The Birmingham age-herald., 1913-10-21
ALDR|CH SOUNDS
THE VIEW HELDBY
SOME OF BANKERS
IntimatiOn of Politics Has
Only Been Hinted at by
Previous Speakers
MEASURE BELIEVED
so PER CENT PERFECT
Amendments Will Probably Bring
About Law Which Will Meet AL
most Unanimous Approval of
Those Most Interested
by HOLLAND.

New York, October 20.--(SpeciaL For
mer United States Senator Nelson w. AL
dirich in an address delivered at a re-
cent dinner of the Academy of Political
Science In this city voiced q thought
which has. been cautiously hinted at in
comments made by few of those who
have been scrutinizing the pending bank
ing and currency bill In any other place
and before any other gathering Senator
Aldrich's comments might have been re-
garded as i'll timed. But those who heard
him were members of the Academy of
Political Science and they have been dis
posed at other meetings to look at all
economic questions from the point of view
not only of financial science, but also Of
national politics.
Senator Aldrich In his long experience
in washington learned thoroughly les-
son which the late John Sherman used
sometimes to teach. Sherman was accus-
toned to say to his friends that there can
be no completely successful administra-
tion of the treasury department unless
there is good understanding of what in
herent public opinion is respecting all
questions which arise, in or are directed
by the treasury department. More than
any other department of the government
in Senator Shermans view is the treasury
department brought constantly In touch
with the great material interests of the
United States.
Undoubtedly it was with that in mind
that Senator Aldrich felt justified in re-
ferring as politician to the relations
which he alleged the Secretary of State
William j. Bryan has borne toward the
drafting of this currency bill.
1t has been regarded by bankers as
extremely unwise even if their view were
the same as that of Senator Aldrich 70
make any insinuation of a political char
acter about this measure.
On the very day on which Senator AL
drich delivered his address Frank A. Van
derlip, president of one of the greatest
American banks, spoke to those who later
heard Senator Aldrch in terms of high
approval of almost all of the features OF
the currency bill He went SO far as to
say that so per cent of the bill corn
nanded his cordial approval and he inti-
mated that the members of Congress whit
drafted this bill and were now engaged
in perfecting it may properly receive trib.
utes of admiration and respect from tbs
people for the sincerity and earnestness
which have characterized their work
The Twenty Per Cent
A careful study of testimony recently
given by competent witnesses before the
Senate banking and currency commission
supplemented by examination of various
addresses and publications recently made
based upon this bill, and, especially, a
close study of part of the remarks made
by Senator A1drich make 1t clear that
there is practically unanimous opinion
that if the bill be perfected In certain
details which bear a proportion to the
whole bill of only 90 per cent then the
measure will be accepted by bankers
business men and the people as the best
that can be secured at this time.
1t was this 20 per cent of the bill to
which the bankers in their annual meet
ing at Boston recently so earnestly OBJ
jected. The practically unanimous criti-
cisms which were made by the so-called
country bankers Of the United States were
aimed almost exclusively at these details
Senator Aldrichs address. leaving out his
political allusions, was confined in its
criticisms to the very details which Pres
ident Vanderlip. President James G.. Can