The Montgomery advertiser., 1909-09-15
TAFT LAUDS ALDRICH
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any effort by whomsoever made to ar
ray section against section and Amer.
leans against Americana
Practically the entire assembly
| cheered the speaker and many leaped
| to their feet in their endorsement Of
the Presidents remarks, the applause
having echoes by the galleries.
The President was cheered loudly at
the close of his address. Under escort
of the Repetition Committee and the
National Lancers. he passed through
the dining room to the street and pro.
ceeded to the Hotel Tourafn. where he
spent the night. He will leave on his
Western tour at 1880 o'clock tomor-
row forenoon.
Mayor Hibbard, who was unable to
be present, sent a letter welcoming the
President to Boston.
Congratulates Business Men.
! Mr.. Taft began by congratulating
| Boston on p union in one organiza-
tioh of all her business men.
1T assures q concentration OF infiu-
enca which make for good" he COM
mented. Mr.. Taft said he was CRATE
full for the hospitable reception which
OF Massachusetts, during his vacation
and then had this to say Of his West
ern trip:
| II 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,
casionaliy / hear the query why I
should start on such q trip, and what
particular good does it do to anybody?
1t will certainly give me very much
more accurate impression as to the
views Of the people In the sections
which visit. It will bring closely To
me the needs of particular sections. so
far as national legislation and execu-
tive action are concerned; ana he
lieve 1t will make me a wiser man
and a better public officer. ! ought to
be able to explain to the people some
of the difficulties OF government and
some OF the problems for solution
from the standpoint of the executive
and the legislator distinguished from
that OF the honest, but irresponsible
!. critic. The personal touch between
1 the people and to the men whom they
temporarily delegate power. of course.
conduces to a better understanding
between them.
| Discusses Monetary System.
your chairman has made some ref
erence to a number OF subjects, TO
which the attention of Congress may
we'll be directed. In the first place,
there Is the monetary situation. While
1t is probable that the Vreeland btu
passed by the last Congress would aid
US In case of another financial crash. 1t
IL certain that our banking and none
| tary system Is a patched up AFFAIR.
which satisfies nobody and least OF
all, those who are clearheaded and
have knowledge of what financial
system should be. The matter has
been referred by Congress to none
tary committee, which has been study
ing with much interest and enthusiasm
the financial and banking systems of
the great governments OF Europe and
has embodied and Will soon publish
in interesting and attractive form the
best accounts OF the financial systems
OF the world. 1t Is quite apparent from
the statements OF Mr.. Vreeland, who
Is now the head of the committee on
banking and currency in the House OF
Representatives and from the CONVEX
stations OF Mr.. Aldrich, who is the
chairman OF the monetary committee
and the finance committee OF the Sem
ate that the trend OF the monetary
committee is toward some sort Of ar
rangement for SOME sort OF bank or
issue which shall control the reserve
and exercise a power to meet and con-
trol tns casual stringency which from
time to time will come In the circu-
lating medium of the country and the
world. Mr.. Aldrich states that there
are two indispensable requirements in
any plan to be adopted involving
central hank Of Issue. The one ~
that control OF the monetary system
shall be kept free from Wall Street
Influence and the other that 1t shall
not be manipulated for political pur-
txutn Nrtn atnla n
which we can all subscribe.
May Delay Report.
1T Is quite possible that the report
of the committee of a definite conclu-
sion may be delayed beyond the next
session of Congress. Meantime the
members of the committee intend to
institute a campaign of education in
order to arouse public opinion to the
necessity of q change in our none
tary and banking systems and to the
advantages that will arise from plac-
ing some form of control over the
money market and the reserve in the
hands of an Intelligent body of finan-
ciers responsible to the government. /
am told that Mr.. Aldrich will Swing
round the circle In the present fall and
will lecture in many of the cities OF
the Middle West on the defects and
needs Of our monetary system. l can
not too strongly approve of this pro-
posal Mr.. Aldrich. who is the leader
If the Senate, has been regarded with
deep suspicion by many people. espe-
cially in the West. II. with his clear
cut Ideas and simple. but effective style
of speaking, he makes apparent to the
Western people what / believe to be
his earnest beside to aid the people and
to crown his political career by the
preparation and passing OF bill
which will give us a sound and safe
monetary and banking system, 1t would
be a long step toward removing the
political obstacles to proper solution
of the question.
81 am not going to discuss the
merits and dement's of the new tar
IN bill with you. Sufice 1t to say that
passing It has removed a disturbing