davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Battle With Flames.

New York, November 10.-Dlscovering
fire in the hold, Saturday evening,
crew of the Norwegian freight stear
Talisman, which arrived here today fire..
Havana, battled with the flames for
hours before extinguishing them. The
steamer was off Cape Lookout when
smoke was discovered pouring from the
forward hold The matches were at once
battened down and a stream of water
played on the fire Considerable damage
was done to the cargo, but tie vessel APP
parently sustained no injury.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
New Railway Mail Division.

Washington, November 10.-Postmaster
General Meyer today established a new
division of the railway mail service with
headquarters at New Orleans and ap-
pointed H. M. Robinson assistant super
'i.tendent of the new division. 1t will be
known as the twelfth division and will
comprise the states of Mississippi and
Louisiana and such railway postoffice
lines outside of those states as may be
assigned to it. Mr.. Robinson was for
rrerly assistant superintendent of posts
at Manila.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
LOCAL PROVISIONS.
New Cotton.
Meats.

Meats.
Rib bellies, 11011.73c.
D. s. extra sh ort ribs, 10000.
Smoked clear bellies, 12hc; fancy.
lac. a,,y co,,.o
MIA, Sc. a.
Lard. leaf, l0%c; compound. 7%c.
Pork loins. lie; spare ribs, 81c.
Ham butts, lie; Boston butts, 10hc.
Shoulders. SIC.
Brains, SC; beef livers, &c.
= Pork sausage, Shc.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Live Stock Market.

Chicago, November 10.-Cattle: Re-
ceipts, 5000; market steady to 1Oc lower;
steers, 81 4O@7.6 cows, s3.2003 80; heifers
;l5O&460; bulls, $250D4.5O; calves. $1,000
1885, stockers and feeders, $2.50q4.85.
Hogs: Receipts, estimated. $1,000; mar
ket weak to &c lower; choice heavy ship
ping, s6.00aG.15; butchers, So 0o1610; light
mixed $545G5.65; choice light, $550QS. 80;
packing, s5.6OG5s5; pigs, A.25a5a5; bulk
of sales IS. 50Q5.75.
Sheep Receipts, estimated, 10000; mar
ket steady; sheep. $4.50Q500; lambs, "a. Is
06.10; yearlings. $3.8505.@.
ST. Louis, November 10.-Cattle: Re-
ceipts, 5000, including 600 Texans strong;
native shipping and export steers, IS. 0OSs
7.65; dressed beef and butcher steers. $3.50
1885, Texas and Indian steers, So. 500
$50; cows and heifers, $2.00@3. 50
Hogs: Receipts, II, 500; market &c to 10c
lower; pigs and lights s3000550 packers,
S5.6OG5.sO butchers and best heavy, $3.50
@6.071a.
Sheep: Receipts, 400; market 1oc to 15c
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11

Southern Railway will sell
round trip tickets to Wash
ington, D. c., on Dec. 5, 6, 7
and s, limited to leave Wash
ington Dec. 16, at the special
low rate of $23.25. The only
afternoon train. Through
sleeper.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
New Orleans Cotton Market.

New Orleans, November 10.--Spot cot
ton was easy today at unchanged quo
tations; middling 15-16c; sales on the
spot were 2200 bales; to arrive, 1850.
Futures opened steady at an advance
of to s points under an accumula-
ton over night of buying orders from
outsiders. Cab5es were disappointing
and first prices were the highest of the
day. Longs sold freely and profess
SIGNALS sold short with the result that
the market fell off SOIL points to a
level where the active positions were
at a net decline of 4@7 points. The
market was dull and narrow during
the las. half of the session with the
decline well maintained except on the
spring months. At the close the mar
ket was steady and prices sh lowed a
net decline of SOL points on the nearer
positions, May standing unchanged
Mavy OrIAane Hotfon Ett<urae
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Bonds.
Money on Call.

