| Show STONE AtTACKS CURRENCY BILL Senator Says Measure Is Make Mako Shift to Meet Demands mands D i EXPLAINS MONEY MO N EY STRINGENCY Panic Pani in Great Gre Part He Says Was Due Duet to Heavy New NewYork NewYork NewYork York Deposits 11 In Iii Prophesy lo lie bie J Declares Democrats Deliberate Will 1 Brine Prosperity to Country In iii II QI Washington Wo Feb IS Speaking In tho time senate today toda Mr MI Stone of Missouri declared that while tho the recent cia I panic was ns In lit part port duo due dUI to a n short shortage age ego of ot available currency tho time concen concon concentration trUon ot of the money at given points had hd much to 10 do with It It There was he lie said too much of or this money Ioney In New Now York Time The bill bi ho imo re regarded regarded garde as merely morel n it makeshift In meet meeting meetIng ing lag tho the needs ne ds of the country I 1 ant uni opposed he lie said lo 10 o con conferring COI ferring this great groat additional favor and power upon national banks The Idea Idel of a corporation usurping and using the thc funds of or a a nation naton has hns always been obnoxious to me Time The power they can CAl exercise upon the time political and Indus Industrial Industrial trial of ortho tho nation naton is out OUR and nn although It is la no doubt en entirely el trel true that time the national banker la is laas I isas as patriotic us as the time average citizen yet yet money Ioney and business with wRit him hint himas as with others are aro generally selfish and grasping things and dividends are often ofen than patriotism regarded as a of ot more moro Importance WOULD CURTAIL POWER POWEll He lie objected to giving the bank power to In any degree dearest the tho volume of ot the time peoples currency by b or Cr contracting it us at a may 11 happen to suit their ter whims or their Interests Mr Stone declared that he ho would pre pro prefer prefer fer for to curtail tho powers p of ot the tho banks because the tho government go Is now de dependent IC pendent upon them to give stability to the tho currency I shall vote oto for tho time emergency treasury note Instead of ot time the emergency bank bunk note said Id Mr 1 Stone State banks and trust companies should not ho ht thought be bo denied the time same samo privileges as tho Limo national banks Mr Stone S one favored a law demanding that reserves 8 should be kept In tho thu country banks If I that had been en done he behoved the tho thol Intensity ten ot of tho tte re recent recent cent panic would have been lessened lessene He le spoke ip furor favor ot of a ii guarantee fund lund to Insure the deposits fn 40 national ual banks s Ho lie also wished to 10 See eco banks receiving government deposits required to o pay interest on them themAS themAS themAs AS TO SILVER SIEH ISSUE Referring to a a suggestion that the tha treasury department should be bo con controlled controlled trolled trailed by a board of directors rather than by a mm n single secretary secreta ho Ito said bald sid too much power was fB va placed In lit the tho hands of a an nn Individual Individual He n denounced stock gambling and declared that It took out of ot the time market too much money mone that might be bo available for tor lending for rOI com coin commercial mercial purposes The recent panic ho he said eald had bind II come coma to n a Republican ad nd administration administration ministration although lough the party part had al always always ways declared that It brought prosper prosperity prosperity ity iy upon tho country Mr Stone Stono referred to time Iho sliver silver Issue saying Its ItH purpose had been misrepresented an an j that It hud had been expected that the tha parity of ot all ni money mone would be bo maintained under that system We Wo recognized tho the crying necessity for tor additional money mone bo ho said ald Tho The contention that adequate In Increase crease ot of the volume ot o money would woud revive Industries Indu tres enhance property values and labor wages had been dent dem demonstrated ulm by y tho time history of ot tho tile last lat de decade cede cade Cde The Tho Th enormous gold supply had done don what It was nas 1 expected gold and sliver silver would do doA doJ doA A J PROPHESY But Dut tho the Republican part party has fast fust fastened oiled ened ene a ft a taxing system under tho time opera operation operation tion of ot which time UIO grasping monopolies are created to plunder the people he hI added I prophesy that tn many lan moons will wi wane before the they will wi again point to a it I Democrat and sing Bin in strident chorus the Song of the Soup House Hou The Tha full tul dinner pall will wi not bo be again blazoned bIn zoned as an arm a emblem ot or on the Re Ho Republican publican t This panic ha he said would have been worse had bad the tho Democrats Demorat mutated imitated tho time example at ot tho time Republicans In lit 1816 when whon they Ule seemed bent bont upon making timings things worse wore than they were wore Banks then timen he said coerced their customers ns aft al did corporations their thel Now Democrats Democrat havo lulo striven tron to allay excitement to restore normal condi condl conditions ton When the th country Is again con controlled trolled by the thi party parlY of ot Jefferson and Jackson he h expected to see sea Industry ro r |
