Elk City mining news. (Elk City, Idaho) 1903-1913, 1909-11-13
CENTRAL BANK IDEA
OPPOSED BY CONGRESSMAN
FOWLER OF new JERSEY.
Addressed An Open Letter to Senator
Aldrich, Challenging Him to Debate
Says Project is Un-American-
Names Propositions to Confne De-
bate-Thinks Central Band Idea Bad

Charles N. Fowler, congressman from
the Fifth New Jersey district, and
former chairman of the house commit.
tee on banking and currency, has ad.
dressed an open letter to Senator Nell
son w. Aldrich of Rhode Island. chair.
man of the finance commission of tbo
senate, challenging him to Joint de.
bate IN one or more cities, on the sinh.
ject of a central bank.
Mr.. Fowler writes that he is onnosad
to the establishment of a central bank
under existing conditions becase with
1t would come most discouraging and
disheartening favoritism and the ulti-
mate destruction of our purely indi-
vidual and Independent form of bank
ing. The letter follows:
Just before you started for Europe
In August it was stated in the press
that as result of a meeting of tbe
monetary commission, of which Won
are chairman, central bank was To
be advocated by your commission and
upon your return from Europe Won
would proceed with a view of in
structing the people upon our financial
and currency needs and recommend as
a cure all a central bank.
After your departure there. was an
evidently inspired and well-organized
propaganda in favor of a central bank.
conceived and carried on for the pur.
pose of preparing the way for your
Homecoming and your arrangements
to swing around the circle and init
ate the people of the United States into
the mysteries of your central bank
plan.
Challenge to a Debate.
lnasmuch as 1 am convinced that
the one thing above all Others that
this country does not want is a central
bank, because it will not effect or ac-
comphsh the necessary reforms, but in
the end will make a bad condition i'm
measureably worse; therefore, in order
that the American people (who, ] know
VIII decide this most important cues
ton now pending before them for con
sideration and determination right, as
they did that of the gold standard, If
only they be given an opportunity Of
having both sides Of its fully presented
and discussed) may be informed as
early as possible, i now challenge YOU
10 JOINT debate upon the following
% First, a central bank will not ef-
feet or accomplish the necessary reform
Of our finances and currency, is insult
ed 70 our conditions, will accentuate
many Of our present evils, and will pre-
eipliate and develop other evils OF
most serious nature.
second our financial and currency
problems must be solved upon economic
lines of an entirely different character
81 assert you can not successfully
ana Denehcially superimpose mon
afehieal form Of banking upon nearly
10000 individual, independent, free
banking institutions which have grown
ana developed in harmony Will the
of our republican form Of
government aud arc themselves repub.
liean in form and character.
un American, He says
10 establish q central bank iu this
country under existing conditions would
pa nnlemocIailc, uuIepubliean and uu'
american and lnimieal AZ iho general
Aeliafe of fle people because eifh a
eenifaI bank Nill como a most discour
'fiif ana qisNeafieuipg faforlilsW, abe
siaqNai breaking down and ultimate
ltafNfilpn pf ppf pplely luaIsiauni
'Na indeponaeui form 0f lonhIug
~ hlll msei soy in joint debate
apDN iNf Hp0lf proposition ai ono
W mofe NJ Np loaalnF eliIos up NJ 100
NJ mQfe NJ iNom n yQu eAooao "a apeN
|Nff PAD plDN fuel conditions ol iolnf
n. may M Nelaed upon leinron M AnIe