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Newspaper
Corydon Democrat
Location
Corydon, Indiana, United States of America
Date
Jan 21, 1914
Page
4
Washington reports a sweeping currency banking reform set to reshape money and reserves across the nation. The measure creates regional reserve banks, requires member banks to hold reserves, and introduces treasury notes backed by gold and government guarantees to stabilize cash needs.
Land and lot parcels in Harrison County returned delinquent for 1913 and prior years. properties to be sold at public auction February 1914 at Corydon Court House. Auditor J. L. O Bannon certifies the list and amounts due. sale to commence February 2 at 10 a.m. A H G signs notice.
The conference changes keep the comptroller of currency and secretary of agriculture on the organization committee and make the comptroller an ex officio federal reserve board member. Alaska is excluded. regional banks set at 8 to 12 with $4,000,000 minimum capital. Individual stock up to $25,000. voting power limited to member banks. chair terms extend to ten years. salary raised to 712000.
The plan outlines government guaranteed currency backed by gold reserves and notes, with expansion to meet trade needs. It envisions regional bank consolidation, a market for negotiable paper, eight to twelve regional banks issuing currency, and a seven member federal reserve board chosen by the president with broad control.
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