The Montgomery advertiser., 1909-10-25
DEBATE
 WITH ALDRICH Representative Fowler 0ppe-
 ses Cenhal Bank. CHALLENGES FATHER OF IDEA Asks Diyisisn sf Tine h Many
 American Cites. Prsnine.t Financsal Expert Declares Prs,ssea system was Exploited
 Durins AIarseh's Absence to
 Pave Way For "swiss Around The Circie.s

Elizabeth, N. J.. Oct. 2l--charles N. Fowler. Congressman from the Fifth New Jersey District and former chair man of the House Committee on bank ing and currency today, addressed an open letter to Senator Nelson W. Aidrich of Rhode Island. chairman of the monetary commission created by Congress and also chairman of the finance committee of the Senate, chal. longing him to a joint debate In one or more cities on the subject of a cen tral bank.
 The letter follows in part:
 Just before you started for Europe in August 1t was stated in the press of the country. that as a result of meeting of the monetary commission of which you sare chairman, a central bank was to be advocated by your commission and that upon your return from Europe. you would proceed to visit various cities in different sec tons of the country with view or instructine the people upon the finan- cial and currency needs and recom- mend as a cure all central bank. Y
 After your departure there was an evidently inspired and we'll organized propaganda in favor of-a central bank conceived and carried on for the pur- pose of preparing the way for your home coming and your arrangements to swing around the icrcie and initiate the people of the United States into the mysteries of your central bank plan.
 'Inasmuch as am convinced that the one thing above all others that this country does not want is 6 cen- tral bank because 1t will not effect nor accomplish the necessary reforms, but in the end will make bad condi- ton immeasurably worse. therefore in order that the American people fwho I know will decide this most impor- , tant question now pending before them for consideration and determination, right, as they did that of the gold standard if only they be given an op. portunity of having both sides of 1t fully presented and thoroughly dis cussed) may be Informed as early as possibly---I now challenge you to Joint debate on the following proposi- tions:
 "First, a central bank will not ef- feet or accomplish the necessary re- forms of our finances and currency; it is unsuited to our conditions; will accentuate many of our present evils and precipitate and develop other evils of a most serious nature.
 Second, our financial and currency problems must De solved upon economic lines of an entirely different character.
 "I assert that you cannot success fully and beneficially superimpose monarchfal form of banking upon nearly 25,000 individual independent free banking institutions which have grown up and developed in harmony with the principles of our republican form of government and are them- selves republican in form and charac- ter.
 'To establish central bank in this country under existing Conditions would be un-democratic and un- republican. un-American and inimical to the general welfare of the people be- cause with central bank will come most discouraging and dishearten- ing favoritism, the gradual breaking down and ultimate destruction of our purely individual and independent form of banking.
 'T will meet you in joint debate upon the above propositions at one or more of our leading cities up to 100 or more of them If you choose. at such times and upon such conditions or terms as may be agreed upon by us hereafter"