The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-12-08

where mos, u, 'strenrth and protection ~
loose unrelnted units IN NivH TraS,s of our
and Isolation the greatest WcHsnn,'nd
banking system IS now 10 we
THE CURRENCY. =,
Having presented as above the uei eo.
o,r h,nking systtni In their larger aspee"
I venture now to speak Of that imPor'an'
,,odirn, NJ exchange designated the cur
rcncy. meaning Ivy that word paper n'U"V',
vhotber issued by the government Ut ~
thc banks under the powers conlerreu up'D
tbcm by the law Excluding treasury NO.
of Isqo now IN course Of cXtlhcuon' si'''
certificates and gold certificates Whicn rep
resent actual coin held for the rcdempuoN'
more are now cNtant In the pupIie sei''.o
34G.OCOO0o Of government notes
barksl and "a little more than 3ooVOo'"0o VI
/ National bank notes. Neither 9l ms ,Ter.
( win economic propricty be 'alieu noms' r.,
WI ,,nm,., 1uav are alike promises 10
nav. and theh value rests upon unv thy
~ Inc maker of the promise 90 pellV' ~ ~, A.,
otti,,4ii rr SGT forth IA the pfOlnlsC' Cn"., I
fine nruyi slous and conditions oi thV =" ,b,sn |
il nos, -tuuds, the limit ~ volume VI 80 /
nbiuatious Is substantially Itncuu'". "a Lv /
the grccubacks, thelt uuGuuIu Fly. INK notes.
stutuIt White In the case OF VIZ JUN ~
min yolume is practically llmlieu d"u I. 80
iTolicd by the market price OIL hite LII tot
bonds. This Is So because oahhvls ."altnnsi
any more than other men, ASSUME Ieap' ma
i,i 10 nr risl; without material motlNt' "nH /
tho present as well as Lle Pto9pVtn.t' my /
al United states bonds roDS Danhs "a 'T51
motive for the ,"sSf 1 m,lUf the carefully
mr., nurrd tables Of the government 49, a., 80 IL,
SNOW to National DUN y jntSresf is / per
q locality where lne I "tV tn seventy hun
cent au advantage 'tU't u,t,n,n an note
drr,ths OF / per cent per "hnVh ~ mo
Issuing while Ia q to per I'm and In an
pront is hftyonc hua4Itr "u,..,,,o bindreltns
to- D..
Thrse ugurcs ooncuSlN''{ SuUN diroci' on
scucr Of inspiring motive III lnt ~ cir.
OF any material increase III n "nn that
culation H. is, therefore 70, rpstric.
lions be modified, thr country ~IP.t any
paper money can not ne I'SP"u4 ttts notnr
material increase in deWahN. ~ No an.
il is also wise TO keep IN n.nu ~ o,I.-
popu,ltion. now HggrpslLlnS "uUn' ,,,.,e,..,
0pn win in the next hllF EPdts 'u'.-rt
. 10 a probable l9GU''WA II 'ue 20 nan
volume OF paper money rs ~" ~ .a n
ade0uatr to the present p'Pu"lIV" q" "ho "a
current domestic trade. ~ vs. ''IutNL
, timely provision must be maac ,Va ' re.
, siItl, increase to meet the th.iislhS
n,ltrprnpuiS Of larger population anu .'
trsasiua lllde. The question Is NOT I'.
4 mote It i- immediate. II, men. ne it.
. in o''ttb that ''fir is ndexibo not responsive 10
p . rossIplc supply 10 future rolu!rem'uiH' ,u
what way can the element az supply NV
n mnda adattahc IN deWIndt ~
% In ,yh9t has been already S3ld undet In+
d head Of "RluF0g" ir has been uuthiuuy
@ shown. ihluE. That 40 its broader S.AS
$ Inc CURRENCY which our larger intrrha,
Do commerce uSre consists of transfer '-ttI :
" or checks. drawn against credits Epplel
n nv hanks I'm furnishing these 3eiltS 10,
rart Bnde its profitable occupation, &nu
In fboir MS, thrt;e who carry on trade m,
81 nrosrcufo Industry md FIterprise huo
n mai, needs ON thr whole wolf served Nov
b., tbaro Is M dinareuca whatever i'm rrin
ii ,,nic befvern tbn hanks obligation to pay
/ r,'rreesrd hv a ,.la,ist ON their books, aA'