OCR Text |
Show ,BOOT ARRAIGNS CURRENCY BILL. Declares That Measure Would Bring About an Inflation of Currency. Washington. The administration currency bill was submitted to a severe se-vere arraignment in the senate on Saturday Sat-urday by Senator Elihu Root of New York. He declared the measure, without with-out statutory limitation on the issuance issu-ance of the proposed new currency, could bring about an inflation of currency cur-rency that would result as "a dreadful catastrophe." The note issue section of the bill, he said,in a dramatic'per-oration, dramatic'per-oration, "exhibits the opinion of a great leader of the Democratic party whose heresies have twice been repudiated repu-diated by the American people." i The only check to an inflated currency, cur-rency, Senator Root contended, was in tlie hands of a federal reserve board, "appointed under the same influence that put into this bill these false the ories, and bound to proceed in accordance accord-ance with them." |