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Show KJJ THE NEW CURRENCY BILL A summary of the Glass-Owen currency cur-rency bill 1-3 given by F. C. Howe In the Metropolitan The things the bill alms to accomplish are- To cheapen the cost of credit to the business men and farmers of the country; to make credit vailable on more equal terms and to free It from ; control by a few large banking gTOups centered In New York; to provide for the easy expansion and contraction of the currency and credit cred-it to meel seasonal and other industrial indus-trial emergencies; to concentrate the credit of a region and keep the deposits de-posits of each section to itself and prevent their flowing to Wall street to be used for speculative rather than for industrial purposes; to re tire the United States bond-secured currency of the national banks and to substitute in its place currency based upon the currently created wealth of the country. The bill is making but little headway head-way In the senate arid there are those who predict the Democrats will he unable to ngrer on the present measure or a substitute There are points of j difference among the leaders as to j the number of regional, or reserve, banks and as to the manner In which the capital stock of the banks shall ; be subscribed. The Republicans want only four regional banks; the Democrats demand de-mand eight to twelve The Democrats propose the cutting cut-ting down of reserves in city bunks to 18 per cent, in country banks to 1? per cent; the Republicans would place the reserves at 15 per cent In city banks. |