Show I 1 MORE CONFIDENCE NEED OF COUNTRY J. J J. J Hill Gives Monetary Committee Committee Com Corn His Views on Fi Financial Financial Financial Fi- Fi Reform B By Associated Press St. St Paul Minn Oct 21 J. 1 J. J J. J Hill appeared unexpectedly b before Core the tho monetary mon moo committee this evening to give Ive his ils opinion on a financial plan for lor the COli coutu country II tr try Mr Hill discussed the entire financial finan cial situation He lie Bu suggested ested that for tor forthe the he purpose of oC borrowing mon money fluency first first- class t bonds and In Industrial securities should be recognized as IS proper security for or loans Joan b by banks Members tembert of ot the committee sUJ suggested that good notes s as is now legalized should b be ba Included ll In Inthe intile he tile plan Illan Mr Nr Hill cited an instance luring a recent stringency when he hue loud had wanted to borrow mone money When hen the he banks lanks wore refusing loans Joans on notes which would at other tinus js have ha been considered as 1 first-class first security he ho went vent to New cw York with Hh a lot of or railroad railroad rail- rail road oad bonds and borrowed what money he ic wanted Wo We e have hare money enough in the country coun- coun I coun-I tr try ry now flow ho lie said What Vhal we want Is 11 Ismore more nore confidence When hen tho the people have confidence the business s of the thc country goes Joes ahead Mr Hill advocated a 1 modification Inthe in inthe the he plan for tor the tho organization of oC the central reserve association which Is la under tinder consideration with an nn author- author zed Iud capital stock Increase e from to He lie contended that hat each ach bank holding stock In the association should have ha only one vote ote and nd no vote ote for or stock ownership that there hero should be no government go directors tors tois ors on the national board that tho the national res reserve r e association should he be permitted to make loans to member banks anka R on security consisting of ot first first- class lass bonds of ot railroads an and first class Industrial corporation bonds He lie also advocated that the lie reserve ns association should pa pay the tho government o interest Int on government go deposits and anti that hat notes of ot the thc association should not flOt ot be he taxed except after thc they had been In i circulation for sixty or for ninety days ays ap Congressman Bon Bonynge asked Mr 11 lUll Hill With modifications and changes in inho inthe ho tho plan plait that the committee ha has under consideration as you OU have suggested ted you ou would then thell favor ta tho tile organization of f a central reserve reserve- as association It Itis Its Unqualifiedly Mr Ir Hill replied is III s a necessity nn and tho the country countr cannot postpone it safely for an any I length of or line |