New Britain herald., 1929-12-19
New Britain Native Credited With Conceiving Program For
 Young's International Bank

the greatest newspapers in the world. Colonel House and myself thought that if the proposals could he broached at the conference they would thus be given the widest pub Ncity and be subjected to the crjti- cism, friendly or hostile, of the greatest collection of economic anl financial leaders ever got together.
 Plan Approved at Geneva
 "Mr. Dolan went to Geneva, saw Mir. Robinson and Mr. Roland w. Boyden. who was also there. On Mir. DOlan'S return to Paris he re- ported to us as follows: That he had seen both these gentlemen and that they both had looked with favor 01 the plan submitted; that Mr. Rob inSon proposed to bring it to the fore if possible during the confer onCe, but on discussing the matter with the British delegates. they had objected to his doing so, reminding Mir. Robinson that it was subject beyond the limitations of the con- ference and that if the issue were forced they would open up the whole question of international debts. AIr, Robinson therefore wise F. concluded not to press it. He stat ed to Mr. Dolan that he would broach the subject to Mr, Owen D. Young on his return to the United States and expressed the opinion that the latter's cooperation could be expected. Whether he did so or not, l do not anoW. Mr. Boyden felt that some such organization for d super-ccntral bank should and could be brought about, and that in his opinion. if such q man as Reginald Mckenna became interested, the proposals could be realized.
 Mr. Dolan then went to Brussels, Colonel House having put him in tCuCh with D. x. Heneman, a prominent finnncier there who had wide financial contacts in Europe The proposals were discussed with ham and, at his suggestion, with Mir. Van Xceland. of Belgium's Bank Of Issue, and others Mr. Heineman proposed that Mir. DOlan should go to Berlin 10 see Dr. SChacht. of the leichsbank. This Mr. Dolan did and on June 10, 1927, met Dr. Schacht and ReiChsbank Director II. HuIse in conference. On June 15, 1927. Dr. SchaCht wrote 10 Alr Dolan that he ,N l 1r i,,ta ,I in,
 posals and that they ought to be put before the other important central bankers and that he would be very glad to meet these gentleman and Mr. DOlan in order to further dis cusS the matter. although he stated it. must be realized that many ob- jtctions would certainly arise and equally as many difficulties of q political nature would need De cleared up.
 Discusses German Preparations
 During the discussion of pro pCsals with Dr. Schacht Mr. Dolan presented a plan advocating fixing the sum of GeImany's rcparations payments, the funding of same, and in this connection called attention 10 the primary importance of such facilities as d more satisfactory method of handling the whole rep arations question. To this Dr. Schacht remarked, Do not change a word of it (the plan submitted That is what Germany wants" The above statement was the report made to Colonel House and myself by Mr, DOan
 T saw Dr. Rist, of the Bank of France, myself and also later gave Mr. Dolan a letter of introduction to him. He took the attitude that it should be presented to the Bank of France in a more official way, but he was glad to give the matter seri- ous consideration. Mr. Dolan also. as reported 10 us, had taken up the matter with the late Governor Strong of the Federal Reserve Bank of New York and Governor Norman Oi the Bank of England. The latter expressed no opinion to NIr Dolan Governor Strong, some time back on reading a rough draft of the plan, ! felt that the world was not then