Omaha daily bee., 1892-11-27
CURRENCY QUESTIONS.
Suggestions of Interest from the Comp
trollcr OF the Currency.

Suggestions of Interest from the Comp
trolcr OF the Currency.
WAsutNGroS, ID. g., Nov. 25.-'rhe forth
coming report of Mr. a. p Hepburn, tho
comptroller of the currency, shows that l63
banks, with an aggregate capital OF Sl5,2S)-
OO0 were organized during the year, htty-
three went into voluntary liquidation, and
seventeen became insolvent, leaving IL net
increase for the year of ninety-three banks.
Nearly 80 per cent of the new banks are
located west of the Mississippi river and 80
per cent in the southern states.
The comptroller recommends that :he min
imum deposit of government bonds required
OF national! banks be $1,000 In case of banks
OF $4,000, and 5000 in case of banks whose
capital exceeds $4,000; that tho banks be
allowed to issue circulation notes equal to
the par value of the bonds held to secure
circulation that the monthly Withdrawals
of bonds pledged to secure circula-
tion shall not exceed 81, 100000 in
tho aggregate; that the tax on
the national bank circulation be repealed.
The banks have already paid into the treas
ury Si3,iiO,l0l in taxes upon circulation.
The BANKS should only be assessed in
amount sufficient to deTray the actual cost
OF the government of providing circulation;
| that the limit of the amount which may be
! loaned 10 any person, company or corpora
| ton or irm-l0 per cent of the capital
| stock of the bark so amended as to read
| capital mud surplus" and also that an eN-
ception be made in favor OF temporary loans,
| secured by collateral, in our largest business
| centsrs; that the government issue bonds,
| having twenty, thirty and forty years to
| run, at q low rate OF interest, with which to
| retire tho present bonded Indebtedness of
| the United States. which bonds may be Is
| sued US basis TO secure national bank circu-
lation. CTho comptroller shows that by ex-
| changing 2 per cent bonds having the same
| length of time 10 run, for the per cent ponds
| outstanding, Mt the market value of each on
| October /, 1892, the government could
have saved S61, l,55l. In addition to
| furnishing permanent Dasis for circula-
! tion, it would provo "a great saving to
| taxpayers of the country.) That the conn
| troler OF tho currency, with the approval OF
tho secretary OF tho treasury, ba empowered
| to remove officers and directors OF banks for
| violations of law, leaving tho vacancy so
| caused to be filled in tho usua, way, first
giving suca officers and directors an oppor-
tuuity to be heard. That the law be so
amended as to prohibit officers or employees
| OF q bank borrowing its funds in any manner,
except upon application to and approval by
| the board Of directors.
| Section $50, revised statutes, reads All
suits and proceedings arising out Of the pro-
| visions OF tho law governing national banks
| in which tho Uni ted States or any of it's
officers or agents shall be parties shall be
conducted by the United States attorneys of
tho several districts under the supervision
| of the solicitor OF tho treasury. The section
to be so amended as to leave the empoyme
of other than United States attorneys in the
| discretion OF the comptroller
In chapter IN regard TO circulation the
| comptroller says: Soied paper money is
popularity believed to DO potent means of
disseminating contagious diseases. note,
with its accumulated filth of circulation, is
unfit for circulation and should be redeemed.
National bank notes constitute little over
| 1G per cent Of the money In circulation.
Currency furnished by the government Will
! not commend itself TO the taxpayers upon
the score Of economy. The government can
| not issue money gratuitously; II must be on
exchange for some value. 1t cannot possess
elasticity. The practical workings has been
to arbitrarily increase or diminish the cur
rency to the uetrimenu of business interests.
| National banks have FURNISHED q currency
adequate to the wants of the public, sound
elastic and beyond criticism. This form OF
currency should be continued as the money
| OF the future
. Presidents Father-ln-i.uw Very III.
WASHINGTON, ID. c., Nov 25.-Rev. John
w. Scott, father-in-law Of President Harri-
, | son, aged 81, Is lying seriously i'll at the
, ! white house
II was stated at the white house this after
noon that DIR. Scott was not 80 well His
| temperature was higher and he was per
5 | cepubly weaker than he was IN the morning
| DR.. Gardner said, however, that there woult
be nothing at all serious in tho case were 1
9 | not for the advanced age of the patient
0 There was q steady decline in the condition
1 | OF Rev. DIR, Scott, the presidents father in
t | law, durlns the day ana tonight he is con
| sidera oly weaker than he was this morning
: There has tDeen no abatement OF the fever
which remains about tho same. Tho patien
is In very CRITICAL condition and II is ex
5 tromely doubtful whether he VIII pe able 4
q rally, as his great age makes it difficult TO
!. him to Withstand asy acute illness.
!, wiii Recommend . National Quarantine
q WAsuNGroN, ID. g., Nov, 25.-ln view o
Q the common expectation that President Har
I rison will include In his next message L
v congress recommendation looking 10 III
q | establishment of national Quarantin
y | Joseph Nimmo, late chief of the bureau 0
n statistics, has submitted 10 the presiaen
o certain observations upon the subject.
Il MIR. Nimmo. in brief. holds that as tn
d government has assumed entire charge G
? Immigration, one OF the principal sources @
n Infection FROM tho cholera and like diseases
IS IL must likoNiso take full charge of the sea
o board quarantine.
New Rapid-tire Gun.
WAsutNGToN, u. c., Nov. a5.-The Wa
department Is negotiating with the Arn
l. strong company OF England for the acauis
,r ton of Gesigus for new rapid-fre gul
II which Is sara 70 be 20 per cent more rapid
S action than any other gun. IL also conten
Is plates securing the right 10 manufacture III
d guus in tho United states.
s. said to BE Insane.
q CnICACo, III. Nov. %. Tho eS- Board G
,e Trade mau, w. Liuco!n, who, as !. juror, 81