New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-17
For the Holidays
Cashmere
Bouquet

tactical ,rpossbty. he urged that az mes ,s1ss
,bIJoations should be pres ented at any one t'iie
or even a small percenta1e OF tn 30 ooo ooo NJ
Mr. Prince pointed out that s'" "U,tets%Gng
a.rno,5 ohligations would continue outst.nui!i,S
oFtnr the withdrawal of SrU.ooo,Ooo uuuei az t
Gage bill Besides this amount oura bani5
there would be new ISIS pe OF aNat,o he Nal
no.es under the Secretary's bin, raising '"e e. :
aoord obligations on the Government 10 g.
go 600 600 all payable in goid; ,otas
Nv cage replied that the Natonal pam ohII
would not constitute an OF ma Inc the Govern
cation against the Government, as nne 90 CEN
PAM vould be obligated on " Ii case W q nee
eral collapse Of the banks ano u"rprpebended
~ their securities. which WaS no' app-
A PRACTICAL BANKERS ENPhhlNNOH
The discussion brought from Mr.. Gage ano.hei
general statement OF all the demand ooiis".
.. the limited States He said ne spohe io-l
the experience Of practical panNer III soy
inst all the demands against Inc 1oN
,ro,,,d not he presented at o2e time ~ " nn,e
tenet Of banking that All wonld not last
~ once If they did the oarNs "ouiu ~ N
- E'cr that reason II was necessaIS o-o ~
nroylde for d small percentage Oh 'nS aTlYork'
Mr. Jordan, the Sub Irea cas- ,r,,hie IN redemp-
IA said 10 him that all the troup neo 200 ~ do
in Vas caused by the last S-V1Vo"VVvV ~ lou.
man5s The Secretary concurIcu ui "a IN a
10 therefore, 2o00O0OoO was set 49, tnrt re-
redemption fund II "ouiN'
Ieye the dem and oa tho. q con-
Mr. NewlanGs Of Nevada aSsu nni,r mnder the
tractinn of the currency woulG o CNti +beir
Serretary's bill If the banks surTehuehl,ebh were
80 and took the refunding bonds WHICH "e'
nroposed as basis for the hoiss s;,h. occur hut
" Coo conceded that this Nlght occuI; ~.
~ thonght the chances OF II were
remote. r.ss.. rnadA the point that
M, ~" hjil hanks would get circulation up
- ne mar value of bonds depcsl1eu az - ~ a
10 t"e Interest while at the same tIine ane
covernment was TO pay ~ PEI e.. ths,r ci,cr-
IN he bonds on which the banks got ''e" 'A
lation. ,rr,
~. Cage answered that the proposal OF MS
., -. o,,r a first step. II had TO recognize
w 80. ,hot the National Banking law pro-
- saoos,ts Of bonds as the basis for clrcu-
49,, That being the case. he had deemed II
-. ne a first step, 10 reduce the interest," oi
49,, hon6s When that desirable END was ac
n,,nlshed further steps could De taken Nv. 49, co.
c" ,"ir,hdrawal Of the Governments guaIahtee ~
Sanlnote issues and the interoePenue"'e "
.u.aay the hanks and the Government .o,5
tMeei. ~ o,,-sa NJ his statement Mr.. Gage sdIu
49, his hin would be supplemented a' d nv ~
Sav nv another measure, caiIsii - ca.
reconmendation Of the President VIC. t horrov
retary Of the Treasury be emf SIN0 900 OoO FOR
-, not exceeding one year. inns P -
,uid rot he exercised except at rare IT, a. a.
~ n would have a steadying erect IRON VI,
knowledge 1t gave the HArKel rlas ~ .' oasa ~
existed. With this power 10 pSai0T NV mis- bin
naa1 md the measures proVioeo py liz 49,
NJ &C saiA II would be as easy TO run 'le
Covernnent finances as to run an! od hano ~
there would be more respons 5 p o. Sion[ nd
The hearing continued untu Low ~ Go,
&c SERIAL members desired Log0 On ,.e 60
as - 1onsa Il was arranged that Mr.. cas-
sh,uId resume his hearing before Tue eo
at 10 a. tomorrow.