New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-22
THE CERTIFICATE PLAN.
GREAT INTEREST TAKEN IN THE SEN
ATE'S ACTION UPON 1T.
THE MEAsrRE PROPOSES THE OFFERING or
LOAN OF SMALL DENOMINATIONS d.
RECTLY TO THE PEOPLE.


1ey TELEGRAPH TO THE TRrBuNEl
Washington Feb. 2l.-Much interest IL felt In the
prospective action Of the Senate on the Allison
German amendment inserted In the sundry Civii
Appropraton bill authorizing the issue OF *"-
600 600 OF certificates of indebtedness by the Treas
urv Department. The fact that 1t Is proposeu ny
this process to offer popular loan to the masses
IN small denominations and through easy cha"''eis
of access adds greatly to the importance vi ''i'
proposition and to the anxiety TO see II "
law The amendment authorizes me sat a. Po''
offices and United States repositories Oh oe'U'
Of Indebtedness bearing per cent interest re-
deemable after two years. in denominations VI S-o.
en- and slOO and mutiples thereof This means OF
relieving the Treasury's embarrassments wouiu' IL
is believed strike n responsive chord III '"e i'ens
Of the American people and fuinlsh 10 '''" a. Wv
same time a safe and convenient lhNes''ne"' i'
small savings and would probably erap'e ''e Wv
orn,nent to borrow from its own citizens Whatever
,noroy I, reouires for its running expenses The
hil authorizes the issue of not more IMAM Si'V'''
Oo Of these certificates TO obtain money 10 meet
deficiencies in the running expenses Oh '''' '''
ment Thus their issue would not require so'''
which would be perhaps difficult Tor 'he 'n"HS'a ~
Get TO make their investments. The maintenance
of the gold reserve is left 10 pe P'o''' " - 49,
sale of longtime bonds
Much curiosity is felt among members VI 'oi-
eress who study financial affairs closely "o""' "e
response which the people would make 10 inc Wv
offer TO sell Su1n S"CuTltrs' - ." '''
known fact that the response Of the French people
IN the call for subscriptions to popular io'h III
49,, enabled that country TO perform the prodiSlous
feat of raising $500 10000 As a war indemnify l
was In Paris" said Senator liawey to-uH'' '"'N
ing on this subject. when the loan Oh l''i vas p'
upon the market. and the enthusiasm WIN winch
the French people-the masses-took hold OF II was
..o,h,,, ,,orde,nl Thousands waited In the
streets hours before the time for opening inc places
uher. .,bscrptons might be- made. they even De
gan 20 gather al these places the night pe'ore 'n
subscripton books were opened, ard many re'h"'"eu
in line all night for the privilege oil pei's "''"e
the first 10 subscribe The result was that the SUB
scrp;ions were greatly in excess OF me amour. "'
sired and it necessary to scale 'nen, '.""
IN order 10 give each person portion Oh u'e IA
tlonal debt which he desired to assume 90 "o'
sunpose that the demand for United states sec"r'-
tics I'm a time such this would be as great pu'
nrosu,re that a great many people would welcome
an opportunity 10 inv"s thelr SAVINGS III "''''
states securities Of small denominations s"on az
aro rrooosed bv the amendment offered TO the sun
dry civil Appropriation bill
s,ud,. of the condition OF the savings banks
NJ the United States fully confirms the belief ex-
messed by General Hawley and others familiar
with the subject that the masses would welcome
an opportunity to invest In a Goyernm@nt sou, ,
nv OF small size even at To-" rate OF Hteics..
ri. Increase of the number OF deposltOrs III haN-
lngs banks In the United states IN the l"s' IT,"
years has been phenomenal Al me cos ~ ny
,,.r h..
Sta,es vas hut Sl7 their dcpostors less than leo-
90 in number and their deposits less man 80 -
10000. Last year the number ot s'filS ANN IN
was 1924 the number Of dep0sitoIs : 49, ~, alil
the amount OF their deposits N,t' "l'-W NJ
enormous sum. II must be rcnembrIet - male mae
m of savings deposits as distinct rom oiI'-
nary business deposits The statement OF IN. on
froller OF the Currency showing the resources ana
liabilities OF the various classes OF banks OF the
latest date puts The -, dep9sns neunal
deposits nj s2e 81 So while the cash on hand in
on real estate amount 10 !179.0,le. loans on coll
lateral 10 s66 22 3s and other loans ana discounts
10 Slsi Isl 9;s In addition 10 this they have IN
vested I'm United States bonds !r,s9Si. IN STATE
county ana municipal bonds SOS. ,5o'h. IN raifonH
500 "a and I'm other stocks and bonds tioi..lN5li
Thus IL /, apparent that Of the 80 depos,
in state county municipal railroad or other
bonds stocks \ large proportion OF me savings
popular than United States bonds. ana Govern
mcni bond OF small denomination. II oiirred 7" th'
one object OF those who favor this popular loan
idea is 10 test the practcahili'y OF placing IN.
Indebtedness OF the United states IA 'h nn'dS %,
experiment OF this kind prove successful Il might
lead TO the refundine Of the Nationa indc1teIn"ss
again the students Of this subject refer 10 the
experience Of France in placing her popular loan,
was held by more than l.0ocO persons; who aver
aged 5000 each while The debi OF Eng Ia 1
persons, and averaged more than $4,000 10 ehch
hOdeT SnGe b 5he bs IN families Of hat
nation have money invested In the public funds
Under the method adopted in placing the popular
bonds or "rcntes." az they called are In
scrbed upon the books of the treasury as holders
placed in the Grand Lvre" is an honor greatly
sought after by The masscs az was shown Dy tne
thousands OF people waited in line many Of them
all night. in order 10 have an opportunity to sub
scribe to maintain the Nations credit