Morris tribune., 1908-01-18

NlSlOu is ludL dill
bank notes under this bill are to state
upon their face that they will be re-
deemed by the United States in law
full money upon presentation at the
treasury instead Of bearing the pres
ent legend that they are secured by the
guarantee of United States bonds de-
ps,>ited with the treasurer. Another is
tt. banks must carry 10 per cent of
IL il reserves in their own vaults.
Tle bill provides for an additional is
sue of bank circulation, which shall
nut exceed in the aggregate $3.50, O0O,-
OG' subject to tax of per cent and
which may be secured by state, county
az municipal bonds. An important
provision is that giving the secretary
of the treasury and the comptroller
dir elton as to the necessity of this
adtii ional issue and the amount to be
put out, The bill is understood to
have the vigorous opposition of Charles
n. Fowler, chairman Of the house COM
mi;;.:," on banking and currency, and
its !A>l. in the lower branch Of congress
is ,'rp.'ematical.
Wars Government Newspaper.
Congressman Hobson Of Alabama,
fam lis as the hero of Santiago and
later Of several kissing campaigns, is
sal to favor the establishment by the
government of an official weekly news
paper for free distribution. for which
he. wishes congress to appropriate
&c
tain IA summary Of the work Of con-
gre and all departments Of the gov
eminent so far as it might interest the
pub.;c He says the journal is intend
ed to form connecting link between
the government and the people and
that the project grew out of his hav-
ing ascertained that a vast amount of
valuable material did not reach the
pe'>''ie for whom it was intended. He
thi1,>si the publication of such paper
W. remove distrust and suspicion and
c'';l:e a renewed interest and conf
de among the masses in govern
nlr:taf affairs.
Knox Fathers Labor Bill.
The first bill to overcome the objec-
tionahle features Of the employers
liza ability act, which was recently null
lifted by a decision Of the supreme
court. has been introduced in the Unit
ed States senate by Knox Of Pennsyl-
vana It is drawn in such way as
to make it applicable only to corpora
lions engaged in such commerce as
congress has the undoubted right to
control and to employees of such cor
porations as are engaged exclusively
in interstate commerce.
Financial Bill In House.
Following close upon the action of
Senator Aldrich in introducing cur
rency bill in the senate, Representative
Fowler introduced bill on the same
subject in the lower house. This bill
provides for a uniform banking sys-
tenn, uni:1rln bank reserves consisting
of gold coin or it's equivalent, simple
monetar. system consisting of only
three for:::S of currency-gold for the
bank reserves. bank credit notes re-
deemable in gold for the larger bills
and silver for he smaller bills and sub
sidiary coins. 1t also provides for alb.
soiute protection to all depositors in
national banks by placing in the Unit
ed States treasury a guarantee fund
which by January. 1909, should approx
innate $5000O,OOO. and finally the estab-
lfshment of certain rules and regula-
lions whereby the financial operations
Of the treasury shall be so conducted
that the government will cease to be
disturbing factor in trade and COM
MERGE 80
Hale Backs Brownson.
Senator Hale, chairman of the COM
mittee On naval affairs in the United
States senate, has introduced a bill
which will it is thought, open the way
for an Investigation Of the controversy
between President Roosevelt and Rear
Admiral Brownson as well as some