Bisbee daily review., 1909-10-09
SMALL BANKERS OPPOSE ALDRICH
 CENTRAL BANK
They Fear That Proposed in-
 Stitution Will Be a Political Proposition and Win Be
 Manipulated by Wall Street
BY Tax.l

By Tay9
 NEW YORK. Oct S.-Wlu Senator Aldrich succeed in establishing a ceu- tral government bank?
 If he dees succeed it promises to be in the face of almost as much o.- position as when he revised the tariff upward
 The small bankers of the country will fight him to the last ditch. They fear first: that the proposed instita- tioD EHl be a political proposition through and through and will be manned and manipulated by Wall street politicians whose interests are constantly being served by Boss Aid rich; second that central bank would give the big Wall street banks more absolute control of the cur TePcy supply of the country than they now enjoy.
 There or. also a large number of big independent banks throughout the country which will oppose the central bank idea When the central bank was first proposed a Washing ton newspaper sent out a number ot inquiries to enst t,rn banks. This was one of the questions asked: Are you in favor of the establishment of a central bank as a means of prevent ing stringency in the currency" Forty-eight banks replied that thy were hostile to the measure. twenty nine approving it. ..... -....,.-.
 When President Taft endorsed the Aldrich program for a central bank he was expressing the sentiment of the -Morgan-Wall street .i nancial houses.
 When it is understood where tae idea of central bank for the United States was conceivod it is not so su"- prising that the monetary commis- sion of which Aldrich is the chairman should be reported in favor of tine project
 The idea originated at a meeting or the New oYrk Chamber of Commerce a Wall str ct institution through and through The most enthusiastic work CTS for the project are Frank A. Van derlip vice president of the National City Bank of New York, (the big Standard Oil bank): Vim. A. Nash, president Of tho Corn Exchange iIas tionaI Bank of New York, Wall street institution, owning twely branch banks; and Jacob H. Schiff, oi Kuhn Loeb 6 Co, of New York. a house that figured in many of the Hartman deals.
 President Taft did not put over a scoop when he O. K!'d the central bank in his western speech. Wall stre-t preceded the chief executive iH o. King the project as is evidenced by the following dispatch which was sent out of Washington in April i've months previous to the time the pres ident publicly endorsed the central bank:
 According to worthy information that has just ben received here in the national capital from Vail street New York, the currency commission appointed by President Roosevelt to reorganize the monetary system of the nation will report in favor Of 2 central gov. rnmeHt bank.
 Wall street has endorsed such an institution as medium through which may be secured the elastic currency which was so much talked about during the discussions in con gress a year ago last winter.
 Through positions as chairman Oi the finance of thrs national monetary commission. and his close allegiance to the Cannon-DalzeT element in the house of representatives, Mir. Aldricf gains power that is so absolute he caI dtfS public sentiment when 1t pleases ifin
 Close observers see only one weai spot in Aldrich's unlimited domina ton of congress. Representative Fcx Ter. chairman of the committee or banking and currency of the ilou5s o representatives has shown a disposi