Ogden Standard-Examiner | 1921-01-05 | Page 4 | Federal Reserve is Not to be Changed

FEDERAL RESERVE IS NOT TO BE CHANGED A report wan circulated from Mar- j ion, Ohio, to the effort thttt central H bank would bo created to supplant the H federal reserve bank system, but Sena j H tor Curtis of Kansas, who has ad o H cated a central bank, says Senator Harding has not committed himself to B such a policy. Senator Curt I s quot H e,j as saying that the ndmlnlstrat ton H of the federal reserve bank system H had not been satisfactory to the agrl- cultural states of the west, and that H unless It were made more effective in meeting credit demands of these H states, there would be a strong effort H to create a central bank nnd either H make the present system subordinat..' 1 or eliminate It altogether. is un- H doubteUly true that a majority of sen H ate Republicans would favor the es- tabllahment of a central bank, but there Is strong disinclination to dts-H dts-H turb the present system, especially in H view of the betterments In the general banking system which have already H been realized and which are expected. Senator McLean, chairman of the H banking and currency committee of H the senate, Is an advocate of a central H bank, but, notwithstanding his fronc H conviction that such an institution H vould -"fn-'.!! th nations banking system end Increase cVedit . resources, he Is not in favor of any j change in the present system at this i time.