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Show NEW CURRENCY LAW IS BOYER'S THEME Bankpr Explalna llow ct May Be Made of Greater Benefit. Ihieiness would be facilitated under the new federal reserve bank law if Jobbers n1 n unufacturera arranged with the trade to recel e accepted short term drafts or oloa upon the receipt of goods, th e reatl g 1cl able oon mercial paper read Ij on ertible Int uah eald T W Bpiet sh er of the (. ontl en al Natlo 1 ba k an add ess lesterday bof e tl o I Hh Ass latlon of Credit Men The heetl e an hed folo.lng a lunohoon at he imne-clal cub. Cole to s ha e been gather slow this fall and inter and s ggestion was nade at the eetin that if local Jobbers got the r back a 1 ston era to gl e no es tor stxtj o nl etj days this paper vould be ac-epuble o t) e banks and to the rederal reserxe banks a d would give Job bers son e reads workln cash Accepted dra ts are very des table pa per to the reae e bank, said Mr Boier creating two nan e self liquidating paper He &a d the plan v.ou d have the tendency to improve oredlti and collections Mr B yer a address was lu the nature of a d sousslon He Imitod quest one from the credit me The speaker briefly compared the old currency law with the new one, easing the Inelasticity of the old was remed ed In the new In urging ore arceptanoe of drafts and gt Int, of iromlssory notes, Mr Boyer remarked upon the few kinds of commercial paper or ginated in this part of the country ac eei table to the reserve bank. Credit men seen ed to be of the opinion that it would take some time to get the plan for the acceptance of drafts Into general use since the trade always bad been gl en to undereta d that Us credit as almost unlimited without Issuance of notes or acceptance of drafts. They are of the opinion however that the reserve law will ha e an Immediate Indirect benefit here and a mora d rect one as the s stem gets n ore usage |