The weekly Republican. (Plymouth, Ind.) 1911-1922, 1912-02-15
EXPRESSIONS FROM MANY
Banking Reform Urged By Men Of
All Parties Roosevelt,
Taft, LaFollette, Clark
and Bryan.

Governor Woodrow Wilson's state
ment that monetary reform is the
greatest question before the people
today" but repeats what President
Taft said In a recent address:
"There is no legislation-I care not.
what it is-tariff, railroad, corpora
ton, or of a general political char
aeter, that at all equals in i'm
portance the putting of our bank
ing and currency system OF
sound basis Colonel Roosevelt,
when In the White House, repeated
ly urged upon Congress the necessity
of this legislation, and the "0ut-
look' recently strongly endorsed the
report of the Monetary Commission,
and asserted that the time for
definite action by Congress had now
arrived.
While the national leaders of the
two great parties by no means agree
as to the details Of a banking re-
form bill, they do agree that the
need of reform is urgent, and that
it should be discussed as a business,
and not as a partisan, question.
Col. Roosevelt, in a message to
Congress, Immediately after the
1907 panic, said: sit must never
be forgotten that this question con-
Germs business men generally quite
as much as bankers; especially is
this true of stockmen, farmers, and
business men in the West; for at
present at certain seasons Of the
year the difference In interest rates
between the East and the West
is from 6 to 10 per cent, whereas
in Canada the corresponding differ
ence is but 2 per cent"
Governor Wilson, speaking in
Newark from the same platform as
former Senator Aldrich, q few
days ago, said: "'This country suf-
fers from crises Of q character
which no other enlightened country
suffers from; one Of the reasons it
suffers is because of the most un-
scientific system of currency which
it has. This question lies very near
to the prosperity Of the country"
Governor Wilson, while not giving
his approval to the bill now before
Congress, plainly stands for banking
reform.
Senator LaFOllette, while at
lacking the Monetary Commission
plan, urges the necessity of reform
legislation. He says: Elasticity In
our currency is imperative, and
must be brought about, but any
plan to achieve it like that Of the
proposed National Reserve Associa-
ton, which puts control In the hands
of the banks and moneyed interests,
will strengthen the power of the
trusts to get capital and keep COM
petitors from getting it. Any such
plan must be controlled by the
people"
Speaker Champ Clark approaches
the question with open mind. eff
the Aldrich plan Is good" says he,
careful study will demonstrate it.
If it is bad, study will prove it. 1t
goes without saying that something
ought to be done to add the ele-
ment of elasticity to our currency
system. A man doesn't have to, be
a financier to understand, that; but
In order to secure the needed eIasti-
city, we do not have to, rush into
the adoption of any scheme which
is presented for our consideration.
Every scheme proposed should be
thoroughly scrutinized and sub
mitted to the ordeal of the eross-ex-
animation of its proposers.Y ease
Mr.. Bryan, of course, is unafter-
ably opposed to- the National Re-
serve plan. He sees in it only an
[other move of the money trust" to
get. strangle hold on the people.
Governor Harmon and Mr.. Under
wood are withholding their views.
1t is plain that banking and eur
rency reform. is. to be q paramount
issue In Congress. no matter who are
nominated to lead the Republican
and Democratic forces, and no mat
ter which party wins the battle in
Novemhor