New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-09
AN UNFAIR CRITICISM
Irving T. Bush Resents Reports
Against Citizens League.

Terminal Company and chairman OF the
executive committee Of the New York
state branch Of the National Citizens
League for the Promotion of a Sound
Banking System, in answer to some
criticisms and recent reports regarding
work Of the league, has issued a reply in
behalf OF the league Many members OF
the league believe that the reports infer
ring a disruption in the league over
tendency on the part of its association to
advocate the Aldrich monetary plan have
emanated from Washington The critics
suggest that the league is hampered by
/ lack OF funds and Of interest among its
members. The truth of Mr. Bush's state
ment is vouched for by other important
members OF the league, who positively
deny the reports referred TO, and declare
| that the chief aim OF the league is to con-
duct an educational campaign. Mir
! Bush's statement follows.
From the beginning the National Git
zens League has endeavored to maintain
the position that II has no selfish inter-
/ est IN advocating any particular plan of
currency reform. Any plan which will
/ place the currency laws Of this country
! upon a basis which will prevent money
panics and successfully serve the business
| interests Of the people Of this country
viii be acceptable to the League One OF
the first things undertaken by the league
was an appeal to the country 10 keep
our currency laws out OF politics and upon
non-partisan basis. 4 report Of the
( Monetary Commission was signed by all
the members. Republicans and Democrats
/ alike. and the officers OF the league believe
| that II is entitled to consideration upon a
| non-partisan basis. and that prejudice
against Senator AldrIch or any other
member Of the commission should not be
[ permitted TO obscure the real merit IN
! the recommendations of the Monetary
! Commission. The report Of the commits
/ sion may not he perfect but Il certainly
can be made TO form q basis for construc-
tive legislation. 1t is the result OF several
| years investigation and hard work md
should be judged by the people and Con-
gross on It's own merits or dement's
The league is an association Of bust
ness men, farmers and others who work.
They recognize that they bear the real
burden of panics. They do not believe
that legislation can cure the ordinary
panic due to speculation. but they
believe that legislation can enact curren-
cy and banking laws which will make
our disgraceful money panics impossible.
The officers of the league do not believe
that definite corrective legislation Will be
enacted until the people OF the country
realize the price they are paying for our
present banking and currency laws. lis
object Is 20 arouse the people of the
country TO a realization OF the necessity
for constructive banking legislation. The
league has no plan of fits own, and
wishes 10 avoid the criticisms which nee
essarily attach to an organization with
particular plan or hobby. II believes
that the plan OF the Monetary Commits
sion IS a sincere effort by the commission.
composed Of both Democrats and Repub-
licans, to suggest financial legislation
which will be Of real service 10 the people.
The general outline Of the Monetary Com
missions plan has met with the approval
Of the League. but its officers are I'm no
sense stickers as 10 details. Any other
plan which viii accomplish the same re-
suit will be equally acceptable 20 the
league. We believe that te plan Of the
Monetary Commission should be taken
I'D and thrashed out on its merits and
such changes made as WIN satisfy the
good sense OF the people.
'The burdens of panic are usually borne
by those who can least afford 10 bear
them. and il Is not fair that the great
labor OF the Monetary Commission shall
be thrown away and go for naught merely
/ because certain persons endeavor to in
/ flame the minds OF a part OF the people
against some members Of the commission.
/ Senator Adrich deserves credit for any
| suggestions which he has made, but the
1 report is not AN Aldrich plan az it is
sometimes called II IS the result Of great
labor on the part Of many Of the best
minds Of the country and II should be ac-
ceptcd, changed or rejected after calm
Judgment. It should not be considered or
discussed during this period Of national
! political campaign