Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-11-08
SEEKS
To STEM TIDE
OF GOLD
ENGLAND AND FRANCE
ADVANCE DISCOUNT BATE
Similar Action Expected IN
Germany Where Meeting Of
Governing Board Of imperial
Bark is Called for Today


IBr a>s-s-r g~~r..s sp~eiai I~s~a VIII
Mew TprE MuF THE eaa1afr -
Az Eurspean morey msFkef ~ retain
fhelf goid reFgufHs Was Indicated ~
fme SIN g~ifanegus arfien fs1aB ~ three
- TIE large central banks " Eu-
POPE ard a raN f8F 4 meefinw gw0
ruH - the governing board - affairs
~ thf tmrsrtal bank Of Germany.
The Bank % Engsnd advanced 80
fsfe ~ discouuf from q 90 : f@f cent
= rate Whleh has not heretofore been
rsebed Einc 1&11 The BanE ~
Ff1nee advanced is regular derounf
rate from ~ per reus 20 Z notau and
nEed fhe rate fNr loans o. saCsTlneF
~ "A per cent The EsfiG1ai Bank
ol HfizIam advanced ~ rates ~ dhs-
count from ~ % : per ceut- and Dr.
Mneh governor ~ the Imperial bank
~ Germany, called a meeting y ~
governing pqard f8f tomorrow which
Al eAprrfed 70 advance The discount
rate - fha hank fr1m 3 - : per cent
ThEae nesa ments in Eurore are re-
Hzfafa AZ an iuaiaaFI9r % the aBliitF
~ &Hm Angk % command gold and
f@r Efforts ~ European hanks - pro-
frrt tHefnsFftfe aEainFt THIS aenl4nc
Even fhese high discount rates how
ever afe regarded insufficient 81 pre-
vent the farther importation ~ gold
HAANHf #HHh" MNtaAHH. AA WV 0A AAa# HMN -
credits wh8ch are heinE creafed 0g me
~ wheat and cotton The
high ate fixed - the English bank h
not e1pFefel % entirely arreat eKporfs
from London ~ New York. but r 81
counted upon 10 London q n4ualize
fhF distribution ~ tire yeiiow metal
among European MONEY cenferH ~ 49,
- ofsft dresses ~ Arerrca ~ impDfFs
~ gold from Ofaer places The fscf
HHHwH HEa H.MM 80 EHanHn HHA CD
Fanrsa ~ rate although - only Z
i~r canL egnsf1efed a recognition
~ ere fifg ~ The pFewnre up0r
are banks great gold ~rfegurceR This
srfi.sH 8 - special slxuincancf BE-
aBse L g fho consistent policy ~ the
Bank ~ FraQce - afford commerce
.he 8saf ~ : igw and uniform rate
" alaQ4nf aHd even 90 buy gold ~
p ifEs aui@Ns conditions iu the interun-
'innai mgneT marker make y neQes-
- protect D reserves THE mar
reelected the pressure fgr money
~ Considerable declines today but
.hfse defltnss generally Nefe expected
~ hankHrH Hhe looked uffou the rap
W adtanrf ODD guofafiDus ~ yesterday
Iar8iY 3usfifiea b. the situation.
There u strong determination Among
uu~fsaflve Interests fhat there snail
- 8 large fpes uiafiDn for she rise
Do me present tinye They believe that
'fsrr = movement would NOT only d.
vi t4riai and likely f0 lead % disnD-
rs n~frnent Bot fhaf Do would make
1lis ufssH f1e money marked which
usnuf Neii BE- mft under present
nhdlfHfns There Hff no doubt pow
'rfui snfruiafDnH emo Hnuld like 70
iuaNfAahf manipulation in the market
lut thf inluene@ arrsYrd against
hem are ~ strong that h sill require
afoihupd on their part No. take ans
nuffs Hhirn fs opposed o. CgUaeua-
banking 0piuiuu. The enEage-
pcnf ~ gold today brought up the Co.,
~ importation pn fha present move
nent g 'fofgs geo "a amount ahich
Fpuid hfrmif b loan expansion 90
tlan $4,000 .0es DO ~ legal re.
bad not req already Impaired
me sifuatiou in regard - ihe trust
"a gradually becoming nor
NAL The committee 80 trust come
presidents g. satisfied that their
.sFets are ample o. meet an 81 their
Obligations o. viii give them all the
.ld Required in case demand On them
continue Plans FOR reEaiuiuR
hrir odd volume - businfss are under
l"rufsfd bar VII require some time
I definite conclusions The tempo
HrE scarcity n currency On being met
'nIN generally. according 90 reports
zach tnR NeN York. b. the izgur Of
ifflfl fnrufrd checks 90 temporary 4
interest beannT notes ana ln some
~ bf scrip Issued By m~anufaciur-
aud other ~uon-uauklng corpora
iul This war veff gene
If ft-prfsd 10 n the panic ~
tf8 end practically nn trouble arose
rom ans such issues. Most ~
rp Hsuei ~ that time was payable
ifinr e spefined period. az ninety dave
F HfN munfhH. but Here issued hg the
lnEH Uith support ~ tine clearing
ffuHe and 10 was usually ar.alfHar
poo tHe paper would o. received on
Ifef 80 clearing house banks
tl- question arose at fllt tmr ua
u" hrtnff this paper could b. suh-
ia Dee Tax " ten pfr cent IMPOSED
.fHn tHf issue 90 notes f1 circulate
money OBJ individual. Yr .ns-Ifu-
bone other tnan national hHnks Tho
position aas settled bl Attorney Gene
raI t.uff otter panic was prt.u-
aIif over Iu 90 opinion 81 NaK.mhtT
3d. lFHa TIE captions of that suu-
pretty uFI expires Ifs text fhHr
fnf taN sr state banks Imposed hr
De art ~ February "a 1885, chapter