Show NE NECESSITY HIT OF RELIEF URR URGED 8 D o Currency Advocates Advocates Advocates cates Credit r dit Currency Plan Before House Committee Washington Dec 13 William B Ridgeley comptroller of the currency advocated before the house committee on banking and currency today toda the proposed credit currency plan There was he said no question regarding the necessity of or some measure of relief He Ife believed a graduated tax should be placed upon the credit notes which would create an ample reserve for their redemption This he thought was a much superior method to the high tax plan with no reserves Mr Ridgeley was strongly in favor of having the government guarantee such credit currency No risk would be in involved Involved in this as he said the 5 S per cent guarantee fund would secure the gov government government against loss Ample Reserve Fund The comptroller did not regard the administration of the proposed plans as necessarily expensive The proposed per cent tax he said would create I a fund from to a year y ar which would be abundantly am ample ample ampie I pie to meet all expenses and create a reserve fund Mr lr Ridgeley favored increasing the tile present monthly limit upon the retirement of national bank circulation circulation lation to or and giving the secretary of ot the treasury treasur discretionary power to modify or sus suspend suspend suspend pend the limit to meet any arising con condition condition This limit was fixed he said when the circulation of the country was something like It is isnow isnow isnow now more than tItan |