Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1909-10-30
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 al
dressed an open letter to Senator NeI.
son w. Aldrich of Rhode Island chair.
man of the finance commission of the
senate, challenging him to a Joint de-
pate IN one or more cities, on the sub.
Ject of central bank.
Mr.. Fowler writes that he IS onnosed
TO the establishment of central bank
under existing conditions becaso with
~ would come most dscouraging and
dlsheartening favoritism and the ulti.
mate destruction of our purely indi-
Vldual and independent form Of bank
ing. The letter follows:
just before you started for Eurone
IN August it was stated in the press
that as result of a meeting of the
monetary commission, of which Won
are chairman, central bank was to
be advocated by your commission and
upon your return from Europe you
would proceed with a view Of in.
structlng the people upon our financial
ana currency needs and recommend as
cure all central bank.
After your departure there was an
evidently inspired and well-organized
propaganda in favor of a central bank
and carried on for the pur,
pose of preparing the way for Your
homecoming and your arrangements
TO swing around the circle and initi-
ate the people of the United States into
the mysteries of your central bank
plan.
Challenge to a Debate.
lnasmuch as | 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- |
somplish the necessary reforms, but in
The end will make bad condition i'm. |
neasureably worse; therefore, in order
mat the American people (who, / know
VIII decide this most important cues.
ION now pending before them for CON |
lderation and determination right. as /
hey did that of the gold standard. if /
only they be given an opportunity of
having both sides of its fully presented
md discussed) may be informed as
Early as possible, now challenge YOU
% a joint debate upon the following
First, a central bank will not ef-
ect or accomplish the necessary reform
4 our finances and currency, is insult
ID to our conditions, will accentuate
many OF our present evils, and will pre-
lpitate and develop other evils of a
most serious nature.
Second, our financial and currency
'roblems must be solved upon economic
ines of an entirely different character.
: assert you can not successfully
nd benefcially superimpose mon
rchical form of banking upon nearly
5000 individual, independent, free
anklng institutions which have grown
nd developed in harmony with the
of our republican form of
overnment and are themselves repub-
can In form and character.
Un-American, He Says.
'fTo establish central bank in This
ountry under existing conditions would
e undemocratic, unrepublican and un-
.merican and inimical to the general
'eifare OF the people because with
entral bank will come most discour-
ging and disheartening favoritism, the
radual breaking down and ultimate ,
estructlon of our purely individual
nd independent form of banking.
81 will meet you in joint debate
pom the above propositions at one
: more of our leading cities up to 100
: more Of them, if you choose, at such {
mes and upon.such conditions or terms |
may be agreed upon between us here {
fter.'