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Show I IBM TARGET OF Jill If IS Wm Chairman of Monetary Cbm-mission Cbm-mission Replies lo Cross-Fire Cross-Fire of Questions. READY WITH ANSWERS Open Forum of Former Sena-IH Sena-IH tor Interesting- Feature of IH the Meeting. IH NEW ORLEANS, Nov. 22. Nelson W. (H Aldrlch. chairman of tho national mo-nc- H tary commission, was Uic target this af- ternoon at the American Bankers asso-IH asso-IH elation for a eross-llrc of questions from IH hundreds of practical financiers. But he H had a ready answer whenever his plan jH Tor the revision of the country's finan- i Jal monetary system was questioned. His open forum was the moat intcrest-jH intcrest-jH lug feature of tho long day of addresses dealing with various phases of the finan- t-lr.l problem. jH Mr. Aldrlch was omphalic In his rejee- jH tlon of a suggestion made In the address !H of President Frank B. Anderson of the jH Bank of California, San Francisco, who. HH while ho approved the proposed reserve association, did not think Its hands should jfl be tied by forbidding it to enter the open IH market for the purchase of commercial IHh paper to protect Jts discount rale- ijH Would 'Prove ratal. jH "It is utterly impossible." said Mr. j -Mdrich, "J think it would he wrong H and my judgment has been .confirmed IB that, such a plan would prove fatal to IH the institution." IB "I'o permit the reserve association to fM buy commercial paper In the open mar- fHI kci would prevent, enactment, into law fB of the proposed plan, ho declared. Fur- iher, he said, European banking Insti-IH Insti-IH unions had discontinued this practice. iH As to the possible inflation of currency. tH .Mr. Aldrlch said that after a certain jB amount of hank notes arc issued, nol liB fully protected by gold, they ought to be "Do you think the district association iHK would pei mil undue expansion in this care?" he asked. Congressman L. P. Padgett of Tcnnes- j yec, member of the national monetary j commission, made an impassioned plea to keep the proposed Aldrich plan free of partisan politics and the possibility of i special control. Anderson's Address. Frank B. Anderson of San Francisco spoke on "The Relation of the National Reserve Association to t lie Foreign Trade i and Banks and the World's Financial 'enter." lie asked for a hanking sys-torn sys-torn that would allow competition with foreign countries. No indorsement of the so-called Aldrich plan for revision of the, country's mone-tary mone-tary system was given by the National Association of Supervisors of State Banks before their fourth annua) convention of Hie association adjourned tonight. Discussion of the plan followed the Introduction of a. resolution by J N. Dolley. Kansas commissioner of bank-I:ig bank-I:ig providing for the election hy tlie as-soctatiou as-soctatiou of a committee of seven mem-bers mem-bers to consult with the national mone-tary mone-tary commission about the proposed plan, i 'J'lic resolution was tabled. J. E. Mohundro of Seattle. Wash., was elected president of the association ami F. lv, Roberts of Des .Iolnc3, scerctary-j scerctary-j treasurer. Tho next convention of tho supervisors will bo held at the same time and place as that of the American Bankers nsso-ciailon, nsso-ciailon, which is e.Npectcd to go to Dcn- |