Evening star., 1922-02-20
WORLD STANDARD
OF MONEY NEEDED
Controller Crissinger Says
the Time Is Ripe for
U. S. Proposals.

Chapter, American lnstitute OF l'ank-
ing, at the Hotel Commodore. SATURDAY
night, Controller of the Currency ID l..
Crissinger referred the monetary sys,
TENS of the world as disjointed, and\
he stated that their unrelated condi-
ton is responsible for some of our
economic and social relationships
But he was Of the opinion that the
currency system could be brought
into sounder conditions than M
world has ever known and that w
can ultimately establish substan
tial monetary uniformity that mgr
do away with fluctuations IN inter
national exchanges.
He said in part: 81 am convince"
that consolidated credit and go!d re
sources Of the world are ample -
sustain such "A system. l beil"te IL
time is ripe for this effort TO ne az
dertaken and ! believe that Afn"fIcdi
financial opinion should be prepar""
TO present proposals looking 20 tnl@
end either at Genoa or some Ia'''
International economic conference
Duty of the United states.
.I, is not only possible for III"
Tinted States. without any undue a
sumption. to bring forward prppo 80
looking TO the llshlnthI u %
gold standard: hU, i is. the CulN,
81
This matter beraue <&iS counIry ~
heoon:o well nigh nonopoilst OF .he
vorId's Inoncl...r ""i.. Win dDo-
nor cent of tn" worlds population
This country holds some aO l1.F 80,
of the worlds gold STRIKE we 49,
nrnner use for: more gold than II =
good for us TO nave s,,r,,
..Senator owen recently declarcu
thar we could well spare Sonn n.o"p'""'
Of our accumulated gold With"ut -
snyyise decreasing the security -
oii- currency systcrp. Il is vastly b"'
Ter that we should, through careiuIIN
devised measures. calculated 4" Oh
serve every interest involved; peg u
the red istri button of TINS eoIu d.
to i,s nroper function of maintainlh1
a sound relationship between cui
rency systems and the metali1c stah"-
ard.
Inaction May BE Costly.
eff we do not do this in time IN"
inevitable operation Of economic .aW
will sooner or later begin 10 90 IL 10
sDite of us. and perhaps IN cIrSu
stances and by methods thar VIII r.
suIt in unfortunate conseGaeAce.,
Vow is the time 10 begin prepara-
tion for this redistribution a"u 70
the restoration of money systems. a.
,be custodian. ! might say the trustee
af the preatest stock of gold that ever
came into the possession OF on
country. our duty both to ourseINrN
and TO the world ~ large deilaH"r
that we take the lead in deEeIoplh-
procedures by which TINS gore p4s
Of a sound currency system may ,'
mode available to the service OF th'
entire business world.
Mr. Cooper in New York.
Wade II. Cooper. president Of o..
f-n.oln4lN,
the meeting of The Trust DIVISION %
the American Bankers ASSoClaii"
baId AT the WaldorfAStorla Hol"I'
New York, last week
Agricultural Conditions Improve.
Improvement in agricultural cond!,
tiors is beginning 10 man!fes'
in an orderly liquidation rent.t'u ~
;recent repayments 10 'he Val ~ g..
Corporation in connection win ~
loans for export. agricultural ahp
live stock purposes. Managing Director
Eugene Meyer. jr.. declared ION 81
in a formal statement :,
From January 1 TO February D, IN IN '
elusive he said, a total of S15.233,oc0
has been repaid to the corporation, OF
which s3,s2O,000 represented repay
ments of loans made under the Nd
mowers Of the organization ci SHat
sum, he added, Sl63,OOO was repair on
cattle loans and So 5.,oeV on ram oAu
and public utilities loans.
Renayments of export advances, Mt:
Never said. totaled Sh64l,oOe' oi
which $4,000 was from exporters
s.35. 900 from cooperative asSocla
tions and s2.694,oOo by banking lnst-
tural and live stock loans, he contlh
Iiuuidation of export loans hnanced
through Edge law bank accepianceS-
Renayments on account of aSricul-
turaI and livestock loans, he conun
ned. aggregated $50. ,o0o. of which
50 s-7 900 was repaid by banking IN
situations, S34., goo by live stock loan
companies and $4,000 by co-optra-
tive associations.
"AIl repayments have been Noluh-
tary." MIR. Meyer said. and con
siderable part of the total rtpreSeL =
repavments before due dates.
Merchants Trust Company Home.
No sooner had the branch post Office
moved its effects from the ground
floor of the Southern building Sal
urday night than worimen entered
upon the task of rearranSlnS the
space to accommodate the new Mer-
chants Bank and Trust Company that,
is to make its home there in the very
near future.
Peter A. Drury, president OF the
company, said today that IT would
take about a month to have the rooms
in shape for occupancy, and declared
that when finished the corner would
show one of the most comfortable and
tastiIy arranged banking houses in
m rifv