Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-11-07

Senator Aldrich.
CHICAGO. November 6.-After an
elaborate dinner tonight at the Congress
Hotel. United States Senator Nelson w.
Aldrich OF Rhode. Island. chairman Of
the national monetary committee. ex-
planned to the members of the Commercial
Club of Chicago the operations OF the
commission, and referred in a general
way to its purpose.
There were about $50 men at the tables.
among them a number of national re-
nown. including former Senator Teller of
Colorado, a member of the commission;
Senators Dick of Ohio, Owen of Okla
homa. Smoot of Utah and Bourne OF
Oregon; Assistant Secretary c. d. North
of the Treasury Department, Prof. A.
Piatt Andrew. director OF the mint, and
Gov. Herrick of Ohio.
Many bankers and other business men
of prominence were in attendance from
other cities, including st. Louis. New Or
leans and Denver. In addition to the
members of the club, many of ChicagoS
representative citizens were present.
I. The occasion was regarded as of es-
pecial Importance, because II brought out
the first explanation by Mr.. Aldrfch OF
1.-The plans of an organization which has
. been formed for the avowed purpose OF
reforming the financial system of the
SON OF the Commercial Club presided and
senator Aldrich. =
No Enmity to Aldrich.
= II Mr. Aldrich had felt that at tonights
meeting he would encounter evidences
!. that he was in the 'enemy's country" he
must have been treasured, even before
he began his address.
Referring to the personnel of the COM
remarks that the country was to be espe-
cially congratulated upon the character
Of its chairman. "a conscientious, able
and courageous statesman
This characterization was received with
general applause. which was much ex-
[. tended when Mr.. Aldrich. responding to
the Introduction, began his address. His
speech was delivered partly from manu-
script. Notwithstanding he consumed al
most an hour and half Of time. he was
given close attention to the end.
There was scarcely any applause during
the delivery OF the address. At its con-
eiusion there was prolonged hapdclapping.
No Plan offered by Aldrich.
To those of his hearers who expected
Senator Aldrich to use the occasion for
the PRONUNCIATION of tho central bank
project, or any other plan or theory o;
national finance. his speech must have
been In the nature OF a surprise.
He declared at the outset that the
question Of a definite plan for reforming
existing conditions has not yet been taken
up by the commission" He added that
no plan would be adopted until after an
opportunity has been afforded for the
most careful and exhaustive study Of all
the conditions that surround the prob
lem
49, L.
present occasion as an opportunity Ito
make an earnest appeal to you, as the
representative men Of an important sec
ton OF the country, to give to the COM
mission the advantage OF your valuable
counsel and cooperation in securing the
adoption OF a satisfactory remedial plan
one that will surely conserve and pro-
mote the vital interests of all the people
Of this great nation"
Senator Aldrich paid tribute to the
business men OF Chicago. which he de-
scribed as perhaps the most important
financial center OF the country" as hav-
ing by their enterprise, ability and fore
sight contributed Largely to the upbuiid.
ing OF great and prosperous empire He
pledged the best efforts and judgment OF
the monetary commission Ito secure the
adoption OF monetary system, the
wisest and best the world has SEEN"
He called upon them. and through them
upon the business men vi the country, to
feel their own responsibility. individually
and collectively. for the satisfactory out.
come of the work.
Senator Aldrich's Speech.
Senator Aldrich spoke. in part, as fol.
lows:
1T Is my purpose tvziSht to call the
attention OF the bankers and business men
or Chicago 10 some OF the more salien,
features OF the work Of the national
monetary commission. The questions com.
United TO II are so vast, and involve SO
MANY collateral Issues. that my statemen,
must necessarily be fragmentary and in.
complete.
'''rhe Importance Of the task of findinr
legislative remedies for the defects and
weaknesses OF our currency and monetary
systems cannot be overestimated The
industrial and commercial DEVELOPMENT
Of the country. the healthy growth OF its
banking facilities: In fact, the continued
march of national progress and prosper.
ity, which all hope for, will be eithsr
greatly accelerated or retarded by the
wisdom or unwisdom of the action which
may be taken looking TO a solution Of the
problems submitted to the commission.
Perhaps II is proper that I should
say at the outset. in order to relieve
any possible misapprehension, that the
question of a definite plan for reform
ing existing conditions has not yet beer
taken up or considered by the commits
sion. I also desire to say for myself
and for the commission that no plar
will be adopted until after an oppor
unity has been afforded for the mos
careful and exhaustive study OF all tn,
conditions that surround the problem.
Investigation to Precede Plan.
we expect to bc able 10 give to tn,
public within a comparatively short
time the fullest Information with ref
eren,e IN the experience and practica