Asheville daily citizen. [volume] (Asheville, N.C.) 1890-1900, 1894-12-12
GO OUT On BANKING BUSINESS
CARLISLE FURTHER EXPLAINS
HIS PLAN OF REFORM.

Where It Touches the National Bank
ing system-Not Good Policy for the
Government to Store Gold and silver
and Issue Certificates.
WASHINGTON. Dec. 12.-lnterest 10 the
second days appearance o! Secretary
Carlisle before the Banking and Cur.
reucy committee Of the House was shown
BY the promptness with which members
OF the committee gathered. With few
exceptions all were In their seats at a
quarter past 10 O'Clock.
Pending the arrival of Secretary Car
Isle, Horace White Of New York ad.
dressed the committee. He said he had
drawn a bill which embodied his idea Of
the Baltimore plan, but which had not
been adopted by the Baltimore COM
mittee. He proceeded to read at some
length carefully prepared paper cover
Ing the general subject Of banking.
Secretary Carlisle, who had appeared
some time previously, addressed the com.
mittee at the conclu.ion OF the hearing
given White. He had come at the request
OF a committee to present bill be had
prepared to carry out his financial plan,
which he proceeded to read without the
introduction.
When he had finished reading his bill
Carlisle explained that 1t repealed Sec
ton nine and IL OF the act of July IL,
1882. Section nine Of that act arthor.
lied the depositors Of lawful money by
the national banks to withdraw their
deposits Of iryulatinG notes. 1t might
not be absolutely necessary, he said, to
repeal that section II the proposed plan
we're adopted, but still the spirit Of the
section was that any National bank
shall not retire in the aggregate more
than $4,000, 900 per month, and. having
done so, shall not be allowed to increase
its circulation within six months. Sec
IL of the act of 1883 referred to gold GER.
ti6cates and their suspension. when the
gold reserve fell below $l00,00O,0O0.
Concerning this provision, Carlisle said
it was not good policy for the govern
ment to establish warehouse
deposit Of gold and to issre
certificates against 1t, for the
reason that this gold or large part of
1t would come into the treasury
and stay there II those certificates we're
not issued against it. But. said Car
Isle, the repeal Of this was not the essen
tial part OF the matter. His own view
was that it would be beneficial to the
government to issue these certificates.
but to have the treasury hold the gold
and pay it out so as to get it into circu-
latiun.
To Brosius Of Pennsylvania Carlisle
said his theory concerning national
banks was that the government should
he almost wholly divorced from rela,
tions with them, except in so far as it
was necessary to throw safeguards
about them in order to insure their sta
bility and reliability. His belief in this
connection was based on both constitu-
tional and practical grounds.
Mr.. Springer Of Illinois has introduced
in the house the financial bill which Sec.
retary Carlisle favors. The bill repeals
all acts and parts OF acts which re-
quire or authorize the deposit of United
States bonds to secure circulating notes
issued bv national banking associations
and such notes hereafter prepared shall
not contain the statement that they ar.
so secured,