New-York tribune., 1910-11-12
ALDR|CH DISCUSSES
MONETARY REFORM
Political Science Diners Detect
Leaning to the Central
Bank Plan.
NO ROOM FOR PARTISANSHIP
Senator Declares Solution of
Question Must Be Reached
Without Any Thought
of Politics.

Senator Nelson w Aldrich, chairman
was the principal speaker at the thirtieth
anniversary dinner of the Academy of
Political Science last night at the Hotel
Astor.
He told his hearers that the question
OF reforming the monetary system was
| being carefully studied by the commits
sion, but he did not give any idea of the
nature of the remedy which that body
would suggest. Those who heard his ad-
dress before the same body last April
were of the opinion. however, that his
utterance last night showed a tendency
| to come around to the idea of central
bank.
Nearly seven hundred guests sat down
TO the dinner, and among them were
some of the leading fnanciers and STU
dents of economy in the country. The
Academy Of Political Science is almost
unique in the sense that II admits women
TO full participation in its activities in
the same measure as IT does men.
No less than three former Governors
were among those at the dinner. They
Connecticut, Ex-Governor A. 3. White
Of West Virginia and Ex-Governor Myron
T. Herrick OF Ohio. There were also
delegates appointed by the Governor of
practically every state east OF the Rocky
Mountains, besides representatives Of
commercial bodies from all parts OF the
country.
Hepburn Introduces Aidrich.
A. Barton Hepburn, president OF the
Chase National Bank, who. in addition
to being president OF the New York
Chamber of Commerce, is president also
Of the Academy Of Political Science. was
chairman of the gathering.
Introducing Senator Aldrich. Mr.. Hep
burn recalled the services rendered TO the
financial institutions of the United States
by the Aldrich- -Vreeland act though he
declared that this was only an emer-
gency measure, and he fully recognized
it's shortcomings. He added that, he near
w had heart failure when the retirement
of Senator Aldrich from the Senate was
announced, but he hoped that Providence
and the Legislature which met in Provl-
dence might remedy that even yet
Senator Aldrich said that the first
phase of the work of the Monetary Com
mission, the inquiry into the experience
OF foreign countries. was completed.
The result. he said, was contained in the
series Of monographs which had been
published from time TO time. These.
with two or three others. he believed,
will present to students and TO the peo-
pie at large better history of what has
beer accomplished than anything else
that could have been done.
On More Important Phase.
They had now begun an even more i'm
portant phase, he added. with view of
making a report TO Congress of some
plan for approval at the earliest possible
moment They intended, he said, to be
unceasing in their labors, and If they
took more time than some of his hearers
thought they should take he was sure
that the public would be lenient. in con-
sderation of the magnitude of the task
TO be accomplished.
What we now purpose to DO" he con-
the calm Judgment of economists. stu
dents men of affairs, bankers and busi-
ness men. We shall appeal to the
thoughtful men of this country, like
those that you met to-day, to the COM
mission Of the American Bankers Asso-
citation and the representatives of the
Merchants Association of New York.
and 10 other representatives throughout
the country. asking them. as believe we
have a right to do, for their cooperation
and support in some reasonable solution
NJ this vast question
You may ask why we have not com
menced this work before. / will say
that the work of obtaining literature was
not completed, but l have another rea-
son for not having called the commits
sion for the last two or three months.
did not think IL was wise TO enter upon
a discussion of this question in the midst
of a heated political campaign.
Not Political Affair.
IF any solution of this question is to
- reached at all, ii must he reached
,,,,bo,,t single tinge Of political mar
steamship. IL is not and must not be in
.,v sense a political question IT is a
,,,,s,ness question. affecting the material
interests of the entire people OF the
Cntinsed on third page.