Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1913-11-20


II now attracting countrywide arten.
ton In oil circles, especially those OF
finance and business generally was
given Monday evening before the
Brotherhood OF the First M. r. church
at the home OF Senator and Mrs. }. F.
Weber. l.. A. Andrew. president OF
the Citizens Savings bank prepared
q paper on the subject and discussed
the bill at great length going into its
various phases In detail. The paper
BY Mr.. Andrew is reproduced for the
benefit Of The Courier readers as fol-
lows:
The currency bill which has passed
the house of representatives and &C.
ton ON which Is now pending IN the
senate Of the United States Is without
question the most important and Tar
reaching proposed change IN our
country's financial system which has
been considered In, generation. II
affects in most yital manner the
prosperity and well-being of every In.
dustry, OF every business man, and
every financial interest, whether cap
italist with his investments or the
laborer with the use Of his brain and
Drawn to sell.
The proposed bill has it's ardent
chamnions Who see in it a cure for all
the ills and fluctuations of faulty I'm
ancial syatAm and 4 cure and proven
tive for all future panics. 1t also has
it, onponAnts who see nothing but dis
,aster and darkest ruin II the bill be-
comes = Law. Lot us tonight discuss
the matter from a. fair minded an at
tttude NJ possible and try to find what
Ia xood and what Is bad In the pro-
rosed lesislation. realizing that the
rreatest hnanciers and business men
81 the country differ widely in their
viava not only Of this bill but of any
,lerislation in this regard.
v....A. :. -.u "a ,t.r+ +his diacus-
80. Msts hr.s r.sdirg IF the ACT It.
~. :. -. 49, MA hv friends OF
Ia, 80 ,Sss ..id IN the Roston
- Du snu 49, ne.nu ~ the onnon-
con vo I :. s.ss+ -. ,.,d ~ its friends
onso, ~. 49,. a.. had nat csrefullv
e ~ ~ 80 rhs h,lI ~ rasaed nv. the
49,. ~ - -. in sentember
49, :. 49,. - o. Mne. each It
=. na0. -
% .h,,.h.r+
An act 70 provlGe Iol s,,.saah :.
o. feoeral reserve oAaAs, W ~. - -
elastic currency, 70 AnOiu meane - -
dlsco4nunS commeai pape. =,
taDHen = Mose enovu.e 1 49, "a ~
Banking IN the united otates' anu ~
other purposes. ~ $500
rnat w!tnln ninety u@ye ~. :,
tary OF the treasury, inc seGlo.y =.
agriculture and the vUnp.lon.. - ha III.
currency, actln1 az TING iese n,, sUa,n
ORGANIZATION commItteo' sna.l as.,a.
nate nom among the reserve oios
now autnorized = nunDol VI n
cities to De known e .eoeIal t y1U..S
cities. ana snan dlvioe me 1s..s = n..1 ~
states into elstrlcts, eacn ~ :"
conts1n ONO .ovv1l h.,,
The oreanizatlon co...oo 49,
proceed 70 oreanl.e ~ e.on ~ h.nL
reserve cities Ieoera' reselxS oann
The totai NUMBER 81 IeseLse o..os 80
tgnated by the organlzauon coiiilni''ee
shall not De less tnan .w ,east.a ,.h,,
Every nauonal pam looasou .,,vsS -
gwen oistrict shdil vo ~
subscribe to the capltal stocA =. 'ne
federal reserve Dank sum 14ual ~
twenty per cent OF It's caplta. s'oes'
one-fourtn 10 De palu IN casn anu w w
a. A.
SUBSCRIPTION IS mace: me ie ,,ana.ea.
OF the suDscl1ptlon shal ~ u =.
OF the memDeI JAN suu!es. ~ p ~
ment whenever Necessary ~ me- 49,. ~
oDHgauons OF tn leuei@. ieeel 70
DanK. PROVIDED, tnat ~ iou nas..
serve oank .snali coHinleI aao ~ ue1nooe
Win capltai less tnan $o'Vov.ooo.
Each Ieoeral reseivs JAIN nay,s.
tsDhsn branches wllhin rs n,, ~. y.
Every Ieoeral reserve JAIN sn"n e
conducted unuer luz con..o, y.
BOARD OF olrecIors 81 n'ne .lelnoes
CLASS snaii consist VI tn nl' n1e II
pers, VINO snaH De cnosen ny anu "
rcpresentauve OF the stocAhoioihs
banks.
CLASS snali consist OIL tnlee 9,! aleni
Ders, VINO snail DC Iepresen.aIse "
the general PUBIC interests u Tue
reserve olstrlci.
CLASS = snaii consist OF thIee mem
pers, VINO snan De uesisiia'e Wy 'ne
1edeTai reserve uodfu.
DIVIDENDS At the rate OF pei ecu. .
shall De PAID memDe' DAMS. Cne-ha, v,
fhe no1S eaTnlnRS OV0T OlVlO0QOS SHdll