The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1914-07-25
GEORGE E. ROBERTS.

The report that President Wilson
may name George z. Roberts, now
director of the mint, to the place
on the Federal reserve board left
unassigned by reason of Mr.. Jones
withdrawal, will give rise to a very
general hope that this may prove
the Presidents intention.
Mr.. Roberts has been more than
generously supported by all elements
of business, professional, and finan-
cial life, for a place on this board
Especially has he strong support
from the Chicago district, for which
Mr.. Jones was named, and to which
he would be accredited. This is ex-
planned by the fact that for several
years Mr.. Roberts was president OF
the Commercial National Bank in
Chicago. 1t was one of the solid
old, and potent institutions of that
city. When it was consolidated with
the Continental and Commercial
National, Mr.. Roberts retired be-
cause the executive force of the Con-
tinental, which was the larger and
the dominating institution, went to
the consolidated institution.
Dir. Roberts thereupon returned
to the position of director of the
mint, which he had held for long
time previous to this banking ex.
perience. He was first appointed to
that place under President McKin-
ley, who was attracted to him
through reading some sound-money
literature that Mr.. Roberts pre-.
pared during the campaign of 1896
Without having ever met him, Mr.
Mckinley was led to inquire who he
was and whether he might be avail.
able. Mr.. Roberts lived in the home
town of Congressman Dolliver and
was his intimate friend, as well a:
a lifelong sympathizer with the
progressive ideals of men of the
DoIliver group in. the Republican
party.
1t was Mr.. Roberts who induced
the Iowa Republicans to adopt the
old "Iowa idea" tariff declaration
during the first Mckinley Admins
tration. That was the mo shelter tt
monopoly" declaration, which wa:
later Endorsed by Mckinley in the
Buffalo speech just before his as
sassination. It was a plank which
marked the beginning of the schisn
on tariff issues within the Republi
can party.
Mr.. Roberts has been pre-emi
nently a scholar and student of pub
lie affairs. He is recognized in thi:
country and abroad as the foremost
authority on the intricate question
of the worlds production of gold
Years ago, he took up the study Of
banking and currency reform, ane
out of those studies came numerou!
addresses and articles rich with use
full suggestions which have to a re
narkable extent been adopted in thu
formulation of the new Federal re
serve law. No stronger recommen
dation for Mr.. Roberts could b,
urged, than a reading of his writ
ings-they now sound like prophec!
on this subject, before it was com
manding the general attention o.
the country. They brand Mr.. Rob
Crts as prominently the scholar O.
finance, the man who knows wha
the Federal reserve organization i
about, how effectively to fit it int
the national fiscal system, and how
also, to make it most useful in oul
relations with the rest of the bust
ness world.
During the panic of 1907 Mr.. Rob
erts was head of the Commercial
National Bank, and chairman of tn
Chicago Clearing House Association
During that troublous time he devel
oped highly important and usefu
suggestions to enable the Govern
ment to help business through it
period of stress.
In brief, Mr.. Roberts would pre-
cisely fill the place on the reserve
board, and command the confidenc,
of all elements. 1t is difficult to be
lieve that a better selection coulc
possibly be made.