Banking Reform

Cover Banking Reform
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1885 1886 1887 95.21 98.71 97.67 96.15 95.39 96.34 98.03 100.73 105.86 110.55 112.06 110.62 106.84 99.29 93.95 94.01 1888 1889 1890 1891 1892 1893 1894 1895 1896 1897 1898 105.31 108.20 109.72 109.34 107.93 107.78 105.67 104.00 103.16 102.47 1899 1900 1901 1902 1903 90.44 87.97 89.52 88.01 83.83 •85.92 •83.76 1904 1905 1906 1907 1908 1909....
101.75 ^Compiled from BMnanzherald.
Special Docket No. 570, 61st Congress, Second Session, p. 279.
Bonds TO MAINTAIN VALUE OF THE BONDS 163 from that of p
...ublic credit, can such an idea be entertained. Even if it could be carried through Congress, it would put into hopeless jeopardy the relations of the government with the investing public for the future.
§2. If it be accepted as axiomatic that the government must, in the event -of a change in circulation methods, in some way take a course that will maintain the value of the bonds so that the banks _ , ., Refunding shall not be obliged to carry them at a heavy depreciation or be the obliged to lose the amount of their shrinkage below par, the ques- tion remains how it would be possible to protect the banks against loss at the same time that the note issue basis was changed.


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