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 Currency bill
There are two distinct plans before Congress- nvolv
ing system of regional banks and the other Government
central bank with branches embark the
not change the other without difficulty and disturbance 1t
is important to select the right plan.
good deal be said in of the Administration plan
regional banks but the plan for Government central bank
advanced by Mr. Frank A VANDERBILT not to be dismissed
unworthy of serious consideration The fact that is advanced
this moment by leading nancer with large Wall Street in
eres should not prejudice the Senate against any the really
valuable points of this plan 1t originated by Mr. Van
derp The idea of central Government bank has been
pressed by the radical thought of this country many years
AS far back 1892 find the Popus partyfounded
the powerful Changers and Farmers Aancegropng at this
idea in their Omaha platform But clearly alphabetically
find it expressed in the first national platform of the Indepen
party then representing foryfou States and Terri
tories adopted at Chicago in 1908 and reading:
THE independence party declares that the right issue
money is inherent in the Government, AND 1T FAVoRS
THE ESTABLISHMENT OF A CENTRAL GOVERNMENT
BANK through which the money issued shall be put into
general circulation"
Moreover the idea found practical expression
operation in other countries The Bank of France embod
idea the Reichban Germany by no
altogether theoretical and certainly essentially
dictionary.
1t possible that the interests oil which Mr. Vanderhp
leading representative may be altogether pleased with the
Vanderlp plan BY their public utterances may found
that they are vanderp however was asked by the
Senate submit what he believed the possible plan
of currency REFORM and being American citizen probably
enough pride and enough patriotism respond sincerely this
suggestion and to submit plan which he honestly believed
be the best for the country a whole.
At any MIR Vanderlps plan accordance
with general sentiments of Wall Street Furthermore
Vanderps plan in accord with the actual experience
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
expression of the plan which through years
has been agitation by the radicals of this country.
The Georgian urges the Senate investigate operation
lightly that plan which the successful abroad
might be successful here The objection made that the business
be conducted here much greater than the business
conducted abroad make the plan unfasble not
sound objection Americans accustomed doing
much larger scale than done abroad They would
difficulty in extending and adapting the principle if it
rect principle to the larger business of this country
The vanderp plan to be practical progress
1t is radical plan than the Administration plan Yet
it much OF experiment plan like Mr. vanderlps
has been the popular ideal the people should
their ideal simply because has received the Endorsement of
great banker who advances plan the best possible
most practical one for the whole country.
WILLIAM RANDOLPH HEARST.