Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-11-22
BANKERS FOR ALDRICH PLAN
President Watts Says it Can Be En-
acted if Kept Nonpartisan.
NO PARTY PRINCIPLE INVOLVED
-Four Thousand Bankers Cam, keen
Question Out of Politics IL
They Earnestly strive
20 DO SO.

NEW ORLEANS, La, Nov. 2L-If the
proposed plan for the reform OF the ctr
rency and banking system OF the United
States be kept nonpartlsan. its enactment
into law will be an easy Accomplishment.
And it could be kept q nonpartlsan issue,
IL the 1000 bankers here would work zeal
ously TO that end upon their return home.
So declared r. o. Watts, president uf
the American Bankers ASSOCIATION, IN ad-
dressing the convention OF its members
here today Mr. Watts strayed, ne said.
from the beaten path OF precedent. TO ais
cuss the theme which has bce1 made the
keynote of the convention proceedings.
Surely there is no good reason why
the question should bee )me DartlsJn
one" he said. There is 40 party prime
pie involved in such cooperative agency
and nothing but prejudice Or the eNtrem-
ity for an issue, which certainly does not
exist in this day, could cause either OF
the two great political parties TO treat
the subject differently from what they
should proposals for good health or pure
food. or river improvements or the build
ing of a great canal. N by any -hance
lit drifts unavoidably by the bankers and
business men into a partisan alignment,
the only hope OF making 1t an effective
| issue to the party opposing the Tlan
would lie in It's ability TO appeal 10
preiudiee through talk Of Capitalization
and control by special interest. Neither
propogition could be maintained before
the Thoughtful citizenship Of this coun-
try. and when the light OF reason en-
tered. the party making such an appeal
would suffer as such parties have always
suffered in the past.
Really Means Decentralization.
I'VE can show that instead OF beins
Capitalization the proposal is decentrahz-
alton, the power coming 20 the centrol
lagcncy for all banks in just such way
as the power Is placed IN the CHIEF eNecu-
tive Of the nation. The president becomes
tho composite of American ideas ana
when not so, there occurs shifting OF
authority. SO the Central Reserves asso-
citation would always be the composite
OF the shareholding banks, and, therefore
standing for the best In our business lie
The currency commission and Officers
of your association have been In num-
Der OF conferences with the chairman and
members OF the National Monetary com
mission, and those having the responsi
bnlty of forming a plan showed remark
able willingness TO hear and adopt any
suggestions tending 10 keep the contro
away from speculative marts, keep q
apart from political control or prevent
its being at any time "a political Issue
keep the investments OF a character tina
would make any control OF little Yalui
compared TO such an outlay as necossarl
to acquire II.
All Arc NitalIy Interested.
Undoubtedly those interests which. ac
cording TO passing speech and hurrie
composition, are designated as Wa
street favor the National Reserve asso
cigtion or any plan OF monetary reform
making for stability and prosperity ant
relieving the best bankers OF New Yor
from the great strain OF crop movement,
trade expansion and Lanics. Passing IN
relatively small number of stock gam
blers sround Now Yorks stock ex
change VIC find there banks, busines
houses. Industrial and railway corpora
/ Loas vltaily interested IN every sectio
OF the country and who have learne,
/ frnvtf,u.a "a, gr,,r.r Do,