Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1902-03-07
FOR AN ELASTIC CURRENCY
senator Dietrich Suggests Emergency
Money to he Used in Times of
Embarrassment.
F1om a stan Corresnondentl


WASHINGTON. March s.-(special Tele-
gram.)-senstor Dietrich today introduced
resolution calling upon the committee or
| finance to propose an amendment to tht
banking bill providing a plan for a mors
elastic currency. In explaining what ht
meant by an elastic currency Senator Diet.
rich said II was intended to issue paper Il
perform much the same functions as those
OF clearing house certificates issued By
the New York banks during panics. He
thought It could with entire correctness bt
called an emergency currency and that II
should be lien upon the assets Of bank
Ex-Secretary Gage was in favor Of some
such measure, and II is understood that
Secretary Shaw also looks with favor upor
an amendment Of this character.
I'VE must come TO this proposition
sooner or later" said Senator Dietrich
''and It would not surprise me to see II
made an issue In campaigns OF the near
future. Many banks we're compelled "a
fail in the past just because they did not
have authority to issue currency to tide
them over a temporary embarrassment.
For one. believe we should add such q
measure Of elasticity to the currency as
would prevent failures. especially when the
banks are known to be solvent Canada
has system similar to that which have
! thought about and II has worked with such
good results there that believe we could
well afford to try It here. make no sug-
gestion In the resolution as to the subject
matter OF the amendment. All desire is
to have the committee on finance consider
the question and in it's wisdom amend the
banking law so as to provide for the emer-
gencies that come in almost every banks
history"
The president sent the following nomina-
tions for postmasters in Nebraska to the
senate today: John G. Mitchell, Alma, vice
Jerry b. Billings; o. A. Ashbrook, Hebron
reappotntment; Frank NJ. Kimbsll. MeCook
| reappointment; Theodore c. Hacker, Red
Cloud. reappointment; A. F. Enos, Stanton
| vice H. F. Stephens.
The following Iowa appointments were
also made: F. A. Turner, Avoca; John Bird
Parkersburg.
Representative Robinson called on the
commissioner of Indian affairs today in be-
half of John B. Hermann, contractor for
the school building at the Genoa Indian
school. Hermann is asking for an extension
OF sixty days in which to complete the
building, the extremely cold weather OF the
last thirty days making IL impossible Il
complete the structure within the period
named In the contract. Commissioner Jones
said that IL Hermann could get the endorse
ment of the superintendent OF schools and
the consent of his bondsmen he saw no OBJ
lection to granting the extension prayed
for. Incidentally Congressman Robinson
| took up the question OF back pay which d
due Hermann on account Of the new school
building. The congressman was informet
that the delay In making the payment wa
due to the large amount Of business whicf
the department had been called upon ts
transact since congress convened.
At the request Of Senator .sMillard tbs
First National bank OF fsincoln was made
full government depository today.
Senator Kittredge today introduced a bill
granting settlers the right to make second
homestead entries. The bill provides tha
any person who prior to the act entitled
AN act providing for free homesteads OF
public lands for actual and bona hde set.
tiers and reserving public lands for thai
purpose" having made a homestead entry
perfected the same and acquired title to tn,
land by final entry by having paid the pric,
provided in the law opening the land t.
settlement, may make another homestead
entry Of not exceeding 100 acres Of any pub.
lie land in any state or territory.