The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-01-28
CLEVELAND AND MORGAN
Mr.. Fowler Prniscs 10th In Dixcussi,,.
Einunr;pl Il hill

.Mr. hotvler Prniscs 10th IN Discussing
Financial bill.
WASHINGTON, January 27.-Tne
street railway systems of the Distrl Il
of Columbia and tho financial question
occupied the time OF the House OF
representatives to-day. The latter
subject was discussed by Mr.. Fowler,
chairman Of the COMMITTEES ON Banking
and Currency, In IN exquisite speech. in
Which he opposed bond-secured CHS
Irency and the proposition looking 10
Ethe establishment of central bank.
Mr.. Fowler used for his text the bill
introduced by him early in the present
month providing, among other things,
for bank redemption districts, which
he argued would meet national eller-
gencies
Il1e House passed BILL eStcndlnS
t. he port OF Chattanooga. Tenn, the
prliYlioge Of immediate transportation
Of dutiable merchandise without nav
lnent OF duty. The measure providing
for the laying OF temporary tracks 10
the. new Union Depot and for the Civ
ing OF universal transfers In the Dis
trtct was discussed. The bill has al
ready passed tire Senate. Tho measure
provoked active debate, many. menl-
bers ". IN sistinE that Congress should
sconsldc a permanent bill first and
Cleveland and MORGAN. "
MI. Fowler declared that The unitet!
States had the worst financial ana cur
| fenCy process in the world instead OF
| the hes hat Is the acute uuestionf''
ahe snuulrad. rs it bond secured c,l.-
rency?s' that WAS a wise nnd propor
| form OF currency, he asked, why had
not some nation adopted ii BY TILT;
tlme: Japan tried It oSernight, lie
said. but quickly gave 1t tlp. Mr. 1Fow--
lers favored coming reserves out OF
gold Omitted States notes.-the said. wcr,
mere promises to pay. "a mere piece 81
/ nat issued during tile War.', Il hey 8hn,
| never been retired because neither Iii,
Republican 5nor the Dcmocrasic partie.:
ever had the political courage to- Ia
their duty. Mr. Fowler paid i trlbut,
TO Grover Cleveland for his scouras:s
IN graspinS the free silver monster hs
the throat and appealing 10 Americans
! to provide tor the maintenance of the
Inatlonal honor by handling anu con
5'rollhs' eXchnng ss until We could re-
coup our go 81" His concluding refer
cnco To Mr. Cleveland was greeted with
| loud 8L,enlocratl c Il applause when atht.
said; II for one thank God that ii
man like Grover cleveland was Presi-
dent OF tho United States that yeul
~ Y : - cAN' ~ . tGIl u I'll gs gov
ernmcnt was attacked by Mr., Fowler
rs q curse to trade and commerce. ut
ls q source OF suspicion he declared,
[ ''n aource OF hatred, q source OF see
[ tlollal rivalry He said he knew noth-
| ,ingNtllat 30 constantly aroused sectional
feel lug "as this distribution OF ,nonas
Ilnstfnles Of stress Esl
III RefeErlEs to the action OF Mr. j,
lE'ierpont Morgan In coming to the res
cue OF the money market re Gently Mir.
10 Wlers asserted that an Individual
thanking system cannot stand alone, ha-
cause every A Serioust 5rllnior tluses;
runs. and the hanks know they rnli-
not survive, These banks. he said
one harmonious whole. $f / was high
tins, !. he said depositors knew who
WAS 1 hi the bow els OF tho hank d when
they placed their none With hem,
Isot giants IA Harculea OF llnanG e,$f ii q
banker stu teslrss a. IN hn ker y NJ