The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-04
MORE CURRENCY 1INkERlNe.


1t looks the country would never cease tinkerns
with the money question. 1t is always the old song
dance OF noneastc currency mixed with greenbaeks
unredeemable shinplaster on silver basis or by
gold standard It has believed that the moniet
interests and its henchmen and out of congress is
responsible for this periodical tnkerng than the
pie. Now Mr.. Ridgey the comptroller OF the cur
rency in his annual calling attention the dsad
vantages and arrangements its operations cause in oul
financial matters. He says
There could be better Illustration this than its
operations in the last few months The result has been
TO needessy lock and take Of circulation
of money just at time when it badly needed for
ing crops and transacng the regular business OF the
country The relief afforded by the purchase of bonds by
the secretary of the treasury only partially emporar
lily meets the difficulty and repairs the damage done The
mistake Of maintaining this system after the business OF
the government and the country long outgrown
should be corrected and the business community be given
relief from its operation taking money out of circulation
when most needed If the secretary of the treasury is
given authority that he arrange
the collected deposited with the national banks and
kept there until needed done under such regula-
TONS restrictions and supervision TO insure the govern
ment against loss give relief present system
Referring to the criticism which of the
act of March A. 1900 to the effect that it prop
ery safeguard the gold standard but leaves it possible
for the secretary of the treasury practically undo the
effect of the act by departmental action regulation
without further legislation the comptroller says:
IF the act can be made stronger by amendments and
the gold value rendered more secure from
future uncertainty should without any delay
while the question is still uppermost before it gets
showed to side by the number questions
being urged as subjects for congress.
Since the passage of the act of March IA, $780, the
total amount of circulation outstanding been increased
from $254026230 to $3.50 u.s. increase of
Al per cent
"The provisions of the have also added somewhat
to the elasticity of the national currency.
leaves much be desired the way elasticity
the lack Of which the greatest fault our national bank
issues.
Congress has already had discussion and consid
Grafton various for the modification
onal bank currency There is much discussion the
subject by bankers and nancers, and many plans
urged for adoption Somewhere between the views of the
ardent advocates Of asset currency those oppose
it with vehemence unsafe and unsound in every
spect there should be found middle ground
the enlightened countries the world those
which have the satisfactory banking systems
to incorporate features of this kind with
bank currency in such to in impair its safety
but add to its efficiency and usefulness in other respects
Under laws asset currency be used sup
ply emergency circulation for which there pressing
need not supplied by national banks.
people become used to it and its good points the
may be extended Progress in this direction should
national bank notes and the fact that looks
at note to by what bank it is issued has populazed
them with people, and there will always be strong
sentiment in favor of letting well enough when it
comes to changing our bank notes.
This question is however becoming pressing and i'm
mediate In the future it will have be determined
by congress what shall be with the national banks
made in the various kinds of money in cir
culation"