Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-11-09
CuRRENCYSYSTEM
A|driCh Tells Of Commits
sion's Plans for Reform.
Asks All Sections, Regardless
OF Party, TO Assist
In Formulating Hon.Partisan sys'
In Formulating Hon.Partisan Sys'
tenn for Entire Country.

st. Louis, Nov. S.--With even strong
CT emphasis than he used in his chi
cago speech Senator .\ldrich made it
evident t. the business men Of st.
Louis today and tonight that it is his
purpose t. devote himself for The pres
ent with single mindcdness to the
work Of reforming the currency system
of the United States He spoke briefly
today before a limited gathering OF
bankers at the MONDAY Club and more
longthily tonight before the full mem
bcrship of the Commercial Club.
The day meeting was brought about
ny Il luncheon given by Charles II
iIuttiS. president of the Third Nation
al Bank of this city, While the basis
Of the evening meeting was banquet
by the Commercial Club over which
Hanford Crawford, its president, pre-
sideG. senator Aldrich was received by
both assemhages with manifestations
of sympathetic interest. Senator Al
dr;ch did not use manuscript in his
speech tonight. as he did in Chicago
He spoke Informally.
Il do not come 20 you with any plan
of monetary REFORM he said. Indeed
if l should be delegated today individ-
ually to prepare a statement for Il new
system Of finance for the country J
should be at d lnsS as to how to pro
need. ] should find it necessary to en-,
ter upon Il careful investigation anC
would not undertake to formulate any.
thing without much more study thar
| have been able to give to this sub
ioct. Even in that event | should want
your advice and co operation anc
should ask your aid just as | am ask
ing il now for the commission.
Il realize as L knew all of you do the
absolute necessity of reforming the cur
rcncy, if it is to be reformed upon the
bioadest national lines. The work tina,
is to he done cannot be done by any one
man. nor by any set of men; it cannot
be done by any one party, nor in the
interest of any one section. 1t cannot be
done by commission or by Congress
without the aid of the country at large
Our plan must be one which will take
INTO consideration the wants of the town
and of the country we'll as those of the
city. We cannot afford and shall not at
tempt. to lesislate alone for New York
OF New Orleans or San Francisco. but We
must also legislate for st. Louis, Chicago,
Denver, Louisville, Atlanta, for SPRING
field. Peoria and Little Rock.
Our system must be one which will
satisfy the people of New England the
aSrlculturists of the Mississippi valley,
the miners of the Rocky mountains and
the Pacific coast and the merchants of all
ac1- Iof
one of gigantic proportions: and the re-
suit OF our efforts, good or bad. must de-
pend not alone upon our own wisdom, but
upon the assembled good Judgment of the
leading banking and commercial men of
the entire nation.
1T is because I have come to realize
the great magnitude of this work. and its
lmitless possibilities, beneticent or other
wise. that | come to you at this early
stage in our proceedings to tell you not
only for yourself, but for the commission
insofar as | can, just what we have done.
and to ask your cooperation in our future
"a portion of the commission has
visited the principal capitals of Europe
and some of our members have trav-
eled somewhat through the United
States in their investigations. More
over, we have had published a num-
Der OF monographs dealing with many
phases of the banking question. These
have heen written by gentlemen who
have the confidence of the commission
but who are not members of it, They
have been instructed. however, to
guard these pamphlets from prejudicial
views; and they are intended, not to
shape the thought of the country, but
simply to supply information upon
which views may be based.
From this time forward the COM
mission will give it's attention largely
to conditions in the United States, and
We shall soon begin to call upon men
throughout the country in whose judg-
nent we have confidence to present
heir views for their benefit We espe-
cially desire suggestions from men of
experience. Enough We have
already by way of contribution from
franks and demagogues.
''1'he work upon whichswe are en-
ering is one of the most serious ever
undertaken in the country; and it
must be the result of practical sugges-
ion rather than of theoretical disser-
alton m p. H.. 5,-
The nearest approach that Mr.. AL
lrich made to any indication of n plan