Show ROBERTS ON 1 1 CENTRAL RANK BANK KA KANSAS SAS CITY Mo 10 Nov O 1 16 G Nine of all the lute objections now being olT offered red to central bunk plan the mark they do not ap aI apply ply at all to tho kind of a central hank bank that Ll IS proposed declared George i president of the Commercial National Bank of Chi Chicago cago and former formel director of the mint in an address delivered at a meeting I of the Kansas City 3 Clearing House association toda today The central bunk bank of issue offers a more treatment or of orthe the currency problem than an any other plan he said Jt it provides abundant elasticity un under del der responsible control It t provides a fiscal agency for Cor the Iho government through which its lis enormous collections lIons and amid disbursements ma may be handled with the least disturbance In hi the tho mone money market Vo Va are arc n not t pioneers in the tho move moc movement ment We are laShing lagging behind all the rest of the tho world There Thore Is not nota a country in Europe but has delegated dele delegated gated the b issuance of its paper cur currency roncy rency to a central bank The rhe Japanese began organizing their banking system In b by copying our system n of national banks with Issues of oC notes based upon the thc pu public debt but In ht ten years ears the they ered cred that they had not copied cople tho best system Then the they established tiro n Bank or of Japan a semiofficial In Institution modeled after the Imperial Bank or of Germany In the cities cillo the bankers under the pressure or of emergencies have loaned to come together and as without an any legal legaJ sanction j soma or of the tho functions or of a central bank We Vc saw the clearing house housein In I 1907 receive o the ordinary commer commercial commercial cial a assets of their mom members ers and Is IsSue Issue Sue an currency upon them and that currency passed Into Inlo circulation and served the purpose c of money mone The only with It was that It had no legal status and It was In itself u a symptom of oC disorder Those or of us who favor a central bank banI advocate not nn an independent competing Institution that will gather deposits from aU all over oer the country countr Jut but a central organization of the 0 ox It n a central bank banI or 01 u a central clearing house or a con agency or what you iii do for nil all limo tho under the tho c of oC law what thin tho W houses did for their members In 1907 an organization that will render cor tamu services to the government and to tile the banks and to the public which the tho banks are aro not so well qualified to perform i t Speaking or of the misapprehension 1 concerning the proposed Institution ill Mm Roberts said No Important departure Is over Oot made without opposition Every Ber movement or of this li kind n must be push pushed I ed cd forward through n a maze of sits sus anti and prejudice objections and counter propositions i iI i I |