The Prescott daily news., 1913-05-28
REQUEST ANSWERS FROM BANK. FRS AND OTHERS PRELIMl-
 NARY TO LEGISLATION.
COVER ALL CONTINGENCIES
Nelson Introduced Bill to Permit an Emergency Currency Issue of s295,ooo, ,ooo, Providing Tax
 for Excess.

Washington, May 2S.-The senate banking and currency committee be- gan its investigation of the nations currency system and how its defects should be remediedf when a list of questions to be sent to bankers and financial experts was approved and prepared for immediate distribution There are 32 questions in the list, enough, the committee believes, after careful consideration, to delve thor oughly into the subject of currency reform. With them to the financial experts will go a letter suggesting that answers be given to such as seem worth while The questions, summar- ized, follow:
 What are the essential defects of our banking and currency system?
 Enumerate it's advantages and dis advantages and what purposes are to be attained by an improved system.
 Should national banks continue to have a bond-secured currency, and should present reserve requirements lOl SuNh DdlAhS bV soNu
 Should elastic currency be author ized, and. if so, should it be limited, and to what amount; should it. be notes individual banks, central re- serve association, a number of region al associations as the treasury?
 If such notes are from the treasury should they be on pledge of security, and of what kind, and should they be first lien of the government on the concern to which issued? Should all currency have a gold basis, and how should it be issued, and what per cent reserve should be required?
 What should be the limit, if notes are issued to or by an association, and should it be based on capital stock and surplus?
 Retirement of Currency.
 What device should be used to re- tire such currency when demand sub sides?
 Should a tax be laid on the currency graduated to conform with the vol tune issued by the reserve association or with the length of time outstand ing?
 Should there be a central associa tion. with branches or reserve associ- ations with or without a central con trol, and if number under such con trol should it be wholly with repre- sentatives of the association, wholly by the government, or by both?
 Should such association have geo. graphical territory and exercise its re- serve functions there exclusively, or should memberbanks be permitted to choose which near association they should join. disregarding fixed terri tory?
 Should state banks or trust com panies be stockholders in such associ- ations, and under what conditions?
 How many regional reserve associa- tions should there be?
 What should be the minimum capi- tai stock and what amount to each bank?
 How should directors of such asso- Clat1OnS De tleEttu III Nhte bers. powers and terms of office?
 What should be the general nature of business of such association? Should it accept credits other than those of banks, pay interest on depos- it's. discount double-name commercial paper for memberbanks on equal terms to all and should its discount rate be public, subject to weekly change?
 Should 1t loan directly to member hanks with or without collateral se- curity. with interests equal for the public and subject to weekly change and should reserve associations be permitted to deal with each other in purchase and sale of paper, exchange security and gold?
 As to Government Deposits.
 Should government deposits be withdrawn from banks and placed with such associations; how should they be apportioned, at what interest, if any, and how soon could this be done?
 Should national bank keep re eerves with the association to which