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Ohio Governor Proposes Banking Reform and Currency Fixes
The governor argues for personal stockholder liability, limits on bank leverage to three times specie, mandatory gold or silver note redemption, exclusion of small denomination notes, regular public disclosures, and ban on post notes. He cautions against bank suspensions, urges a sound, convertible currency, and notes the state banks’ generally solid condition with few suspensions. The speech seeks broad debate to craft a permanent banking system.
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