Spanish Fork Press | 1907-12-05 | Page 2 | Platt Has a Cure All

PLATT HAS A CUREALL Will Introduce Measure Providing for National Clearing Houses New YorkIt is announced that Senator Thomas C Platt will Introduce Intro-duce in tho senate a bill providing for the national Incorporation of clearinghouses clearing-houses Tho bill Is similar to those which failed of passage In 189C and 1302 It will provide that one clearing clear-ing house in each state shall have the power to issue currency to its members mem-bers and shall maintain a reserve equal to that required of national banks The passage of this bill It is said will give congressional sanction sanc-tion to the plan of issuing clearing houso certificates which has been in operation since the recent financial stringency began