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Show EXPERTS FAVOR RESERVE BANK Expansion of Credits and General Gen-eral Increase of Confidence Is Forecasted. Chicago, March 14. Optimistic views of the probable operation of the Federal Reserve act are expressed express-ed by financial experts gathered here for the conference of the Western Economic society. Expansion of general commercial credits, limitation of stock speculation specula-tion and a geuernl increase of confidence confi-dence in the stability of bank reserves re-serves were expressed. Tho only fear was that a limited period of uncertainty uncer-tainty might occur during the readjustment read-justment of returns between the banks and their nov .reserve centors. "The United States has adopted the policy already recognized and es tablished elsewhere, George E. Roberts, Rob-erts, director of the United States mint, said. Tho system will be of advantage to every banker in the country, whether he is a member or not. "It has provided a centralized, official of-ficial control of the banking reserves of the country, to bo exercised through tho dlsdbunt rate, and supplemented sup-plemented by hc power of note issue. is-sue. It. is apparent, that the more completely all' reserves are brought into the system tho more complete and effective the control will be." System for Common Good. . He declared that the system had been established for the common good and besides would be of protection pro-tection and advautage to every banker bank-er whether ho joined It or not, through greater security and stability, stabil-ity, ' "There Is nothing in Ihc plan that will release large amounts of gold for exportation or even give it early probability," continued Mr. Roberts. "It is truo that the systom can be operated with less gold than Is required re-quired for our very costly gold certificate certi-ficate currency. The truth Is that we are approaching extravagance, not to say wastefulness, in our gold reserves. But the old system has worked under fixed conditions, without with-out tho direction or elasticity, or adaption to changing conditions. The new system will be a living agency, with powers of initiative and se? help and will make it possible to issue is-sue additional currency without Increasing In-creasing the reserves." nn |