The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-03-24


Reserve Bank may recall oil bills that u
may buy aud do all things necessary for
their collection.
q II should be privileged 10 deal In BALL
lon and contract for advances OF bullion
and give security therefor and pay In
ieresi ON such advances.
: Have the right to purchase and 20
.eil bonds Or Treasury notes Of the United
states
The right 10 issue circulating notes
pa yabls ON demand In gold. such notes
TO be secured by bills bought by the bank
under provisions TO ). aud by gold to
the amount OF az least n Ia per cent. Of
he aggreGate amount OF notes outsiand-
ing at the time.
. II should establish BRANCH onsce-
10 " should have the privilege to re-
quest hanks or trust companies deairOus
Of awaiting themselves Of he services to
keep With the united reserve bank or Its
branches a cash balance commensurate
With the scope Of the business done by such
member.
~ L. and it, branches should have the
privilege Of joining the clearing house
associations Of the various cities
The chief criticism that has hen raised
aGainst a central baRk - that n u subject
to the danger OF control by either politics
or finance Nould this danger exist un-
control Nobody could do so n . provision
acre made that the s'o,k should ~ divided
among the ~ aaO hanks of the United States.
But even without such provision there
Ould n no danger on this score fOT
man OF q group OF men acquiring the
whole capital stock Of the united reserve
hank would after all only acquire the
right to appoint q feN members OF the
board. who would h. in a hopeless. minority
Ina ~, fNff h. nh
ing associations Of the whole country and
sgainsi the members repre-eniinR the
Government
Narrower from the point Of view Of an
Investment n would not paw. because any
earnings IN excess Of per cent. would
go to the Government. ana far a. eon-
Germ. any help that " might have been
he intention OF securing for speculative
ventures or aggrandl2ement Of power
this aim could not be achieved BY q con
troll Of = hank restricted IN iis dealings
70 the purchase 81 short paper from mem
ber banks nd Of aper HAVING 10 run w o
three monks. which could only be acquired
exclusively from the banking asaocia ions
Would " ~ repugnant to the sO-called
Amer ican spirit? l. U an I'M American
instHutionP Ny opinion = that IL l. q slur
and q SANDER upon the American people
to say that Ne sre morally or politically
utterly unnt that Ne cannot afford 10
adopt q system for which Russia. Japan
he Balkan states and some Of orr Sout h
American SISTER republics have proved
adequately prepared and which even China
seriously thinking 81 e~ta bli>hinE in the
near future believe that our people
will wake up 10 he humiliation Of our pres
en' conditions and that hey will demand
m no uncertain voice a thorough modern
izatiOn Of oar system
In this Tezp~rt Abraham i.incoln- fra
political speech which he delivered a.
New salem IN s5s. may be Of interest," He
"a vi
rFRIENDs NND FEILow CITiIFNs am
plain Abe Lincoln I have consented to
beCOme . candidate for the Legislature
Nv political principles are like tho Old
NomAn'a dance short and sweet I be-
teve In = United safes bank ! helieve Va
protective tArth ! believe an . system
Of internal improvements. and I am Eain-'
human slavery ~ on that platform yOu
ian give me- YOUR suHraGes I shall he much
obliged u not. no harm done. and Z re-
main respectfully vours. Abe Lincoln
" - -eventy-seven years ago that this
simple man from che woods. With his never
IL ling inst net laid down tn. remarks bio
programme Of which only one single part
a tinted states bsnk. has not ", been
- - tad otst