Willmar tribune., 1898-10-05
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55THE.:hEW BANKING LAW.

Congressman McCleary and his
committee are working ona bill es.
tabiishing a new banking law. The
bill has not beer; reported yet, but: az
the monetary: gathering s.. at. On aha
the bi-metallist leaders framed 26 qlles
Etions:.which they desired to be ans
wered by the friends of the proposed
measure That our readers may &C
quaint themselves with the matter We
submit the questions. Paste them il
your hat and see how they will be
answered. :,';:S !: !
Question No. Are the proposed bank notes
to be redeemable in any money but gold:%
Question No. 2-Are notes of other banks tc
be held in the bank reserves? =:
| Question No. SIS any material change sug
gested in the reserve plan of the present na
tional bank system?
Question No. lis the government to guar.
antee the redemption Of all the bank notes in
gold? y
| Question No. 5-If the government is to
! make such guarantee what provision is Sug.
gested for a redemption fund to meet it: ::
| Question No. 6-Wii sustained export OF
| gold be an Indication of an overissue of bank
| notes and the necessity OF bank note contrac.
tion?
Question No. Twill the issue or retirement
of bank notes affect prices?
Question No. 8-A. If they will not by what
methods will exports of goods be stimulated to
take the place of gold exports?
Question No. 8-B. II note issues will affect
prices will not the whole general price range
OF commodities be regulated by the banks?
Question No. 9-Is silver to be available for
bank reserves?
Question No. 10-WiI the bank notes be
made legal tender?
Question No. 11-What is gained by retiring
about S45O,00OOO0 of government paper re-
deemable in gold and turning larger amount
Of silver into money redeemable in gold?
Question No. 12-On your plan can the duty
OF the government to redeem it's obligations in
gold cease until all the silver dollars are re-
tired?
Question No. 13-Could the banks by pre-
senting silver at the treasury compel the gov
ernment to supply the banks with gold? H.
Question No. 14-How is the government to
replenish its gold fund when reduced except
by issuing bopds9
Question No. 15-Does the proposed system
modify in any way the ability of foreign ma
tions to secure our gold for export?
Question No. 16-Under your system will any
money OF final redemption remain in the hands
of the people?
Question No. 17-How much legal tender will
you have in circulation in the hands of the
people under your system?
Question No. 18-In case of a general call on
the national bank is it expected that each ma
tional bank shall supply it's own gold fund or
that the great clearing house banks will be
mainly relied upon for such fund.
Question No. l9-Is this plan in any way cal
culated to check the general fall in prices
which has prevailed for twenty-five years?
Question No. 20-Will not more gold be re
quired than is now in the country?
Question No. 21-Cannot foreign creditors
withdraw gold at will by selling American Sc:
curities in the American market?
Question No. 22-With 1900 banks in compe-
tition, does any method of lowering discounts
exist to control the import or export of gold,
after the manner of the Bank of England?
Question No. 23-Will there be any other in
ducements to bank issues than the profits OF
the banks?
Question No. 24-If the banks suspend specie
payments which are guaranteed by the gov
ernment must not the government also sus-
pend, unless it retains constantly a large gold
reserve for this purpose?
Question No. 25-Do you propose to continue
the coinage of silver on government account:
Question No. 26-Upon your admission that
the government should control the volume of
money will you suggest how such control is
experienced under your proposed system: