Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-03
The Senate Should Carefully
Consider Mr.. Vanderlip's Pro-
gressive and Practical
Currency Plan

The Senate should make hasty decision the
the Currency bill.
There two distinct plans before Congress- nvo
ing system of regional banks and the other
central bank with branches. If embark the
change the other without difficulty and disturbance
is important to select the right plan.
Agood deal be said in favor of the Administration plan
for regional banks the plan bank
advanced by Mr.. Frank A. VANDERBILT not to be dismissed
unworthy of serious consideration The fact that advanced
at this moment by leading nancer with large Wall Street in
eess should not prejudice the Senate against the really
valuable points of this plan 1t not originated by Mr. Van
derlp The idea of central Government bank has
pressed by the radical thought of this country many years
back we find the Popust party-founded on
the powerful Changers and Farmers Alance-ropng at
idea in their Omaha platform But clearly emphatcay
find expressed in the first national platform the Indepen
dence party then representing
tories adopted at Chicago in 1908 and reading
The Independence party declares that the right
money is inherent in the Government, AND IT FAvORs
THE ESTABLISHMENT OF A CENTRAL GOVERNMENT
BANK through which money issued shall put into
general circulation"
Moreover the idea has found practical expression and &C
operation in other countries The Bank embodes
this ea also the Reichsbank of Germany So the idea by
altogether theoretical and certainly essentially
dictionary.
possible that the which Mr. vanderp is
leading representative may be altogether pleased
vanderip plan By their public utterances may found
that they not Mr. Vanderbilt however by the
submit what he believed be the possible plan
currency reform and being American probably had
enough pride enough patriotism respond sincerely to this
suggestion and to submit plan which he honestly believed to
be the best for the country a a whole
At any Mr. Vanderps plan accordance
with the general sentiments of Wall Street Furthermore MIR
Vanderp plan in accord with the experience other
countries
Therefore The Georgian urges the Senate of the United
States to consider this plan carefully to consider
product of Mr. Vanderp mind and associations CON
crete expression of the plan for which through years there
has been agitation by the radicals of this country
The Georgian urges the Senate investigate operation
of somewhat similar plans in France and Germany
lightly that plan which the abroad
be conducted here is greater to be
conducted abroad to make the plan unfeasbe here
sound objection Americans doing on
much larger scale than done abroad They would
difficulty in extending and adapting the principle if
rect principle to the larger business of this country.
The Vanderlp plan be most practical progress
ive radical plan than the Administration plan Yet
is not much of experiment plan like Mr. Vanderlps
has been the popular ideal and the people should
their ideal simply because has received the Endorsement
great banker who advances plan the best possible
a most practical one for the whole country.
WILLIAM RANDOLPH HEARST.