Show all tae HOUSE democrat leader introduces meas ure agreed upon by minority members of coman atee on banking washington what will be known as the minority currency bill was introduced on friday by Re presenta alve john sharp williams of dippi the democratic leader of the house who drew the measie as a insult of a harmonious conference of democratic members of the bous committee on banking it repeals all laws permitting na banks to keep enree fifths of tl air reserves in national banks of re serve cities and similar laws permit ting such deposit of one halt of the reserve amounts it provides that not less than one half of the reserves now required to be kept in lawful money in central reserve cities shall be hereafter held in gold or gold certificates it does away with tha payment of national bank examiners by the tee system and substitutes salaries not less than 3 nor in excess of 5 early with actual expenses it provides that the total liabilities of any national bank exclusive of the ties of its members biall not exceed one tenth of the bank s paid ao 10 ind unimpaired capital stock and one tenth of its impaired surplus t ads and that in no event shall the ties exceed 30 per cent of the capital stock no national bank shall loan in the more than seven times the amount of its paid up capital plus its unimpaired surplus any national bank may keep 50 ler l er cent of its reserve in united states bonds or bonds of states 01 ID the bonds of certain municipal itle but not more than one bourth of the total reserve may be kept in state oi municipal bonds and the bonds shall be acceptable only of such municipal atles as haye ma untamed their bonda ct or above par tor six years pieced ing and have been in corporate exist ense ten ears and have never de faulted in their funded debt and whose net indebtedness does not ex aeed 18 per cent of the taxable property the comptroller of the currency after the passage of th I 1 ill shall turn sh a copy of the new law to each bank in the country 1 and inai ire if it will accept the brov consent shall be bind ng and tha 1 ab bitica attaching to consent may be ento iced by the comptroller agree ment to accept the provisions shall entitle state banks and trust corn banies to the benefits of the new law I 1 he elastic currency feature of tha bill is contal rd in a section which provides that these inter convel tibia bonds may be deposited in the near est sub treasury and the depositing bank shall receive in lieu thereal un ted states emergency treasury rotes subject to taxation redeemable nt any time and legal tender for the creation of a fund of 45 for the payment of depositors of tailed banks operating under the provisions of this law there is au theorized zed the imposition of a tax ot one sixteenth of 1 per cent on ue de posits of banks so and consent to be so taxed haa been obtained the final auction of the bill provides that no bank officer shall make loan for the purpose of stock gam bling |