The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-11-19
FayOrs Pet Financial Plan of
Senator Aldrich.
ssEMINENT SENATOR
Says Dolley, Fully Qualified to
Perform the Task"
But West Must Have a Voice i'm
Control.

! ihe state bank commissioner gave
cut an interview TODAY wherein he ia
Vors the Central Bank plan proposed
~ Senator Aldrich of Rhode Island.
Can we believe our ears? Can we
cepend upon our eyes? What does this
mean! One of the commanders of the
| 'insurgent'' forces says kind words of
senator Aidrich and his ideas?
1t was only on Tuesday that Henry
Alien, the close friend and former part
! her or Senator Bristow, voicing appar-
! entity the sentiments of. the ..insur
SeH.s OF Kansas, came out in a start
r,uS oecldratlon; There is no use de-
lying II; no use concealing the fact
mat Kansas is anti-Aldrich, anti-Can-
non and anti-Taft, and practicalIv
without dissent. Mr.. Taft, good man
ehat ne is. has lost Kansas. Kansas
Ioresnadows the revolt of the naIon
| of Aldrich'' 'iie cru
w, Wnat does this new note from Dolley
that IS heralded out today-the voice Of
! tHe lnsurgent but the hand of the reg
only last week Aldrich came to
i Kansas City. Mo-, stepned on +he
| Inresnold of Kansas. but turned hack
1ao ne been here a week later and
nsard the siren voice of Bank Com
come over into this iinsurgent's state
OF ant-Taft and anti-Aldrich andEsaifI
a few things. '-'-0 'e''u
Alas! Alas! 1t may be too late and
Alorich may not again be so near our
waves of insurgent reform were so
wildly beating but three days hitherto
! speaker Dolley in his interview to-
Iay says: believe that the central
by this country. For nv part. T shan
not object to Senator A1drich of Rhode
Island working out the details. This
mlnent senator is fully qualified to
perLorn the task, as we all know"
That Eminent Senator.o Great
scout! What are We coming to-? IF
tnls keeps on, some Kansas ssin-
surgent" will soon be saying our
worthy President" of Taft and that
lncorruptible Speaker of Cannon.
Can 1t be that Commissioner Dolley.
lhe governors right hand. is taking
note today of what Governor Stubbs
SAID sal IN the last paragraph of his
Thanksgiving proclamation inst is
sued; If any differ from us. we
should seek reconciliation to the end. .
Bank Commissioner J. N. DoIIey
has returned from attendance at the
meetings of the group banks
scheduled for the first four davs of
this week. Meetings were held at
Kansas City, Pratt, Junction City and
Pittsburg. The bankers of eastern
Kansas are feeling pretty good over
the present financial outlook in this
state There is plenty of money and
every indication of an indefinite con-
t1nuance of prosperous times
The Kansas bankers. however are
agreed that the present monetary sys-
tenn in vogue in this country is in
aoequate TO meet the pressing de-
mands of business. The moving of
crops, building new enterprises and
improvements in city and country
side. all these legitimate and perfectly
safe enterprises. demand more money
at times than can be readily supplied
from the volume allowed by the pres
ent system.
Kansas Bankers Favor Plan.
The Kansas bankers. according to
| Mr.. Dolley, are not in favor of the
postal savings bank plan as a remedy
for monetary shortcomings. They are
inclined to favor the centra! bank
plan. but are not agreed on the de-
tails of this plan
Dolley on Central Bank.
Speaking of the central bank
scheme. Mr. Dolley gave out the fol-
lowing interview which is of great in
terest at this time:
| 'tI believe" he said. ''that the CEN
trail bank plan will eventually be
adopted by this country in the place
of our present faulty system But
congress will solve the problem. 1t
! will take time to work out the de-
tails in a manner that will be
satisfactory to both the east and the
| west.
%'This country has the most in
/ dependent banking system in the
world. Our bankers are each one
important, aggressive and independent
in his own sphere. his own town or
| circle of business. He is polite to
the bigger banker in the larger city
with whom he is connected in the
usual banking way, but he does not
have to grovel before him SO long
as he runs his own business in q safe
| and able manner.
NOW in England the Bank of Eng
land is supreme and the bankers of
that institution rule the finances of
| that country and the other bankers
j true of the Bank of Germany and the
Bank of France, all centralized banks
and vested with the balance of power.
Danger of Too Much Power.
1--WE want to avoid giving too much
power to our proposed central bank.
We want the big bank to swell and
I solidify the volume of our currency
and yet not destroy our excellent sys-
lem of Independent banking.
'.The western bankers do not want
the new central bank esta blished in
Wall street. They would prefer it as
far west of that dangerous influence
SIS Chicago but would compromise on
some city ebtween these two points.
The east. as represented ny new 1Orh
| tity and Wall street, already has too
much power over the finances of the
! entire country
DoIIey on Aldrich.
! "For my part, I shall not object to
Senator Aldrich of Rhode Island, in
his capacity as chairman of the COM
mittee on finance of the senate, in
vestigatiEg the central bank plan and
1 working out the details. This eminent
/ enator is fully qualified to perform
,he task, as we all know. and his
l.ariff record should not weigh against