The Washington herald., 1922-02-19
CURRENCY HEAD
DEPLORES GOLD
MONOPOLY IN US.
Great Accumulation Here
Now Presents Gravely
Dangerous Situation.
SHOULD TAKE LEAD
~. 5. Should Forward Propo-
sails to Re-Establish Gold
Standard, Crissinger Says.

In an address before the New
York Chapter, American Institute
|of Banking. held last night. Comp
troller OF the Currency d. r. Girls
singer. in a discussion of the inna-
tion now existing in Europe, de-
iared that the great accumulation
of gold in the United States at the
present time is gravely dangerous.
Mr. Crissinger voiced the opinion
hat the situation is that 1t is not
Pnly possible for the United States.
without any undue assumption. to
ring forward proposals looking to
he re-establishment of the gold
tandard, but II Is the duty of the
n1ted States to take the lead in
his matter because this country
as become well nigh a monopolist
the worlds monetary gold. With
bout per cent of the worlds
population this country holds some
per cent of the worlds gold
took.
More Than Coantry Needs.
In discussing this overproduction.
fr. Crissinger said: I'VE have lit
rally more gold than we have
roper use for; more gold than 1t is
God for US to have. Senator owen
ecently declared that we could
ell spare $500. 100000 of our accu-
hulated gold without in anywise
decreasing the security of our cur
ency system. 1t is vastly better
hat we should. through carefully
evised measures calculated to con-
erve every interest involved, be-
In the redistribution of this gold
bout the world so that 1t will be
estored to its proper function of
haintaining a sound relationship
etween currency systems and the
petallic standard. II we do not do
bis in time. the inevitable opera
on of economic law will sooner
later begin to do it in spite of
5. and perhaps in circumstances
nd by methods that will result in
Unfortunate consequences. Now is
be time to begin preparation for
his redistribution and for the res
bration of money systems AS the
hstodian. I might say the trustee,
the greatest stock of gold that
yer came into the possession of
ne country. our duty both to our
G,
sma nds that we take the lead in
evelopinS procedures by which this
pld basis of a sound currency sys-
m may he made available to the
Prvi~e OF the entire business
Grid"
In concluding his remarks. the
pmntroller called attention to the
owing and most gratifying pop
~ recognition OF the service
hich the great banking establish
r~~fS have rendered to the country.
Fich recognition represents the
-tionaI tribute TO the men and in
:tutinns that have by their poll
los conduct and cooperation so
'uph \ ticslly testified to the vision.
he inteI1icence. and the national
ririt Of those who have directed
b. forces of American finance to
he leadership of the business
For!d.
Al n. banquet.
W. \. Dexter. vice president OF
he local chapter. American Instt-
ute of Banking. yesterday an
ounced that W. p. Schumacher. To-
al community singing leader had
cen acquired to fill this role at the
nnual banquet OF the institute to
held at the willard next Satur-
hy night
Personal.
Col. Wade H. Cooper. president
n the Continental Trust Company,
ttended the annual meeting of the
rust company section Of the Amer
IAN Bankers Association at the
Taldorf- Astoria last week.
The colonel. while there. was also
guest Of honor at the Middle
mrv College Alumni banquet at the
University Club on Friday night.