The Durham daily globe. (Durham, N.C.) 1889-1894, 1893-11-23

, lar to the one encountered in the recent
panic. The suggestion is that instead Of
national bank circulation being based on
government bonds it be based upon coin,
| gold or silver bullion, treasury notes or
certificates of the government, and that
| par value of circulation be issued and all
the tax on national bank circulation
abolished, down to the point which will
barely cover the expense of printing
national bank notes and operating the
! system under the office of the comptroller
! of currency. 1t is held that national
banks would increase their present cir
culation from about $40, ,00O,0 900 10 the
full limit which they may have under
the law, about S6OO,OOOOOO 1t is true
that this would increase the money at
the disposal of the government to the
extent of about $46O 200, 900 and that if
only one-fourth Of this amount was nee
essary to be held TO meet the demands
Of the banks, there might be an addition
of something like $500, 100000 Of margin
in cash placed at the disposal Of the
treasury with which to meet emergencies
and panics. But if national btnks were
| olyn no
their circulation there would be no in
ducement for them to take out the full
limit of cir culation on their capital, al
though they might be required to do so
by law
If Senator VOORHEES, is half as severe
in the public speech on the pension qucs
tion which he proposes to deliver when
the senate meets next month as he has
been in various personal conversations,
he will be sensational in the extreme.
To his friends on the streets and in the
hotel corridors the Indiana senator, who
is skilled in vituperation, has employed
the severest expletives which an old law
yer and debater could lay his tongue to
whenever he has had occasion to refer to
Hoke Smith, secretary Of the interior.
There is no term which no brave white
man likes to hear and not resent that the
Indiana senator has not used very fire.
quently and deliberately and applied to
the Georgia secretary of heinteriOr in his
individual capacity. The senator the
other day, in talking to personal friend
clenched his fists, grated his teeth saw
agely, and employed the provincial term,
white livered," as applicable to the man
who was suspending pensions and con
demning pensioners without trial. Il
is true that John J. Ingalls, cf Kansas
fairly "chewed Up and spit out" the pres
ent chairman of the senate committee on
finance in the course of a personal speech
a few years ago, but the Hoosier states
man showed a great deal of ability in th'
use of expletives and denunciation wher
he made his reply. Senator NOorhee;
may be charged with great many short
comi1gs but his bitterest enemy has never
had the hardihood te say that he was
not an adept at repartee, or that be could
not hold his own with any other man il
upon the same level OF debate. 1t i:
stated that Senator VOORHEES, prepare
his TRADE against the anti pension policy
of this administration just before he de
livered his great speech in support OF the
bill TO unconditionally repeal the silver
law, and that he added his caustic touche:
to the secretary of the interior. He i:
said to have read it over TO friend, ol
to have verbally outlined It's character
and that he was advised 10 refrain from
i;s delivery in connection with the silver
:speecb, as it would tend TO detTact from
the force of his primary argument and
Gep-ive il Of much of its usefulness.
In OIden Times
People overlooked the Importance OF per
inaEent beneficial effects and were salts