Arizona republican., 1916-04-06
NJ MORE PAPER MONEY, THAT 0UT
 TObE EREDEEMED
Republican A. p. Leased Wire]


 MEXICO CITY, April 5.-Mexico's plan for financial redemption was made public tonight in two decrees issued by General Carranza. the first of which orders a cessation of further issues of paper money, while the sec ond provides for a monetary comms- sion of five members who shall have full power Tn the matter of redemption If the present circulating medium.
 The new commission will be headed by LGis Cabrera. minister of finance. and will begin it's work in Mexico City May I.
 The decree regarding the stoppage of the printing of paper money is d- rected to tEe treasury department anu says:
 By order of the first chief you are directed to suspend immediately all further emission of actual paper money now in circulation concentrat- ing your efforts toward issuing new bills of one or two pesos, a denomina- tion which will form part of the non- counterfetable issue provided for by the decree of July 1. 1915.
 The decree referred to in the de- cree calls for 2500000 900 pesos of one, two. five. ten. twenty, fifty and one hundred dollar bills which are to be engraved in New York. It will event. uHlly substitute the press issue of 5OO.- 100000, which according 70 the treas lrry department figures, has been greatly increased by wholesale coun- ierfeiting
 The decree of the appointment of the monetary committee IS divided into eight articles. as follows:
 Article 1. A commission to be com posed of five members is to be ap- pointed and to be known as the mone- tary commission. Its principal purpose will be the reorganization of the pub lies financial system
 Article ,. The commissions head quarters will be in Mexico City. The committee will be composed of the sec rotary of the treasury and the present treasurer O. the nation and three other members to be named by the first chief
 Article ,. The commission will make it's oWr governing laws and employ such attorneys and financial experts and clerical help as may be deemed necessary.
 Article 4. The commission will have financial agent in New York and es- tablish other agents in the principal cities of the republic of Mexico.
 Article j. The commission will have the following attributes: The gather ing. conserving and administering of the funds designated by the govern ment for guaranteeing the interior cir culating medium: will aid the gov ernment in general in retiring the pres ent circulation and in launching the new issue. and will make such pro- visions as may be necessary for the is- Suance Of fractional money, place funds in foreign capitals, buy and sell drafts and make such metallic trans actioHs as may be necessary in effect ing all classes of banking transactions and exchange measures.
 Article 6. From the first of Nav next ali operations for amortization and resealing and redemption of money which has formerly been in the hands of the treasurer will be exacted by the commission.
 The seventh and eighth articles re- fer to the law under which the mone- tary commiion is established. which if is stated was promulgated April .. 1915. They add that the commission will continue it's functions under that law when they do not come in conflict with the present commission.