Show The public debt statement for September Sep-tember shows an Increase in the favorable balance In the treasury that Is equivalent to a reduction of over six million dollars during the month of August This does not mean of course that the debt has been absolute ab-solute reduced by that amount but that the treasury Is that much stronger and Is prepared to pay off that much more of the debt It also directs attention anew to the desirability desira-bility of some financial legislation whereby the debt could be reduced and ilnally paid off without disturbing the National banks As things are now the debt must be maintained or the banks must go out of business so far as currency Issues arc concerned And that Is precisely the reverse of what should be Instead of perpetuating the debt for the sake of the National banks the banks should be perpetuated perpet-uated antI the debt paid off This could easily be done under the provisions of the Fowler bill or by nllowfnc Hir > banks of States or strong municipalities i = municipali-ties to be used as a basis for banking and by providing for a system of bank checks such as were used In 1S93 to avert the effects of a panic and to protect values and prcxent a smash In finances that would upset the whole business world |