Omaha daily bee., 1909-11-12
ON CURRENCY PLAN
Omaha Bankers Express Varying
Opinions on Central Bank.
WILLARD FOR, YATES AGAINST IT
Head of Nebraska National ViROr-
ousIy Opposed 60 Rhode Island
Senator's Financial situation
Luther brakes Views.

Omaha bankers assume varying pos
ltions in relation to what may be assumed
to be the suggestions OF Senator Nelson
w. Aldrich in his address at the CONNER
clal club dinner. They join in an appreci-
alton Of his speech as a comprehensive
dissertation on the banking system and
financial problems involved, but are not
hasty in avowing unqualified concurrence
to any one solution
Henry. w. Yates, president Of the Ne
braska National. gathered the idea that
Mr.. Aldrich stands for the making OF a
great central bank as "a government insti-
tuition, and the Omaha banker II most
positively opposed to this proposed solu-
tion Of the problems before the masters Of
finance. ,-.-
THE tenor Of Mr. Aldrich's remarks
was purely educational" said Mr.. Yates.
and It is true that his endeavor seemed
more in the direction OF arousing interest
In the questions involved than Of pro-
posing any distinct plan.
Nevertheless the impression he con-
veyed. whether he intended to do so or
mot, was in favor Of the creation OF a
great government institution, which should
assume the management of the banking
affairs of the country.
The difficulty he presented, in keeping
such a question out of politics, II such a
great government banking institution was
established, must have arisen in every
thinking mind.
Yates Fears Political TFoubIe.
'"The business men OF this country are
heartily DESTROYS OF Keeping financial and
banking questions out Of politics. No one
fears the ghost Of General Jackson. He
may have been right or he may have been
wrong in the fight he made on the old
United States bank, but what we really do
fear is the recurrence Of the same condi-
lions which provoked that controversy.
For this reason, II for no other, the idea
Of a government bank Is to be deprecated.
Some other method of relief should be
sought for, TO remove a weakness which
we all admit exists in our banking system.
"Mr. AIdrich distinctly asserted, however,
that this government bank should be the
servant, not the master, in these affairs.
His appeal was entirely from a patriotic
standpoint. There was really nothing in
the, address that could be criticised"
I'm following Mr.. Aldrich's suggestions
the more 1 study them the more perplexed
become said Luther Drake, president
of the Merchants National bank. ut is
true that Europe seems to get along bet
ter than we do here and is generally more
free from financial tangle than we. But
then l don't know that the same results
would follow from the adoption Of their
system here. Different conditions there
might preclude the success Of the same
system here, ''.' q, Pole
II don't want to go down as being for
or against a central bank. 1 think that
Mr.. Aldrich made a strong interesting
talk. He has most positively stated that
he is not committed TO any plan.
Mi1Ihrd Likes AIdrich Ideas.
]. H.. Mnlard, president of the Omaha
National bank, .isl7well pleased with the
ideas that Mr.. Aldrich advanced.
Senator Aldriohv created a very favor
able impression, 's SAID Mr.. Willard. MANY
who came ato ~crttieise found themselves
satisfied and pleased with his attitude.
II arm convinced Of the sincerity of Mr..
Aldrich'sD declaration that he is COM
mitted to no plan. He Is here but to in
terest the business people in the question
to be solved. He has said that his mind
was open. He repeated that statement TO
me on his way to the station this morn
ing" '.f'
Senator Aldrich and his party left for
Des Moines over the Rock Island Thursday
morning at 1890 O'Clock. j. H. Willard
i and Luther Drake saw the party off.