Show FOR THE BIBS BANKS congressman fowler of new jersey would increase the powers of national institutions makes declaration that permanent rel re ef from the present monetary stringency can only be had through a system of cred t currency new york that permanent relief from the present monetary stringency can only be had through a system ol 01 O 0 credit currency adequate to meet the requirements of trade and redeemable in gold coin Is the opinion expressed by representative charles fowler ot of new jersey chairman of 0 the banking and currency committee which will at the coming session of congre congress lbs en deavor to have a law passed providing tor for credit currency issued by the na dional banks until such permanent relief Is made possible by legislative enactment mr lowler bowler asserted the situation must be met by the issuance of clearing house certificates cash lers fers checks and due bills of business houses and manufacturers the underlying business condl eions he declares are essentially sound as evidenced by the increased earning ear ninga of ralli oads and the tact fact that the value of our agricultural products are more than last year which was the highest year in our history and are bringing to our people about 7 but public confidence has been greatly shaken and credit seriously affected chere tore fore every patriotic citizen from the president down should do all in his power to restore that confidence which Is essential to national prosperity the cause of the currency gency is that there Is scattered broad cast throughout the country at the mints in the wheat corn and cotton fields in the pockets of the people or locked up about 1 0 of the reserve money of the united states most of which under a proper condl condi tion would be in the banks serving as reserve temporary relief will be through the forced use of current credit in the form of clearing house certificates cashiers checks and due bills of bu business houses and manlutac jurers during the ninety days ahe I 1 he permanent cure must come through a system of credit currency expanding and contracting with the ordinary de mands of the smaller trade precisely as checks and drafts do in the broader field of commerce |