Show ON CURRENCY ISSUE of Definite Plan for Reforming Conditions Not Yet Yot Taken Up by Commission PROBLEM IS VERY SERIOUS N Nv ot 1 1 v lot t III II day Any 11 lie Ue con W Vi Wl V I 1 hot 6 Nelson Hand l Island J nd tonight In ut IU hf the O dd 1 the of ot a It erica of f t fi club dI d I tt r iI ht he i It III to nuke make the I 1 st 01 the object ut f 8 U la laL I of r 1 lh o u lon i i t dell pr II tl IV L 1 p t on l y fur tor tho ter terI lady 1 11 I ted tt t 1 tr th u II l v ted Aid Ald UH use U I 11 I cm fur for the 1 U 11 1110 10 w nt of t he ha h bank project Vt or orn n der J lu f t national hi hiI his I h n u 0 i Late P 19 1 tI In ln the ot of f r I re II dart at al the enfant 1 Jrp arp I 0 II lOr f ft 1 plan e th k i the hr I pl inn 1111 S 1 1111 not nol Vet et eta eL eLI tr a r Hn I III n I h r t h commission and 1 would be obe n neR dl cal ant had been e r f Hi Ih II most moat careful and er eri 1 eR Its i t 1 of it all an the condition tu tI th O a I fl I seS 01 1 i t ti t i the present al 11 r in en 11 01 I tu la o 0 i a it iti l I ii 11 to w ou U as oa represent t I 1 nij V section anion s tot to 10 toi I It n ti t i the cite t i 1 and I u c Ian ilu II adoption of ot a set setI H i 1 I S I ml pl II un on one thai that Wilt will willa Dun a UP 11 i ml lid the tho 11 ll I Ill u Ic l l pl Of ot tills TofU 01 IL II e I b atnee I i I n n I ugh Iii tin Iii m III upon Ulan the bual I la r ni N III rUlly to fuel feel their I 1 lI Individually and II J the tor out oUI t n t n 11 IHrk rk J der Multi II pert part I rt M 1111 US ItS t 1 tonight I to 10 call Cl I the c al i nl i II and ami I i in I ii I t I o come Koine IllEl of ot the tile more Inure moret J t f in w f r iti Ih the work ot of the nani na ni 1 1 an tai IAM I Th The Ues it II In I gnat and In t I iii tt J t b mi MO SS l l n JaUM Ju that Uial I 1 t I mu t 1 ue be ho hug frug hugn H n I 1 n Iole tt I I f b h b tale hl to give to tho III liI Hi I i a u hors chort t I the h ful s with ref reri i 1 r ii w i i 1111 and anil practical I 1 in min countries and of or our ourn I It ItI n I r I II a a 11 A t hu hal ha been b en submit submits I In s SS i twee n given Klien to I II n I r II l hu hoIl reaching any all rt t 1 a k i Of ot hu bu bui i IU 1 I III I the country 55 un an n Ii i j to what If It any allY poi 1101 n Ii I l and valuable In 11 ine I e aun 1 jf a plan fur for the i fIa n I 1 I lee treat i I eve Leon ixon II i n uio ia lin lInI t l nt e il i n coon cn whose j t rr M mil iti I re 1 had haU their S S pf sa I il al I tahir have item n coiled i T e t e td I t h end and A assI fence 1111 our ourI II i aka oSk f t iliou II thin rhia wisp l I f n if u Mi air i S ti to Ij 10 be 1111 Orul intuit Mi mL iV Ir in of ot nt country r IL II h U to I not r rat ta la t I but bul l t If surrounded l Ity by y yi i v Iff u e he I I hair prat tu to tuI t tant I con n iV re ant ot or SO of ot ion poo I IpIe pie then the requirement of or 2 banks bank state elate Tout national with differing Interests nome come with the th rl hl ht of or note flute issue nil all jealous of ot shell theli own right and till nil nil I U Ill II o Ln in an es to and all unwilling to 10 accept changes that are not lot plainly plain I along alone alon the ulna linn ur of acknowledged Im Improvement provement t The problem pro Is l I too rlou t to b be I upon Too many treat greet Intermit an are Involved It nt III too mum many vital point the economic life of nr II trio the states t and en l It its future devel deyet development Any radical l mutt mu t be become become come rome oJ erth only ont from tune time to time U 8 so o a 1 not to these thew and relation OLD OLI r relee l over note and meth d are aM an all a ancient HA as bank To Tu secure I It ft la Is evident that we C must mut all aU u lay IlLY aside our prejudice IH out our l no n noun oun our redl to tu advocate to method but with a axed nn lly to ag agree udon nine MOl plan that will fairly cut the combined Idom tI of ot all al Mr h sold mild lid he ht regarded an af st of or the credit and anti b system or of the country an as much more Important the ilia question of ot note I ue I J am Dm am aware anare mid lAid he that In other oth r countries In the Ih i t notably during the la hut t half of or the eighteenth century and anti the first Or l half of or the nineteenth the of or note Issue that IB is to say who should hould have havo tho tight right to issue bank notes note upon who whet t conditions they the should bo IJo h Issued ud what kind of ot security lC to 10 be he r fun d tho the subject of ot most of or the monetary of ot the th time In those e conn countries trie with a it Ingle engle exception at the present time all thoughtful men look on the this proper manner incliner and character of or note noh IIII Issue