OCR Text |
Show BO WEN ON NATIONAL BANKS. IIe iMk he Government Alone fehonld Control the . Paper Cnrrencr. Washington, March 8. The morning business bus-iness of the Senate having been disposed of, Bowen at 1 o'clock obtained unanimous oon- Mi-n aress th.e Senate on the subject of j his bill "To provide a new basis for the circulation cir-culation of national banks." . ' The bill also gives the Secretary of the ireasury, with the approval of the President, Presi-dent, authority to suspend and resume specie spe-cie payments by the Government from time to time, whenever in his opinion the same will be conducive to the safety and to the business interests of the country Mr. Bowen did not claim for his bill perfection per-fection m details, but saM the principle contained con-tained m it wag sound. He would launch it on the legislative sea, not knowing where it ?.," anchor, but, with an abiding too late, the wisdom of its provisions would be appreciated. The f aot that legislation on THB SUBJECT OF OUB CURRENCY Was necessary he said,, admitted of no fhKLf?nratlonalBankf na famished h.flT16 thatthe country ever t .?Sf'to 8UIerand gold conY and the United States notes, the best we could TtLJ01-LTheie however, one S5e thaLhe Yould rather let the whole w?th Kn! hZard it8-lo-n8 oontinSKS witn mat one defect remaining, rather fore- fert9f WDy advanta?e8 than KS WnnfW2 the country through cT T def eot' Tnat defect was the power Rjyen by law to the : banks to rejmlate The volume of money. After careful Wstiea aMr,Bowen had failed to fmd tTny reasons rea-sons sufficient to satisfy his mind tTt the ecc?u&alW 1TOSistib led .. .' IBS GOVERNMENT ALONE Should limit .the ' paper current then- corporate advantage, reardle of t be plainerThan 'tha the poStolS the circulating medium Xufdeve? b placed in the hands of any class iJT. be rolled by any special iteS8 ?Lblcn: romalceor unmake the vehicle of ntZZl1 cause tie National BanKnould S &V retire their circulation .' d mddejllJ A CRASH WOULD FOLLOW Congresa, representee tfilwhnij1 to a lot 0f bX w2fflffig SS7 fill with consternation the mmd S 6and man who comprehends the dlSnnf 6ery that would follow a conteac&of ?Leffect rency to an extent possiblender rh 6 C?r-inglaw. C?r-inglaw. Mr. Bowen continr,TVhe "stable "st-able length to diSSfth? n8ider-bill n8ider-bill andlhe aJS ot the |