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The Commoner.
VOLUME 8, NUMBER 1
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Only Ono "MtOMO QUININ1C"
h I.AVA'IIVK IIIHlMii UIININK ,1'i
for Ilic MiMuiliiri- -l I'. W i.I.mM I "l
A mill out to iir- ll in "" '" -'
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AliDHICMI'S LMXANVIAli JIIIjIj
(Continued from Pngf 1)
Sec 3. That sill bonds deposited to
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Wn liavo Tnoro than IM.OOO nat Mini OUBirmrni in muru vnnii .i,ww .
"?,"?."..,,,!,, 1 1... I i.m tntiMwiM, liftvuoaoh Buvcd from 15 to
tin i.v i. ii vim' 11 Kuimiuioo iitovu or nuiu'o oa
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360 DAYS APPROVAL
ill root from our fuclory ntnrtiml factory prlcrn. No Btovo or ranRohM
IllHKlJl rripilUllMlior I'lunuraiTiniiiimi-iiuii '' " "
rlltU, Vlll HaVO RH Ol'IKTH (irillllD. liu J"jr vuu. ,"
Send Powln! For Catnlon No. 245
and mm lint of t iih win ro vro havo natlnlluil ciintomero.
Kalvmntoo Stovt Compnny, Mlra., Kalamazoo, Micht
Out tunt of tn thtrmrtntUr m baVl&H
abd tU61Uft(MI.
iml.Wl-Ll-lUJLl.i-MUirM
A-IMD
Published Monthly
REV. I R I.. R. HICKS, EDITOR
The IU'V. hi. It. Hicks' Almanac for 1 008
TIiIm Ih n iH'iiiillnil. ouil mill popular hnol;. Foi tlilrtj u-hin tlio iilut- l tlio Motcoro
IokIciiI mill Axlroiiiunlt'iil pulilli-alloiiH of How Irl. It. Illcks hnvn lieen trxteil. The iloinmiil
lor llli-kN' AliiimiiicliiiH Ini-nvwiil ainiimlly ami tlio rlrculalioii Ih now lnro ntul general. Tho
tegular price or Uimhi two peiluillcalK Is
Word and Works ". .$1 .00
Tlio Commoner 1 .00
Tolnl 7. . .$2.7)0
Wo will now offer these two porloillcals each one year for Ol.n.", TIiomIio accept this offer
will navoii'i cents on inch mihnctlpllon. Willi each Milcrlptlon also onecop ol Hicks' Alinuimc
foi 100H will lament KUIOIO. Si'iul jouroiiliTs to
Til 10 COMMON Kit, Lincoln, Xeb.
IDAHO
CAREY ACT LANDS
70.000 Acros of choice fruit and farm land still open
for entry under THE TWIN FALLS NORTH
SI UK CANAL.
T1IK TWIN FALLS CANAL SYSTEM is the largest
IrrlKiitlon project in the United States, em
bracing a total of -120.000 acres; 210,000 acres
u.VAor cultivation; nrj.000 acres filed on during
1907. nnd 70,000 acres under the North Side
Canal still open for entry.
LAND INVESTMENTS AIU3 THE SAFEST HANK
ON EAKTII.
These lands are located In the famed Snake River
eFlluiT liLTIt,Uh0' iU th m,d8t f ,tS
CLIMATE, pure, rarined and drv; winters mild,
short and little snow; abundant sunshine tho
year around.
SOIL Is a rich volcanic ash and sandv loam, with
a warm south slope and tho most productive
and fruitful upon which tho sunlight falls.
TOWNS on the North Side are Milner. Jerome and
Wendell, each of which offers Inducements for
tius home-builder, Investor and business man
ELECTRIC l'OWER-A magnificent power nKnt
costing over ;S 100.000 is now in operation at
Shoshone Falls More than 100.000 horse power
Is available in Snake river adjoining this tract
WATER niuiiT Is from Snake River, the seventh
largest river In the United States. sntn
FREE TEAMS are furnished by tho cornniLiw fn
either the Milner or Jerome offl e to show
homeseeke-rs tho lands. Drivers who are fa
Tnnii pWllh. U! ,ftmlS ftccomPn- e?Sr?r?cam:
lLRMS Perpetual water right, $35 per acre and
the and 50c per acre; first payment on water
right and land at time of filing, $3.25 per acre
balance in ten annual payments Short resU
denco only required. O,lori rcsl
HOMES -If you want a home, a buslne nn 1-..1
, gated farm, a sure investment sunh i I i
will find rich soil, fine climate, abundance of
water, good wells, electric power, electric rail
roads under construction, good neighbors ani
R. M. McCOLLUM. Sect-fit
Twin Falls North Side Investment Co., Ltd.
Jerome, Idaho.
Sole agents for the disposal of water rights and town lots.
secure circulating notes issued in ac
cordance with the terms of this act
shall be transferred to the treasurer
of the United States in trust for the
association depositing them, with a
memorandum to that effect, attached,
to or written or printed on each bond
and signed by tho cashier or some
other ofllcer of the association. A
receipt shall be given to the associa
tion by the comptroller of tho cur
rency or by a clerk authorized by
him for that purpose, stating that
such bond is held in trust for the
association on whose transfer the
transfer is made and as security for
the redemption and payment of any
circulating notes that have been or
may bo delivered to such association.
