Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1909-12-16
Is 1T OF use TO The EXPANSION
OF commerce?
is II FOStered by Hone Sty, or Is II a
Scheme by Wall Street Gamblers?
II Does Not fit American InSti.
tutiOnS. II Will Mean Money
Tyranny.

The people have another fight
ahead. The financiers have decided
that they can coerce congress into
creating central bank to manage
the governments money matters, and
they are going to make the effort.
Possibly the presidents advocacy OF
it may explain the sudden collapse
of Wall Streets opposition to. Mr..
Tafts nomination. At any rate the
Napoleons of finance are not willing
to risk delay-the next congress may
be democratic. And then there will
are likely to lessen Wall Streets con-
troll of that body Now is the time,
they think, and the acquiescence Of
a majority Of the republicans in the
Aldrich plan leads them to believe
that the rank and file OF the repub-
lican party will tolerate anything.
But they
But will they?
The Standard Oil trust lost it's tar
iff on Oil and the steel trust came
near losing it's tariff on iron ore. The
new elegraph-telephone merger is
giving the people shock, and the
demand for a ship subsidy is MAX
ing them sit up and take notice. This
may not, after all, be an opportune
time to launch a gigantic bank mo-
nopoly
Senator Aldrich has had his swing
around the circle and met the To-
cal financiers who hope to represent
the bank in their respective COM
munities, but what about those who
will be left out in the cold?
A. central bank does not fit into
out institutions; it is a foreign idea
and can not be brought into harmony
with our instincts and business
methods. 1t would destroy all indie
pendence in the banking world. In
Canada they have branch banks but
thev have number of them and
competition still exists, but even
there the business man suffers an IN
convenience in having to have his
paper passed upon by an outsider and
the depositor runs the risk OF having
his money used to build up some
other community. With a great CEN
tral bank all competitors would be-
come timid lackeys, afraid to o11end,
to say or do anything that would
displease the officials of the big bank.
With a. great central bank the money
would be gathered up at the eXtrelnl-
ties and poured into the commercial
centers. The depositors would soon
find the interests reduced on de-
posits and the bank would increase
it's profits from both repositorand
borrower, for there would be no COM
ietitor who would dare to pay more
or charge less than the central bank
dominate but it would control poll
tics as well. Uick Bidwell told Presi-
dent Jackson that it could elect or
defeat presidential candidates ana
the hero of New Orleans replied with
an oath that if it could it had more
power than it ought to have ana
more than he was willing for 1t to
retain.
If central bank is created it is
only a question of time when its ty-
ranny will become unbearable. But
why invite such condition?
Now is the time to fight the CEN
trail bank idea; every newspaper
should warn it's readers; every voter
should write to his senators and
member of congress protesting
against the whole scheme. The
smaller banks should array them
selves against it. The advocates OF
the central bank are using the cor
poration papers to mislead the read
ing public; it is high time that the
patriotic forces were aroused to the
danger. The plans of the bank mo-
nopoly must be defeated.