The Washington times., 1910-09-26
CENTRAL BANK PLAN
SCORED BY FOWLER
New Jersey Representative
Says Wall Street Is
Baked.

NEW YORK, Sept. 2s.-WaU Streets
most desperate scheme for obtaining a
! throat-hold on the Federal Govern
meit-the central bank with stock con-
trOIled by the interests-Iaas beer. baked
with the passing Of Nelson W. AIdrfch
from the Senate. in the opinion OF Rep
Tesentative Charles y. Fowler, Repre-
sentative Of New Jersey.
In 2 remarkable exclusive interview
Fowler, anti-CAnnOnite, expert on hnan-
cial legislation, and New JERSEY Sens-
torial prospect. declared that the cen
tral bank plan is dead. and the none
tary commission created 10 deceive the
people is doomed.
Undoubtedly we are now d71e for a
period Of thoughtful consideration Of
the financial and currency problem. %
said Fowler, and I an firmly Of the
opinion that there car be and viii be
but ole result 70 this more mature ana
ripper thought Of the country.
The unfortunate character % the
monetary commission, which waz not
selected with view OF taking adva1-
tage OF the best thought OF the counrr--
but for the specific purpose OF. ca-rvin.z
out a preconceived program. viii res7,r+
n 4 most unfortunate delay in final
legislative action
Schooling Was Necessary
Man for man the individual neubs-s
Of the commission, from its chairman
TO its secretary, had no previous .equip-
ment and therefore summer schools and
night schools. trips abroad and at home
have become essential to their D-fr,ar-
financial education
Through a false pretenga o., fhe -s-+
Of Cannon and Aldricn. FOR the r7r--,oee
OF covering Up the{r uIterior motives
under the claims Of protecting the dig
nifty OF the Senate ana the House the
law was so framed that the commission
appointments were confined TO the mem
bershiD Of Congress.
of the nine members Of the Senate
two alone will remain after March
In the House there viii probably be I've
OF the nine remaining 70 recall the Incl
dents Of the past two years.
As distinguished from such 2 com
mission. evidently packed for some spe-
cial purpose. I sought TO combine y-i-E,
legislative ability schcla-shi1 s-7 80 -
TeSentatiVe business men ny nv Lf1r
which was stified ard which rrcyilIeJ
LOT a commission Of eleven uembers ~
me House. eleven Of the Senate 80
thirty--oue citizens TO be named bv 80
President
Baked By Cannon.
But Aldrich and Cannon did ro+
want this sort Of action because thew
couldn't COnsUmmate their purpo=s
Whatever Il was through IT, The-a are
those who claim that purpose was 10
perpetuate the AIdrIch- Vresland hin
which, for profound ignorance and eco
monte stupidity, IS probably without
parallel IN the whole history OF eco
nOrlic legislation
Then there are those who believe
That the purpose was the organization
OF central bank 10 be used and prostf-
tuted for special purposes and special
interests, no regard being paid to the
interests OF commerce. labor and tbe
general welfare OF the public
Whatever the scheme or pu-nosa
ga the awakening Of the American
'. science IN all lines Of civic d7lrv hss
co. le athWart the pathway Of these two
PIE 1lpotentiaries Of special Interests
10: eph G. Cannon and Nelson W Al
cFlcn- VINO are now regarded throuEbout
the country as political pirates and
arch-eneTnles Of the people.
I think II IS generally conceded nov
that The central hank idea is abort as
dead as the monetary commission
which is now matter OF history and
little more than an unpleasant recol-
lection