The Birmingham age-herald., 1911-11-21
BANKERS TO INDORSE CURRENCY REFORM
 OF SENATOR ALDRICH
CONTINUED FROM PAGE 5,


 George B. Caldwell of Chicago. If app proved by the council and later ratified by the association this association may form itself at this convention and be given opportunity to act. It is said if the organization is granted membership it would not only be re- stricted to members of the American Bankers association, but also only bond dealers of responsibility and of the high est business Integrity would be invited to join the section.
 Tho convention of the national associa- tion of supervisors of State Banks of which H. N. Zimmerman is president, began it's 10th annual convention this afternoon.
 After roll call and introduction of delegates an address of welcome was made by Charles Janvier of New Orleans which was responded to by Pierre Jay of New York.
 Banquet to Bankers
 Tonight a banquet was rendered the executive council of the American Bank ers association and the association of supervisors by the New Orleans bankers.
 The so called Aldrich plan of currency reform will meet with the almost unani- nous indorsement of the bankers asso- ciation. This is the opinion expressed em- phatically by F. o. Watts president of the association.
 There is urgent necessity. of refornl- Ing the monetary system of the United States" said Mir. Watts. "and the bank CTS are hopeful that Congress will enact remedial legislation at It's approaching session. The national monetary com mission is composed of some of the ablest flnanciers of this country and after long and mot careful consideration of the sit uation in the United States and the study of monetary systems abroad, has devised plan for the reform Of our monetary system which undoubtedly will meet the appreciation of the bankers and business men generally.''
 .a Aldrich Will Speak
 Tomorrow morning former United States Senator Nelson w. Aldrich, chairman of the National monetary commission, in an address before the convention will pre- sent a revised outline of the proposed monetary plan.
 It is expected he will announce certain changes in the plan as it was outlined several months ago to obviate certain crit fcisms by those expressing fears there would be a too great centralization of funds in New York to the possible detri- ment of small banks and certain sections of the countryside.
 Mr. Aldrich is expected to give expres- sion to the views of the commission on the suggestion made at the recent confer- ence of southern governors held in New Orleans that warehouse receipts covering agricultural products such as wheat and corn be included as a basis of emergency note issue by the proposed reserve asso- citation.
 While Mir. Watts is very optimistic in his vieys as to the adoption of resolutions favoring the proposed monetary plan, there will be opposition on the floor of the convention to any favorable action by the association at this time. The op- ponents of the plan will merely fight for time on the ground that nasty action should not be taken in considering a plan which involves such 8 revolutionary change in the monetary system of the United States.
 J. N. Dolly, bank commissioner Of Kan sas, will take an important part in the effort to delay action on the plan until 1912. While of the opinion that the pres ent monetary system of the United States is obsolete, yet he will urge q continuance under the present system until such q time as a perfected plan of reform can be devised" he said