A Graded Banking System Formed By the Incorporation of Clearing Houses Under Fed

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A Graded Banking System Formed By the Incorporation of Clearing Houses Under Fed
Theodore Gilman
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Experience would be exchanged, and a mass of information gathered which would promote con- servative management. STATE AND NATIONAL ASSOCIATIONS. Provision is therefore made in sections 23 and 24 of this bill for the formation of state and national banking associations. The meetings of state associations and the national convention would give opportunities for accustoming our banks to united action. These unions would strengthen our national life, and in any occasion of great emergency our bank...s would be trained to use and exercise their power for the public benefit. If the financial sceptre is ever to pass across the Atlantic, our hands must be made ready to hold it. 130 BILL TO PROTECT CREDIT 54-TH CONGRESS, IST SESSION, H. R. 3338. In the House of Representatives, January 7, 1896. Read twice, referred to the Committee on Banking and Cur- rency, and ordered to be printed. Mr. Fairchild (by request) introduced the fol- lowing bill : A bill l to protect and support commercial credit, to equalize rates of interest, to provide for the in- corporation of clearing houses, to regulate and define their operations, to provide a clearing house currency secured by pledge of commercial assets and the responsibility of the associated banks, and to provide for the circulation and redemption thereof.

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