AMERICAN FINANCE.
PAPER CURRENCY BILL.. ADOPTED BY THE SENATE. Received March 29, 4.8 p.m. " NEW YORK, March 28. The United States Senate, by 42 to 16, adopted Mr Aldrich's Currency Bill.
With a view to copin? with the financial crises in the United States, such.,as tho3e which occurred in November last Senator N. W. Aldrich, Chairman of the Committee of Finance, and Republican leader in the Senate, introduced a Bill to provide for the issue of an emergency currency to the amount of 500,000,000d01s in the form of national bank notes. The notes, it was proposed, should be taxable at as high a rate as 6 per cent., and provision waif made authorising their withdrawal when the emergency which rendered their issue necessary had come to a termination. Senator Aldrich, in explaining the provisions o£ his Bill, stated that in the event of an emergency the measure would enable £100,000,000 sterling of new money to be placed in the channels of trade within 48 hours.
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https://paperspast.natlib.govt.nz/newspapers/WAG19080330.2.14.17
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Wairarapa Age, Volume XXXI, Issue 9052, 30 March 1908, Page 5
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165AMERICAN FINANCE. Wairarapa Age, Volume XXXI, Issue 9052, 30 March 1908, Page 5
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