New York, November 10.-Money on
call, easy; 1902 per cent; ruling rate,
2 per cent; closing bid and offered at
Ia per cent; time loans firm; so days,
8 per cent; 80 days, 81 @3% per cent;
six months, 4 per cent.
Prime mercantile paper, 4@4h per
cent; sterling exchange, steady, with
actual business in bankers bills at
$3.50. 6O@4.S3.S0; 60-day bills at
$4.S5.70 for demand; commercial bins,
$4.S3A@4.S3ss; bar silver. 4sBc; Mex
lean dollars, 45c; government bonds,
steady; railroad bonds, irregular.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
NEW CROP
NEW CROP
Shelled Pecans
New Crop Pecans in Shell
Fancy Mackerel
Mince Meat
Olives
Olive Oil
CLARKE BROS.


Southern Railway now the
popular route to Jacksonville,
Fla. Train leaves 4::25 pm, ar
rives Jacksonville 9:15 am.
with through sleeper, making
connection at Jacksonville for
all Florida points. Winter
tourist tickets on sale.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Coffee Market.

New York, November 1p.-The market
for. coffee futures openeSf steady at un-
changed prices to a decline of points
undcc scattered Liquidation and selling by
trade interests in the absence of import
ant support Prices held around the in
itiuI figure on small volume of bus
mess, The close being steady, net I'M
charged to 5 points lower. Sales were
reported of II 800 bags including December
at Size; March and May and September
OF 5.35c.
Spot quiet; No. Rio 615c; No. 4 San
tos, SIZE; mild coffee, dull; Cordova.
9AcQ1?1ac.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
FOR SALE-Cheap, coupe
nearly new Make offer. Biz
mingham Garage Co., Ave. B
and 21st street.

Seaboard, on time line, new
fast schedules, four hours and
so minutes between Atlanta
and Birmingham; only one
night out to New York.
Through sleepers and dining
cars. Phone 1882.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Dry Goods.

New York, November 10.-The dry goods
market is irregular. Jobbers are doing
a better trade on holiday and seasonable
goods Bleached cottons staple glnghams
and linens have been advanced from &c
to szc yard. The demand for dress
goods for spot delivery is better. Cotton
yarns are 1sc a pound higher for the
lower numbers. The miscellaneous ex-
port trade is steady and some inquiries
are In for goods for China. Innings are
being advanced in sympathy with the
increasing demand, and the sharp ad-
vauees named on gray goods.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Interior Movement.

Houston: Quiet; miodling, l-16c: net
receipts, 03,O9S; gross receipts. 81, 09s; ship
n.ents, S5,34O; sales. 1906; stock. 1O9.7sS.
Augusta: Steady; middling s1-16c; net
receipts, 1880; gross receipts. S945; ship
ments, 1920; sales, 1908: STOCK, 81,074.
Memphis: Steady; middling, 9ssc; net re-
ceipts, 6475; gross receipts, 500; ship
ments, 1914: sales, $3.50: stock 13S, 709.
ST. Louis: Steady; middling, 9isc net
receipts, 1913; gross receipts, 1908; ship
ments, S240; sales, 215; stock, 22,750.
Cincinnati: Net receipts, 1856; gross re-
ceipts, 1885; shipments, 1868; stock, 10, 212.
Louisville: Firm, middling, essc.
Little Rock Steady: middlirg. 9%c; net
receipts, 5000; gross receipts 5000; ship
ments, 752; stock, 1929.
Total today: Net receipts, H3.4e0; gross
receipts, $780, shipments, Il 094; sales,
6l79; stock, 413,766.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
lower; native muttons, s425@45O; lambs.
. ea6ae M

lower; native muttons, $425Q4.5O lambs,
s5.50a6.OO.
Kansas City. November 10:-Cattle: Re-
ceipts, 5000, including 800 southerns !;
strong to 15c higher; top, $3.50; others
steady to strong; choice export and
dressed beef steers, $6.00Q730; fair to
good, $4.5OQ6.0O; western steers, $3.75&5.00;
stockers and feeders, $S.0OQp4,7s; southern
good. $45O@6O0; western steers, $3.75Q5. 90;
Hogs: Receipts, 10000: market &c to 10c
lower; top, $685.; bulk of sales $5.25Q5. so;
heavy, $5.7eD5.85; packers and butchers.
So 4O95.S5; light, $1,000 Is; pigs, $3.5O0D5 90.
Sheep: Receipts, 1000 mar <ct strong to
10c higher; lambs. $4l25; ewes and year.
lings, $4.00d435: western sheep, $3.401450 +;
GDQ@stockers and feeders, $2.7f@400.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Naval Stores.

