AMERICAN CURRENCY.
AN EMERGENCY CIRCULATION BILL. BY TELEGRAPH—PRESS ASBOCIATION^COPTEIGIn. (Rec. May 13, 10.54 p.m.) London, May . Washington telegrams indicate that there is 'a prospect of fairly satisfactory currency legislation 1 passing in tho shape, of a Bill authorising .tho establishment of a Banking Association for the purpose 'of issuing an emergency circulation amounting ■to a hundred million sterling, based on securities, including commercial paper held by the National Banks. .
" Commercial- ■ paper" is defined as " negotiable paper, such as drafts, bills of exchange, etc., given in tho due course of business."
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Dominion, Volume 1, Issue 197, 14 May 1908, Page 7
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90AMERICAN CURRENCY. Dominion, Volume 1, Issue 197, 14 May 1908, Page 7
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