The Lamar register., 1894-12-22

"
a Ii, house Committee on banking and
,v-saey have made report severely
.,-sertnlus the Carlisle currency blu.
,s.h was favorably reported TO the
~. to-day. The minority complain
a., The Bill was no; carefully consi;i-
,,.l by the committee. They also say:
ii Is the opinion Of number OF the
- clear headed and eminent hnan-
-. Of ID. country that II the Carlisle
N Va enacted into a law. within
....1 days tha; II would precdpttatc
pasic far more severe than that OF
Isd. as il would compel the forced
ss upsn the market OF nearly $780,
maa Of United States bonds within
81 months
-Ssg,ion ! repcals all acts and pares
a acss which rtqurc or authorize tho
bf.-ii q United States bonds to Sc
~ circulating nots-.' etc. instead OF
y uuch % all acts and parts OF acts
How many thousands may be
saoosly injured by such nes-fieSs
rhos-ais rci-sai OF the statutes. OF
ssshsS the supreme court. after years
4 Ht!sArian. might hy construction re
,sae. some parts OF such statutes
rAlsh Secretary Carlisle had repealed
-rSectSon . provides that each as
soatloa hereafter organized and each
ss-.aatloa applying FOR additional CIR
c.ls6ca shall pay it's pro-ra;a share
70 the sald fund before receiving
ss,s' without defining how the total
Ri q Zach sharc shall Be aSccrtained.
Ia tha same paragraph u ls pro
r,sed that when n national banking
sssrlsgsou h-cones insoly.nt- It's guar
e.y fund held on deposit shall BE-
raassl~rsi to the szlf.-cy fund hercin
;rgT,asd for. and applied TO the re
3Gg,lpn OF its outstanding notes
That Is 10 say. 1. 10 merged In the
a.s,y fBad. and again there Is no pro-
r.ssa In the bill for the use Of the
sfsty fund except by application In
e. la-s quoted
whatever legislation is had with
n.zescs to the nnanc,s OF the coun-
q q banking. its euects upon na-
.caal hanks should BE- permissive and
~ mandatory as 70 national banks.
ralt their Isrs-.at charters conunue.
70 proyide. as IN section Z. that every
cassonai banking association heretofore
xssalEed and having bonds on deposit
y seelre circulation shail on or before
u is; day OF July. isoS. withdraw
nj boais and deposit with the tresis-
Ssf o. the United States guaranty
ts.i ocusisting Of Unitcd States leg4u
'rc5sg notes, Including treasury notes,
a-1o; b. justified upon any principle
q sate legislation II could not taii
. produce n panic. aud the reckless
ss>s of such legislation would startle
~ oaly fnanclers In this country. but
: TIE world.
The provisions OF exemptions as TO
r.ie banks. Notwithstanding the many
'sstrc;iOus upon them. would drive
sE-y existing national bank that de
Sc io take out circulating notes INTO
y staie bank Were they enacted Inc
zIaiiOa OF national bank notes Is one
laii per erut- per annum In section .,
ist onehalf per cent. per annum under
seciol .. making a total OF one per
cat per aunum, which would be
arztiou Of 5000. 600 per snnum upon
iAe banks under the national system,
Ehich there is no reason TO believe
'0a any experience OF the past wound
Be Imposed upon them undeS any state
,!siem- Furthermore. the states would
e FAR more liberal than the United
s2ies Will ever be. or ought to be, as re-
sarh bonds or any other security Or
'elempuon fund. for they may require
the deposit OF no Uonds whatever. we
eAnnot believe Il was the intention OF
N trainers OF the Carlisle bill TO make
Ne Conditions under which the ma
uonai banks should issue currency any
l1ne oncrous than those Imposed OF
lAely to be imposed upon state banks
that IL was the intention OF MI
tarllsle or Of thoss. who now enthusias-