| Show SENATOR BACON INTRO INTRODUCES INTRODUCES DUCES CURRENCY BILL Washington Jan Jun Senator IU ILL D lo locon con today Introduced a ii bill billand billanti anti and explained Us Its duet aturo to time the Hnat Tim The bill lIlII provide K that IhM any allY national with wit II ole cir circulating notes secured scoured by b deposits of ot Unlit States bonds of not hot less IO R than thun SO 50 0 per nor coat of ot their capital capita and with a of It not lees leas than 10 20 O per Ier er cent or ft tho the capital tock stock litmus secure circulation by try tho thu deposit of security with tho tue treasury depart dopart mont Time Tho same caine Is U to any uny un or savings Institution tine tion by b tho the United Staten Slates Stat or 01 any 1111 slate simile and It IH Is provided that such may amy ma secure an on Uin VIR basis bats of these H securities United i to 10 tho the extant of or i mair r ont cent of C time th pin par value In iii the case at of Uin UIO United Unit nil bonds bond deposIted deloIt d AH as smut 76 16 per item cent nt of him Iho lur jair aliI of tat or mUll bonds or obligations bir Ir explained that this hIll bill was SeI mi nt to ho tho time Aldrich bill and embodied emb of ot Its provisions ns as It did In th the provisions of Cit the bill Introduced od by Senator Ho ire saIl said 1 It II omitted from frame the Ills a H of or If that could ho l lunil unil a CS 1111 a fi I bull bitala of ot circulation I J dunt think Mr Sir hot hat railroad bonds Li 0 situ cleat stability of ot value to them to IKI be u d 1 in mis a 11 security for time alice of ot ncy and I J h hiLve o therefore left them thrum out Ho lie had hart also tum of ot imitations IIII that rouM Mulet suet luch cui lone ienn r no IA 0 ill III to benefit others Ui tims l national bank In the tha recent rl Cn I lit rill tl nc the tha hanh m In IU time money olley r 1 tg to rn outturn banks tho he money lo lii he said and anil that cour hod had resulted in depressing the of ot cot col colton cotton cotton ton By D other moneyed In lUtu national banks to Untie title circulation time the difficulty would bo tic obviated in tho the future He lie said Iud ho hi lied had omitted from Ills hIs bill 1111 the lImo pro provision vision Islon of ot tho thu Aldrich lull bill Imposing a tax of ot C S per cent In order to drive tho ho circulation in iii as scott noon as tho tue th emer emergency gency was WAR passed Ho lie did nut not believe that t hll t such a 1 tax wits WAS but ho he hoWAR WAR satisfied that tim tho business 1 of tho the country would determine the amount of money that would be bo put limit putout out |
