New-York tribune., 1897-12-19
kNAPE PfANo.
PRONOUNCED ny
HANS Won BULOW
ABSOLUTELY
BEST IN AMERICA.
WI. Il KNAB BE 4 co..
14S Fifth Avenue. Nenr Goth st.
CURRENCY BILLS IN THE HOUSE.
MORE THAN a SCORE OF THEM, COVERING NEAR
LY ALL PHASES OF TIE SUBJECT.
w ~. Il y A BE 4 co..
14S Fifth Avenue. Nenr Goth st.


Ly ALL PHASES OF TIE SUBJECT
Washington Dec IS (sperlaD.-There Is abun-
dance of the material Of banking and currency
legislation III the possession of the Banking an"
Currency Committee OF the House Of Representa-
tivos. and nearly every phase of the subject Is
covered by the and more OF bills that are
pending. besides the draft prepared by Secretary
Gage. The most elaborate OF these is the one oI-
fered by Chairman Walker. which has been
revised by him a number OF times since II was hrSt
proposed several years ago. The general scope ana
purport OF this measure are indicated by the re-
vised title. which reads as follows: TO so chanRe
the National Bank act TO secure to the people in
all sections OF the country an equal opportunity
10 freely use paper money
The title OF another bill offered by Mr.. Walker
(by requesO is "ro modify the National banking
laws : 10 provide the people with a safe. ample,
elastic ana cheap currency" \ third bill offered
ny Mr.. Walker. also by request is TO call in ana
cancel the paper money now iniuring the prosperity
( the country" This bill provides that National
banks shall not be hereafter required to deposit or
Keep United States bonds To secure their circulating
notes, hut shall nc entitled TO receive such notes 10
the amount o. their paid-up and unimpairet cap-
tai and shall he compelled keep the cash reserve
required by law in specie. not less than one-hat
of which shall be IN gold.
Mr. Rrosue OF Pernsyvaria, VINO IL membe-
OF the Comm,tter Barking and Currency. has
introduced two bills. OF whca il: TO increase
the redemption o. legal tender and United States
Treasury notes" In brief. this bill provides !or
the issue 20 National banking associations OF cir
culatng notes TO the par value OF the bonds de-
posted by them and for the reduction OF the
tn1 circulation to one-feurth q: 1 par centum
per eDHu-I. IL also contains provisions for the
establishment Of National banks With a capital o:
not less than 33s.ooV IN places with . population
not exceeding four thousand Inhabitants and for
the setting apart Of 1I25.UD.Np In gold coin and
equal amount In value o, silver bullion at lis
market value Jul; |. 1896 reserve fund
Cor the redemption on the greenhacks and United
States Treasury notes. The other bill contains a
, single section authorizing the organization OF Ma
tonal banks with capital OF no; less than $50
on in places containing than six thou
sand inhab abiiants. and OF banks with capital OF
. not less than $4,000 in places containing a popu-
iation OF not exceeding three thousand Inhabitants.
Mr.. Cox, OF Tennessee. who heads the minority
Of the Banking and Currency Committee. H. the
author of three currency reform bills ono of
them provides for the repeal OF the State
banks and state banl, assoc aions. the second Is
for the better control OF and 10 promote the safety
Of National banks" and the third Is ito regulate
National currency and to provide for National
money" by providing that any National banking
association may take on. circulation 10 amount
not exceeding 75 per cent OF its paid-up and un-
impaired capital upon depositing with the Treas
urer Of the United States currency certificates.
greenbacks or Treasury notes.
one Of the more recent contributors to the
literature currency reform Is Mr.. Johnson. OF Indi
ana who is also "A member OF the banking ana
Currency Committee His bill provides for the
issue OF circulating notes to National banking as
sociations TO the fun par value OF the bonds de-
posted by them
General Bingham OF Pennsylvania, has also in
1 SSnms TO par
value OF the bonds deposited by them; ana re-
ducing the tax on circulation one-fourih 81 per
cent per annun. He has alsO or@fed Dill 10
fund the greenbacks ard Treasury notes wi,n bonds
sr GsaFns ober '5er One Of he other PURPOSES IS
provision making the bonds feconyeTune ab m % hnoo
the same character OF notes silftndcred IN sums
Of not less thar 81 90 each synopsis OF the pro
Gently published in these dispatches The bilI Of
Of the committee provides for the issue Of crcula,
| ton 70 the par value OF the bonds drpos ed ana
iaton TO one fourth o. per cent per annHm, ana ana
also authorize the organization OF Ea0nai IaRxS F
nnson act OF iSs2 by repeating the provision which
Ii' pns Of tns iawfnl T5'Gn mSn:y to $4,000 month
One Of the more elaborate bills pending Is that
0rTfa cnblr 'S Of T shc commt,ee on Ban1 and u
rcncy The bill consists Of twenty ve sectiohS s,
2nG 2dsa It's as scG9f 6ows f o amcnd the National Rank
ac take the United States doSi out refoT OF 5ne
| he currency insure dcpositors, improve ana ex,
tend our bankrg system. and to provide FUNDS !"
'&ps Wsm Alden Smith Of Mchlgan, has s. i1tr0; intro
laws and Mr.. Skinner. North 'arollsd ip,1c, opu11t,
has offered one directing the Issue or pme,alu,
nortEcstes and 10 maintain the parity OF gold ana
/ silver at the present legal ratio. ,,o., ,,o,
| MIR Lewis of Washington, is OF the Opnion ,In. ,
! the existing laws for the protection ol ocPo,'of'
| in National banks are inadeqnSe; an1 II" rcnkips
OF Wisconsin has introduced BIZ authoriZns airS
| National bank, with the approval or inc Sc.
Of The Treasury. issue circulating notes 10 en- ,l,
mn aInount and value OF It's capital stock by hrs
delivering to the Treasury OF the nlted ntat"S
| security therefor any United states reglHuey.u gf
| bonde crcenbacks god certificates. silver cef'lH
! Gates Treasury notes silver dollar coine1 pr
| 70 March 1899 10 amount, face value, equal
10 It's capital stock This bill also providcs thn. any
National bank issung notes 10 te iu d nntes an
sbaIl not be required TO have on hand any part or
| amount OF ts deposits. 49,,
| Mr. Mccall OF Massachusetts. has offered lby re-
ouesu a bill to provide for Uniform curienGhy
Trc9eurv Department OF a Bureau OF Currency: the
| nhtect Of which shall be the conversion OF all
| demand obligations Of the United states into one
uoiform Kind Of currency. separated from all other
,nnno."rv affairs of the Treasury. from all compn
nnfnns with the deposits and all other transactions
| or hanks and always and under all circumstances
| rcdeemable in gold on demand