The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-25
Congress Urged to Deal
With Proposition as
Economic Question.
EXISTING DEFECTS
WILL BE RELIEVED
With Further Development il,
Some of Its Details Scheme
Can Be Made Entirely Prac-
ticable-National Associa-
ton Selects Detroit as
Next Meeting Place.

New Orleans. La. November 2i-
With but one dissenting vote. the
American Bankers Association to-day
gave It's unqualified approval to the
proposed Aldrich plan for the reform
OF the monetary system OF the United
states.
Congress was urged to deal witt, the
proposition as an economic question,
outside the domain OF party politics.
After the election OF officers tnc con
sention came to a close.
Detroit was chosen unanimously on
the hrat ballot as the convention city
IN 1917. Boston, Atlantic CITY, Chicago
land Jacksonville, Fla, gave NOTICE
mat they would ask for the conven-
uon In 1913.
Vice President William Livingston,
OF Detroit. was elected president ana
7. T. Huttig. of st. LOUIS. vIce-pres,.
uent- Inc convention then adjourned
Inc report of the currency commas
sion. prepared by James B. Forgan. OF
Chicago, In part. follows:
VIII Correct Defects.
Your currency commission unani-
ioas!! agreed that tho plan suggested
by Senator Aldrich is founded on COR
reef principles. will correct existing
uetects In our national banking svs
TEN. and that with further deyelou-
ments In some of It's details It can be
MADE thoroughly practicable.
Later our report was published in
pamphlet form and circulated among
the members Of this association. Our
recommendations have since been very
generally adopted In a revision OF tbe
pan recently published By Senator
Aldricb.
AS q result OF the work we tins
initiated, followed up blythe individual
EFFORTS OF members Of tho committee
and Of Mr.. .Farnsworth, your general
secretary, out OF forty-six State Bank
ers Associations. twenty-ninc have
passed resolutions at their annual con-
ventions indorsing Senator AIdrich,s
plan as revised by u.s."
fhe report was unanimously adopted
ana the currency commission was an
tnorlzed to continue to represent The
association before the National None
tary Commission and consrcssIona
committees -
Tne executive council to- might elect
ca inc following officers: Chairman of
.ne executive Council, Arthur Rey-
iiolos. Des Moincs. Ia: Treasurer of the
Association. J. Fletcher Farrell Chi
eago: Secretary. Colonel Fred e. Farms
worth. New York; Assistant Secretary.
Nl!ildih q. Fitzwilson, New York: Cen
erai Counsel. Thomas g. Patton. New
ork Manager Protective Department.
l. w. cannon. New York.
Report In Referred.
,,e NJ ar long drawn out debate the
ineinoers OF the American Bankers AS
sociatl ton referred to-day the report
OF the bills lading committee back to
inc committee for further consider.
tl The report as read approved
me central bureau plan for the vaIida
ton Of cotton bills OF iading. known
as Inc Liverpool plan, which Southern
bankers, cotton men and exchanges in
convention here recently condemned.
n,i ne convention instructed the com
Wexler. OF this city. chairman Of the
oilis lading committee OF the New
orleans Cotton Exchange. ofrered in
tteu OF the report. The motion also
member OF the bills lading committee
In addition to another Southern hank
CT to be selected later. -
Mr.. Wexler, In reviewing the entire
question, stated that the bureau plan
cotton exchanges of Houston, Mem
phls,t Savannah, Vicksburg. Austin and
other organizations. giving mo reason
.nat ~ singled out cotton from the
and that 1t cast a stigma upon the
honest cotton dealers OIL u largo Soc
tion OF the country.
What we are mostly concerned In"
he said. Els making the raiIraads re :
sponsibie for the acts of their agents.
The central bureauNis supported large
ly by the railroads Hhy2 Because
they have read the handwriting on
tho wall, and they know II tins bureau
responsible for the acts of their
agents.