Omaha daily bee., 1909-10-25
FOWLER WRITES TO BLDRICH
New Jersey Man Wants Joint Debate
on Central Bank Question.
NEED INFORMATION
He Says Proposed PIan is Unamer-
lean, and that Both sides
should He Presented
at once.

ELIZABETH, N. j., Oct. 24-Charles N
Fowler, congressman from the Fifth New
Jersey district and former chairman Of
the house committee on banking and cur
rency, today addressed an open letter. to
Senator Nelson w. Aldrich of Rhode Island
chairman of the monetary commission Gre
ated by congress and also chairman OF the
finance committee Of the senate, chal-
Ienging him to a joint debate in one OF
more cities, on the subject Of a central
bank.
In the letter. Mr. Fowler says he is
opposed to the establishment of central
bank, under existing conditions, because
he believes with II would come most dis
couraging and dlsheartening favorltism
and the ultimate destruction Of our purely
Individual and independent form of bank
ing. The letter followsi
Just before you started for Europe in
August it was stated IN the press of the
country that as a. esult Of a. meeting Of
the monetary commission. OF which you
are chairman, a central bank was to be
advocated by your commission, and that
upon your return from Europe you would
proceed with a view of instrncting the
people upon our financial and currency
needs and recommend as a cure-all' a
central bank. "4
People Need Information.
After your departure there was an evil
IDENTIFY inspired and well organized propa-
ganaa in favor OF a central bank conceived
and carried on for the purpose of prepar.
ing the way for your Homecoming, and
your arrangements to swing around the
circle and initiate the people Of the United
-
bank plan
'Inasmuch as I am convinced that the
one thing above all others that this country
does not want is central bank, because
1t Will not effect nor accomplish the neces-
sary reforms. but. in the end, will make
bad condition immeasurably worse, there.
fore in order that the American people
(who I know will settle this most i'm
portant question now pending before them
for consideration and determination, right
as they did that of the gold standard, II
only they be given an opportunity of'having
both sides of 1t fully presented and thor
oughly discussed may be informed as early
as possible. now challenge you to joint
debate upon the followingNproposltions
First, central bank win not effect MOI
accomplish the necessary reforms OF our
finances ana currency IS unSulteu 10 our
conditions; will accentuate many of our
present evils and precipitate and develop
other evils Of most serious nature.
Second our financial and currency prob
lens must be solved upon economic lines
Of an entirely different character.
Calls Plan Unamerican.
II assert that you cannot successfully
and beneficlally superimpose a monarchical
form OF banking upon nearly 5000 indi-
vidual, independent free banking institu.
tions, which have grown up and developed
In harmony with the principles Of our re.
publican form Of government, and are
themselves republican in form and charac.
ter.
ITO establish a central bank in this
country under existing conditions would be
undemocrauc, unrepublican, unamerlcan
and inimical to the general welfare of this
people, because with a central bank will
come a most dlscouraging and dishearten-
ing favoritism, the gradual breaking down
and ultimate destruction OF our purely in
dvidual and independent form OF banking
Il 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"