Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-04-09
UNIFORMITY IN BANKING
OBJECT IN VIEW BY NATIONAL
MONETARY COMMISSION.
Bringing American System Into Line
With Worlds Custom-Address
by A. P. Andrew.

AIKEN. s. c., April Elm order 70
bring the American banking system into
line with the drift of the world, greater
nexibility and greater mobility In the
banking reserves of the country is neaded.
as we'll as greater concentration In note
issue privileges and greater conference and
system In the general control Of the eoun-
try's banking. This was the declaration
made today by A. Plat Andrew, director
or the mint. in an address before the
South Carolina Bankers Association on
the work Of the national monetary com
mission.
The commission has not yet begun 70
discuss even the general outlines of the
recommendations which ultimately il will
have to make to Congress, according to
Mr. Andrew. No one today, he added.
knows what that plan will be. He ex-
pressed his belief, however, that the ma
terial gathered by the commission. which
will be available within the next few
months, Will constitute IAN encyclopedia
OF banking without lis equal in the ltera-
ture OF any other country.
Comparison of Systems.
After drawing comparison OF the
banking systems of some Of the Euro
pean countries with that of America, Mr.
Andrew declared he entertained 10 iliu-
SION that the same ends could be ac-
complished I'm this country by exactly
the same means as in any other country.
1T was on account OF the striking con
trast between experiences here i'm Amer
lea with conditions abroad said Mr.
Andrew, that the national monetary
commission, in undertaking its investiga-
ton OF possible means for improving the
credit arrangements of this country be-
gan by examining the banking institu-
tons. customs and regulations of the
leading countries of Europe.
Mr.. Andrew declared that lin none OF
the leading countries OF Europe during
the past 100 years. except TN periods
war and revolution. has there been any
such geneISl collapse of credit and gen.
eral suspension of the banks as occurred
here only two years ago"
DO not mean to imply he continued
that there has not been in these coun-
tries an unceasing alienation OF trade
activity and trade relaxation. Nor DO /
mean to imply that there have not been
great failures of banks and busin firms
or all sorts. But upon all these occasions
there has been leadership and the situa-
ton has been kept firmly in hand.
American Banking Methods.
Comparing the banking system OF this
country with those abroad Mr.. Andrew
said:
rendered less available in necessitous
times than are the banking reserves OF
other countries. because OF the rigid re-
qutrement under our laws of fixed pro-
portion of cash, but our reserves are far
less available than are the reserves in
other countries because they are scat
tered al over the country among our D.
600 different banking institutions.
The institutions which in other cuun-
troies are charged with the responsibility
OF handling the greater part of the bal
ances Of the banks he added. ARE not
managed primarily for the private profit
Of their stockholders, are not operated
primarily to earn dividends, but are con-
Quoted with more less ADM ted re-
sponsibility for the maintenance OF the
common credit Of the country.
Another respect in which the drift of
the worlds banking is in a different C.
rect!on from that of this country
Germs the matter of note issue. The
tendency Of note issue regulation in ev-rS
other country is manifestly toward tneir
concentration in single institution.