Proposed Currency Law Moves Toward Recess For Jan 12
The House adjourned to 2:30 pm tomorrow hoping to pass a joint resolution for a recess until Jan 12. Debate opened at 7:30 pm on the reform, defense of the conferees report, and the new treasury note provisions with regional banks under government supervision.
MENTIONED IN THIS ARTICLE
House
Representative Glass
Glass
Senate
Hayes
California
United States
Underwood
Mann
Mexico
America
Conferees approve core points of currency reform bill
The plan removes deposit guarantees, sets eight to twelve regional banks, and bars existing notes from reserves. It creates a Federal Reserve Board controlled system with gold backing at 40 percent and a gradual reserve transfer over three years, plus new treasury notes and regional bank powers.
Provisions of the New Currency Bill
Washington reports the conferees' plan for a sweeping currency bill guiding finance, banking and money matters. It creates Regional Reserve Banks to pool lender reserves, allows banks to loan on farm mortgages, and sets timelines for joining the new system with 60 day filing and one year for dissolution if needed.
MENTIONED IN THIS ARTICLE
Washington
House
Senate
Congress
B. W Grovbe
Principal Features of the New Currency Bill
The plan creates 8 to 12 regional reserve banks where national banks place reserves and can borrow against them in stress. Regional banks issue treasury notes for emergencies, with a federal board led by the President supervising. Banks must join or face dissolution, and local banks must hold 6 percent capital stock in the regional bank with 6 percent dividends. A 40 percent gold reserve backs notes, with notes replacing old currency as needed.
MENTIONED IN THIS ARTICLE
Treasury
Federal Reserve Board
Washington
Secretary of the Treasury
Comptroller of the Treasury
Regional Reserve Bank
Regional Reserve Banks
United States Treasury
Federal Reserve
Federal
Reserve Bank
United States
Federal Reserve District
New York
Chicago
St. Louis
Summary of the bill’s final framing and main details
A concise epitome describes the measure as finally framed, outlining the bill in full and highlighting its principal provisions and key features. The summary emphasizes the overall structure, scope, and major components that define the enacted text.
309 Deaths Among West Virginia Miners
West Virginia mine fatalities for the first 11 months of 1913 totaled 309, down from 840 in the prior year. Earl Henry, chief of the bureau of mines, reported one death per 700 000 tons of coal mined in six counties. Mine employment rose by about 6000 workers.
MENTIONED IN THIS ARTICLE
Charleston
W. Va
West Virginia
Earl Henry
Bureau of Mines
Miss Thresher Weds High School Teacher
In Dorchester at the bride's parents home nearly 100 guests witnessed the marriage of Miss Florence E. Thresher to George D. Richert. Rev. James Reed officiated. maid of honor was Bertha Richert and best man Thomas Green. After a Christmas trip, the couple will live in Winchendon where the groom is sub master of the high school.
MENTIONED IN THIS ARTICLE
George D. Richert
Florence E. Thresher
William H. Thresher
Marlowe Street
Dorchester
James Reed
Church of the New Jerusalem
Boston
Bertha Richert
Thomas Green
Tufts
Winchendon
Highland Dress 12th Annual Concert At Odd Fellows Hall
Highland Dress Association hosts its 12th annual concert and hall at Odd Fellows Hall on New Year’s night featuring Scotch dances and association band music. Committee members include Stewart chair and Bell Grieve plus Daig, with reception aides Alexander Simpson Niven and Bell Jr. Also an ad for Laxative Bromo Quinine remedies.
MENTIONED IN THIS ARTICLE
Odd Fellows
Highland Dress Association
Association
William C. Stewart
Thomas Bell
Neil, Buchanan
Thomas Grieve
William Daig
William Alexander
David Simpson
Peter Niven
Thomas J. C. Bell
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Central Reserve City Banks
York
Secretary of Agriculture
Boyle Bros
Washington Street
South End
Hollis and
Dover Sts
nAion Reed Cort
Dr. A. Reed
DR. Reed Cushion Shoe
West Street
Tremont St
J.P. Smith Shoe Co. Inc
Ebberts Shoe Co
Wolps
Hanover
Portland
New England
Court St. Ehrlich & Kopf
New City Hall Annex
Thresher
London
Jaynes’ Limited
Umina
Umina Conchas
el Tema Perfectos
Girard Brokers
Jayn
PSE
Jaynes
Quincy
Blackstone
Elcho
U. S
Ker-Jaynes Drug Stores
Riker-Jaynes
St. Jefferson
Salem
Ince
bon'Van Camp
Brookside
Sicily
Ise
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