The Oskaloosa herald., 1909-09-16
PRESIDENT SCORES
MONETARY SYSTEM.
Calls Nations Banking Law
Patched Up Affair.
TALKS OF ALDRIcH's PLAN
Says a Central Bank Issue Is Idea of
Comr,isslon--TaIks Of His
Long Trip at Boston
Banquet.

boston, sept. l0.-TTeSluent AT
left this morning for Chicago, the first
stop on his long trip.
Last night the president spoke at a
banquet given to celebrate the merg-
ing of Boston's three leading CONNER
cial bodies, the Merchants association,
the Associated Board of Trade and
the Chamber of Commerce into one or.
ganization, the largest of its charac-
ter in the country, its membership
numbering 5000 More than 1000 per-
sons heard the speech, which was the
first the president has delivered since
congress adjourned.
Mr.. Taft began by congratulating
Boston on a union in one organization
of all her business men. ut insures
a concentration of influence that must
make for good" he commented
Talks Of Coming Trip.
Mr.. Taft said he was grateful for the
hospitable reception which he had re-
ceived on the north shore of Massa-
chusetts during his vacation and then
had this to say of his western trip:
Il am on the eve of beginning
journey of $4,000 miles in length,
which will enable me to see tens and
hundreds of thousands of my fellow
citizens, and enable them, / hope, to
see me. Occasionally | hear query,
why / should start off on such a trip,
and what particular good does it do
to anybody Well. it certainly is not
going to be a pleasure trip, although
shall enjoy 1t.
Your chairman has made reference
to a number of subjects to which the
attention of congress may well be d.
rected. In the first place, there is the
monetary situation. While it is prob
able that the Vreeland bill, passed by
the last congress, would aid us in
case of another financial crash, it is
certain that our banking and none
tary system is patched up affair |
which satisfies nobody, and least of |
all those who are clear-headed and |
have a knowledge of what financial |
system should be.
Monetary Commissions Plans.
THE matter has been referred by
congress to monetary commission,
which has been studying with much |
interest and enthusiasm the financial |
and banking systems of the great gov |
ernments of Europe, and has embod-
led and will soon publish in interest |
ing and attractive form the best &C.
&c of I'm niol 8
the world.
1T is quite apparent from the state
ments of Mr. Vreeland, who is now
the head of the committee on banking
and currency in the house of represen-
tatives, and from the conversations of
Mr.. Aldrich, who is the chairman of
the monetary commission and of the
finance committee of the senate. that |
the trend of minds of the monetary
is toward some sort of
for a central bank of
issue which shall control the reserve
and exercise power to meet and con-
troll the casual stringency which from
time to time viii come in the circulat.
ing medium Of the country and the
world.
President Praises Aiar;ch.
"Mr. Aldrich, who is the leader of
the senate, and certainly one of the
ablest statesmen in financial matters
IN either house, has been regarded
With deep suspicion by many people,
in the west. If. with his
,lesr-cut ideas and simple, but effec-
i've style of speaking, he makes appar-
snt to the western people what | be-
ieve to be his earnest desire to aid
he people and to crown his political
,areer by the preparation and passage
If bill which shall give us a sound
md safe monetary and banking sys-
.em, it would be a long step toward
'emoving the political obstacles to a
solution of the question.
Il am not going to discuss the mer.
is and dement's of the new tariff bill
With you. shall have often to refer
o that before my journey is ended,
md must save something for other
audiences. Suffice 1t to say that the
passage of the bill has removed a dis.
-