Show BILL S democratic leader le ader introduces mea ure agreed upon by minority members member of committee on banking washington what will be known as tho the minority currency bill was introduced on friday by representative john sharp williams of at mississippi thil the democratic leader of the house who drew the measure as a result of a harmonious conference of democratic members of the houlia committee on banking it repeals all laws permitting na tonal banks to keep three fifths at 0 their reserves in national banks of reserve cities and similar laws permitting such deposit ot of one halt half ot of the reserve amounts it provides that not less than one half balf of bf tho the reserves now required to be kept in lawful money in central reserve r cities shall be hereafter held in gold or gold certificates it does docs away with the payment of national bank examiners by tho the tee fee system dyste in and substitutes salaries not less than nor in excess of yearly with actual expenses it provides that the total liabilities of any national bank exclusive of tho liabilities of its members shall not exceed one tenth of the banks caidla paid in and unimpaired cla capital pital stock and I 1 one tenth of its impaired surplus funds and that in no event shall tho the liabilities exceed 30 per cent of the capital stock no national bank shall loan in ili the aggregate more than seven times the amount of its paid up tip capital plus its unimpaired surplus any national bank way may keep ad BO per cent of its reserve in united unite states es bonds or bonds of states or in the bonds of certain municipalities municipal itier but not more than one fourth of the total reserve may be kept in state or municipal bonds and the bonds shall be acceptable only ot of such municipalities aties as have maintained their bonds nt ct or above par tor for six years precede pieced ing and have been in corporate exist ense ease ten years and have never defaulted in their funded debt and whose net indebtedness does not ex aeed IS 18 per cent of their taxable property the camp comptroller ot of the currency immediately after the passage of the tha bill shall furnish a copy ot of the new law to each bank in the country and it if it will accept i tic a and id th ane e r 11 litaea attaching to ton consent sent way may be L ell enforced by the comptroller agree me t to accept the provisions shall entitle state banks and trust companies to the benefits of the new law the elastic currency feature of tho bill Is contained in a section which provides that these bonds may be deposited in the near est sub treasury and the depositing bank shall receive in lieu thereat united states emergency treasury rotes potes subject to taxation redeem redeemable abla ot at any time and legal tender for the creation of a fund of 45 for the payment of depositors of failed banks operating under the provisions of this law there Is authorized zed the imposition ot of a tax ot of one sixteenth ot of 1 per cent on the de posits of banks so operating and consent to be so taxed braa baa been obtained the final section of the bill provides that no bank officer shall make E a loan for the purpose of stock gambling |