New-York tribune., 1906-11-11
PRICE FIVE CENTS.
BANKERS MUST AGREE.
FOR CURRENCY REFORM.
Favorable Legislation Likely Whep
Practical Plan Is Presented
tFrom The tribune Bureau ,

tFron The Tribune Bureau,
0ns'on' NOV. 10.-Currency reform leg
.4, s-a'on looms large on the horizon II Is ex
pected that the Bankers Association c,rrsnr,,
commission. representing large financial instttu-
tions IN all parts OF the country which will r,aas
IN this city Monday will ag-sa .
action to be submitted 10 Corgras. ,t,.
PRESIDENT Roosevelt has let II be t,ou-,, ,,,. a
'ieie Is unanirnity among the leading bankers a,
.ne country In favor OF specific practical nra-
iof ehe Improvement Of the national currenc,,
system he will approve IT and will urge the nro-
posed legislation upon Congress-
A' Is thls prospect that something definite vrtfr
oe agreed upon and recommended BY the Wash
inston conference that leads the friends of cur-
rency reform 70 believe that the way will ba
paved for effecting some important changes
secretary Shaw and the currency officials %
'he treasury Department. are n1anifastfng great
interest IN the approaching meeting OF the bank
ers. Although the Controller OF the Currency.
MI Hidsely. has not been asked TO attend III,
conference, IL Is likely that the members OF tbs
COMMITTEES viii find an opportunity n .orsv1.
with him about the form OF the proposad ros,.-
ure which they hope TO agree upon. Mr.. Ridx4Iv
saio to-day that he regarded the coming meet
ing or the bankers as OF great Importance. and
'hat he was confident definite results vou1a b.
ontained II the meeting proved harmonious ans
practical plan was adopted Mr. RtdeaI,, -,
recommended greater elasticity to the c,,rrar.,.
system IN his annual reports for several vaa-s
ailu a - hear'iIy IN favor Of changes in the na-
uOiiai currency system TO meet modern condf-
ne mas been stirring up interest in TIL,
SUBJECT In addresses 20 bankers convAn,,ors q,
various parts Of the country. and believes tb,.
80. -ao' eihei' 1or reform has received so much
impetus that Congress must acceds m tha san-
eral demand from large and small bsr1,a-,
Il do not favor the establishment of a cAn,r.,
| oahk' said Mr.. Ridgely. That seems 70 r,,
an Inposslotlity at present. and in that respacs
uiiier 1rom the recommendations made bv the
| corifnlttee OF the Chamber OF Commerce Of New
/ YORK In other respects 7 believe their sueoas-
'iohs are eommendable. and in the main thew
are IN line with what have advocated"
me oasis or legislation proposed by the Cham
'l ol commerce COMMITTEES is likely to be one
OF the principal measures considered ar ths
aSi'llls'oh conference The members Of tbs
| We" iorK currency COMMITTEES have been in
Vited TO confer with the Bankers Assocta+f,,,
currency commission and have promised 10 at
tehd- The chairman OF this COMMITTEES ts .Iohr
Claftn. and the other nen,bars ~. -,
Sahaerlip vce-chairman: Isidor straus 1,,,-,o..
O'aFAe Charles A COnant end Josepb Z, 1obr-
Son secretary. If the proposition 10 establ,sb !,
0en'rdl oank TO control the currency s,s,ar,
biO'eS stumbling block. it is thought probabla
'iid' Sul1clent pressure will be brouah4 ., -
- peIsuade the Chamber of Commerce ran-,-
/ "N@lI'eS 10 abandon that schema and -
Ie' iorees with the currency con1n1issio, a, a.,
N'i''' 10 uratt a plan which will meet with tho
approval OF the administration ,,t ,,..1,
uoiSeo oy the President In his MESSAGE
| The prospects for Congress ,doDrt-r-
doie attitude toward currency legislation ar tlI.
session are considered better than ever bafo-,.
'''oi Spooner an influential member of The
senate Finance Committee. in a conference with
\ tle president. has signihed his Interest in o. ,,,,,
10 oring about reform, and may he counted unor
10 exert his powerful influence in the SENATE =,
oehalr or whatever measure NAV be nronoss5 h,,
the administration In the House. Reprasen+a-
i've Fowler, of New Jersey. the chairman of tbs
committee on Currency. has for a long time baa,
trying 10 secure currency legislation and ba.
Iabored earnestly 70 attract attention n sor,a
or the manifest defects Of the present svstern
1t is believed that In both houses of Congress
a genuine interest in the proposed CURRENCY
legislation has been aroused. as a result of tho
recent general discussion OF the subject Ths
difficulty heretofore In getting the Legislation
through Congress has been the lack Of unitas
movement among the bankers OF the country
themselves II these interests can be brought Il,
agree upon specific reforms the probabnitie
seem 10 be that Congress viii agree 10 what is
asked for. Though the desired legislation nav
not be secured at the short session. because OF
the pressure of other business. the hope Is that
an entering wedge may be made which viii
bring certain results in the Goth Congress.