Deseret Evening News | 1908-04-29 | Page 1 | New Emergency Currency Bill

NEW CURRENCY BilL Drawn by Rep Vreeland Will Wi Have Support of Republican Members of the tile House IT DOES NOT MENTION BONDS In tum II a n Way I i A h el 1 Money 1111 I 1 k IOU l null April 29 Another color emer Clor ire ne nc currency measure which will wi have luwe hia e the tho l support rt of ff the tho membership lem Iii In 11 tho house lIU so O has hl been bel after n ii conference of o house IHu e eI leaders I le 1 and ald may many 11 bo be Introduced d today tOd It was framed by h Representative Vree Kind 11 of o New Now York Time Tho now Mil hi culminates tl practically aly tho t bond secured circulation author authorized in 11 the Aldrich bill hi anti in Mr h bill hi It I does docs not nol men mention tion tOI state municipal pal Ill uil or 01 county COUlt In 11 I express terms In Iii 11 a way ray I It Ii I authorizes an ni asset emer ener emergency gency currency H It 1 provides for 10 thu thue formation of oC clearing house associations tOIS with ot lIf o roO each elch cud ns as 18 originally orl IIII proposed It I Ix the time amount oC of emergency circulation to be bc b Issued at It to t be bc taxed nt at tho the rate Ial of 1 I per pei leI cent the hue first OrRt month of IR Increasing to toper 2 per lIeI cent cOnt tho the second month and Ild up upward ward nl until tho LimO tax t shall Ihal ho IKI at nt the tho rate tle of ot 10 per cent fhe Thu bill hi provides that this emergency currency shall bo ho based upon securities held by 11 time the banks commercial paper bonus etc etcA etcA etcA A commission to devise a II permanent plan phul of or banking and Ild currency curl lc is 1 on Oi of Able ho features of or the tho measure