New Britain herald., 1929-12-19

quite ready to receive such fine con- captions" He also |. reviewed the matter with Governor Stronger of the Bank of Italy and Mr. Topelitze, the administrative delegate of the Banca Commerciale Italiana, wno was strongly in favor of the plan. Mir. Topelitze co-operated with Mr. Dolan in getting the plan before the high authorities of the Italian government. Later it was officially stated in confidence to Mr. Dolan that the Italian government would gladly cooperate.
 Repulsed by McKenna
 "Mr. Dolan then went to London and on June 22, 1927, met the Right Hon. Reginald McKenna, chairman of the Midland Bank, and he sum- marized to us the result of his in tcrrieW with Mr. McKenna as fol- lows: What you want to do for Eu- rope in their banking the Midland is already doing. l cannot waste my time in thinking of anything that is not of advantage to the Nidlan Bank Mr. Dolan tried to impress him with the idea that the forma- tion of such a bank would result in suchy an increased purchasing power Iii European countries that thrV would have the ability to buy more from England and that anything which would give rise to this it SCprNad Sh r British bankers, and from pra2- teal standpoint it afforded means or increasing the Midland Bank $ business. He also met Mr. Peacock. of Barring Brothers, who said f seemed the most practical cOnStruC- 1 tive suggestion that had been put forward. His decision as to taking | any part ill the matter would. he said, be governed by the attitude of the Bank of England, he being a member of it's court. Mir. Peacock also saw CoIolel House, who had then gone 10 London, and gave it as his opinion that the plan was ahead of it's time.
 We have reports at length from Mr. Dolan regarding his discussions III London with other highly regard cd financial authorities during this visit.
 Following the discussions in Lon don, Mir. DoIan took up the matter further by letter with Dr. Schacht and again saw the National Bank or Belgium and Mr. Van Zeelanl stated that that bank would be glad to do all in it's power to fur ther the plan.
 Mr. Dolan, further in our behalf, took the matter up with Dr. Visser- Ing, governor, and the vice. goyer- nor of the Netherlands Bank. with Mr. Termeulen, of Hope G5 Co.,, and other Dutch bankers. I myself dis cUsSed and submitted the plan ;o Mir. LeWandoWski, the head of the compton d'esCOmpte in Paris.
 "On June 30, 1927, the Right Hon, Philip SnoWdcn gave an interview 10 the press as follows: He remarked on the proposal for the establish ment of reserve bank for Europe. If such a board Gas that proposed. similar to the Federal Reserve
 Board in the United Sta.cs) were controlled by men of big vision. 1 high principle, and disinterestcd mo- | lives. men who would take the En- | ropean and not"the national outlook
 1t could be the most powerful in strument ever created for commer- clal prosperity and for world peace.
 The lnterlocking and interdepen- i dence of financial interests among nations is the greatest of all deter rents of war, and of waste of re- sources on the preparations for war
 "A1r. Rousseau, of the Guaranty Trust in Paris, with whom I dis | cussed the proposals, agreed to take a copy of the plan to NIr. Mellon. who was then taking a rest on the 1 Mediterranean, and he had invited