The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1894-12-11
BANKERS IDEAS
New York Financiers Before
the House Commission.
They Tell How They Would
Reform the Currency.
A BILL is SUBMITTED.
Horace White Has One On the
Baltimore Plan
He Does Not Think Mr.CarIisle's
Scheme is Good.

WASHINGTON, Dec. 1.-The hearing
before the house banking and currency
commission on the question of reor-
ganization Of the currency laws was re-
sumed in a room of the ways and
means committee, but did not move
of very promptly. Among those pres
ent we're Mr. Horace White. of
the New York Evening Post; Air. q. g.
Homer of Baltimore chairman OF the
committee of national bankers to formu-
late the so-called Baltimore plan and r.
p Hepburn or New York, ex-comptrol-
ler of the currency
These gentlemen represent the city
ideas embraced in the Baltimore plan
1T was expected that Secretary
Carlisle would present his currency
bill, and continue his statement of yes
terday, but as the secretary was late IN
arriving, Mr.. " hite opened the hearing.
In answer to a question he stated that he
had drafted bill on the lines of the
Baltimore plan and it was arranged that
this should be placed before the commit
tee
Mr.. Whites statement was read from
manuscript and was a carefully pre-
pared review of the banking question
At the close Of Mr.. Whites statement he
submitted his bill on the lines
Of the Baltimore plan. Mr. Homer
states that the committee of national
bankers had not yet formulated their
Whites opinion on Secretary Carlisle's
currency plan.
Mr.. White answered that he did not
think the secretary's plap would give the
elasticity it sought to secure 1t com
PEELED banks to put up 80 cents every
time they issued 70 cents
MIR. Walker Of Massachusetts, asked If
the bill presented by Mr.. White would
secure a safe and uniform currency.
1t viii have that tendency said 1lr.
White
THAT is moi it, said Mr.. Walker. We
don't want to provide d tendency toward
a safe currency but an actual safety"
Il am not omniscient," suggested Alr.
White. He added that IN his judgment
the bill would secure an elastic currency.
Secretary Carlisle came in at this point
and was an Interested listener TO Mr..
White. Mr. Warner of New York, asked
what restrictions should be imposed on
state banks.
Mr. White said he would adjust state
banks to the same regulations as those
i'm mposed on national banks
ar. Cox of Tennessee asked if this
would not do away with the need Of
state banks
Mr.. White answered that it would He
said he believed IN one uniform banking
system-not of systems, there being A
states.
Mr Carlisle then resumed his state
ment begun yesterday lie presented
the Dill ne udu pre- k5dtcOA, -uDOOyA yAu2 has
plan Of currency, revised, and read it to
4 the committee, commenting on il as he
( proceeded
He said he did not believe in govern
ment responsibility further than in pro
viding the best safeguards
Z The secretary spoke of Comptroller
/ EckeIs' currency plan. Without wishing
to criticise he thought its fatal de-
feet was IN requiring national banks to
take out two different kinds Of circula-
! ton notes
Mr.. Hall of Missouri, asked in regard
to Mr. Whites statement that the treas
ury plan lacked elasticity. Mr. Carlisle
said there was no difference between the
plans as to the amount of circulation
/ which could be taken out