The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-10-25
FOWLER READY TO
MEET Nh. ALDR|CR
New Jersey Congressman Wants
Public Debate on Subject of
Central Bank.
IN OPEN LETTER OPPOSES
THE CENTRAL BANK PLAN
Holds That Its Adoption Would
Mean the Destruction of In
dependent Banking.

ElglkA1SJs II. ~ wv
Charles ~ Fowler. congressman from
the Fifth New Jersey district and
former chairman of the house commit
tee on banking and currency. today
addressed an open letter TO Senator
Nelson w. Aldrich of Rhode Island,
chairman of the monetary COMMISSION
created by congress and also chairman
of the finance committee of the SEN
ate. challenging hlm to JOINT debate
in one or moro cities on the subject
of central bank.
Alr Fowler writes that. be is opposed
to the establishment of central bank,
uuder the existing conditions, because
hc believes that with II would come
most discouragiug and dlshcartenIng
favoritism and the ultimate destruc-
tion Of our pnrclv individual and inde.
pendent form OF banking
Text Of the Letter.
The letter follows:
''.Iust before YOU started for Europe
IN August, il was stated IN the press
that as result Of a meeting OF the
monetary commission, of which you arc
chairman. a central bank was TO be
advocated by Your commission, and
that upon your return from Europe You
would proceed with view of instruct
ing the people upon our financial and
currency needs, and recommend as
'cure-all central bank.
''Aftcr Your departure, there was
an evidentlS inspired and Nell.organ,
iZed propaganda in favor of a central
bank. conceived and carried on for
the purpose Of preparing the way for
Your home coming, and Your arrange.
menls 10 swing around tho circle and
initiate the people of the United states
into the mysteries of your central bank
plan.
Make Bad Condition Worse.
''Inasmuch as / am convinced that
the, ono thing above all others that
this country docs not want is n central
bank, because ii will not effect or ac-
complish the necessary reforms, but In
tho end viii make bad condition I'M
measuTsbly worse, therefore, III order
that the American people (who |
know will decide this most important
question now pending before them for
consideration and determination, right,
as they did that of the gold standard,
If only they be given an opportunity
of having both sides Of il fully pre-
scnted aud thoroughly discussed) may
be informed as early as poSsible-l
now challenge you to a Joint debate
upon the following propositions:
Basis OF Discussion.
4" First-A central bank will not Of
feet nor accomplish the necessary re
form ~ on aud
unsuitcd 10 our condition, will acccntu-
1tc many of our present evils and
Erecipitatc aud develop other evils of
II most serious nature.
SccGnd-Our financial aud currency
problem must bc solved upon ecoupmic
lines OF an entirely difrcrcnt charay ter.
81 assert YOU cannot successfully
arcbiaI form of banking upon nearly
25,0 900 Individual, independent, free
banking institutions, which have grown
up and developed In harmony with the
principles of our republican form of
government and arc themselves rcpub.
lican in form and character,
Would Be "Un-American.
'To establish central bank in this
country under existing conditions
would bc Democratic, n.Rcpubl-
can 9pd I'M American, and inimical To
the general welfare Of the people, be-
cause with a central bank will come
n most discouraging and dsbcarteuing
| fayoritism. The gradual breaking down
and ultimate destruction Of our purely
individual and independent form of
| banking.
II VIII meet you in JOINT debate
upon the above propositions, in one or
more OF our leading cities-up TO one
| hundred or more of them. If YOU choose
at such times and upon such condi
tjons or terms as may be agreed upon
! Ey MS hereafter -