Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1907-12-13
oLITIcAL
RidsoIy For Central Bank.

Ridsely For Central Bank.
During the evening devoted to 'Les-
sons of the Financial Crisis by the
American Academy of Political and
Social Science at Philadelphia many
financial experts advocated central
government bank as the true remedy,
among them Comptroller of the Cur
rency Ridgely, whose defense Of the
president was cheered by the audi
ence. He insisted that the causes Of
the panic were worldwide and that the
critics of the president had done more
than any one else to unsettle the finan-
cial conditions of the country. The
central bank in some form was advo-
Gated by Bankers Schiff, Seligman,
Nash and others.
Senator Foraker's Candidacy.
The letter written by Senator For
aker of Ohio in response to the reso>
buttons of the Ohio Republican league
committees last week was his formal
announcement of willingness to accept
support to the end of his becoming the
candidate of the party for the presi-
dency. In it the senator virtually laid
| down his platform by saying he will
| stick to his policy Of opposition to
executive encroachment and by oppos-
ing tariff tinkering
i Fowler Predicts Disaster.
Upon the eve of the opening Of con-
gress Representative Fowler OF New
Jersey, head of the house banking and
currency committee, issued predic-
ton of coming financial tragedy of far
greater proportions than the present
panic unless we stop issuing fixed
bond secured currency. He says that
the banks of the country today have
about $12,0o0,O00,0o0 in deposits and
about the same amount of loans out
standing, against which they hold re-
serves of only $900,O00,00o. Of which
$780, 100000 is In bank note promises
This he calls 'the worst and widest
form Of imitation" He defines it as
"basing one credit upon another cred
It," hence he deems the credit currcn-
cy the safest because it would always
be sent to banks of issue promptly
and necessitate proper reserves.
The Man Without Party.
The refusal of the house Republican
caucus to admit Representative Peter
A. Porter after he had expressed his
desire to be counted among the Re.
publicans left that new member in the
role of the man without party, fol
already he had objected to being listed
as Democrat. Porter was elected as
an Independent Republican in the
| Twenty-fourth New York district BY :
large majority over James w. Wads
worth on the regular Republican tick
ct at the time Wadsworth was suffer
Ing for his stand against the presl
dents meat inspection bill ip congress
That is why they say that Porter rode
into congress on n cow
Bryan Likes the Message.
i w. Bryan is quoted as being II
accord with much of the presidents
message to congress. In particular he
likes the recommendation that the gov
eminent pay the expenses Of elections
only he would add a provision against
private contributions. He also strong
~ approves OF The postal ana guaran
teed banks.
Naming Fowler, 5nahs Plat.
| The nomination of Edward S. Fowler
as collector Of the port of New YorI
without the knowledge Or approval ,of
the New York senators was regarded
as a direct snub OF Platt, who has al.
ways had much to say about this i'm
| portant political plum. Fowler il
known ais a Roosevelt Democrat and
is an old personal friend aud former
employer Of Secretary Cortelyou. New
4 York papers unfriendly to the presi-
/ dent say it is sign that he is trying
l-to-leeep the .eegaaiization from sending
Hughes delegation to the national
convention. -