The advocate and Topeka tribune., 1893-12-20
AsTONTsHINGI
(ConlinMed from pa0e II

invitation, after the Legislative incidents
Of the last few months, it was not sup
posed that any but banker, bond spec
ulstOr or other capitalist, would have
the temerity to make suggestions to the
committee. And il any visionary" Pop
ullstio schemes were suggested, it were
foolish to expect that they would bS
scted upon, or even published. To the
average congressman, in the consider
alton Of monetary matters, the bankers
are the people, hence the following sug-
gsstions from "the people" are pub
lished. Ex-senator Fsrwsll, Of the John
V. Farwell company, says:
II think the government should get
out Of the currency business-that il
ought TO have done so years ago. It
should pay it's floating debt az once by
the issue Of long, low rate interest bonds.
After this floating debt is all paid in
long bonds then the committee on baAk-
ing and currency should provide that
the national banks use all these bonds
at their face value, as q basis for their
circulating notes, then they would fur
nish all the currency that the country
required and the government would be
absolutely relieved from doing it. Pos
siblY in the near future, it would tran.
spirs that there was not enough govern
ment bonds to be nsed as basis Tor the
circulating medium; then IL would bs
easy to amend the national act by pro-
viding for the use OF other satisfactory
bonds.
"Next, the government should repeal
the sub-treasury act. Let the revenues
Of the government be deposited In ma
tionsl banks where collected, they giving
security for the whole amount received,
and thus keep all the money in circu-
lstion."
The clearing house association Of Sc
attls, Washington, through H. w.
Wheeler, president of the Commercial
bank Of that city, submits q bill which
provides that all national banks as at
present organized, the capital Of which
10 fully paid up and unimpsired, rhould
be permitted to withdraw the bonds
held by the treasury to secure thsir cir
culRting notes and, together with such
other banks as shall be organized under
the amended laws, be authorized TO iasuo
their circulating notes, to be provided
by the government in similar manner as
row pursued TO equal 30 per cent. OF the
unimpaired capital.
j. Wolcott, president OF the First Ma
tionRl bank of Los Angeles, CaliEornia,
recommends that the national banks be
allowed to is ne % per cent. OF the caDi-
thl in bills to be taxed at the rate OF 2
Per cent. per 8nnum, an additional %
per cent. to be taxed at the rate Of per
cent. per Rnnum and the third and
fourth 25 per cent to be taxed at the rate
OF and 6 per cent per Rnnum respeo.
lively; thht all these taxes be paid into
thu treasury Rs guaranty fund, and
that the stock and stockholders liability
OF the bank be held as security for the
bills which would be a prior lien upon
the same. This would give some fexi-
billty to the currency. II this could
have been done in May, June and July,
this trouble would not have occurred,
and millions Of dollars would have been
saved to the country.
Jefferson Chandler, the head Of the
we'll known law firm Of Chandler &
Kemer, Of New York city, recommends q
bill which levies an annual tax Of one
quarter OF per cent on ell deposits in