New-York tribune., 1913-05-27
BANKERS ASKED To AID
CURRENCY COMMITTEE
Requested to Give Their Views
on How to Remedy Defects
of Our System.
81 QUESTIONS PROPOUNDED
Senate Expects TO Get Opinions
of Expert Financiers on
the Question of Cur
rency Reform.


Washington. May 2s-The Senate Bank
ing and currency Committee began its
investigation OF what is tine matter with
the nations currency system and now It's
defects should be remediei late to-day.
when list of questions 20 be sent TO
bankers and hnauoia. experts was ap-
proved and prepared FOR immediate dis
trluutl0n. There are thrty-two questions
ir tine list enough the committee believed
after careful. consideration. 20 get thor
ouebly into tine subject of currency re-
form. ,Ith them viii 20 letter TO
financial experts. Suggesting answers De
given % such as seem worth while.
The questions summarized. follow.
What are the essential defects Of our
banking and currency system Enumer-
1t- IT. advantages and disadvantages and
what purpose, are to He attained BY an
improved system.
Should national banks continue to have
bond secured currency. ana should pres
ent reserve requirements Tor such banks
be changed
Should elastic currency be authorized.
and n so. should % be limited and to
what amount. should r. be- In notes OF IN
I.yidUal banks central reserve associa-
tiou. number OF regional associations
or the Treasury
n such notes are from the Treasury.
should they be on pledge OF security and
Of what kind. and should they be hrst
lien OF the government on the concern 10
which issued Should all currency have
gold basis and now should II be- ISSUED
and what per cent OF reserve should BE-
required
What should be- tine limit II notes are
issued to or by an association. and should
it Doe based on capital stock and surplus?
What device should boo used to retire such
currency when demand subsidies Should
tax b. laid on This currency. graduated
20 increase Vlth the volume issued by
the reserve association Or with the length
OF time outstanding
Reserve Associations with Branches
Should there b. central reserve asso-
citation with branches Or reserve associa-
tl0ns with or without "a central control
and 30 number under SUCH control
should 10 be- wholly with representative
OF the associations. wholly by the gov
ernment or by both' Should such asso-
c.ations have "a geographical territory and
exercise IT'S reserve functions there ex-
c.usvely or should member banks be per-
mltted 90 choose which near association
they should join. dlsregarding fixed ter
ritOryg
Should state banks or trust companies
be- stOckholdcrs lr such associations and
under what conditions How many re-
gional reserve associations should there
be- What should he tho mlr.mIm capital
stock and what amount 20 each bank
How should directors of such association
be elected and 90 what numbers powers
and terms OF Office
What should boz tine general nature of
tho business OF such association should IL
accept deposits other than those of banks.
pay interest on deposits. discount double
name commercial paper for member
banks on equal terms 20 an and should its
discount rate b. public. subject 20 weekly
change? Should 90 loan directly 70 mem
ber banks with or without collateral SEE
curty. with interest equal for all pub
ic. subject to weekly change. and should
reserve associations BE- permitted to deal
with each other in purchase and sale OF
paper exchange security and sold?
Question Of Government Deposits.
Should government deposits be- with
drawn from banks and placed with such
associations. how should they be appof-
toned AZ what interest 10 any, and how
soon could this be done
Should a national bank be required 70
keep a reserve with the association TO
which % belongs. except that in IT'S vaults,
or should it be allowed 10 use other asso-
citations. and, it so. now much Should Fl
reserve association be required % main
tain a reserve against it. deposits. wnat
amount. in gold only or Lawful. money?
Should liability Of each member bank De
limited 90 It's stock subscription, and, II
not. what should be It's liability
Should reserve associations do business
with banks other than members and OF
what character Should national banks
be permitted. upon payment Of commits
sion. 10 loan their credit by accepting bills
arising out Of the ordinary courses of
commerce. and should reserve assoe!a-
ti0ns be- permitted 20 ueai I'D tAese aSCeF'-
ances iu transactions with banks or other
associations Should there be limit 10
such acceptances. and what limit
What dividends should associations be-
permitted 10 pay tnclr banks anu shol'i
anr share of the profits Of an association
ne distributed 10 member banks IN pro
portion 10 the average deposits during
the year.
what Is your opinion OF the plan OF the
national monetary commits sion. ana Whal
notifications would you suggest. u any
senator Nelson. Republican member .,
the Senate Committee on banklng anu
G,trrsncv introduced to-day a bill pro-
r0eiug a system of asset secured cur
reuc,-" Tor national banks under "hlch
Inc banks OF the country could, u necSs-
sarv issue emcrgepcy currency 70 the /
total amount of 1926 600 600
MONUMENT DEDICATION PLANS.
Plans for the naval and military pa