The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1894-04-20
WANTS TO PROVIDE MILLIONS oFMoHEY.
Cafe Mas Financial Proposition Which
Would Pit Him on Easy Street.
(Washinoton Post

Cafe Mas Financial Proposition which
Woyid Pit Him on Easy Street
Washington Post)
James NJ. Gale, of Yorkville, ILL.,,
has sent to the members of Congress
"a text for new monetary system and
banking for the United States OF
Smerica."
A note heading the bill says that il
is hoped that the President and mem
Der of both houses of Congress will
study its provisions carefully, and give
this nation of people q law that will
embrace it's features; also the tariff law
that viii do Justice to- all p"'ts OF the
country.
In the bill the author docs not over
look his own interests, and the bill, il
passed, will, as one member expressed
it, put Mr.. Gale on EASY street for
life. .,....s.fg..e .-e.... .-..--.
under the control of the government,
md makes gold, silver, nickle and
copper money metals, and provides fol
new paper interchangeable for coin.
The capital of the proposed bank Is t"
be, until otherwise ordered, 5000, ,000,-
700, 5000, 900, 900 of paper and $500,
100, 900 of coin, half gold and hall
silver. The capital of the banks may
he any sum from $3.50 to 81 900
900, until all places needing bank
| service shall have one National hanks
are given the privilege OF surrendcrine
their charters and beginning business
under the new system. Two commits
vfol a.. $,, utcfr m
location of the banks. The first is to
consist of the Senators and members
of the Fifty third and Fifty fourth Con-
gress. The second is to consist of the
Vice President, the Comptroller of the
Currency, the cabinet officers, the
Supreme Court judges and Mrs. Cleve-
land Their business is to look after
! The judicial interests of the country.
Mrs. Cleveland il to be president,
vice-president and secretary of this
commission, and for this extra service
| the board of bank managers is to set
| apart cents on the dollar out of the
| first authorized issue of the new paper
money, which is to be divided into
500 equal parts; the pay of the persons
comprising the commission is to be one
part, except Mrs. Cleveland who is to
receive two shares. Two shares are
also to be paid to the children of Mrs.
Cleveland, to be loaned by her for
their benefit until they are of age.
| In this section of the bill the author
provides for himself in payment for his
suggestion, as follows:
"And it is further provided that
James NJ. Gale, the originator and pro-
poser of this system, shall receive as
his reward and shsll have paid to him
quarterly, one mill on the dollar for
all money issued by tho government
from the passage of this act. He shall
have reserved for him the first bank
charter issued under this act for a bank
in his town (Yorkville, Ill. and shall
have decided to him the Small Islands,
| that is the remnant of an island in the
Fox river that separates the cities of
Yorkville and Bristol, one of which is
the most central and only appropriate
location for the bank and postof1icc for
| the two cities"
He is to receive oa20, 900 for improv-
ing the island and building bank and
postoffice. If any of the nppropria-
tiOn remains after the completion of
the Office it is to be donated to Mr..
Gale.
Mr.. Gale has not appeared in Wash
ingtOn to look after the interests of
hin bill.