Inter-Mountain Republican | 1906-12-19 | Page 2 | Elastic Currency Measure is Reported

I ELASTIC CURRENCY MEASURE IS REPORTED Act Devised to Relieve Money Stringency Passes Committee Washington Dee Dec IS l Uy By a u sit let party parly vote time the hOl house o committee on un banking and amid currency toda today reported the clastic elastic currency measure which Is II designed to relieve i o the monc money strum strum- genc gency Four members of or time the committee Weems un and l Republicans U 1 antI and James and amid Pujo Democrats wore were ab ab- ab- ab sent ont Ten fen Republicans voted for time the bill bi while the time Democrats Glass Glas Legare Le- Le gare Gare Gillespie and amid Lewis voted a against it I. I Tho Ihu measure framed ft b by the Na Na- Bankers Bankers' association fut furnished the ground work for 01 the time measure o. The original placed a tax of 2 2 1 per cent against credit currency ency issued by national banke Time Tho committees committee's bill hi makes this tax 3 lieu pur cent cent The Tho amount of monc money that lint can be he issued un under er the Jea measure b by national banks ball Is limited to tu 1 Ie Holders s ders of this cui aro are In In- against agaIn t losses owing to 10 time the fall fail ure C of any ammy of r the time balms bahns by 11 time the fum's derived IJ by time the 3 per cent cont tax and und held hel as a fund funt In lii tho the Treas Treas- Ut ury Ul- Ul department The hc go expenses In iii II supervising tho the I issuance Is also to tl b be paid Itald out of oC tho the moneys monc's collected by the tho taxes