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

.,ore II ~ pies"
F,,isS.asry y' that this circ , lin,,s
,..oo a with the clearing NOUS >,
dea..sss 10 such advantage II
n, W.. We b,ing safer to the extern
cities, us Uni is stronger than a
c'seI' ~ hanks and having the
lgn~ ,eit Of Of being available to ne
lank y ~ " forCotten that after q
70. W o,,t this circulation. all OF
taxen ovrsisaced. and IT has moth
~ b. legally oneren 10 ,, ",,V,,,V :;
a. 1ai1n.s N but II 1, has discount
: .nother. bank, at the time 'his
anV 'sssred. this would seem TO
y us .,, NJ The circulation on the
Contemplated that me govern &c, n
% y me assets would operate TO
n ~ 40 10 meet the demands
e y" me lien would be operative,
w! snch assets as were found
III nS mad actually failed; to
esa~ we would he providing a
s.s,rh. instead of being q bless,
r. he Immediate death kheii
II applying for II. ,,.. ,,o
S.,t form q varying quantity,
moi, capital FIRST and then de-
, nm 4 might seem that this circu-
IA vary in strength. accorolnE
~ ~ large or smaller banks. l
.u,s,on that the smaller banks.
0ps,sn,sction the circulation Is
hyHiseG would he the moro de-
I since the loss by failure OF a
,hsse would hardly aggregate
allure of one large bank.
,.,sfion Of this circulation the
GA, is borne only by the banks
Ecs in the benefits, but an in
h levied on the stronger banks.
NE tax on bond circulation up
WI per annum. The one merit
h,tnry exaction is found in the
M new burden Is imposed, and
Il simply continued as an aid
General happiness and security.
deyoutly.to-be-w con-
has been reached, even this
Of injustice can be 0bated; and
"a Is not an impossibility. for
nix fails the government at once
notes from the fund provided
cpose. but such an amount as
lment realizes from the assets
a banks is again paid back TO
from which originally taken.
tendency of this .und would be
b increase all the time, ana
y reached a fixed amount. 10 be
by the annual mortality OF
the tax on the bond circulation
etuce1 so as not to exceed the
a!rements for expenses of the
~ department..
Urgency circulation has been de-
the special view Of meeting
!. Disturbances OF an unusual
there Is no reason why it could
DE available for the ordinary
(mands Incident to our annual
nenis, unless II be that. having
y government from an unhappy
la'ion with the greenhacks, IT
unwise to precipitate another
srce with bank discounts.
Var contention that a govern
On the assets Of a bank would
The disadvantage and distrust
lliers is without merit, since
s's now have the right and do
/ 10 pledge a bank $ host as
necessary to save 1. from dis
tmple change Of form in the
'he loan does not Increase the
risk on the contrary the gov
u, being devised specially for
o1ers a certain harbor OF
p Danger actually threatens.
" per cent of the bend cir
Be kept with the comptroller
Ha purposes, | have acted on
~ that IL a deposit Of s per
iifed for the present circula-
er percentage would he neces-
u increased circulation.
y widest degree of circulation
asal bank notes, / have pro-
eahks own notes can not be
part Of Its legal reserve. the
y prohibition being to st.mu-
ta.sllon. am not quite sure
u pank notes can be made a
under our constitution, and
sealiul that II no, vested with
PAYING power, We could not
god, except by allowing a
.Ae gold, q contingency to be
II u Is more desirable that
10 move side by side and In
Z q fact value.
K " permitting incorporation |
y 4 minimum capital Of 81. 900
!hs benefits OF the system |
~ districts and among COM
ause means restrict them to
,sneslment; the system could
sae pan Of being devised for |
sMny, unless its blessings |
ny me fullest Emit common
s.sIy. Since one of the grand |
s.' a bank is to draw from |
' IN Circulation the aggrr-
..u.sommunity, 1t follows that |
10Y 1noa Of the banking system
nj. we nave performing its
'u'nS In the economies of |
,u'hiefren,s for reserve cities
~, ~ beyond population of i
N I, VI many OF the States
!, ~ y circulation within their |
X ~ teach State would have
M. ne productive power of
=, again. this more uniform |
s ryu.o sensibly diminish the
sss, since, when money is |
ior n.y.. one given quarter and
t.,., GUY simultaneously the
Il. aho more INN. dIately
t,n Nm aaa,Vsement was more gem
~ over q larger area.
ue denominations of the |
Wy denominations of $50 and
!, hereof. have purposely !!
its rae Ny tne circulation
payer representatives.
'ssed on government bonds
.ue' and am reasonably
we Plan outlined for the
sMsni Of the greenbacks;
40, No.. Of flexiblllty be accepted
h.. "''em embracing the three
n, aimed at in my promises,
ann. s..aeht to the enjoyment
,s s'a virtue acting as a ,nw-
is "a. !, 'owards sound banking.
sycIys ,whole be feasible, II
Esr.et T. 'herefrom a banking
to lnv.,, us every detail Of
|ays,slon e. new Organizations
he III ~ t, q State ana private
tor IL $500 w of grecnbacks.
lsrplan,sds me bond circulation
by National bank
~ "a, 4, AZ X. objection the sys.
'slcal ~ an, me maturity of ihe
su S,ssSlInes to assume as ,n,e Is nya that !
Rental, We should not be
h p4naa Ntra!n of thin,anp Tor