OCR Text |
Show BOND CURRENCY IS RELIC OF THE PAST NEW TOBK, Nov. 9. At the meeting meet-ing of tbe New York chapter of tbe American Institute of Bank Clerks last evening, tbe question of currency reform re-form was discussed by Charles A. Co-nant, Co-nant, author of "The Principles of Money and .Banking." Mr. Conant declared that the country coun-try bad outgrown the system of bond-seeured bond-seeured currency, which was originally only a war measure, like tbe issue of tbe greenbacks. Every other civilized country bad a more scientific banking system, and it was time for the United States to deal with the question in a time of general confidence instead of waiting for the compulsion of panic and a period of distrust. A large stock of paper money, which did not diminish when the demand for it declined, might prove a serious menace, to the security of our monetary system, he said. Mr. Conant remedy for this menace men-ace was the plan recommended by the Chamber of Commerce committee. |