The Montgomery advertiser., 1909-12-13
IMPORTATION OF UNIQUE VALUE
Statement of Issued Outlining Scope
 of Publications.
After Making Four of European Coun- tries, Senator AIarich and His E Asseciate. Propose to rroat
 By study In Revision
 rsf system.

Washington, Dec. 1z.-lnfofmation Of unique value to the financial world and. to all students of economies. re- garding the monetary and banking systems of all the civilized nations. in- ,clud.ng the United States, will be made available during the coming year through a score or. more of volumes fprepared by the leading authorities in America, England, and Europe. and to tbe published under the auspices of the National Monetary Commission. It will ,ccnstitute a library of banking with but parallel in the literature of any country, and will supply what Is at ipresent practically an absolute lack Of Information in the English language regarding the development during re- lcent years of the financial systems of the world.
 t. The Monetary Commission issued here tonight a statement outlining the scope Iof the forthcoming publications and the Exhaustive investigation which result led in the compilation of the material. The Commission urges all bankers. business men, and students of finance ito avail themselves of the opportunity thus offered to study the conditions and experiences of other countries as Iweli as of oufsown. From this state Iment 1t appearss that the Commission
 
 banking and currency systems of the leading countries of the world. and Ia list has recently appeared of the pub 'lieations which the Commission now has in press or Is preparing for the Epress and which will be available for the public in the near future.
 In the summer of 1908, when Senator Aldrich and klie Commission set about the task intrusted to them of inform ing themselves as to the best means for modifying our banking and credit system, they were surprised to discov- CT the lack of literature dealing with the modern, development of banking and the recent changes made in many foreign hanking systems. With regard to banking in France and Germany and other European countries, there was scarcely. anything in English which dealt with the practical operations and relations of the banks or which dis- sussed anything more than the history of banking legislation. Even in the ecase of England no work of import snce dealing with the English banking system had appeared for more than a Keneratlon, and the whole modern use of credit instruments and the evolu- ltion of check and deposit banking,
 which have so changed the character of the system from what 1t was In the middle of the nineteenth century
 remained undiscussed. The only con
 siderable work upon the English sys- tenn which had been published in more than thirty years was by Greek pro- lessor and written fin French. (This work of Andreades has subsequently been translated into Engllsh.)
 No History of Banking.
 !. With regayd to banking in the Unit ed States, no coherent and compre- heHsive history had been written which covered more than cursorily the signifi- cant developments in banking during the half century since the civil war. If the banking problems confronting the United States today were to be stud fed in the light of the worlds exper- fences and with any satisfactory knowl- edge of existing conditions in the United States, 1t was necessary to en- ter upon series of investigations much more thorough and far-reaching than had ever been made before and to postpone any attempt to formulate a plan for recognizing the system un- til this investigation had been com pleted.
 The Commission has sought to secure the facts concerning the existing sys- .tems of banking and currency in the leading commercial nations of the world. It has secured comprehensive information from England, Germany. 2 and Japan, and has in addition secured considerable material with regard to banking in Mexico. Russia. Austria Hungary. and Holland. The list of 1 publications which has recently been given to the public conveys an impress , sive picture of the substantial way in ! which this effort has been carried out 7 and of the encyclopedia scope of the Commissions investigations.
 One of the early volumes to be pub ; lished and one which will contain ma terial of the greatest practical inter- est Is a volume of interviews held by !. representatives of the Commission in the leading countries of Europe during ! the summers of 1908 and 1909. These interviews with the managers or direc- [ tors of most of the large banks in s England, France. Germany. Switzer- ! land. Italy, and Scotland were steno- 1 graphically reported and constitute a { volume of more than 800 pages. cover /. ing not so much the banking legisla- | tion of these countries, which had of- . ten been treated before. but the actual | practices and customs governing the