Democratic Sentinel, Volume 7, Number 51, Rensselaer, Jasper County, 18 January 1884 — NATIONAL BANKS. [ARTICLE]

NATIONAL BANKS.

Proposed Legislation by Congress position to tbe Sherman BBL , [Washington DispateAJ The Finance committees of tbe two hoi have entered upon the consideration of important subjects referred to them. 1 winter, when the bill extending the noth bank charters was passed, it was the gen opinion that the question of tbe existene the banks was settled for at least twe years, but, under existing conditions, time can be easily calculated when the b of the system will have reached its van rag point. Two conflicting propositions now before tbe Finance committees, looks to giving to the national banks a m stable basis; the object of the other is to timately supplant tbe present system treasury notes. Tbe Senate Finance committee has an discussion the bill of Mr. Sherman, which brief, proposes to allow national banks Issue circulation lo an amount within 10 cent, of the market value of the boi Provision is made that in the eventof shri age the Secretary of the Treasury shall b the power to call upon the banks to in good their margins. The meetings the committe have not been tended by all tbo members. Mo* Allison and Aldrich (Republicans) bav both been absent. Enough has been s« however, to show that the Democrats will pose the Sherman plan, while the Repu cans are not all prepared to support it- ’ Democrats are not prepared to go furt than to agree that the banks may issue cir lation equal to the par of the bonds. Thi an Increase of 10 per cent, over the exist law. They may also vote for some reduct of the tax on circulation. The Republic •f the committee are not all agreed to i plan of tbe Sherman bill. Senator Aldrich proposes to introduce a of his own which proyides for the exchai of the 4’s for 3’s, with the difference to pa : d in cash. Then he would allow the bai to issue circulation equal to 100 per cent.the value of the bonds, instead of 90 ] cent, as under existing law, or 90 per cent, the market value, as proposed by Sena Sherman. He thinks that a bfll like tbe < he will introduce will settle the bank! quest on favorably to the banks and tbeooi try for twenty-three years at least, which does not believe will be achieved by Mr. Sb man's proposition. The suggestion of the Secretary of Treasury, that an additional appropriat will be necessary If the printing of the and $2 notes is continued, will furnish a n text for the discussion of the financial qu tion. Some of the silver men indioate th purpose to take advantage of this suggest) to refuse an appropriation for the $1 and notes, the expectation being that if tb< notes shall be retired the effect will be force the silver dollar Into circulation. .