The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-03-25
ALDRICH SUPPORTS
CURRENCY REFORM
Agrees With Beverage That
Commission Should Be
Named.
Ultimate Aim Thought to
Be Establishing Cen
trail Bank.

Senator Aldrtch caused a sensation at
a most unexpected place. when he an
hounced in the Senate that after the
disposition of the Aldrich currency bill
he hoped, before the close of the present
session Of Congress, that there would be
passed legislation providing for a cur
rency commission TO study the prob
sems Of currency in this country and
report on them. with a view to future
legislation.
The announcement was drawn from
the Rhode Island Senator. who is ac-
cepted as the arbiter OF Senatorial opin-
ion OF money matters, by a suggestion
from Senator Beverage. Mr.. Bever-
idge minated the opinion that. as the
discussion OF the Aldrich bill has de-
veloped a general belief that there Is
need Of general and systematic currency
reform, and as the pending bill. Of
course. does not look TO that end, il
might be a good idea TO provide for a
commission to consider the whole sub
Ject in its broadcast aspects.
The suggestion was not taken as .espe-
cially important until Senator Aldrich,
following Mr.. Beverage, said lie Joined
in the view. and hoped that before the
should be made. Senator Teller declared
that for himself he didn't care much
about commissions, he thought when
the Senate got ready 10 handle the cur
rency question in detail il should do so
without the aid of a commission.
Creates Surprise.
But the important thing about the
suggestion was. that il received the
Aldrich Endorsement. Nobody seems 10
have suspected that the Rhode Island
man had any such idea in his mind.
Creation OF such a commission would
assure at once that for the next long
session OF Congress there would be pro-
vided, far in advance. a problem amplv
big and serious and complicated 10 oc-
cupy its time. If the tariff should Se
revised at a special session immediately
after the next election, the currency
commissions report and any Iegisia-
ton based thereupon would have the
right of way at the first long session OF
the new Administration.
Indeed, one view taken of the Aldrich
pronouncement is that certain powerful
interests in the cOuntry's business af-
fairs may be anxious 10 promote the
currency agitation as a means 10 filing
IN the gap with something less EN-
barrassing than consideration of the
trust question ia its various aspects.
The EFFORT 10 create . scientific cur
rency system for the country would
cause long and animated debate in
Congress There is no doubt that the
discussion this winter has strsngt hened
greatly the sentiment in favor of a svs-
tenn based on the idea of a central bank
OF issue which should be a Government
Or Quasi-Governmeut institution.
Plan Is Favored.
Letters which public men have re-
ceived from all parts of the country,
and IN great numbers, indicate this.
Nobody believes that The sentiment has
as yet nearly developed TO the point
where either party would dare assume
the responsibility for fathering such a
measure; but that the time viii come.
before the end of another decade, when
the central bank question viii be DrOmi-
nently before the country. is widely be-
lieved
II is noted as Of especial interest that
among the letters written on the cues
Jion there are about as many favorable
10 the central bank from the Middle
West and Far West as from the East.
A few years ago this would have been
impossible, the West being decidedly
opposed TO the suggestion of a central
bank.