The Prescott daily news., 1913-07-11
NATIONAL CITIZENS LEAGUE HEAD POINTS OUT ITS
 MERITS AND FAULTS.
CALLS CONTROL ARBITRARY
Missourian Thinks Organization Plan Should Give Bankers Some Voice, as Governments Control
 Is Too Supreme.

Washington, July 1.-The admins tration banking reform bill, which is pending in both houses of congress in tentative form, received the indorse- ment of George A. Mahan, of Hanni- bal. president of the National Citi- zens league of Missouri, who is here attending the meeting of the banking and currency committee of the cham Der of commerce of the United States. From his St. Louis headquarters, from which he just arrived, Mr. Ma han has been directing the campaign in the south and the west for new monetary system. In discussing the bill Mir. Mahan said:
 'In the main the monetary reform bill is, in my opinion, deserving of the jealous support of financiers and busi- ness men. It contains the leading fundamental requirements that a measure of the kind ought to have, and it is so meritorious that our de- partment of the Banking Reform league is prepared to urge its pass age.
 The Wilson administration has dis played patriotism and sincerity of purpose in getting bill for monetary reform in shape at so early date. The administration shows it is keenly alive to the imperative needs of the country, and it aims to provide for these with eXpediency and in accord ance with it's best judgment and ex- perience. Much of the criticism which has been directed against the GlassOwen bill is unfair and unrea- sonable. and it is the result, 1 be- lieve of neglect to study the provi- sions.
 Some Defects in Bill, He Says.
 "There are, of course, few defects in the bill, as might have been ex- pected, and there will be defects in any measure formulated at any time in any country, but they concern mi nor features, and it is a fact that the bill possesses the qualities to obviate panic and give stability to commerce and finance. Convinced of the fair ness of the Wilson administration, and confident that the bill will oper- ate successfully, we will offer support to the president and his colleagues, and will advocate the enactment of the law, with such appointments as from an economic standpoint. are ab- solutely necessary.
 "The bill provides for the retire ment of the government per cent bonds and the substitution of 3 per cents It establishes a discount mar ket. It arranges for the issuance of treasury notes. It will enable banks in all parts of the United States to enjoy the benefits of the discount, re- discount, acceptance and currency fa- cilities, so as quickly to liquify their assets. It is obvious, therefore, that the primary requirements of a com potent, modern banking system are writtenwritten in the bill
 AS a suggestion, submitted in the friendliest spirit, 1 would recommend the modification of the organization plan of the bill. I think the control vested in the government is too su- preme, too arbitrary. There is no objection to government control, but. in my opinion, this control should not be absolute. The banking and com mercial interests should be permitted to act potentially with the United States officials in the federal reserve board.
 Bankers and business men, upon studying the provisions of the bill from practical and unbiased point of view, will find them meritorious and calculated to perform the func- tions desired"