New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-10

PLANS OF THE MONETARY COMMISSION
OUTLINED.

THE REAL WORK TO BEGIN on MoNpAY-A
THOROUGH sT1-DY OF CURRENCY AND BANK
ING SYSTEMS PRoPosEp-A GREAT MASS
OF DATA ALREADY COLLECTED.
! Washington Oct. a-The members Of the None
tary Commission will meet again Monday morn
ing and begin their real work OF investigating the
currency problem II is not likely that the Com
mission will take another adjournment for so long
n time until IL finishes its labors. During IFS orief
session its time devoted to discussion OF the
mature and scope OF It's work and 10 organizing 80
| as to carry out It's mission In systematic fasn-
! ton The work was divided under three general
! heads. metallic currency. demand obligations or
! the Government and the banking system. The
! Commission divided Itself up to handle these
three subjects with the following committees:
T1n i,' Lotls A. GARNFTT. OF california
J LN,'RENCE IAUGHILN Of Illinois.
Demand obsatIons OF he ne
York. J. W. FRIES % North csrolira. GEORGE ?
EpaiNps OF vermont
IN the Gansing. syst,m-ChARiEs : FAIRCHlLp +
~ Minneapolis. GEORGE +. LEIGHTON OF Missouri
In The mean time the secretaries have been busy
classifying and preparing in convenient shape the
data and suggestions that have already reached
the Commission. Much Of this matter had ac-
cumuiaied in the hands Of the Executive Com
mittee before the Commission was appointed. and
a great deal has been received since that time
Chairman Hanna OF the Executive Committee ar
ranged a simple scheme for the preparation OF
this data As II comes before the Commission it
Il all on paper Of the same size. perforated Tor
fling in convenient shape. That pertaining 10
metallic currency Is paper tinged with bun.
The paper on which the data concerning Govern
ment demand obligations is presented has green
ish color and matter concerning the banking sys-
tom a. Oh red-tnted paper All the matter Is pre-
pared in duplicate. one copy for each member OF
the Commission. and member can tell at a
glance by the tint OF the paper whether 1t per
tans to his own committee one OF the others.
Thus Will. each gives especial attention TO
| the matter with which his own committee Is &C.
cupicd he Is keeping in touch with all that comes
before the other commit and there Will be- OF
course. frequent consultations Of the whole Com
mission
| The Executive Committee did not cease opera
| tons when the Commission appointed and or
| gained In tact. Chairman Hanna regards its
work az only begun. lie regards the Commission
| as IA quasi judicial body to pass judgment and
make a report on the matter presented to II. and
will see that experts finance and banking are
| brought before the Commission to give their views.
| and that all data obtainablc from all parts OF the
world properly presented.
| WORK LAID OFT FOR THE COMMITTEES
The work Of the Committee on Metallic Currency
! will he the simplest OF the lot. The Monetary
! Convention declared for a gold standard and this
| committee will probably report the same way.
| though it will make investigation OF the opera
| lions OF the single gold standard and the single
| silver standard in various countries. well the
efforts to maintain a bimetalc standard and will
| report on the result OF its Investigations.
The Committee on Demand Obligations Of the
Government has q much more difflcult task II
will report on the history OF the various paper
| currency systems the world has known and give
| It's estimate OF the value and the effect Of the
various systems OF paper currency.
The Committee on Banking will not only investi-
| gate and report on the various systems OF banking
! the world has known but will endeavor to make
| such recommendations az Will In Its Judgment
bring about a better system OF oanKng ~ tne
| the idea that American methods or oank'ns 40
NOT afford the facilities they should Tor the Small
| farmers and men OF moderate resources
/ the members Of the Commission recently that
think can possibly be obvlated IN tne nrs' p,ssSe
orr banking facilities and banking capta miSn'
! IN advantage be somewhat more evenly oisrin ,
u o"a method OF doing away with this thing OF
Sav,ns money comma nd and 10 per cent interes'
in the Southern and Western, asrics snnnd when
munit.s on paper that IL perfectly sou wm nar
!, wiIi only command AZ and per cent on paper
!, va. n o' souudness In the Northern seaboaru
S,,,es Then we should find way 10 ehcou, ,as
he making Of small tb ISi ands Expression in the
nn mari demands for currency innaton arises
,nm The fact that the man or SINAI, !esou i
aanda II dficut II not impossioie 70 op.sm iva"
at ha ba%ks do not care to bother with loans
70" than Il OO and have never heard OF tnem
u NJ one Tor less than 500 YET man EnS ncs
= single bale OF cotton one huhoreo ""'"''' -