Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-07-01
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Mr.. nn'ser's mn ,,cihetc with unI.u,
rcnturcs OF ratcrnniiam.
Press Report.
Washington. June so.-Thc lates,
Populisi scheme Of national finapc, Il
put forward by Representative Rnker
OF Kansas In bin introduced wednes.
DAY 1t provides for twelve United
States government bank generals
These bank generals are TO receive
$4,000 year and TO serve twelve years.
al the expiration OF which time they
are to be retired on $4,000 salaries. TO
run as long us they live. Four bank
generals are 10 be chosen bs popular
vote every four Years. The bank gen.
erals are TO constitute bureau to
nave charge OF the new banking sys-
tenn which the scheme provides. A
government state bnnk ~ 10 be To-.
Gated In every state capital city. state
bank presidents. cashiers and nssistaut
cashiers are TO be elected by the people
state bank buildings are to be con-
NTucted by the United States. From
me state banks nre TO ramify system
of city ana county banks Every city
Of 10000 population Is allowed a bank
Every county of 10000 population In
given bank. The people are 10 elect
the cashiers and assistants OF these
subordinate banks and the government
~ TO eredt the buildings for the banks
For cititS of 10000 population the bank
buildings are to cost $4,000; for 2b. 900
people, S2a, 900 and so on. When a bank
has been built and the officers elected
by the voters of the city or county
~
TO double the cost OF the building and
fixtures VIII be issued 10 Il by the secre-
tary OF the treasury. On the approval
OF the all-powerful bank generals. The
cashiers oil the banks shall loan this
money to citizens OF their respective
cities and counties on any property
real or personal to any amount not OK
ceeding what IN their Judgment. is
one-third OF the cash value. Loans
shah De made FOR not more than one
year and ut per cont. The cashiers OF
these banks are to receive deposits
pay checks, handle drafts and do n
general benkinE business. For zach
draft Issued cents and one-tenth Of
per cent OF the draft shall he charged
Stamps are 70 be issued and put upon
drafts and cancelled to the amount OF
the charge. The secretary Of the
treasury Is TO issue paper currency to
carry out the scheme. A bank general
must be at least 30 years old. "A state
bank president. 20: cashier. 20, None
of these oiilcera shall be required to
give bond All losses through MALI aa-
nnco must be borne by the stnte, county
or city where they occur. LOSSES
through bunk generals must he mndc
good by the United states. Any city,
county or state refusing to make good
any loss viii have It's bank taken away.
An elaborate force OF national and
state inspectors is provided to make
frequent examinations aud TO report To
the bank general State banks are TO
be the medium through which the city
and county banks do business, They
are allowed 10 loan TO city or county or
school corporations, but not 10 indi-
vlduals State bnnk officers are to have
slx-yonr terms. The city and county
cashiers and assistants are TO have
four-year terms, There are many more
unique features OF the latest suggestion
OF financial paternnllsm. The scheme
Is notable for one thing, and that is II
provides the way FOR getting the pro-
duct Of Initiation into the hands OF those
who want II.