{"newspaper_name": "The New York herald.", "edition": "01", "page": "p3", "byline": ""}
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sAts ofthe plan, and we should In few years have
valuable currency than We ever have had within
the history Of the government Tho removal Of the de.
posts Of the General and State Governments from the
banks would prevent any othe sudden expansions that
frequently derange business and draw the commsrcsl
classes into specuatons, and trading In all tho sta.
pie articles OF trade 80 long there surplus reye.
nue. belonging TO tho General and State Governments
deposited with the banks they viii their opera.
tions upon H. The directors Of these institutions watch
very cloaey the movements Of the Governments and in


form themselves thoroughly possible ofth probable
expenditures so that they govern accord
ingy They therefore abba to tell when expand and
whea to curtail their operations The Government de-
posit5 in the banks of this city and State on the
Is. of December, 1915, amour ed to S3el4l7s and
the deposits of the State TO the credit OF the treasu
Of the State and commissioners of the camel
fund, amounted to S22l2,s93, making aggregate
Of So amount equal to twohirds of all the
specie the banks OF the State. The establishment of


government subtreasury, and call for the deposits in
specie would drain the banks Of this city of than
half the specie in their vaults The large amount of
State and government deposits in the banks of the State
and the probability of subreasury bill being passed
by Congress this session. will keep these institution in
check and prevent expansion rapid as would
otherwise be experienced. Whatever tends to check
the expa nson of the operations OF the banks is beneficial
to the commercial classes and is at this time par
tculsry fortunate that are in position to feel the


financial revulsons in Europe much less than should
il otherwise situated. Heretofore commercial
sons in England have usually produced much embar
rassmen in this country where they originated; but
affairs in such sound, healthy state, that
fear very little danger from that The diff
outes likely to grow out of foreign relations OF
the greatest importance and what may be the result OF
the position taken by tho President In his late message
OF any action of Congress regarding the questions in
dispute is at present impossible to predict