Show BANKER HAMILTON MAKES A VIGOROUS STATEMENT washington jan 31 john 1 hamilton former president of the american banking association appearing before the house committee on banking and currency today in the course of a vigorous statement took a position squarely behind the mckenley anan caal bill representing the view of current commission of the american bankers association and in opposition to the bid by Senator aldrich and representative fowler the scheme of the aldrich bill tor the issuance of emergency currency on such security as bonds of states counties municipal and corporation was denounced by mr hamilton as impracticable unwise and financially unsound he asserted that this proposed departure from the currency security system which has obtained since the foundation of the government is a step backward toward tho conditions from which arosa the wildcat wild cat currency in use before the civil war the marketing of non government securities he said should be no part of the national business and further more the necessary delay incident to determining the value of bonds offered as security for the emergency currency would make it unavailable until after the crisis was past crises he said are short sharp and dangerously decisive the aidrich allf Is a remedy offered after recovery from death |