Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-26
THEY WILL co ABROAD
Senator Aidrich on Monetary
Commissioners Plans.
ADJOURN FOR THE SUMNER
Meeting Will Be Held Here in
November.
SUBC0MMITTEES WILL WORK
No General Law Will Be Recon-
mended, But Merely Amendments
as to Bank Administration.

NARRAGANSETT PIER, July 25.-The
national monetary commission. appointed
at the last session of Congress to devise
plans for currency legislation, adjourned
today to meet in Washington Novem-
Der 10.
Two subcommittee appointed. one to
investigate the monetary situation in 9TH
er countries and the second to consider
amendments to the administrative 1ea-
lures of the national banking laws. Will
remain here tomorrow and Monday TO
arrange plans for their work. The
rope August 4.
Senator Nelson w. Aldrich Of Rhode
Island, chairman of the commission, a1teF
adjournment issued a statement as to the
work accomplished and the plans for the
future. This statement follows:
THE commission during its sessions ha
been engaged in the discussion of The
various phases of the important work as
signed by the act Of Congress of May 30
1908. A large portion of the time has
been taken up in considering the plans
for securing information upon winch the
ultimate report to Congress Will be based.
1T is deemed of the utmost importance
that steps be taken to secure thorough
and as nearly as possible exhaustive eX-
animation of the monetary and banking
systems of the leading commercial ma
tions. Preparation for this work was in
trusted to q subcommittee consisting of
Senators Aldrich. Hale. Knox and Daniel
and Representatives Vreeland. Overstreet.
Burton and Padgett. This committee Will
seek to secure from competent and au-
thoritative sources all available historical
and statistical data with reference to cur
rency and banking experience of Great
Britain. Germany and France. 1t will
also make q special examination of the
Scotch, Canadian and Swedish systems
and the changes which have recently
been adopted in Switzerland.
Will Go to Canada.
1T is the intention of the full commits
sion to visit Canada at an early date for
the purpose of making a special examina-
ton into the Canadian system.
I'm the prosecution of its work the
subcommittee will go abroad in the near
future. sailing from New York August 4
on the KronprinZessin Cecilie.
Another subcommittee, consisting of
Senators Allison Burrows Teller. Money
and Bailey. and Representatives Weeks.
Bonynge, Smith, Burgess and Hugo. will
take. up for immediate consideration the
question of necessary amendments to the
administrative features of our national
banking laws. Secretary of the Treasury
COrtelyou was in conference with the
commission In reference to the character
Of these amendments. and the subcommit-
tee last mentioned expects to be able to
report its recommendations at the meet
ing Of the full commission which will be
held in Washington November 10.
Action Harmonious.
1.-The action of the commission with re-
gard to all questions has been harmo-
NOUS and unanimous"
At a meeting today of the subcommittee
on bank administration. Senator Teller
and Representatives Weeks. Bonynge and
Burgess were appointed to attend the
meeting Of the National Bankers Asso-
citation. to be held at Denver in Septem-
Der. This subcommittee will send to all
national banks a letter making specific in
quiries and asking for suggestions relative
to the banking laws of the country. and
the committee will visit large cities and
hold hearings before reporting.
1t was learned today that the full COM
mittee does not anticipate the presenta-
ton Of any general law at the next ses-
sion Of Congress. but expects to propose
certain amendments having to do with
the administrative features of national
banks rather than the currency.