Show PLANS CURE GURE FOR FAMINE DF OF MONEY MONET Former Secretary Shaw Suggests Suggests Suggests Sug Sug- Scheme of Government Govern- Govern ment Insurance e. e BANKS COULD ISSUE NOTES Would Provide Provide Thereby Currency Currency Currency Cur Cur- rency Without Creating Public Alarm Chicago Nov o Leslie M. M I. I Shaw former onner secretary of the lie treasury last night Ru suggested that tho tim problem of n money one famine can be solved o oe e by hy a u scheme of uC government Jo insurance of or al almost almost almost al- al most unlimited monc money Issues b by ly the lie si six thousand national banks He ITo outlined I this tills plan juan to lo the Ut mCl members ers and g of or ortho tho thio National Business league at the banquet In Iii the au auditorium in Iii the time presence pres pies dice ence of more Inure than a hundle hundred of the lie i most distinguished figures uleM in tho hue commerce commerce com corn merce of or Chicago and America America- merlc Mr Mm- Shiaw's plan contemplates tIm tho re removal 11 re- re mO mOll moval ll b by legislation of the present re restriction 1 re- re which makes national 1 bonds lundt the thu only security acceptable for bank noti Issues Instead lie suggested J ested tho the banks anJe should be e permitted to tu issue notes in re regular currency onn to at least half one their capital tho tIm mane mono to to be underwritten I by the lie government which charge chare a as LI n a premium 5 6 per cent an aM long ns as tS It circulates to In A ule old This his would not only emily provide but bul make certain a naturally elastic clastic cur cur- rency The Time banks would Issue as us much of oC the money as ns necessary in times hues of or stringency and this without creating a panic because e the public would woul know nothing of ur time the issue I On Omi time the other uther hand hall the ban banks 8 would not nol pa a 5 S per cent for money If 1 It was not hot needed e and it I would bo be withdrawn from circulation as the nee need decreased ed In this manner he said Rall emergency currency of or at least could coull bo ho thrown loin into circulation at any nn time vested without values exciting alarm or 01 Injuring The Central National atonal bank bunk was dismissed dis dis- missed by the speaker 11 kel as a possibly valuable measure but lut impossible be because lecause be- be le- le cause he lie said sid not 5 6 per r cent of oC the time American people eople would stand b by such munch sucha muncha a ulan plan Tim The financial and amid business conditions which confront tho the countr country Mr r. Shaw Show I said hl ar tire are tho thio rl result I of oC extravagance unwise agitation nn and consequent loss Joss of or con confidence tin Lest I bo be misunderstood he lie said I I want to make muke It clear that thai in my may cear 1 judgment this country will 11 never ne outgrow out- out grow glO v ro the lift toward civic c an and business ss lf righteousness resulting from the strict enforcement o of law Jaw uw which has ban charac- charac tensed the time administration of President Hoose el citI cit t I am aimi equally certain that it I will l take k us sonic somo yc years rs to tu outgrow tIme tho evil ovll 1 0 effects arising from roni rock less U them hint Hl J pio Ot u- u l tJi liI tn n b buu u unable U- U to tho UlO i mind and larity t tt who by 11 have havo Imitating y therefore e weakest sought 1 rather popularity pope pope- Vl ration than the tw strongest side of his adminis |