Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1907-11-13
ADVOCATED AS MEANS OF KEEP.
ING GOVERNMENT MONEY
IN CIRCULATION.
IMPORTATION OF GOLD FROM
EUROPE DECLARED TO BE
UNNECESSARY.
GENERAL CONDITIONS IN FINAN-
cIAL WoRLu GEcoME MORE
FAVORABLE.

st. Paul, Nov. president Stick
ney of the Great Western railway IN
an interview advocates a national
bank in which the government shall
deposit its treasury funds. He said;
Official reports of the United
States treasury show that on last
J Thursday, October 81, there was
locked up in the sub-treasuries, idle
and useless, the enormous sum OF
27,170,057, actual cash, while ali
the banks in all the reserve cities OF
the United States had suspended
cash payments and the movement oil
crops had stopped, and laborers were
! compelled to accept shocks for
wages instead of checks, all for wan
of currency, which want of currency
the banks are trying to relieve by
the importation of about $30000,000
of gold, or about one quarter of the
amount held in the treasury idle ana
useless. Can any system of govern
ment banking be conceived OF which
would pro0uce more absurd results!
Let us have a national bank which
is not only good enough for the PEG.
pie to deposit their money in, but al,
SO good enough for the government
to deposit its money in.
Ten Millions on Lusitamia.
| New York, Nov. bringing $40.
100000 of gold to the relief of the
! banking and financial institutions of
this country, the Lusitania is hurrying
for New York ar her swiftest pace.
A report from the captain of the
Lusitania, received by wireless, says
tina. at TO a. m. yesterday the ship
| Was 919 miles east of Sandy Hook
The Lusitania left Queenstown at
/ 1880 a. m. Sunday and according to
this report has averaged 24.50 nautical
miles per hour. Continuing at
this rate the Lusitania should reach
Sandy Hook bar at midnight Thurs
day. If she aecomplishes this it will
reduce the record time for the pas
sage from days, 10 hours and So
minutes to 4 days, II hours and 30
minutes.
Cashier Attempts Suicide.
Kingfisher, Okla, Nov. Guy Con-
dit. cashier of the First National bank,
attempted suicide yesterday. Anxiety
over financial matters preyed on hts
mind until he became respondent.
His accounts with the bank were cor
rect.
Generally Favorable Conditions.
New York, Nov. 7.-General condi-
tions of the financial situation were
favorable yesterday. The runs or the
trust companies had practically ceased
under the encouraging influence of
support OF the trust company com
mittee Cold engagements were fur
Their increased and the stock market
! rose buoyantly in recognition OF these
conditions.
Trust Companies Guaranteed.
The announcement by President
King of the Union Trust company
that an agreement had been reached
| by which the Trust Company of Amer
lea and the Lincoln Trust company
were to deposit their stock in the
/ hands of a committee of trust com
pany presidents and in consideration
of this were to receive all the support
required, finally cleared the air in re-
gard to the trust company situation.
Now that this matter is settled 1t is
believed the situation will gradually
simmer down. With the continuous
arrival of gold the stringency is CON
verted into a plethora of reserve
money in the banks, which usually fol
| lows a crisis.
Additional gold engagements we're
announced yesterday of $l,500,000.
This brings up the total Of gold en-
gagements for America on the recent
movement TO S37,500,OO0, which would
afford the amount required for legal
reserve against deposits Of S15O,000,-
600. The gold which arrived Tuesday
was deposited yesterday and that
brought by the Lusitania will soon be
! in the vaults of the banks.
May Boost Discount Rate.
| While there is still some appreheD-
sion regarding possible efforts of the
Bank of England to check the outflow
of gold from London by raising its 4s-
count rate on Thursday there is a
strong feeling among conservative
fnanciers here that the directors OF
the Bank of England win be very re-
! luctant to fix rate Of discount which
I has not been touched since 1873.
! The strength Of the stock market
was the reflex of the improved feeling
throughout the financial community.
1t is believed The stock market has
pretty well discounted the worst and
that prices are laot likely to go much
lower, even In case of new disturb
ances.
Must Be More Conservative.
It is understood that arrangement
| by which the committee Of trust con.
pany presidents takes control Of
majority of the stock of the Trust
Company OF America anG the Lincoln