Show VS fAVORS CENTRAL fOR U. U S. S Michigan Man Says Aldrich Measure Meets Most Present Needs w WASHINGTON March arch 2 Senator Senator Burrows of Michigan ig is inclined to favor a central bank as tho the ultimate method of reforming the country's countIe money system For immediato relief he be advocates tho the passage of the Aldrich Aldrich Al- Al I bill bi Ills views arc are thus given in an authorized interview 4 The The Aldrich view cv does not make revolutionary changes in m our banking bankin system It I is intended t to pro provide ide a of averting money mone- panics and its is machinery is made to correspond as closely as po possible sible to our present financIal financial finan finan- nan c cial al methods As s a basis of circulation national bonds have been used to the bt possible limit and and it is 19 for that rC reason f-ason f son that it is necessary to allow aHo tho the issuance issuance of circulation upon bonds of other sorts Borts My r- r judgment y is t that at the measure in J its is present form 1 is well wel adapted to head heat off such financial difficulty difficulty dif culty as b beset set us last fall all But Bitt But the thc enactment of the thE Aldrich bill bi in in no 10 way interferes with further financial lQ legislation It I provides pro immediate immediate imme diate relief and leaves Con Congress free freo freeto freeto to 1 later devise any plan for changing our financial sst m. m It I is m my belie belef that thu the necessity for such a change chango o ois is only a matter mater of f time We Vc have al already already 1 ready reached tho the point wh where ro in times of emergency tho present supply of United States States tates bonds is inadequate to form the thc basis ais of a sufficient supply of currency This shortage is certain to tobe tobe be bc intensified in in m my judgment as tho the years Ears go o by oy our enormous revenues rc the country will wl in time timo rc reduce uce its is national debt Jha That t means mesne still ti further furher reduction tion lion of the present basis of circulation For this thid reason tho the country countI must sonic some sometime tm time adopt a n financial system which is entirely divorced di from the national debt My y I- I present view yiew is that the need can bo be met by a 3 central bank ban under Government control with branches in various parts of the count country To this plan though I am not irrevocably com corn It If I a moro more promising plan can bo be devised I am willing to support it For tho the pres present oct emergency oncy tho the Aldrich Aldrich Al Al- measure affords s the best remedy which Congress under tho the present cir circumstances cr- cr cir cir- and without serious del delay dclay a can provide S Senator Burrows of Michigan Ichi an is one of the veteran members of tho Committee Com Corn on Finance |