Savannah, November 10.-Turpentne
firm, SS1ac sales 1858; receipts, 9e2; ship
ments 74S.
Rosin firm; sales, 1899; receipts, 4156;
shipments, 2210; stock, 1911 Quote: A, B,
C, D, E, $2.S7l2; F, $.2921a; G. 1895; H.
"a. 45; I, So. 95; K, s4.s5; M, $3.50; N, $3.50;
WIG. $780, WV, s6.4O.
Wilmington, N. c., November 10.-Spirits
turpentine steady, 3715c; receipts, % casks.
Rosin steady, $3.50; receipts 124. Tar firm;
$1.9O; receipts, 100. Crude turpentine firm,
si.75. $275 and $40.
Charleston, S. c., November 1O.-Tur-
pentine steady 8S14c. Rosn steady. Quote:
\, B, c, s2.70&275; D, s2.7Oa9. 10: E, s2.7Oa
TN; F. 81. 1907. TN; q, $2.771h@2. s21h; H,
50 35; l. s.. So: K. s4.7594.sO; M, IS. 1906. 20;
n, $3.50; VIC, Sc. 20; WV, $6.25.
New Orleans, November 10.-Receipts, n
barrels rosin; "a barrels turpentine. Ex-
ports for New York, 25 barrels turpen-
inc.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11

Southern railway, the only
afternoon train to Washington
Philadelphia and New York.
Through sleeper with dining
car service unexcelled.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
New Orleans Cotton Futures.
Open. High. Low. Close.

New Orleans, November l0.-cotton
spots easy. Low midding 11-16c
nominal; ordinary. SIC nominal; good
ordinary, 15-16c; low middling, S
5-16c; middling. 15-16c; good mid
ling, 3-16c; middling fair, s%c; fair.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Treasury Statement.

Washington, November 10.-Today's
statement of the treasury balances in
the general fund shows: Available cash
balance, $3.50, 4O0,629: gold coin and bull
lion, sS4 ,6o3,SSO; gold certificates. .$4S,-
077,570. II :.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Cotton Seed Oil.

New York, November 10-Cotton seed
oil steady; prime crude 9O1ac; prime yell
low, 3S4Q39c.
New Orleans November 10.-Cotton seed
oil, prime refined in barrels. per pound.
8 cents
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Postal Changes.

Washington, November 1o-(Special.)-
George j. Noyce is appointed postmaster
at Burbank. Washington county, vice M.
Haas, resigned.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11

Try The Gawk for half-tone cuts
Age-Herald building.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
Liverpool Cotton Market.

1880 nominal. Receipts. 26,Se4; stock,
222382
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
FIRST NATIONAL BANK

THE OLDEST BANK IN BIRMINGHAM AND THE
LARGEST IN THE STATE OF ALABAMA
The capital surplus and profits of this Bank
amounting to than One Million Seven Hun
dred Thousand Dollars form buIwark Of finan-
cal strength which assures absolute security for
all deposits
United States Depository Interest Paid Savings Accounts
Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-06
MCKINLEY MEMORIAL.
Notable Exercises at Unwilling IL
PHILADELPHIA

