People's Pilot, Volume 3, Number 8, Rensselaer, Jasper County, 11 August 1893 — CARLISLE ACTS. [ARTICLE]

CARLISLE ACTS.

Piss »f ithe Secretary of the Treasury I Believe the Financial Stringency. Washington, Aug. 3.—Secretary Car lisle has notified the 150 national bank depositories in the United States that their authorized balances have been fixed at par of security, and instructing them to transfer any excess to the nearest subtreasurer. This action of the treasury department will release to the banks about $4,900,000, and is intended, as far as practicable, to relieve the financial stringency prevailing in the country. According to former regulations each depository bank was permitted to holt! government funds to the extent of from 90 to 95 per cent, of the United States bonds deposited to secure the same. This action of the treasury permits them to hold government funds to the par value of the government bonds on deposit, and it ia believed will have the effect in a slight degree of improving the financial situ** tion*