Rensselaer Semi-Weekly Republican, Volume 19, Number 32, Rensselaer, Jasper County, 24 December 1897 — FOR POSTAL SAVINGS BANKS. [ARTICLE]

FOR POSTAL SAVINGS BANKS.

National Board of Trade Warwaly Dlacneoea the Proposition. The first matter which came before the National Board of Trade at ita aeegfcm in Washington Wednesday was a reeoiutfco favoring the estabiiahment of postal savings banks, which was introduced by the Chicago Board of Trade. It was stated in the resolution that the people should be encouraged to deposit their savtaxge in a department of the national government. The passage of the resolution was advocated by Mr. Lyon of Chicago, who said that the secret of saving lies in beginning. An objection was that it would concentrate money in the cities and would farterfere with the busfaKsa of budding ewKicintions, etc. After some discuretam the question was referred to a committee to report at the next meeting. The question of artificial irrigation was neut discussed, the basis being a resotation offered by tire Pittsburg Chamber of Commerce, which recommended that Congress enact laws to place the supervision of all irrigation enterprises in the hands of the United States authorities, where such work is undertaken upon waterways affecting interstate navigation. Mr. Pence of Cincinnati presented the report of the committee on international waterways. The report urges Congress to continue such legislation and to make such appropriations as will provide for deepening tire channel of the Miestaippl river so that at least six feet be permanentiy maintained from the mouth of the Missouri southward. The report was adopted. The afternoon Beamon was chiefly devoted to currency discussion. The gist of the resolutions adopted was an indorsement of the single gold standard, the gradual retirement of United States notes, the enlargement of the national bank circulation with a gradual reduction in the tax On the same, and, finally, the establishment of national banks with a capital of $25,000 or over in towns of over 2,000 population. A motion to locate a permanent headquarters tor the National Board of Trade in Washington met with general approval, but was referred to a special committee for final action. The active prosecution of the Nicaraguan canal project was heartily indorsed.