Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-01-28

WASHINGTON, January 21.-The Na-
,ional Board of Trade, at It's meeting to-
day. adopted the report Of the committee
on banking laws. 1t was the opinion OF
the committee that there should be cs-
tablished consistent and deubcratyely
planned financial system. TN. plan pre-
scented was briefly, as follows
First-That gold coin shall remain the
standard money.
Second-That steps should be taken 10
retire all United States notes i'm such "a
way as not to disturb business relations:
that national banks should be allowed 20
issue currency TO the par value Of the
bonds and the tax on circulation he -
duced. and that banks be allowed 10 issue
currency based on assets under such MAJ
tional supervision and restriction as will
make it safe. elastic and redccmable iu
gold at bank of issue and at tlo city OF
New York
Third-That such banks Of issue with q
capital of $4,000 or more. be- authorized
TO be established IN towns and villages
of less than 1900 population
The committee on the subject OF a mon-
otary commission made n report n which
Congress is asked 10 create 81 commits
sion 10 consist Of eleven persons 90 be app
pointed by the President two OF whom
shall bc selected from the Senate commit
tee on finance and two from the House
banking and currency committee. or the
other seven members. two shall be bank
crs Of recognized experience and ability.
two agriculturists of prominence. Two
merchants or manufacturers OF standing.
the remaining member to be selected ou
account OF his recognized ability and
learning I'm the science Of politica. ecor-
omy.
In no event shall more than six mems
bers be Of the same political party
II is % be the duty Of this commission
10 enter upon thorough and comprehon-
sivo consideration Of tho currency and
banking affairs of the United States and
laws relating thereto.
on or before January 7. lWS. they shall
make a concise and exact repor, of their
deliberations TO the Congress. together
with a proper bill designed TO carry their
recommendations into effect.
In case Congress for E9A- - a..g Ills. Ills
10 authorize the appomiLiea; OF this com
mission the board declared it's approval
of the alternative plan OF the indianapolis
convention to appoint such 20 commission
itself.
The committee 10 which was referred
the subjects OF a monetary unit" and
"IntcrnationM coin. mad report fa-
voring the change Of the coins of tho
United States. Of Great Britain and or
Germany 80 as TO correspond 20 th"
common unit OF France. Spain and other
European countries. which contains -
grains Of gold nue-tenths Gn. equal iu
value To- the French dye-func pie., rhe
passage of the bin now before Congress
for an international coin was reccm-
mcndsd.
The passage of the Torrey bankruptcy
bill and the establishment or depart
ment Of commerce were also favored
The committee on waterways and l1r-
Dor Improvements made a. report.
which the present system Of letting c9r-
tracts for such work WAS condemned i'
was stated that worthless bonds OF failed
contractors to the amount Of several m..-
lions were now lying iu the treasury "f
the United States. No prosecution should
Ice initiated against these hond=men ana
the result was that responsible cor'rac-
tors. as well us the people. We're constant
~ being defruuded. The Improvements
the Philadelphia harbor was cited as
case I'm point.
\ resolution was adopted calling me at-
tention of Congress TO the general sIi-
jcct of the uon-prosccutiou OF the bonds
Of failed contractors.