No assignment or transfer of any
such bond by the treasurer shall be
deemed valid unless countersigned by
the comptroller of the currency, with
the provisions of sections 5163, 5165,
51G( and 5167 of the revised statutes
respecting United States bonds de
posited to secure circulating notes
shall, except as herein modified, be
applicable to all bonds deposited
under the terms of this act.
The remaining portions of the bill
consist of additions to the existing
law. These additions provide for a
tax on the average amount of such
notes of banks' circulation as are
based on deposits of bonds other than
i bonds of the United States, provision
being made in this section for a tax
on notes secured by Panama canal
bonds amounting to one-fourth of one
per cent each half year on notes se
cured by two per cent bonds. Asso
ciations having on deposit bonds
bearing interest at a higher rate than
two per centum per annum are re
quired to pav a tax of one-half per
cent each half on notes thus secured.
A monthly tax of one-half of one
per cent is imposed upon the average
amount of notes issued on bonds oth
er than bonds of the United States,
and monthlv returns, under oath, are
required of an association to show
the average monthlv amount of notes
so secured in circulation.
Exempting United States bonds
called for redemption by the secre
tary of the treasury, it is permitted
by the bill that national banking as
sociations may withdraw their bonds
held for circulation security by the
deposit of lawful money to a propor
tionate amount.
Provision is made for the engrav
ing of suitable notes in convenient de
nominations. These notes are to
state upon their face that they will
"be redeemed upon presentation at the
treasury department, and they are re
quired also to express upon their face
that the promise of the association
receiving them to pay on demand
circulating notes in blank to a certain
amount may, upon request, be pre
pared by the government and placed
for an association in the sub-treasury
and be held for that association sub
ject to the order of the comptroller
of the currency.
A section of' the bill provides that
circulating notes of a national bank
ing association, when presented to
the treasury for redemption as pro
vided in section three of the act ap
proved June 20, 1874, shall be re-
?Teeme,dJn lawful mony of the
United States." The bill also re
quires: fJZ11'?1 naiional banking associa
tions ocated outside of reserve, or
central reserve cities, which are now
enua Wn l l k3ep a reser
equal to 15 per centum of their de
posit liabilities shall hereafter hold at
all times at least two-thirds of such
reserve in lawful money." -
ton describes the measure in this
way:
The bill will be introduced by Mr.
Fowler and referred to his commit
tee where it will form the working
basis for the framing of a bill of pos
sibly the same scope and tenor.
The bill provides for the complete
retirement of all present outstanding
national bank bond-secured currency
and authorizes in lieu thereof a cur
rency based upon general assets of
the bank to be worked' out in this
way.
The comptroller of the currency
will designate throughout the country
certain redemption cities, so that
there shall be a redemption city with
in at least twenty-four hours reach
of each national bank. The national
banks will indicate to tho comptroller
Of the currency to what redemption
city they wish to be joined. The
comptroller will then select a time
and place within each redemption
district for the organization of that
district in the following manner:
Each national bank in that district
regardless of its capital stock, will
be entitled to one vote. Represent
atives of the bank will meet at a time
and place designated and elect a
board of managers to consist of
seven members. The seven will elect
a chairman who will become a dep
uty comptroller of the currency and
assume control of his redemption dis
trict, except that he shall not have
charge of the enforcement of the
criminal statutes.
Each national bank is authorized
to present to the secretary of the
treasury national bank notes and
lawful moneys in lieu of other na
tional bank bonds securing outstand
ing notes. Then if tho bank's appli
cation therefor is indorsed by the
board of managers of the redemption
district to which it belongs, the bank
will receive guaranteed credit notes
to the amount of Its capital stock.
These notes will be subject to a tax
oi two per cent per annum. Each
bank will be required to deposit as a
guaranty fund with the treasury of
the United States five per cent of its
average deposits for the preceding
twelve months and five per cent of
the credit notes which it takes out.
The revenue thus obtained is to cre
ate and support a national guaranty
fund of $500,000,000 for the guar
anty of both the deposits and the out
standing bank notes of every na
tional bank. Eighty per cent of this
fund is to be invested in United
States bonds drawing two per cent
interest, while the remaining 20 per
cent is to be deposited in banks of
the various redemption cities for the
purpose of redeeming the guaranteed
credit notes of the banks of the va
rious redemption districts.
When the national guaranty fund
PATENTS secured on fee
i,v AKb, WILKENS & CO., Washington. D. O.
Subscribers' Advertising ept.
us?os? 'sksss! I.8uaaSr?nsiaiv:
a rate of six cents a word per In
sertion -the lowest rate has been
cations to Tho Commoner, Lincoln, Nob.
FOWLER ASSET CURRENCY BILL
The sub-committee of the house
committee on banking and currency
has reported favorably an asset cur
rency bill. The bill was drawn chief!
ly by Congressman Fowler. An Asso
ciated Press dispatch from Washing-
C ILR,?r 2c FRAMES ANY ROOF
5ebr& Sb0rn' BX "20,YLrn2oO
F9iR,.f'VLF IRRIGATED FARMS IN
California alfalfa, fruit, vgotabio
For prices and description of land a
A BARGAIN 700 ACRES LOUTSTANrA
oak timber land. Write Ttho Jn
er, Guilford Leslie, Ashland, Ohio.
SEND 25 CENTS FOR COPY OF "THE
Democratic Party; why it will win
in 908." P. O. Box '573sioux Fali