Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1902-03-10
AS TO CURRENCY
Measure MateriaIized by the Re-
pubIicans That Makes Some
important Changes.
BANKS TO CARE FOR THE RESERVE
Gold to BE Exchanged for Silver
Other Provisions of
New Measures.

Washington. March 1O.-Chairman
Fowler. OF the house committee on
banking and currency. has introduced
I'll important financial measure framed
BY the Republican members Of the
committee. after conferences extend
ing through the last two months. 1t
brings together into one financial
measure Il number of propositions
which have been urged separately
heretofore Fowler explains the pur-
pose of the bill as follows: THE pur-
poses of the bill are: To transfer from
the government to the banks the re-
spOnsibility of protecting the necessary
gold reserve and the burden of fur
nislIin2 gold for export. thereby saving
our commerce from the destructive ap-
prehensions growing out of raids up
Oh the gold in the treasury. which can
now only be repienished 10y Il tax i'm
posed upon the people through the sale
of bonds.
Other Things 1t Is to DO.
ITO provide Il currency always re-
spOnsive and equal to the demands of
trade everywhere. and to equaliZe and
lower the average rate OF interest in
all parts of the United States; TO Sc
cure for American enterprise ana
American capital the privileges and
opportunities in engaging in interna-
tional banking under national law and
so lay n foundation upon which to
build an American merchant marine;
to remove the last vestiGe of doubt
with regard TO our standard of value.
Clearing House for Currency Redemption.
The United States will be divided
into clearing house districts to facili-
tate the current redemption of the
bank notes. so that the amount of
notes outstanding ut any time always
will be cO-Ordinated with the amount
OF trading to be done, precisely as
checks and drafts reflect the amount
of commercial work being carried on.
BY and with the consent OF the board
Of control. banks may have more than
one place for doing business, being au-
thorized to establish themselves in the
various cities of the country
Gold in Exchange for Silver.
''No bank note of a denomination
less than SO will be issued, and the
secretary of the treasury shall not
issue silver certificate Of a denomi-
nation greater than 50: and thereafter,
upon the presentation to him of 100
silver dollars, or any multiple thereof,
and a demand for their redemption.
shall exchange gold coin for the same"
Doings in the House.
Washington, March 10.-The house
Saturday closed the general debaIe
upon the bill to classify theorural free
delivery service and place the carriers
under the contract system. During the
session Sims of Tennessee, speaking
to IL question of privilege involving
the presidents Interpretation of his
permanent census bureau law, de-
clared that the conferrees on that bill
had deceived the house as to section
, of the bill (the civil service Section).
The speaker ruled that the subject
had been disposed of and no question
of privilege was presented. Hughes of
Virginia offered n resolution declar-
ing that it was tn intention of the
house to ignore the civil service law
as to present employees of the census
bureau above the grade of unskilled
labor. and that this resolution carries
out such intention.
Fight on Cuban Tariff Concessions.
Washington, March 10.-Sunday
brought something of Il lull in the agi-
tation over Cuban reciprocity, al
though the elements for and against
concessions continued to prosecute
their plans. Those who oppose the
ways and means committee continued
70 assert that they had list showing
los Republican members. with some
- more doubtful If this claim could
be made good it would be decisive in
the coming conference. But Chairman
Payne and his associates, while giving
no figures. do not concede the strength
claimed by the opposition.
President signs the Philippine Tariff Bill |
washington. March 1O.-The presi-
dent has signed the Philippine tariff
bill.