The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-10-16
Declares 1t Embodies
Theories Of William
Jennings Bryan.
ENACTION MEANS
HE WILL TRIUMPH
Theory That United States
Should Issue Currency in the
Form of Promises to Pay Is
Populistic, and Has No
Standing in Demo
cratic Party.

New York. October 1o.-r'ormer
Senator Nelson w. Aldrich, OF Rhode
Island. tonight attacked the Wilson
administration currency bill now be
fore Congress, which he declared, en-
bodied the theories of William j.
Bryan. lie denounced the bill as un-
sound. sociaiistic and revolutionary,
characterizing 1t as IAN endeavor to
secure by partisan legislation the
triumph OF the doctrines and princi pies
which had received the repeated con
demnation of the American people Mt
the polls" lie quoted from Woodrow
Wilson's writings TO Indicate that the
President in his earlier days had err
tertained beliefs contrary TO provisions
OF the bill
IF the House bill should be enacted
into a law" Mr.. Aldrch asserted. MIR.
Bryan Will have achieved the purpose
for which he has been contending for
a decade"
Mr.. Aldrichs speech was delivered
at the closing session OF the National
Conference on Currency Reform. He
made no reference to the so called Aid
rich plan for currency reform. lie op-
posed many features OF the Glass
owen currency bill. but directed his
strongest criticism at the provision
dealing with the issue of government
notes. and providing for a central gov
ornmcnt board. with supervision over
the system a. a whole
"Extrcme PRESSURE" Says AIdrich
Mr. Aidrich said extreme pressure"
was being brought to hear on Congress
to enact the administration bill. ana
that the reason given was that the
adoption of TIE bin was necessary to
iulhi promises mace by the Democratic
party lie traced the history OF the
Democratic party's attitude on the sub
jcct.
The theory that the United States
snould issue currency In the, form of it's
promises 10 pay. declared Mr.. Aldrich
Is populistic doctrine. 1t had no
standing as a Democratic party prin
ciple until the advent of Mr. BRYAN as
us nominee for the presidency in 1895
II was injected BY Mr. Bryan into the
party platform in spite Of the protests
OF the men who had been most promi-
nent III the party councils
There has been no SUGGESTION that
an attempt was to be made TO revive
the grecnback or TO adopt in lerisla-
ton rejected theories of the Populist
party. The Democratic candidate for
.he presidency was silent upon the sub
Ject during the last campaign. and lie
had not, so far rs I am aware. IN TO
this time publicly acknowledge his ap-
proVal OF Mr.. Bryan's ideas with ref
cfence 10 note issues. The large ma
Jority OF the American people. who ia
Nor sound money, believed that the
question OF further greenbacll issues
was settled permanently by the cleo
lions OF 1856 and the following years.
Condemns Great Democrats
me speaker characterized the adj
miNtstration bills provisions for gov
ernment note issue as IAN emphatic
condemnation OF the theories OF gov
ernment and the economic teachings
or every great democratic leader from
Andrew jackson and Thomas H. Ben
ton. TO Samuel j. Tiden and Grover
Cleveland"
1t is undoubtedly true" he con
tinued. that the support OF Mr. Bryan
and his followers was necessary to Sc
cure legislation upon this subject, but
II is unfortunate that to secure this
support Ii seemed necessary to sacri-
fee the cherished principles and tradi-
tons OF great party" In the pro-
posals 10 create "A Federal reserve
board and To provide FOR the issue OF
government notes, Mr. Aldrich said. the
bill follows n plan submitted by presi-
dent Tyler TO Congress in 1871 for the
creation OF an cXchequer board. Tho
plan, he said, found no substantial sup
port IN either branch OF Congress, and
went down to Oblivion.
No Power I'm Time of Stress
The Federal reserve board provided
for in the Glass Owen bill said the
speaker. iii reality would bring about
the creation of a central government
bank. He declared the board was
given autocratic powers over business
Continued on Eighth Pagc)