The Washington times., 1910-02-14
Will Advocate Legislation to
Strengthen Fiscal Plan
of Country
MONETARY IDEA
HAS HIS ATTENTION
Senator AIdrich's Ambition Said
to Lie In Satisfactory
Financial Report
By JOHN SNURE.

Tie next big piece o. constructive leg
islatiCn President Taft Is going to give
attention Is that Of overhauIinG the
monetary and banking system Of the
country. he already is giving a great
deal Of thought To this, although he IS
not yet ready 10 come out and advocate
q definite and detailed plan
Moreover the President IS aware that
the time is not yet ripe to crowd fnan-
ciaI legislation He has talked the mat
ter over with some of his callers lately
and made II clear ne is giving a great
deal Of consideration TO the question Of
what ought ID be done TO strengthen
the financial system Of the United
States
Congress Crowded
At present. Congress has on its shout
ders more Executive recommendations
than IL can take care Of this Session.
II may dispose this session Of postal
savings legislation, Of railroad IegisIa-
ton. and Of part OF the conservation
legislation which IS recommended Lit
tie or no hope OF action on national in
corporation is entertained
BUt when the next session opens the
President expects 10 make urgent rec
concentrations for financial legislation
The President IS we'll enough acquainted
with the processes Of Congress TO know
that II viii probably be impossible 10
get fiscal legislation in a short session
OF Congress But he intends To get as
much Of a beginning made In the short
session as possible
1t IS expected that the report OF the
monetary commission. Of which Sena-
tor Aldrich is the head, viii be made 10
the opening Of the next session OF Con
Eress, II it is not ready before that
time What that commission viii rec
Cnmend Is rot Yet certain
tEOOu reason exists 1Or. the belef that
the report Of the commission will be
such that President Taft -a1 support
IT, Senator Al6ricl has been comforting
with the President a great deal about
monetary7- matters The President IS
UNDERSTOOD TO feel that the commission
IL intent in framing the groundwork
for a piece Of legislation that VIII be
Of benefit to the whole country.
To Overhaul Laws.
He hopes to be able TO work along
with the commission in getting the
banking and currency laws Of the coun-
Try overhauIed- He believes the none
Jary commission VIII do its utmost to
bring forth a plan satisfactory to the
banks and 10 the people.
The President IS not committed to a
central bank Whether. he viii come to
advocate one. il is too early 10 say
The President Is said TO feel that If
JIeTe is a central hank IL win be located
ia WaSninzJons and n wiz have 10 be a
hank in which all the national banks
" III have an interest. and which viii be
free from all suspicion Of Wall Street
control He thinks the monetary com
mission X working along the same line
IS he IS thinking with respect to this
The President IS said 10 be impressed
with the earnesJueSs Of Senator AID
rich in trying to work out a monetary
plan It is the fashion in Congress to
condemn any plan which Alurich may
bring forth as savoriuE Of Wall Street
But IN other quarters ir IS said TO be
the ambition Of AIdTicn TO leave new
monetary legislation as a monument 10
himself