The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-05-24

tribunal we ,nu,, puolc oplnIcs 4
dcI,, piincsieal Operation a; ~
currennv ro y, connection Stt "
mr. ne, sa.e Of a fixed on,,,.
or an amount about eovnu,n,ity 4
o,u.standing volume ~ 70 U
.ieasufy notes, az n hss,. tltess
circulation would limiisS mia, 10 ~ is,s
.he banking System ~ we I'm
tlon OF the proposed is., a ctI
nateiy contract aha cI, sue aad ri
ie eit vi me present Natioc.u,0s
s .auoh. 70 provide assiS .s' ~
senrles l have left ~ s' M M.s
,aeNloie quantity and kpp,Nopassl
tate OF interest az " nW ~
.he most economical b ~ csei
maintained at par, aifnrI1ss u
iiihe n prom, to the hsrS.
ing according to the loc.,,,Ie mt
being in = per cent loosuy O u
, uni'. 10 each $1,000 bonds s az " "
~, ~ m per cent locsli,Iss "
, ,,ut' 70 each $1,000 bonds ~. -
"a an ~ per cent local,,t.s ~
,a, TO each $500 honds ~ ~ "
tdl. NV VI r.
= n recurring the bank, IA ~. !,
20 per cent of their caM,si ~
the lowest per cent Nkss aN
the different objects In visy. y y
To summarize; The pr.s,o, ~,
OF the National banks i h ~.
bers. ss5s.oco,ooo, Is per cent !, N, M
o"'ooo' deducting from this III !,
bonds already held for circu],,,s
have s2sa.ooo,ooo; the dlrsr,.s.
the bonds now held for ci,snl,.,'
Ooo'oOW and the actual cI,cuI,ss.
wo, ov~ is S25.oOo.OOo. lncrsa,I., !
cuiation to the par Of the NJ
amount of sreenbacks could i. :,
tx substitution of the sans y
National bank notes. Now al
cocoon to the s2Si, 100, 900 rstirsS /,
OF new bonds. and we have NJ
sreenha, KS retired. the natu.s \
culdtlon having been CHANGED Z.
out any contraction. With tNSs =
backs retired, the blessed IN;
OF sipo,pNu, 900 is no longer a nse,s
this in retiring a like amount :,
back and we have S4OS. OYl d, ),
way. still without any con,ns1
ductins this from the total r;
sisf; nc, ooo. and Wa have SS,0Qes /
backs to provide for. /, M i,
ton this Volume would no, b r,
gerous. but | am going to arr
gradual retirement by the sIa,
the banking system. The amour, a
necessary to carry out these Idr
S2s3. 900. W| required TO bring M
tson Immediately up to Is per cit
ital, sSN,poo.0oo TO retire the M
greenbacks and 10 help along Il.
bic expansion Of the banking I'd
$40. o0p. 100 to replace the bonds n
against circulation, the most Il
mature IN 1907. making q total III
0pl bonds. maturing fifty year
respective dates of issue The VEt
objection to this plan would Il I
mediate withdrawal Of the e,tN
holdings of the banks, TO ews,i
payments fer the s28.0DQ,M bni
gold would 70 into the treafuI
cancellation Of the greenba,n \
came in aud while il w2uli n
work ihr5ush the arteries d M
| into the banks. the process wosl!I
SLOW am not prepared to "
| the effect of a complete atsese
from tine banks would be. but
think the effect would he more VI
than otherwise. | must submit G.
tive proposition. accomplishing
ultimate results. but scattering
or 49,, s,nq the gold holdIta
banks 10 any appreciate eIt.:.
sum 80 We still make y eois.
thu hlnlss 70 huy bonds and kn
,ion ~ Il per cent OF theit cary!
the nmullI. of bonds to be az
ono tinio to the discretion Of M
of the treasury or comptrolle, Il
c,,nt,,l vim s9lO 600 OOo ALREADY
y wn,mi1 ioav,, only ,iie.oo0,0( %
which amount would praensaas
the preenbacks now he'd oy
without touching the gold; n
500 ooo go Of graenbacks e
tho ri. m gold reserve; 81
is poiI ont it would gradual!
mo fhs banks, and when b.
had rs,@ r esi G 3ss 1 ssn ia' 81
per cent purchas,e ,s Of boGd' I.s sH
n un,I al 4 She the E r. h'"
abIv for The reasons stated y n
, ,Tu that hat the sacred gold ,', \,
n s' operations, as ,.is 9s
fer The many barassinss ino n,sss
greoulackS. tiu., rnowledst "