PHILADELPHIA. June 6.-In the pres
ence of large crowd iife-size statue in
bronze of President Mckinley. erected on
he south plaza of the city hall. through
private subscriptions of citizens of Phila-
delpha and vicinity, was unveiled today
with appropriate ceremonies and present
ed to the city by the William Mckinley
Memorial Association. Following the un-
yelling formal dedication exercises were
held in the Academy Of Music. at which
James Nj. Beck who was assistant at
torney general of the United States at the
time of President Mckinley's assassi-
nation was the orator.
The statue shows the late President in
chara cteristic attitude when making a
public address. The pose is dignified and
the expression on the fact portrays that
combination of dignity and serenity for
which Mckinley was noted. The statue
is the work of Charles Albert Lopez.
sculptor. now deceased. and Albert H.
Ross. architect. The statue stands on
granite base.
Prior to the unveiling military parade
was held in Broad street.
The monument was unveiled by two vet
Grams of Philadelphia. Lieut. William G.
McEwan ism. retired. who lost an arm
during the battle of Mobile Bay. and
s;ergt William Ramsey. who lost leg in
the battle of the Wilderness.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-06
Surgery. in Consumption.
ila'ielphia LEDGE

From tie Philadelnhia Ledger.
Medical men and the public have both
grown skeptical about sensational dis
coveries. DR.. kOchs serum and Brown
Sequard's elixir are sore points with tho
profession. and the lay public has taken
these occasional disappointments to mean
that curative science does not fully under
stand its business The furora over mr.
LorenZ when he came over here to treat
a case of hip disease. Gained by the early
conclusion that he knew not thin.
which every competent operator did not
already know. put surgery on the sta nd
for popular questioning.
London specialists declare that remark
able results have attended improved
methods of using the knife to cure con
sumption. The profession will calmly say
that further experience and great don |
of it will be necessary before surgeons
commonly take to cutting out disea sell
lung tissue. The public will be advised
to refrain from indulgins in hope of end
ing the great white plague with edged
steel.
The report from London il interesting
as is every fresh item in the news Of
battle against the scourge. The toisomr
and yet splendid contest has reached a
stage where science can make a showing
of reduced ravages. If only small per-
centage of cases are proper subjects of
surgery. IL will he blessing that there
is ii percentage at all
Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-06
ASSIGNMENTS TO PULP1Ts.
Where Delegates to Good Templar
Convention Will Preach.

Assignments TO local pulpits for serv-
ices 10 he held tomorrow were announced
at the session Of the International Grand
Lodge. |. o. G. T.. today as follows:
Second Baptist Church 4th and Virginia
avenue southeast. II am, Rev NJ. Bruce
Heikleham. Scotland
Congress Street NJ f. Church 31st
Evans of Wales
Waugh NJ T. hurch. Sd and a streets
northeast. pm, Rev. j. w. Hopkins,
England.
North Carolina aAvenue NJ. p. Church,
North Carolina avenue and Sth street
southeast, s pm. Rev. Robert Woodside,
Scotland.
Calvary Baptist Church. Sth and II
streets northwest pm. State Senator
Cotieril of Seattle. Wa.h.
First NJ. p. Church. 4th street between
r and g streets southeast, Pm. Rev.
W. S. Todd. Scotland
Church. of the Epiphany. q street near
18th street northwest, s pm. Rev. j. AL
fred ReeS. Wales
Rhode Island Avenue NJ. P. Church. 1st
street and Rhode Island avenue north
west. $40 am. Sunday school address,
Rev. Morris Jones, England.
First Congregational Church. 10th and
q streets northwest. mass meeting al 8
pm. in charge of Rev. f.. {. DlnWlddie,
national grand electoral superintendent
Brief addresses by John Nelson of SEQ;
land. Tom HoncSman. Scotland: Guy
Haylcr. England; Mss j. r. Ford, Sco;-
land and others.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-06
DIR. w. F. BoYAK1N DEAD.
Versatile Career of Noted Veteran
Closed at 1O2 Years.

