Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1914-01-01
AUTHORITATIVE VIEWS OF Law


With view of presenting the opinions of the best fnan
authorities the currency the Miner carefully
through its eastern and clipped from them the vital
paragraphs OF their editorials this subject
Anyone who will the to glance over these ex
pressons this newspaper believes will convinced that
the overwhelming of sentiment law
vast Improvement old conditions and that will go
long way in the direction of preventing monetary pancs and
stringency in the future.
The New York Journal Commerce and Commercial Bull
letin s comment is in part follows:
The bill embodies obviously sincere effort grapple
sincere with the three recognized evils Of the
currency and financial system These evils, and
again emphasized by student Of the problem the
ascity OF the the rehabilitation Of bank
and the lack of regular system of escount of commercial
paper 1t may be that the adopted to attain these
not the best possible for the bill is necessarily
and time may show the need of amendment But the good
faith of the authors of the bill is open to question They
have honestly tried rectfy the defects banking
and money system.
Further than this the newspaper above quoted holds that
1.-The of paying in capital shifting reserves etc. will
be gradual and the business of banking be
and need not be disturbed'
The foregoing does indicate that there we'll be the
slightest trouble in dropping the old system taking up the
new.
Then take the view the New Globe and COMMERCIAL
Advertiser and is found that is pleased with the measure
and incidentally denounces it's contemporaries the Times and
Sum- for disappearing the law
In part the Globe saws:
There every prospect that the national banks will sink
their differences abandon their objections set cheeru
about preparing for the change The larger see how
much is for their interest and how important to
stability to do earnest They cannot afford to do other
ws and sheer self defense they to make the
new system work successfully The smaller national banks
Will probably follow their example with few if any, exceptions
1t would be risky do otherwise State institutions which
eligible may hesitate and watch and wait There will be no
hurry. ~
The Boston Financial News expresses the belief that tho
Will prove helpful to business in the future for it
Inc currency bill has passed the expected to
De IN the hands OF the president day The new
tenn will undoubtedly be law before Christmas and tho
will have effected another great reform The general
eeng is that the influence of will be
anu IN 1act 1t has been urged osetting
caused the reduction in tariff duties There
VIII be long period Of preparation for placing the new system
however, and for the time being, what influence is
by currency reform will be purely sentimental
The fact that have provided of res
count and made commercial paper available in times If
OF the highest Importance the fact that degree of elias
IN the amount OF outstanding been
The New York Herald suggests that if the measure
more than 80 cent good months ago as LEADING
further. e' anu - says
Under the new system should again see perfectly
banks obliged to close their doors because of
% make their assets available to meet the demands ~
or nor should we again business men, as in the mast
70 Pay-ln certified checks clearing house inst
uton-a high premium for currency of any kind r. oo
'ayrolls and other ready money obligations
FMS one great nation that has never had civilized
~ system adapted to its economical and in
remarks the New York World and then adds
"hen panic after panic had finally chasened the connt
nto sembance of financial sense privilege and
anne orth with their scheme to reestabsh central han o1
oect trade commerce. industry and labor to the exactons
trust created by due process of law That not was
roed by the firm hand of Woodrow Wilson, and at last tho
ellcan people are grasping the realization of
III m pas system that is measured to their necessities
view 1ork Sum- which has opposed the measure from
N s, presumably because it tries represent the hankng
OF It's community which naturally opposed to ha
. e surplus money OF the nation conferred anywhere else
Their things says: f ~ "a" anu among al
1 more momentous piece of legislation has been mt y
ough IN nall century, and before it becomes law tb
" 1as oe brief interval in which it can receive exam