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Newspaper Page Text
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CURRENCY BILL PASSES UP
Washington, Dec. 20. The cur
rency bill, passed last night by the
Senate 54 to 43, will be a law by
Monday, if plans by congressional
leaders for speeding-up of the con
ference process materialize. It is un
derstood that those certain to be
named on the conference committee
of the two houses have been meeting
quietly for .the last six days.
Pres. Wilson has expressed him
self as delighted with the Senate
draft and will'sign the meas'ure as
soon as it reaches the White House.
The currency bill, as It passed the
Senate, provides a plan for concen
trating the reserves of 25,000 banks
into the most gigantic banking asso
ciation in the world.
It provides for the mobilization of
these bank reserves; it provides for
the issuance of elastic currency
through federal reserve notes which
may be obtained on the security of
commercial bills of short maturities.
It establishes an open discpunt mar
ket, where commercial bills and pa
per can be discounted at low rates of
It provides for safe-guarding the
2 per cent bonds; it establishes for
eign branch banks to lake care of
our foreign commerce. It will stabi
lize the commercial, financial and in
dustrial conditions of the U. S.
It extends a strong helping hand
to the farmers and producers of the
country and will be very Valuable to
business men as well as to the bank
The system is under supervisory
control of the government through
a federal reserve board wth full
power to fix the interest rates, con
trol the elastic currency or federal
reserve notes, examine the banks
and remove officers or directors of
any federal reserve bank.
The system will start with $53,
000,000 of capital and will jn two
years have over $400,000,000 of re
serves and probably $200,000,000 of
government funds distributed
through from eight to twelve banks
adjusted to serve conveniently and
sympathetically every section of the
SAYS "POISONED NEEDLE" GIRL
WAS "JUST DREAMING"
Police Captain Meagher of Des
plaines street, who thought he had a
poisoned needle artist in his clutches,
today disgustedly exclaimed that
pretty Miss Opal Hummer, from a
Dunkard community near Portland,
Ind., "was just dreaming."
A few minutes after Miss Hummer
excitedly reported to the police that
a man with a poisoned needle stab
bed her in the wrist in the Union
Depot, two coppers dragged to the
Station Dr. Marcus H. Lynch of Tem
pleton, la., charged with tossing a
rock through a restaurant window
because the soup was too thin. In
the doctor's pocket was found a hy
Lynch was about to be taken be
low when Miss Hummer appeared.
She was positive he was not the man.
An ambulance surgeon said the
wound on the girl's wrist was an old
CHEER UP, THERE'S A PLENTY!
The establishment of three Chinese
restaurants hi London leads a writer
to remark that Londoners can now
enjoy a meal of rats which form a
favorite dish in China. Split, dried,
dressed and powdered with finely
ground white bark they look some
thing like haddock. Dr. Arthur
Stradling once, said that rats would
n,ot only be wholesome but very nice
if properly prepared.
"No common dock or house rats,"
he said, "but such as I ate. barn-fed
animals, snared in the hop gardens."
Admiral Beaufort and other explorers
speak highly of rats as welcome ad
ditions to their supply of food in those
dieary latitudes of the arctic regions.