aa as aano aen asno no n lunger longer one of paramount Im hit Importance The conclusion liaa has been marked that bank note hue should be made under governmental control or at ot lea least t subject t to strict governmental restriction and this can only be done dOlle through one central bank of ut Issue Our system of ot bank b note nole Issue IRue U Is I equally to those thuie tho believe that all l hanks should have ha n 1 right to Issue note noten to circulate n as amity 1111 a as s free freely Ij ly I a as they twy f open credit on their looks anti and that no evil can call fol tol follow oh low luw a legislative grunt gront t gf f thU thes right and to 10 those who are arc rt nut not satisfied nl to tolu pare liar lu C the th volume of lit note hectic III ue der depend dependent et end nl ent lIt upon uon the tI amount or of I lands Hind rather roth llian ulan tine th demands demand of or It was nan all the tho Intention of ur the till framer of ot the llie legislation of or 1908 10 t b furnish tannish nn an remedy that continue l only until some mine 1 flout pulley policy lx Ix upon Th The Monk r I referred to tl th the disastrous tI that followed the financial rI of or 1907 19 and the th y tin thou tl n that with a 1 better monetary eye tnt tent It lie i l could have hac t been en avoided I am tin or of courts course cour aware he con oon tinned that with the nature of or the American Am people who whose hoo nervous energy eller U is not always confined by of ot prudence we ere are certain to havo have re recurring recurring ft periods or of over aver speculation and ami andor of ot abnormal II nation lunation III of ut values Hut But 1 I Iam am alit tutu that It la is I quite possible by confining the effects to the Uw ft eons n and then their Immediate financial sup lort is to save edva the business an and I the tha great Interest interests of ot the Ih country I from Aunt disastrous ill suspensions of ot blAnk banks and ond a destruction de of ot credit Th The senator said Mid the power of ot th tit the groat banks of ot l ume to prevent pall paa Im Irs IH Is largely In the Die Inherent strength of or tho the Institutions all and In tn the confidence of or all an claME 8 In their jj I iu sal to take IRke onto 11 re of or anY II Y Mr h continued One of n lh thin mast lI t lion with wl wi ich sh h the tho Ih lon hn tied hud to d deal il in Is I lu to h whet what weight should Ib I given Die me that other oilier have with adopted or t 1 certain with Ith ence to honking and end ind how far tar thin um urn t beauty H v ft or t and nud anion lInn should bo be h In lit the t II pr t n of or II a aplan plan for fop our country 11 It We Vs cannot afford r j ignore foreign n e arc Aro not able II bl at II I this till tint time to P flU put t tf f rt t ii d 1 flout form the th of a n nt credit t o we think de for or the 1 t Idt d but Wt wp w v can n agres gr n matters mattera end ami lid n tint fiat T rr rat It be h guard against or eam ell oaf nat nati tl I from rom any rh he me i rt ANS yn 1 I It would tr M be to M se Min in all credit tint that 1 uld inter Intel r reI faro ro with Ith or m control this the If c ex exi X i banks in or O or at 1111 mold Ix wed used 1 for speculative I o os or that mould uld bf be w wb b by the tho financial I men n or In InIn In iii one on section of r the country We tle hate many financial centers enters of r nl al In tn lh the i State between en whom natural i and form turm our I lion might take tk It II In Ie I nere I essary ery a ry Ui W guard 1 giving gk ing to one Oil bankin any advantage over er erit an ah another other lh it 1 II of or equal If It not greater to 10 ad adopt pt some fume of ot th the mote more 0 Important features of ot system that th t tha have liae ha e been beon successful In other I J have too touch mUM In III the Inherent In Inherent Inherent herent good judgment anti and Intelligence or f our n to believe I that t this dead political H at ot of or a century ago could bo ha revived re veol or that the Kho ghost t of ut Andrew Jackson could be summoned I to a consummation tion that would be advantageous Mu to al III Third whatever may foe If the tho alvant ages oge gel of r a II system of ot branch banking In other countries C 1 do I not think It II N I po possible to adapt it to condi conditions then tlona In III the th United Untied l Stales Mr tr A Aldrich Id ri ili said mid hI that M as soon noon n IA as the tho preliminary studies and Cun can he h lute hid the commission will begin preparing a plan plow It II was a evident that the 0 would not be able to tu present a plan at the coming se e lon or of f r KHi but he lie wild stud It may nw be IJ Rbi abl to make mlee a 1 report at lit the beginning ut of th the third thin ee on of It the present Con |