Los Angeles herald., 1909-10-25
WOULD DEBATE
CENTRAL BANK
WITH SENATOR
CONGRESSMAN FOWLER ASKS
TO MEET ALDRlCH
NEW JERSEY REPRESENTATIVE
SAYS PLAN is PERILOUs
cure ALP Advocated by Chairman of
the Finance Committee Is De-
clared Destructive to Pres
ent System
[By .Assoclated Press.

| LlZABETH, N. J., Oct. 24-Charles
IL n. Fowler, congressman from the
Fifth New Jersey district and
former chairman of the house commit.
tee on banking and currency, today ad-
dressed an open letter to Senator Mel
son w. Aldrich of Rhode Island, chair
man OF the monetary committee, Great
ed by conbress, and also chairman of
the finance committee of the senate,
challenging him to joint debate in
one or more cities on the subject of a
central bank.
Mr.. Fowler writes that he is opposed
TO the establishment of a central bank
under existing conditions because with
1t would come most discouraging and
disheartening faVor.tism and the ulti-
mate destruction of our purely indivi-
dual and independent form of banking.
The letter follows:
Just before you started for Europe
IN August 1t was stated in the press
that as a result of a meeting of the
monetary commission of which you are
chairman central bank was to be ad-
by your commission and upon
your return from Europe you would
proceed with view of instructing the
people upon our financial and currency
needs and recommend as a cure ALI
central bank
Inspired Propaganda
After your departure there was an
evidently inspired and we'll organized
propaganda in favor of the central
bank, conceived and carried on for the
purpose of preparing the way for your
nome coming and your arrangements
TO swing around the circle, and initiate
the people of the United States into the
mysteries of your central bank plan.
"Inasmuch as I am convinced that
the one thing above all others that this
country does not want is a central
bank, because it will not effect nor ac-
complish the necessary reform, but in
the end will make a bad condition i'm
measurably worse, therefore, in order
that the American people who 1 know
will decide this important question now
bending before them for consideration
and determination, right, as they did
that of the gold standard, if only they
be given an opportunity for having
both sides OF it fully presented and
thoroughly discussed, may be informed
as early as possible, now challenge you |
to joint debate upon the following |
FowIer's Contentious
First, a central bank will not effect |
n accomplish the necessary reform of
'ur finances and currency; is unsuited
o our condition, will accentuate many
# our present evils and precipitate and
ievelop other evils of a most serious
latGre.
Second, our financial and currency
problems must be solved upon economic
ines of an entirely different character.
Il assert you cannot successfully and
'eneficially superimpose a monarchial
orm of banking upon nearly $4,000 in
ividual, independent, free banking in
which have grown up and
eveloped in harmony with the prin-
iples of our republican form of gov
ITO establish a central bank in this
ountry under existing conditions would
e undemocratic, unrepublican and un-
-merican and inimical to the general
'elfare of the people, because with
entral bank will come a most dis
ouraging and disheartening faVoritism,
ne gradual breaking down and ulti-
lately destruction of 4our purely indi-
iduaI and independent form of bank
lg.
II will meet you in joint debate upon
lie above propositions at one or more of
ur leading cities up to 100 or more
them, if you choose, at such times
nd upon such conditions or terms as |
lay be agreed upon by us hereafter"