MARYSVILLE. Kan. June Cdr. VIII
hanson +. Boyakin died last night in his
lGod year. He was reared In Tennessee
and Gen. Andrew Jackson gave him a
college education and assisted him in the
study of law. He afterward took up
medicine practiced until 1874 and then
became Baptist preacher. In 1857 he
went TO Oregon territory and campaisnel
in favor of statehood Returning to
Belleyiile. Ill. he purchased a newspaper.
supported Stephen A. Douglas and report
ed the Lincoln and Douglas debates.
When Fort Sumter was fired on he en-
tered the Union army as chaplain of the
18th Illinois Infantry. afterward became
a member of the staff of Gen. Grant and
was with MIN at Belmont. Fort Donelson
Shiloh. Iuka. Corinth Nicksburs and
Chattanooga.
In 1854 at the special request Of Pres:-
dent Lincoln. he went TO Oregon and
campaigned for the republican party DR.
Boyakin had lived near Marysyille thirty
nine years. On his 10Th birthday he
made memorial address at Marysviile
that attracted wide attention
Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-06
THE COTTON Markets.

NEW YORK, June 6.-The cotton mar
ket opened steady at an advance of | TO >
points on covering by some of yester-
DAVIS sellers. who found the weekend
figures less hearish than they had ex-
pected and who may have been inf1u-
enced against carrying their short lines
over Sunday by the appearance OF a low
barometer northwest of the belt and the
fear of further overnows in the south.
In absence of shorts the market ruled
quiet during the middle of the morning
at about the initial figures.
Futures opened steady. July. 10.13;
August, 99S: October. 9i9; December.
939: January. 9.3j.
Futures closed steady. Closing bids:
June. 1915. July. 1915: August. $50: Sep
TENDER $50: October ?.Ib: November.
!.44: December. a.4i: January. 40 Feb
ruary. 80: Marcn. 9.4o.
Spot cotton quiet; middling. lilo: mid
ding gulf. 1856.
NEW YORK, June 6-The market
closed steady, With prices net 3a1O points
higher.
Estimated receipts at the ports today
aon bales against 1891 last week and
4 1915 last wear. For the week. 5000 bales.
against '6.oII last week and Bless last
year Today'S reca ipts at New Orleans.
4 49, bales against 1.5H; last year. and at
Houston, 1.351 bales. against j41 last
year
Liverpool Exchanges Closed.
LIVERPOOL. June 1.-THE cotton and
grain exchanges are closed today.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-06
Government Securities
BUYS UNIMPRovED LOT.
Purchaser Proposes to Build Hotel
Near Union Station.

4 large piece of unimproved property
in the vicinity of the Union station has
Just changed hands. 1t is on the west
side of North Capitol street just south of
E street and overlooks what will be a
portion of the public grounds south of
the station plaza. providing the squares
of land are acquired by the public as
provided in the bill which was before
Congress at the last session
The property was owned by j. B. Fenno
of Massachusetts,. and was sold by his
agent. Allan F.. Walker. to f. O. Whit
ford. The ground has frontage Of
sol, feet by depth of 12o feet. and con-
tains 1855 square feet. The consdera-
ton was not given but it is supposed that
ii was about $4,000
1t is understood to be the purpose of
Mr. Whitford to erect there a hotel. but
he does not propose to begin building
until something more definite is known
in regard to the future of the property
on the east side of the street
Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-06
REAL ESTATE TRANSFERS.

