| Show WHERE EUROPE BEATS AMERIGA Senator Points Out Some Of Advantages of Old Worlds Banking System RESERVE IS GREAT FEATURE I I Il C Vo o 0 A to e lo to t Amount t itt IH lii J Or by IJ l l It 11 Mo to No Nn 9 t In Ing bl his bIt fl that ti r ho ha nor Ito ItoI I It dm t I I h monetary mon of or which he heU heis U is head h lied had uny II n pet schema rIt or Of 11 I reform utonn Senator AldrIch In thin elt dwelt at sit some length upon ionic of sit f th the a of at the bank big over lbs tha th system of the he United lI He lite ll Choke alter after a I given Riven by b thin tho HOUM Hou a ocl at al tho thu Baltimore hotel Senator Warnar of ed 1 the IslAnd ettor Mi Aldrich found In the th sY aye y teni trill the of ot li h lie It U said Mill that central b of ot France Prance and und the hold all the Ute rv of all sill the th of ot their countries He lie JI out that there Ur l It ic no hegel requirement Ing InK It for tot foreign banha to keep keel In lii their vaults vaun M ao 0 urge lar a i site K of or aa as la Is In III tha th and mild Bald that th Urn thin sub aub subordinate ordinate regard rf rd motley money In the central Just Jut HS at It nv for their reserve ea o UK ills If It t were to In tO n their onn oan vaults vaul HP Jle lb added addad that thaI for lor foreign lorvi eign vi do not nol hold aa a till money a sum euni greeter then than 3 J or 4 per par cent of or their while In tit tb ts United SIle the ave iM s 5 It 15 var r cent The I London h i ever r have hav either In their own vaults or In the th Hank H of or ig igland land It 14 or Ii 15 per cent elt of o their deposits In lit addition thee bank blink loan Ivan lar larK Large coins to 10 ho a subject to call c callon l lun un on n short untie notice which hid they tilt regard regaN as an another um of or r reserve Another Item of ot still Importance tance tunc he enid l I commercial h held heldI ld by h I lIWO lal banks b U is I receivable at tI 11 t DIt of or I and It In Is I ered by by bt 1 far the moet important portion of ot their re no reserve serve erven What Is 18 true I In England 1 Is I largely true In 11 and ansi In thia wet a the th bank hinka amass am a i redU at it th the central bank boink Is I in I IC a II res r a and th time ar are enabled to loan Mini from four to ti t 10 times tIme th Ih the amount they could loan under other oUtI conditions condition Mr Aldrich dwelt upon the Uin fact ful that ut laws mak mike no requIrement either a as to thin amount of reserve or their publicity The Tha percentage U Is l left IU t tto to th tb wisdom of ot the lie He paid that tIre the Credit Cre I the thu greatest private banking Institution In Iii the this world Orld practically no money In Its It vaults depending entirely th the Dank of France In cane of largo hugo de demands demanda mands manda up m It But Dut on alt the tha other othor hand Ine of ot the tb central Inal bank batik amount to about 1 5 per 1101 cent of or Its II liabilities not only rendering It II exceptionally strong but making It a bulwark for other oilier French rench banks bank Asking himself lt how hol the great RAt central banks ba themselves In times of ot stress lI Mr Aldrich replied rl They advance rate as ci cithey I they did dill tho thin other day For Fr what To Is 0 attract gold rold tom from other oilier countries which has hta the thes effect of ot building up Title This Is always In lOOT 1007 the of oC lIng land advanced lid till the thi rate Ie to 7 t Per r cont colIt lid that tha t step brought t gold tn from iy t I Mr Ir a bell then than governor of ot tho Iho hsnk what whal he ho would have havo ha done lOTic If It he h hud hd not nt th the Iho gold old He 0 replied Ife V would have havn put ut too the rule tip up P to 10 p per r rent remit lIl and that would have hse brought gold tIld out of or the thi earth Whet el eln I On itt the Ih Io do They ex cx extended X tended t It to 10 mrry esery pr one onn on who ho Is III solvent and who ho hiss has ha a right to horrow Instead of C shutting hull In II r their doors and stopping the Lh extension of or end and refusing to give to 10 t their customers UY they y lo sic these tho t two 10 o things thing They ThO pretest t their own ri rp ic ansi and they the extend credit liber liberally ally All to ever every otta oue who wim deserves It who wants ants It IL la ts the tho bo bols secret of f the method by b which tilt great hAJI take 01 care ro of nt and aid of nt thOM thins greet I countrIes In rob ablo trouble this the rigid of ot thin United States Slates Senator or A rth saul T I 1 think this will alTori nt to you rou li t show how that wo certainly ou oll lit bl to ln or r vory the whether our system In itt Unit Dial ra should not lint lie Ivi I re ted tedI I 1 hat no 1 tt doubt that tb lb which la is o her U Um m tn that our Is I vu l Is III it III IK HR ln t the he II of modern mod m o OV n nice olee It II was wall evident to all 1111 that Senator Aldrich found In III th the trY features which be he b IU iii to Ou our ions He lie spoke poe H It f the Ibo engendered by II tha tho I trulen method lI thod I |
