Show PENCY ENCY BILL PUT BEFORE THE SENATE i Jan Tan 16 Senator 16 Senator t has bas as introduced a currency bill its chief chic features to the The bill provides that any Aal al bankin banking association with ith cirg cir- cir j K g notes notel outstanding secured by byI a. a I of United States bonds of not an an 50 per cent of their capital and with a surplus of ot not less leu 0 a per cent of the capital stock stock sure cure circulation by bJ the deposit of ol off f V with the thet Treasury depart- depart T The e same ame privilege t e is extended tank bank trust truet or savings s tho tho United States or any State A is fl provided that such may secure on the basis of counties United States es currency o 0 tho extent of per por cent of ot r alue in tho the case ot of the United bonds deposited as u security Jt per cent of ot the par value i t e county Bounty or municipal bonds Mr Bacon explained I I bill biU wa was an amendment to the I bill and aDd embodied many 9 of at its BS nl s as l it did in the provisions ill iHl introduced by Senator Knox lit it omitted railroad bonde bonds from fromes es ts of securities that could bea be bo ft a basis buis of circulation I ont think I 1 said laW Mr rr Bacon bonds possess a sufficient f r of value to th permit them to bo he fa a. a sf security for the issuance of I and I have therefore left it t. t id d also extended the classes of pus One that could issue such curI cur cur- I Ou to a as to benefit benet others besides banks In th the recent l t stringency the banks in in the Centers t had refused to give i e 1 banks banks the money belon belonging in to said aid and that course had bad re- re depressing the price of cotton lowing other moneyed I wide side ido National banks s to issue I tho the difficulty would be bo in the future Ho Tic said ho from irom his bill the tho prot protho pro pro- t tho Aldrich b bill ll imposing a n tp r cent in order to drive then theIa the tho 7 Ia n in m in as os soon a as tho the emergency ed ej He did not believe th that t tx ax x J was but he be was I nat bat the business needs of the tilt the tb amount of j MI i would be put out I j t |