New-York tribune., 1911-01-20
DAWSON ON ALDR|CH PLAN
wouId Move Money Now Idle in
Rank Vaults, Says Banker.
FITTED TO ALL CONDITIONS
Thinks Proposal Affords Good
Basis for Solution Of
Currency Problems.

.,..r street. Gnsrciers see hopes FOR def
,,@sraflnn for currency reform, now
-,~s-or AIGrich has made his plan
p. IS probable that there will be
conference Of bankers in the near
..,-s N discuss the plan and suggest
IN the details, though the general
meets with widespread approval.
@ Dawson. Of ]. p. Morgan & Co,
ri. .r.1usiaSuCslly OF the Aldrich plan
Yesterday. IL, 49,.
.or,r'fssiou FOR nearly two years
,.-, Incoming a member Of the Morgan
-gr vas vice-president OF the First
.,.., Bank when the commission was
tr.ss Ir IefS and Senator Aldrich
- him Io advise with the commission
.,gs part IN It's Investigations. He
,,-osd and made a study Of tho
80. svs.a-,e ~ England. Germany and
.--., and In that way came 70 know
-. ,barr the work or the commission
NJ ,,v other New York banker. He said
=, ,.,.sre that Senator Adrich's plan IS
,--.-,,rv effective and simple. In the
'.t-g NJ the bin there may be various
,..,rs ~ work out. but the essential thing
..., the proposal as made is well fitted
I'm conditions and 20 all sections Of the
- states II possesses the advantages
-. --.a+ central banks OF Europe and
..-..-stss sH t1e disadvantages, especially
49,, ,tar would prove burdensome IN this
-. because Of the peculiar conditions
syfsrrE here.
,.-.. commission has had these peculiar
-.-4i,,o-s in mind from the start, and
,-r,r o, rs work has been IN considering
,.. ,rpr.at0r Of the great foreign bank
- s-s-s~g rr country such as ours.
-. -rsr f= certainly representative and
-. s-r.arrs Each institution in the
--.,s states would have fair representa-
..- and arnor-rnity 20 avat. Itself OF the
-s---,,-es NJ the reserve association. IN
'......o-5 rIarr. the association is so safe
..s.5 as r9 He free from control by any
- interest. and the supervising off,
.-s viii, not 30 subject 10 political iniu-
tr,es
.sr-o --o-o-ed association renders all the
..-..-c tina, would under any oircum-
.,.r.ss -e rendered oy the clearing houses,
cling IL possible for bank promptly 70
rs.zs upon '- assets
s,-ot1r~ ar-ar advantage concerns ih"
....,-,,rrs. a- commercial paper This
,-,.r5 1-,rs Us iu line with che great for
,.-- systems and is fundamental for our
,.-,rsrre ard industry. The restrictions
t,rne Ad-ien plan are such as 70 insure
,..,,ss~s-.ra use o. such facilities. Theu,
80 .5s al.aaages would DE common 10
M ..-,iar. and no one centre or section
v.r5 enjoy the slightest benefit that any
,,,sr centre or section could not also en-
..r ~ the same time
-sr-r a plan as Senator Aldri'h has OUT
r-.s world -fve mobility 20 some thirteen
a-fu-r.ar hundred million dollars no" N'
-g Idle Ir bank vaults The plan Tor as
.r-r r-. note issues Of the national
t,-.s ts one which cannot fail to appeal
nar national bank officers. as 81 relieves
rsm n. material burdens and furnishes
!. 7u~u needed elasticity.
IN cannot rarr feeling that frS" and non
s,-.u--... o.. rr. whole proposal VIII
.s,-. bash. for the solution OF cur credit
IND currency problems. t1o need Of winch
anna, Io .or -.ronzIy emphasized al this
tine