Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1913-08-24
Committee Is Appointed to
Present Views to Congress
ASKING Nearly Entire Re-
construction OF Bill,
LIMITATIONS WANTED
ON POWER OF RESERVES
Red.Scou0t.0g Of Securities to
Be Optional. and Member
shin by Nationals Should
Not Be Compulsory

lev soa.iao lauepst preetst lsssto vtsrI
Chicago Ans @1 bankers from
alI parts of tho country ut the end
Ht two Ha's conference here today
uareed oH number of important
amendments to tho Owcn-Glass cur
roncN hIIl. now pending in congress,
ana appointed committee Of seven 10
so to Washington and endeavor 10
have the changes incorporated In the
measure
ON motion OF Luther Drake. of
Omaha, the following committee was
named hy Chairman Hepburn of New
York. 20 go 90 Washington and pre-
sont the recommendation of the con-
ference 90 President Wilson Secretary
of the Treasury McAdoo ana congress-
James b. Forgm Chicago, chair
man. George N. Reynolds. Chicago;
J.. j. llnl NorNalk. Conn., n F Mad
doX Atlanta. Gas Sol Wexler New
orleans. Joseph Chapman. Mlnncapo-
lis and Festus J. wade. S. Louis
'rho conference which closed to-
day was perhaps the most representa-
tive gathering Of honkcrs ever held
in this country said George NJ, Rey-
uolds tonight. "aud after thorough
consideration Of the subject We have
agreed unanimously ON what VIZ
think the country needs In the matter
of currency and banking legislation"
The resolutions adopted az the con
ference read as follows,
Upon lhs administrations invita-
tlon that the presidents of tile forty
scven state bankers associations and
that representatives. Of The one hun
drcd and ninety clearing houses
attend ana unite IN an expression OF
opinion REGARDING the proposed cur
rcnet bill ths Joint body composed
of bankers from every section Of tho
south and north, from coast 10 coast
representing country and city banks,
state aud national banks and trust
companies. after carefully considering
the bin, has adopted the following
Whereas. we recognize the impera-
tive necessity of incorporating into the
banking and currency system of this
country those proven principles which
win provide the most ample credit
facilities with greatest safety, and
currency based on gold which auto
matcally adjusts IFS volume TO trade
requirements IN order that tho highest
stability may be attained for our
commerce. thereby assuring continuity
of employment Tor the laborer and
favorable markets for the producer,
the fundamental basis of prosperity
ana
Whereas, We believe that to in
sure the successful operation Of q now
banding law. Il must hc of such
character os To warrant general ace
loptmce Of It's provisions by existing
banking institutions both state and
rational country and city, since the
first test uf che mc0sure 0f success
must be- ttc etronath ana power for
efficiently serving the interests Of the
,rttc country ana believing that the
ill. as now drawn. viii by its onorous
provisions. prevent state banks and
many national banks from Joining the
ipcratc with the administration in
ringing about the adoption of the
most highly efficient plan. therefore.
a. IT,
Resolved. That We recommend the
GLOWING changes ia the bill as now
convinced that while not
ordering the plan ideal these
hanaes win render organization moro
robablc. would avoid "a credit dis
mbancc ana provide "a system that
.ould gradually devclop into "a bul-
.arls Tor mo protection of our whole
commerce. benefting alike. and in
o,d measure. the lahorer. the farmer
nd the business man
summary of tho important
baprce In the currency bin proposed
y me resolutions adopted by The