New Milestone in Growth of Count in Currency Reform
Special correspondence from Washington reports on a planned seventh milestone in U S currency reform. Speaker Cannon cites $3 316 134 000 in railroad and municipal bonds as basis for emergency circulation and traces banking history from early Massachusetts to the Second Bank of the United States amid postwar financial changes.
MENTIONED IN THIS ARTICLE
Washington, D.C
George Washington
Congress
United States
Cannon
Speaker Cannon
N. W. Harris
Ceneos
Massachusetts
United States Bank
New England
Bank of the
Nation’s First Pi c as Midestone Milestone in Banking
The article marks the first money milestone with the creation of the United States Bank in 1759 Hamilton’s role highlighted as a pioneer in early American finance and the push for national banking.
MENTIONED IN THIS ARTICLE
the Nations
Pic
Midestone
United States Bank
Alexander Hamilton
Synthesis of Jacksons banking milestones in U S history
The text outlines early U S banking evolution from Langdon Chaves in South Carolina to Jacksons 1832 clash and 1836 charter expiry. It notes the independent treasury shift in 1836 and the 1862 move to a national bank system, detailing impacts on finance and later changes.
MENTIONED IN THIS ARTICLE
Langdon Chaves
South Carolina
Jackson
Henry Clay
Emergency monetary reform reshaped U S currency system
The text describes an emergency 1860s measure to stabilize the currency and create a new market for Civil War bonds. It notes government bond deposits backing national banks and taxation of state bank notes, with key turns in 1873 Sherman bill and the free silver agitation.
Aldrich bill aims to prevent banking panics with emergency currency
The text argues for a national bank capital reduction and emergency measures to avoid future panics. It notes the bill would not overhaul the monetary system but prevent bank suspensions by ensuring liquidity and creditor payment continuity. It quotes a congress leader saying the bill intends to avoid bank profits and make suspensions unnecessary.
MENTIONED IN THIS ARTICLE
National Bank
Aldrich
Congress
United States Bank
Western municipal bonds shift control from New York to the West
New findings in the current financial investigation reveal the West now largely finances its own public improvements. The N. W. Harris report to Speaker Cannon notes the West owns more municipal bonds than expected, with western investors dominating issuance. NY bankers and savings banks still hold some influence, but Wall Street does not set bond values. The shift supports western bankers backing the Aldrich bill despite eastern opposition.
MENTIONED IN THIS ARTICLE
WEST
N. W. Harris
Cannon
Harris
New York
Wall Street
Morgan
Views on Elastic Currency and Bond Backed Money
Western bankers urge elastic currency backed by municipal state and county bonds to ease panic and ensure stable supply. Unpublished capital correspondence discusses asset currency, bond issuance, and government backing while Harria report notes bond market behavior during the panic and implications for 11,000 savings banks and municipalities.
MENTIONED IN THIS ARTICLE
N. W. Harria
Aldrich
National Banks Divide Benefits From Government Deposits
Chicago trust and savings banks held over 72 million dollars in bonds and lent them to national banks to obtain U S government deposits. The policy paid half of the government deposits as currency to the lending banks, benefiting state and national banks alike though the Aldrich bill lacks currency provisions for state banks.
MENTIONED IN THIS ARTICLE
Trust and Savings Banks
Chicago
United States
Infant deaths from bowel ailments warned by Roosevelt
President Roosevelt warns that infant deaths rival the menace of population growth and that eight of ten are linked to bowel issues. An ad touts McGee's Baby Elixir as a cure for diarrhoea dysentery sour stomach and related infant ailments claiming instant relief for teething issues.
MENTIONED IN THIS ARTICLE
Roosevelt
McGee
Chicago Board of Trade Chiefs Seek to Oppose Anti-Option Bills
A White House meeting on March 4 between President Roosevelt and a Chicago Board of Trade committee led by Hiram N. Sager discussed anti option legislation in Congress. They argued the bills would close large grain exchanges and harm merchants farmers and other grain interests. The committee would not reveal details of the discussion but said the president would consider the matter.
MENTIONED IN THIS ARTICLE
Morning Journal
Washington, D
White House
Roosevelt
Board of Trade of Chicago
Hiram N. Sager
Congress
Aldrich bill proposes emergency bonds and bank backing
The discussion urges holders to secure benefits from the Aldrich bull by furnishing bonds to national banks not owning them. It calls for large state banks to be provided with emergency currency in a panic, as proposed under the Aldrich bill in its current draft.
PAVORS ORGANIZATION OF CENTRAL BANK
The article discusses proposed elastic currency legislation inspired by the Aldrich bill as a safeguard against future money panics. It contrasts with asset currency aims of the Fowler and national bank officials and suggests congressional action would signal a new era of prosperity through currency system milestones.
MENTIONED IN THIS ARTICLE
Pavors
Congress
Aldrich
Grievances Heard On Northwestern Lumber Rates
Arguments before the Interstate Commerce Commission addressed four complaints by the Washington and Oregon Lumber associations against northwestern railroads. The suits challenge railroad rate advances on all forest products made in November. Further arguments will follow in a Portland Lumber Company case with similar grounds.
MENTIONED IN THIS ARTICLE
Washington, DC
Interstate Commerce Commission
Washington and
Oregon Lumber Associations
Northwestern Railroad
Portland Lumber Company
North Western
Congressman Lilley Sued in DC for Fourty Thousand Damages
Frank B. Lord former New York Sun reporter sues Congressman Lilley of Connecticut in the District of Columbia Supreme Court for forty thousand dollars alleging he suffered damages from Lilley’s statements about undue influence in favor of the Electric Boat company.
MENTIONED IN THIS ARTICLE
Washington, D. C
Sault Wes
Supreme Court
District of Columbia
Frank B. Lord
New York Sun
Lilley
Connecticut
Lord
Electric Boat Company
Agriculture Appropriation Bill Advances to House
The House Committee on Agriculture has agreed to the agricultural appropriation bill and will likely report it to the House. The bill totals 11,241,416 dollars, down 1,620,005 from departmental estimates and 1,954,056 above the current fiscal year appropriation.
MENTIONED IN THIS ARTICLE
Washington, D. C
House Committee On Agriculture
House
King Edward visits ill Campbell-Bannerman during influenza recovery
King Edward plans a month abroad and spent an hour and a half in the prime minister's sick room. Campbell-Bannerman, recently stricken, shows slight improvement but remains weak with influenza affecting his heart as he slowly progresses toward recovery.
MENTIONED IN THIS ARTICLE
Kadward
London
Edward
Campbell-Bannerman
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