The Administration Currency Bill

Author : George McClelland Reynolds
Publisher :
ISBN 13 : 9781332097340
Total Pages : 28 pages
Book Rating : 4.0/5 (973 download)

DOWNLOAD NOW!

Download or read book The Administration Currency Bill (Classic Reprint) written by George McClelland Reynolds and published by . This book was released on 2015-08-04 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Administration Currency Bill Mr. President and Gentlemen of the Minnesota Bankers Association: Recognizing as I do that the need for early currency legislation is imperative, it is with conflicting emotions that I undertake a public discussion of the Administration Currency Bill. While I hope for the earliest possible enactment of a good currency law, still, my great desire in this respect cannot, and I feel should not, stifle my convictions as to the soundness and probable efficiency of the plan covered by the bill which has been introduced. I do not want to criticise the legislative measure offered for enactment into a law simply for the sake of opposing the plan embodied in that measure, but, rather, I want to be clearly understood as being willing to waive all petty and technical objections to the plan, in the hope that discussion and analysis of it may result in its modification to the extent that it will conform as nearly as possible to the legitimate and pressing needs of the business of the country, and at the same time be fair to the banks and also assure a just and equitable treatment of the public when the new plan is put into operation. I am well aware that the enactment of legislation is very largely the result of the application of a "give and take" policy, for there are so many in Congress whose views must be considered that any bill finally passed must, to some extent, be a compromise bill, and I have long since abandoned the hope of securing such legislation as I, or any other individual, might regard as ideal. Inasmuch as no one individual can possibly know all upon this or any other subject, it is to be presumed that a consensus of opinion of many should represent greater wisdom than the opinion of one. However, to make this literally true, the consensus of opinion of the many must be the result of a broad-gauged and open-minded consideration of the subject, free from all prejudice and preconceived notions, so that their conclusions will reflect equity and justice in all their ramifications. As a result of personal interviews with President Wilson and his administration heads who have been charged with the responsibility of preparing a currency bill, I have been impressed it is the earnest desire of all concerned to devise the best plan which it may be possible to enact into a law. Therefore, I believe they will welcome constructive criticism of the bill, for I feel that they, too, will recognize the wisdom of accepting the consensus of opinion of the many rather than to rely upon the knowledge or belief of but a small number. The bill is intended to provide for a system of banking and currency in the United States which, while it will give a greater elasticity in our credit and banknote issues, should also protect our organization of credit and give stability to our business. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.