The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1911-01-24
BANKING PLAN
THAT'S A HUMMER
Referendum Proposition That
Puts Col. Sellers millions
In 1t" in the Shade

Attorney Tom While'ey is after Al
drich. He has a United States bank
plan that puts the Rhode island
mans measure in the discard,
Whiteley says:
An act to provide for legal tender
notes to be loaned to the states pro
rata according to population, by the
states to the counties and the county
to the people ON farm lands, and to
prohibit the issuance of any notes or
bills 70 be used as currency. except
by the treasurer u The United States.
he II enacted by the senate and
house of representatives Of the United
States Of America in congress assem-.
bled: That the secretary oi the
treasury is hereby authorized and It
is made his imperative duty to issue
one billion five hundred million dol
lars of United States treasury notes
payable to bearer in denominations
of one, two, three, five, ten, twenty
and fifty dollars each, which shall be
a full legal tender for all obligations
public and private, and any contract
made discriminating against any such
legal tender money shall be null and
void, and it shall be the duty of the
secretary Of the treasury to maintain
the ratio of such denominations as
the public demands require.
Section 2 Said notes herein pro
yided for shall be loaned out to the
states, the states to the counties, and
the counties 10 the people pro rata ac-
cording to population the borrower
to pay three per cent interest per an
mum, interest payable semi-annually
said loans to extend from five TO ten
years with the privilege after two
years to pay the whole amount al
any interest paying period, such loans
to be made on farm lands on a basis
of fifty per centum Of the valuation
and preference shall be awarded to
all borrowers in the following order
J.. TO those owning ten acres or less
2. To those owning fNenty acres or
less
o. To those owning forty acres or
less.
T. To those owning eighty acres or
less.
s. TO those owning one hundred and
sixty acres.
g. TO. those owning three hundred
aud tWenty acres or less.
Z To those owning six hundred and
forty acres or less.
-Bht in no case shall any loan be made
Ito any person or individuals posses
sing more than six hundred and forty
acres OF land, and any such person or
iadiyidual who shall acnnisr any en-.
numbered land or who shall he pos
sessed Of more than Gao acres with
any loan made under the provisions
of this act shall become liable for he
Immediate payment thereof and by
reason Of such excess of Gao acres
any such loans beco ir due and pay
able at once
Section B. That in case of an EN-.
ergency arising from a stringency in
the adequate supply of currency to
meet the urgent demands of the busi-
ness interests of the country the see
retary Of the treasury Is hereby au-
athorized to issue any additional
amount OF legal tender notes herein
authorized and not in excess of Five
Hundred Million Dollars to be loaned
out from one to six months upon the
same terms and conditions and under
the same regulations that apply TO
the general issue herein authoi zed,
and the revenue derived therefrom
shall be added to the specific fund
herein created
SectiOr 4. All revenue arising un-
der the provisions Of this act shall
be paid by the counties to the state
and by the states into the United
States treasury, and the full amount
of such interest and loans shall be
come a liability in favor of the United
states against each Of the states with
In whose jurisdiction such loan shall
be made ard the state shall in each