The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-06-01
THE FOWLER CURRENCY BILL.

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bill during ;he session OF congress The fact tina
nothing was done al the held last tn,
/ time regarded as proof positive that Mr. Fowler and h
friends would not attempt to push the measure ard snc
then several things have occurred to strengthen belize
that the whole matter win probably allowed drop
quietly as possible under the circumstances One OF hes,
was the announcement that the adjourned fo
week from the date Of the original meeting would no
be held at that time but would be postponed because
alleged republican members who were interested
tn" bill were out of the city. This may have been the
real reason bot i is hardly likely that was lnasnuct
it stated that the was not to bind its pac
pants aud therefore, be more OF mere conference
than anything else there would have been no reason fo
anyone remaining and it is quite likely that the
absence of the comparatively few members who are
OF the city at present would made any great
OF difference
However all this may be- the caucus was postponed Until
next week and there many who say that will
held then II It is held 1t is quite unlikely that anything
tending to advance the interests the measure will be done
The members of the dominant party nave not been deaf
to the against the Fowler bill which have been com
ing from all parts Of the country past and they
realize that about the best thing be done with the
OH Just no" VIII be to place in pigeonhoe where
1t viii be quite safe and where may temporarily
gotten 1t could possibly passed. even il brought
before the house According have looked into
the matter very closely there is no doubt that large
majority of the republicans and all OF the demo
Gratis are strongly opposed the would vote
against II under any and circumstances The evils which
would from the establishment branch banks
currency and some of the other things provided for in
measure have been called to the attention of legislators
IN many different and from many different sources
Heads Of small banks in all parts the country gone
on record being of the opinion that the branch bank
soheme would have the effect Of running the small bankers
by concentrating the money power in few great
such statements have from republicans as we'll as
democrats and therefore naturally more effect on the
republicans in the house The individual protests have been
augmented by those from associations of bankers and on
the whole it has been made plain that the Fowler plan is
not at all acceptable This being the republican
politicians Of the house think it would be unwsc TO attempt
to force the bin through eve OF the congressional
elections fearing that in many close districts action
might have the effect of throwing the democrats the
victory which might otherwise go the republicans So
on the whole quite likely that no real attempt to
enact the bin into law win be session and that
nothing more than perunctory endorsement OF the
measure will be in evidence the forthcoming caucus
Next session, alter the aud elections are
al an end the republicans will probably do everything
their power to push the obnoxious bill through Whether
such an attempt will be successful question which
! only time can answer,
Representative Lewis OF Georgia is member OF the
committee on banking and and who has given the
Fowler bill considerable attention and study
says that the republican politicians afraid bill
and that they do hesitate say So The minority
OF the committee he said, has in report against the
bill confined itself discussion of principal features
and the manner in which have shown up its dangers and
ITS fatal weaknesses has, think had much 10 do with
shaping up the republican opposition There is little doubt
in my mind that the measure is dead so far As the present
soes;o, :. .a,,...i " " ' P'~'''
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as somebody has aptly said, the bill is designed
make possible 'Atotganlation OF the banks of the
med States lust at this time when the attention Of the
PUBIC mas been fawa So vridy 10 the evil effects OF
nauonS OF great dealers IN food supplies the republicans
,ey IT. would be the height Of oiy to 90 before the country
WIN proposition to place the banking the country
M the hands OF few men 1t is bad enough under the
present. conditions would be infinitely il the law
permitted the cstabShmcntep branch banks as arc
provided for IN the Fowler bill.
lhai NJ provides for an amendment Of the National
nnk acts so as 20 authorize the establishment OF branch
en 'houehout the United States its possessions aud in
lofcigu countries the provision tho United States
possessions and foreign being limited to banks hav
ing capital OF $5,oooooo This is undoubtedly ono Of
inc most dangerous features OF the bill must neccs
sS mean the estah hmcnt by law financial monopoly
inc creation OF an Immense money Its inevitable
result would be the death and destruction of the local banks
IN az communities to- which the great banking institutions