Los Angeles herald., 1909-09-15
tBy Associated Press.l

n OSTON, Sept. 14.-President Taft
X in addressing banquet of the
~ Boston chamber of commerce to-
night, said he was going to take his
western trip because he believed 1t
would enable him to be a much more
efficient president and make him bet
ter acquainted with the needs OF that
great section.
He also outlined some Of the matters
to be submitted to the next congress.
81 am on the ave of beginning
Journey of 5000 miles in length" said
Mr.. Taft, (which will enable me to see
tens and hundreds of thousands OF my
fellow citizens, and enable them' l
hope to see me. Occasionally | near
a query, why / should start off on
trip such as this and what particular
good does it do to anybody
well, it certainly is not going 10
be a pleasure trip, although | shall
enjoy it. 1t will involve much hard
work and great deal of mental ettort
to think of things to say and say them
simply and clearly, so they can be un-
derstood. III,
"On the other hand, it certainly will
pive me a very much more accurate
impression as to the views of the peo-
ple in the sections which l visit. 1t
will bring closely to me the needs of
particular sections, so far as national
legislation is concerned, and | belleVe
It will make me a wiser man and
better public officer.
To Explain Difficulties Of Rule
'I ought to be able to explain to the
people some of the difficulties of gov
ernment and some of the problems Tor
solution from the standpoint OF execu-
tive and the legislator, as distinguished
from that of the honest but irrespon-
sibIe critics The personal touch be-
tween the people and the men to whom
they temporarily delegate power OF
course conduces to better under-
standing between them.
"Our chairman has made some ref
erence to the number of subjects to
which the attention OF congress may
well be directed In the first pl ce,
there is the monetary situation. While
II is probable that the Vree'a and bill
would aid us in case of another finan-
cial crash. it is certain that our bank
ing and monetary system is a patched
UP affair which satisfies nobody. And
least of all those who are clear-headed
and have knowledge Of what financial
system should be.
"The matter has been referred by
congress to a monetary commission
which has been studying the financial
and banking systems of the great gov
ernments of Europe and has embodied
and will publish in interesting and at
tractive form the best accounts Of the
financial systems of the world.
Discusses Monetary System
at is quite apparent from the state
ments of Mr. Vreeland, now the head
Of the committee on banking and cur-
rency in the house. and from the CON
versation of Mr. Aldrich, chairman of
the monetary commission and of the
finance committee of the senate, that
the idea of the monetary commission is
for some sort Of arrangement for CEN
trail bank of issue which shall control
the reserve and exercise a power to
meet and control the casual ringen y
which from time to time will ccme in
the circulating medium of the country
and the world.
''NIr Aldrich states there are two
indispensable requirements in any plan
involving a central bank of issue. The
one Is that the control Of the monetary
system shall be kept free from Wall
street influences, and the other that it
shall not be manipulated for political
purposes. These are two principles to
which we can all subscribe. 1t is quite
possible that the report of a definite
decision may be delayed beyond the
next congress
"Meantime the members of the COM
mission intend to institute a campaign
of education to arouse public opinion to
the necessity of change in our none
tary and banking system 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.
1.-The hum of prosperity and the &C.
stasy of great profits are likely to dull
interest in these reforms and to lead
Continued Page Two