Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1907-12-18

banks. which had received national
deposits putting L. 5. bonds in
the treasury as collateral. have been
allowed 10 withdraw these bonds,
substitute in thl;ir place their own
collateral. consisting of state bonds.
city bonds. etc. and TO use L. ).
bonds heretofore placed as collater-
nj for government deposits as a ba-
sis upon which to issue additional
bank notes. thereby practically Civ
ing To the banks an additional cir
culation OF S24o.ooo.ooo (the
amount of federal deposits in the
banks based solely upon certain
assets approved by the secretary of
the treasury; and this to the banks
is just the same As though they had
been allowed to issue bank notes
upon these assets. Doubtless the
country may soon be full OF discus
sion OF this great subject
This congress may be ranked
high by the historian il its action
shall evolve certain things. towit !:
first that every silver coin and ev-
cry piece of paper currency shall
stand in all places and by she free
acceptance Of the people. the full
equal of gold, dollar for dollar. and
second. that every bank certificate
of deposit shall stand equal to and
be freely accepted by every man as
equal To gold. dollar for dollar. At
present all these are fully equal to
gold except the bank certificate of
deposit and they are 7ciidf The teo-
pic haze. To make them absolutely
as good as gold because absolutely
and insiantaneously redeemable in
gold on demand AT the bank is what
Mr.. Brtan proposes and what. If
accomplished. will 90 far to redeem
any faults or defects otherwise ex-
listing in our banking system. 1t
seems TO me a crime against prac-
teal craftsmanship that we should
be confronted by condition UNI
der which the holder of bank GER
tihcate-of deposit should be COM
PEELED TO discount his own check
against his own deposit in order to
secure actual money.
II is going to be very difficult for
any new democrat to do anything
this year. at least before the holt
days are over. since as Judge ii OF
set purpose. the republican party
meet every Monday. read the min
uteS. corcrct the record. and imme-
diately move that when the House
adjourn. it adjourn to meet ON
Thursday morning and then move
the House do now adjourn. On
Thursday morning the same pro-
gram is repeated. On both these
motions. ] and s. other democrats
have voted in the negative. We have
called for a division and thereby
found our strength is not enough 10
call for the yeas and NAYS. This
small fraction OF us think that
congress could be doing something
by way OF discharge OF its duty. al
though the speaker has not yet an
a9anced the committee assign
mcnts. holding the members in the
air as 10 committees. ! think. with
a view of prolonging inactivity. and
preventing. as much as possible. |
null discussion OF public matters. |
IL may be best not to pitch in with |
ont due preparation as 10 the causes |
Of the panic. and the currency qucs-
ton. but there are certainly many |
other subjects Of legislation which |
ought To- he considered and might /
be considered now instead OF our
remaining idle. ] was therefore in |
The humor to revolt. but J find on
investigating the rules that mo- |
lion to adjourn is not debatable /
and that motion TO fx tbc date to |
which the House shall adjourn is,
also not debaiable. so there is no
place which 1 have yet found Tor
RUFUS HARDY.
Washington. ID. {.