Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1911-11-29
SPECIAL WASHINGTON CORES
PoNDENcE.
BY Clyde H. Tavenner.

The republicans are going to make
an effort to sidetrack the tai is
sue in the next national campaign
According to thoroughly relatle
formation that has gained credence II
Washington, the party's Zig ap,
peal" for support next year will be
based on the currency question. II
can be stated with certainty that az
the present time some of the repus-
lican leaders in both branches OF
congress are working on speeches The
lmport OF which will be that "Ahe
business interests will suffer as Ions
as the currency system remains as
s. now is, and that not until the re-
publicans are returned to power W u
there he hope for relief.
A modification of the so-calledf AID
itch plan will be the one on which
he administration win base it's plea
CT support. Having revived the
Tariff, the standpat leaders are now
;oing TO ask the voters OF the coun-
1y to allow the versatile gentlemen
ron Rhode Island to revise the cur.
rcncy system.
This modified plan, and the one
on which the G. O. P. intends to
stand or fall, provides fer a nation
al reserve association of 100000, 900.
NATIONAL and state banks and TRUST
companies may be stockholders in
it, in proportion to their capital
The plan provides that within a
wear the reserve association shall
take over government bonds rendered,
to it by the banks, and as national
bank circulation is possible only on
The basis of bonds, the banks would
rive up their circulation privilege as
they turned in their bonds, and the
association would acquire that priv
lege.
The reserve association would have
power to issue emergency currency,
and since the big interests would
have control of the association, they
would practically dictate the bank
ing policy of the country.
Democrats in congress, have fire.
quently pointed out the danger of
allowing the money power to he
come any more centered than it al
ready is, and the best students OF
finance in this country are agreed
that this proposed reserve associa--
tion'' would be nothing more than
money trust, whose controlling fac
;crs would be the very same men
who now dominate Wall street. The
very fact that former Senator Aid
rich endorses the scheme, these
democrats have shown, is enough to
make the average citizen Suspicious
Of it, Mr.. Aldrich has shown over
and over again that he has no inter-
est at heart except the interest of
the Big Business tyrants who already
control the industry of the country,
and who are anxious to extend that
control until it includes every line
cs activity throughout the nation.
The plea that only the republi-
cans can evolve safe currency re
form is very apt to be met with as
sertiors from democrats tn t the
republicans had plenty of time and
opportunities, to bring about the re-
form during the long years they were
in the saddle, and that they failed to
make any advance. Such efforts as
We're made along this line ty the
republicans were repudiated by some
of their own numbers, and the cry
was made in congress, not only by
all the democrats, but by some of
the republicans as well, that the
Aldrich plan was designed to give
the dictionaries more power than
they already have. Speaker Cannon
even went so far as to dethrone one
chairman of the House finance com
mittee because he denounced the re-