HARLEM-Thomas H. Pickford ct Tx. to
Jesse w. Starr, part lots :. 3. 4: Sla
Jesse w. Starr ct Tx. to Harry r.
.Ausherman. part of same property:
so. Jesse w. Starr ct ux. to Andrew
\. Caudell, part OF same property
1916 sTH STREET NORTHWEST
Elisha p Taylor ct Tx. to Barbara {.
NJ. Trautman. north half of lot 81.
square 400: $40.
INTEREST-Joseph J. Mccarthy to
Mary f. Mccarthy. all interest in es-
tate of Justin Mccarthy: SO
MANOR PARk-Wiliam NJ. Terrell
trustee, to H. X. Stoner, lots - to 80
square a267: $40.
ESTATE-Edmund V. Rice ct al. to
Laura c. Rice. life interest in estate
of Edward V. Rice: $40.
NORTH GROUNDS COLUMBIAN UNI
NERSITY-Harmon s. Palmer ct ux.
to Henry F.. Wocdard. lots % and a.
block 40: $40.
CONNECTICUT AVENUE ADDITION
TO CLEVELAND PARk-John l..
Warren ct ux. to Walter R. Frey and
Alma F. Frey. lot }. square 221s: SD
WHITNEY CLOSE-James B. Gallagher
ct TX. to John Schickler, lot T.. block
1: $40
THIRD AND f STREETS NORTHEAST
John s. Kemp to Mathew G.. Lepley.
part original lot 1, square 531: SO
Mathew G. Lepley to John S. Kemp
part same lot: $40.
MASSACHI- SETS AVENUE NORTH
WEST between 18th and 18th streets
William T. Wright ct ux. to Mary F.
Sculy. part original lot 20, square lbs;
WEST WOODBRIDGE l. Vieth ct
al. to Joseph Maddren. lot II, block Z.
$40.
WOODLEY PARk-H r. DuIany ct al.
receivers. to Luther \. Swartzell, lots
IL to ~. block IS: s.
1850 18TH STREET NORTHWEST-M
Jaeger to Bernadne Kerr, lot L.
square SIG: 10
t22 JACKSON STREET, ANACOSTIA-
Josephine L. elliott to Arthur f. and
Bertha Moore. lot 80. square 800; SO.
TRINlDAD-Frederick ". Pilling ct ux.
to John W. Pilling. lot &c. block >; $40.
l1o6 \ STREET NORTHWEST Ameri-
Security and Trust Company. trus-
tee. to H. Morgan Hill lot n. and part
lot - square 159: Sl9nm
SEVENTEENTH STREET NORTH
WEST between r and l. streets
David b. Murdoch To Franklin r. San
ner and William A. Hill. lot %. square
lie. $40
THIRD STREET NORTHWEST. between
q and r Streets-Annie jefferson to
Clarence B. Thompson. part original
lot IL. square sol: 10.
EIGHTEENTH STREET NORTHWE EST
between G and II streets-Mary j.
Girard Slack ct al. to Addie s. Parrine
part original lot ~. square al: SO.
NJ STREET Southeast. between LIST
and n streets-Ruth l. McEaney ct
vir. John j.. to John F. Leary part
original lots and :. square 7+o: $40.
EIGHTEENTH STREET NORTHWEST
between G and II streets-Addia S. Per-
rine to Mimi" &. Dodd part original
lot ~. square 141: $40
Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-06

Nothing very eventful occurred at to-
days meeting of the stock exchange
This was not surprising. as it was Sat
urday. a day without happenings. unless
the conditions are exceptional.
AS the government is 10 have every
thing in readiness for printing money
law when it may be called for. it is nat
ural the banks which are to take out such
currency should ALSO be prompt in doing
what is necessary III their part to carry
out the law. In other words. the plans
are being made to make use of this law
in event the occasion should arise.
There may he no need in the near flu
ture for the issue of single note. In
fact, that is the confident belief of those
who are in a position to form good no.
ton of coming financial needs.
At the same time. il. through some UNI
foreSeen contingency, another money pan
ic should seize the market then. With
everything in readiness and the macnin-
cry for the issue of the notes in place
there will be no delay in making use of
the aid which this new system would un-
doubtedly furnish at such a time. AS
has been pointed out. the authorized addi-
tion to the currency of the country
amounts to an aggregate that about rep
resents the total issue of clearing house
certificates during the late panic and the
amount OF government money OH utposlt
in the banks OF the country.
For this reason the provision made ny
the new law is thought ample TO furnish
the circulating medium needed without
any help from the United States Treas
ury. In addition to the United states
bonds held by the banks and upon which
the existing national bank circulation IS
exclusively based. other assets of TIE
banks. such as securities. including com
mercal paper can he uSed-to secure cir
culating notes. In this way the resources
of the banks can he readily turned into
money at a time when. owing to various
actual money is Withdrawn from
circulation and there is no market for
securities.
As a means of making more general
Use than has ever been possible before of
the resources of the banks of the country
this new method. il is thought. is going to
prove of benefit to the public in saving
them from high rates OF interest and
various manipulative courses which
fixed currency system is credited With
having largely foStered.