Salt Lake Herald-Republican | 1906-12-12 | Page 3 | Averse to Taking Action

AVERSE 10 1 AKING ACTION Little Likelihood That the Senate Will Take Up Tip Currency Matter at This Session Washington Dec 11 Currency leg k at the present session of con Ion is unlikely if a decision held to today today today day in the senate committee on un may be taken as an indication The Thc spent considerable time in talking of the necessity of currency leg legislation legIslation but hut did not have before it any In His advocated for passage The scuLl senti rpt appeared appEar d opposed d to hurrying the passage of such a bill at the short ses sos sest t Ion of or congress Washington Dee Dec 11 1 The currency i of the Bankers association appeared before the banking bank in and cur eur reny committee of the house today loday in of the elastic currency commit committee tee tec bill d by b the association James B Forgan of or the First National hank of Chicago endeavored ende to refute the thc charge that it is a Wall street ip asuro He lie said sallI that the issuance of nal bank notes would not re result result sult suit in extending additional credit to Wall Vall all street interests As an illustration of the great drain t i k banks at crop moving time Mr Ir 1 ft gan an said that the bank with which called to or ir j connected was upon Tin 3 to western banks during the first days of last He urged the necessity for or a more elastic to tc t meet such emergencies and andr explained r that under the proposed bill billa a n national bank with a capital of or DUO 00 will wm be permitted to issue v more of bank notes upon which it shall pay Jay 2 4 per Dr cent and amI 1500 worth orth more of bank notes upon which tl Li o c rate of interest shall be 5 per cent 0