The Washington herald., 1907-11-02
PLAN PLEASES THEM
Banks Generally Accept Mr..
Ridgely'S Proposition.
SENDING IN MANY INQUIRIES
Nearly Million and a Half Dollars in
New Currency ISSUED to National
Banks which Have AvaiIed Them
selves of the Method To Increase
Their Note Circulation.

AZ the cfoea oF bt,ei,,a.. ,.+.,-s,,- .
the ,rrsss,,,.,. 1,--..,.,,,,.,. ., aoa 49,,
'''''''i' ''l ''' "
'i0S 'au "v1h ISSUED TO hauohal
banks winch nave aFaiied themselves OF
Comptroller OF the Currency RidceIv-s
plan To increase their note circulation.
Mr.. Ridgelv also had o, file roor. tb,,
4l9 cor,r,,,,i-,ti,-. ~. -. s,-
,..t..-, '' '''' - o-''
''''o'''i '''Ns lh various parts OF the
country
=" " HidJoiiI3 ot instances the COM
''''iis stated " determination to
''Ny '''' necessary Steps To- issue more
''''iN A''7S' ana the letters were Tor the
i'i's1 part inquiries whether certain spec
iHed securities would Dee accepted for the
proposed increase of currency These ap-
pliCations win D.. ts1-... .,, .s-f,- -,
da,- each N F.. .!..of5.s .i,- -
ana .,,.,..
'9 fi''"PuS @9 p'S
'' many instances Ihe communlca-
uohs We're inquiries as to what steps
should be taken for banks TO avail Them
selves of ComptroIer RidpeIv's Milan
Officials a+ tb. -rr,..,,.,- i-.,,.,,,,,..-
ComptroIler RidgsI,- ,,-.r. .,ir,,-s- ,,..r+.iT
~ 49, 1850 were diliust certain
Efsf n
and additional notas $50 ,..itif,, -,
few da,s o,. - -s-.-'i vi. '''
pressed thar tba ar3e,I,t 80 -,o,,. ta-l-
currency. to b. taken ont unIar tI-i. ,,Ia-,
viii be about S29 GOO all. some ofrici,ls he
Geve the amount may roach Ss- f11 AM or
$4,000 900. but M l7rasaur fbasa aetir,a+ls
are largely conjecture. II NAV be as
sUmed thar the amount will he large
enough to afford material relief to the
money market.
a.
m
pi.Iii % permitting national banks
'o substitute state ana municipal bonds
loI government securities now lying in
the Treasury vaults as surety for the safe
keeping and return of government demos
It's In the banks. provided the released
bonds are used as n basis for new issues
oi bank notes, is working out much bet-
Ter than was expected. Il has been found
ul3J bankers in many cities are eager. TO
substitute minor securities for the gov
eiAIllent bonds, under the conditions pre-
S1iined' ana the conclusion is that the
paHheIs generally are alive to the neces-
lli'S q. securing an expansion of the cur
'V'el 10 meet The business needs of the
',.hiIy-
nc success or the bank currency plan
- aH JAe more acceptable because the
lieasu'y Is not IN situation just now
'' hlale any more large deposits of gov
giiineilt money IN the deposiJary banks
i ne actual working cash balance in the
l.y -le''slry vaults yesterday was less than
Si-''''ov'. me so-called cash balance
amounts ln dII 10 S25..oW.lb, but Of this
--"i' tAan $-VuV,ye Is already on deposit
s., -',, "''i.NS, ana aoout e2,yn."9 is
Islands '"e I"lippiAe
The monthly srarar,a,+ IF +,., o,-,,t..,,.,
Of the Treasury was issued vesrrr57v
The customs receipts are srfil holding
up, and the internal revenue collections
were also larger in October than I'm the
same month OF 1906. The receipts from
all sources during the month were $50
l2>.245. as against S57-24l 500 in October of
last year, but the expenditures for the
month were larger than last year The
total Disbursements in October were sos
7fAa7'. leaving surplus for the month
OF %i>S,NA For the first four months of
the current fiscal year the expenditures
exceeded the receipts by &.955.5I5.
expenditures Tor all purposes during
inns hseal year have been larger by $ls.-
'>i.'d7. The largest increase has been on
account OF pupilc works. the advance un-
Ger inns mead pelng IN me first four
months Htlle more t-an >iV.'N,u'N The
next ldi sesl increase mas beeh uhaeI Jhe
ute or CIFh ana miscellaneous. In
tAis Hea mere mas oeeh an increase OF
"p""l"a 'i f'''.V''''' mere was an IN