The Cairo bulletin., 1909-11-09
DISCUSSING REFORMING NONE
TARY SYSTEM AGAIN, WITH
MORE EMPHASIS.
APPROVAL is EXPRESSED
Speech-Senatcr Declares Task
Is of Greatest import
a1ce.


even stronger than he used In Ch'ca.
go speech, Senator Aid. ich made it
evident to the business men Of 81.
Louis tonight that 1t is his purpose
to devote himself for the present with
especial single mindedness to the
work Of reforming the monetary sy4-
tenn, lie spoke briefly todag BEIGE
the bankers at the Monday Club afti
more extendely tonight at banqu,t
OF the Commercial Club. That the
business men Of st. Louis are pre-
pared to consider the currency re-
form with open minds was testified
to by many present at both meetings.
Aldrich used no manuscript tonight.
There was no effort at oratory or en-
hellishment
Il come with no plan Of monetary
reform he said "If / were delegated
today to prepare new system Of
finance for this country. would be
at loss how to proceed and would
not undertake to formulate anything
without much more study than have
been able to give the subject. Even In
that event | should want your advice
and cooperation, and ask your all
just as | am now asking 1t for the
commission.
Our work cannot be done by any
one man or set Of men: 1t cannot be
be done by any one party; nor In the
interest of any one section. 1t cannot
be done BY the commission or by
congress without the aid Of the coua-
try,
Our plan must consider the wants
Of the country as we'll as the city.
We cannot afford to and shall not at
tempt to leslslate alone for New
York, New Orleans or San Francisco;
We must also legIsiate nor St IOufs,
Chicago, Louisville, Springfield and
Peoria
Our system must satisfy the people
Of New England. the Mississippi Val
ley, Rocky Mountains and Pacific
coast The results must depend not
alone upon our wisdom, but upon the
assembled good Judgment of the
leading banking and commercial men
of the entire nation. The commissions
ers will soon begin to call on the men
throughout the country to present
their views. We especially desire
suggestions from men OF practical ex
perience. Enough we have already
by way of contributions from cranks
land demagogues. Our work Is ono
Of the most resious ever undertaken
In this country; 1t must results I'll
practical suggestion rather than the
Ioretical dissertation"
On the subject of bank issues Aid.
rich again mentioned the fact that
1.-THE European countries maintain
central banks for the issrrncc Of
bank paper. He stated, however, that
| 1t was not to be expected that any
European banking system could he
Itransplanted in its entirety to this
lcountry. Whatever system Is adopted,
The said, must look to q gradual
change and have due regard to vested
iterests and sectional usage.
| The senator expressed the decided
opinion that with proper safeguards
the country need not again suffer Q
general panic like that Of 1907. preeip
itated with so little reason in business
eonditions.
He Is confident that with a suftt
lciently elastic and sufficiently rela
tive credit system, such conditions as
arose previous to that disaster could
be averted, or so restricted as to cs
feet only a few pHngers and their
: immediate associates. AT the con
clusion Of the speech there was a
general manifestation Of approval.
| HERRlN ALDERMAN SUICIDES.
flerrin Ill.,, Nov. S.-The body ei