.
Mr.. Walker and one or two other members
of the committee were in favor of additional
legislation In the interest of national banks,
and MIR. Walker will draft bill to meet his
views of what should be done to permanent
ly better the financial situation.
The result of the discussion was the adOp-
tion of resolution to request the House to
set apart day fnr the consideration and
disposition of Chairman Dorsey's bill to re-
due to $1,000 the minimum amount of Unit
ed States bonds which national banks shall
be- required to Keep on deposit, and to per-
nit the issue of circulating notes by nation
al banks to the full amount of the par value
Of the bonds deposited This would, it is
said, increase the amount of money in clrcu-
latiGn almost Immediately by SIS, ,000,0 900, and
would result in a freer issue of national
bank notes by making the loss on circula-
tlOn insignificant or perhaps nothing at all.
When the bill comes up in the House,
Chairman Dorsey, in behalf of the commit
tee, will move an amendment to provide for
the issue of greenbacks whenever the ma
tional bank circulation falls below $l85 000,-
600.
WASHINGTON. December 11.-Iu accord
ance with the instructions of the Rrpubl-
| can senatorial caucus held last evening Sem
ator Edmunds has appointed Senators
Plumb, Hale, Mitchell, Nc Milen and Power
members OF the caucus committee to act
with the Republican members of the finance
| committee in framing scheMe for financial
| legislation to be submitted to the caucus.
Unite States Treasurer's Statement
WASHINGTON, December 1.-THE state.
| ment OF the Uoited States treasurer shows
| gold, silver United States notes and other
| funds in the treasury as follows:
Gold coin and bullion. ............ S2o4 O54 644
Silver dollars and bullion. ........... 39JS8u 839
| Silver dollars and bullion, act of July
| "A, 1880. O................ ........ 20,489 S7S
Trade dollar bars. Observation-Disclosures. 5.63,,b37
| Fractional silver coin................ 19,Ol2720
| UNITED states notes........... 1O,718,636
| National bank notes l35,742
National bank nUtes in process of re-
demption. ;..... ...:.,....... 3,5I7,427
tories ..-.......................... 29.43l, ,40o
Total............... ............ $685. Il, ,sl8
| Certificates outstanding:
Gold. % 1893 Oo9
| United States treasury notes. 18,l38,127
Currency........ ................... 6,240,00U
| The receipts from internal revenue today
| were $546.328, and from customs, $59l. .745
| The national bank notes received for re-
| denptlon today amount to S1S3. 561.
| Mr.. D~pew Talks.
CHICAGO, December 11.-Regarding the
| existing financial stringency, Chauncey NJ.
| Depew said last night that the the currency
| of the country was utterly incapable of meet
| ing the demands of legitimate trade. The
people lock money up and the government
| does also, in times of a general scare by buy
| ing bonds. He thought the p0stponement of
the foreign import tax until next July would
very materially help to restore confidence
and stimulate trade.
The Times on tho Money MIDDLE.
| LONDON, December 1.-THE Times saws
the monetary muddle In the United States is
due to piecemeal legislation and is likely to
be still further increased thu ough legislation
in favor of special classes. particularly such
as is demanded by the Farmers Alliance.
The only safe cure it says for the present
crisis is liquidation.