Show > 1 AN tJNFINISIlFD AItGUlIIFNT Judging from dispatches yesterday the Comptroller of the Currency lion Win Tronliolm to use a slang phrase Bit off more than bo could chew lie starts out with ratbor a rose colored view of tho National Banks in the exerciso of their legitimate functions of discount exchange ex-change and deposit lie admits there are serious questions ns to tho policy amid the constitutional right of grunting charters c to banks of issue Ito fears tint without this concession National Kinks could 4 not live In view of thu fact that mall of tho strongest and most successful banks hare declined to nail themselves of tho privilege of issuing notes of circulation it is difficult to understand why the pm lIege of issuing paper moncv denied to private bondholders supposed to have 2 souls and to ho responsible should bo granted to soulles corporations on tho ground that without this privilege the must cease to exist But says tho Comp trollor If the system could bo preserved pre-served us onu of deposit and discount there would probabl arise nn almost universal sentiment In favor of bestowing upon its preservation immediate amid careful attention In tho absence c of United Stiles bonds which with tho present revenues of tho government ought to bo paid off within the next twelve or fifteen years whit securities will be available to replace the untaxed bonds soon to ho canceled The Comptroller finds it impossible to answer this question satisfictomli aul the argument in favor of a bank note circulation circu-lation lacks ovon an impotent conclusion conclu-sion The worthy oflicial can only say These objections and unsworn seem worthy of consideration 0 The quamlar of Mr Irenholrn is u forcible reminder that tho fluctuations of the bank note cir dilation dependent for its contraction f or expansion upon individual or corporate c corpo-rate interest solely is II disturber of the business of the Nation anti 1 dangerous to Its prosperity It is a notable opportnnlt for the party in power to place tho issue of paper mone solely in the hands of the Government Gov-ernment to issue sliver certificates to the depositors of silver bullion to use the Immense income of tho joernment to buy every purchasable bond antI to etc iito sinking fund with the hahll1lo to l r 4 PIlY tho t2oO000000 of 41 per cent bonds becoming duo in 1891 and tho 738000000 of 4 per i cent bonds becom lug due In 1007 |