Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1913-10-16
Former Senator From Rhode
Island Declares Principles Of
William j. Bryan Are Con-
trolling Administration,
GREENBACK THEORIES
ONCE MORE TO FRONT
Of Bank Note Issue Is
Attacked by Author of For
mer Plan for Reforming
American Finances,

To-, voastsa Ioua.st srsc,st ,t.sto wtssI
Sow Nurk oct 15 Former Sena-
iur Nelson W. Aldreh. of Rhode lsl-
uud. Tonight attacked Che Wilson ud-
mnIsHauon currency bin. now before
ponprpss. which Doe declared embodied
the theories of William j. Bryan lie
denounced tho bin aa unsound, social
Istic and revolutionary, chomcterzng
be- .us au oudpaFur Go secure, by part-
sam legislation. the triumph of the
doctrines and principles which had re-
ortoI the repeated condemnation Of
the American people at the polls
Ile quoted Woodrow Wilson, writ
mls to indicate that the president IN
Dis earlier DAYS. had entertained be-
uefs contrary 90 the provisions Of the
btI
If the house bin should bee enacted
into low.' Mr Aldrich asserted "Mr
rmu would achieve the purpose for
which hc has been contcnding for "A
Uttuuc."
Mr. Aldrch's speech was delivered
ut the closing session Of the national
conference ON currency reform. lie
opposed many features of tho Glass
owen bW but directed his strongest
criticism at the provision dealing with
tho issue of government notes and pro-
vdmg for central government board
with supervision over the system as
whole lie made no mention Of the
so-oulled Aldrieh plan.
"Thc proposals with reference TO
note issues" said Mr. Aldrich, ARE
at variance with the accepted canons
Of economic law
20 believe lt viii be found that there
is mo- substantial limitation upon the
amount Of notes that can be issued
under the house bin, except in re-
for reserve
Mr Adrich said that extreme pres
sure was being brought 70 bear upon
congress TO enact the administration
Bin
'Thc theory that the United states
should issue currency in the form Of
its promises 10 pay declared Mr. AID
rich, "is "a populistc doctrine It had
no standing as a. democratic party
principle until the advent Of Mr.
Bryan into the party platform In spite
Of protests ana against the votes OF
men who had been most prominent in
the party councils. men who advo-
Gated loyalty to the policies and prin-
ciplcs 20 which the party had adhered
its existence
"There had been no suggestion that
am attempt was to he made TO revive
the erecnback heresy or to adopt in
legislation the rejected theory Of tho
uopulist party The democratic cam
lldate for the presidency was silent
upon the subject In the last campaign
lud 20 far as I am aware up to this
lime. hc has not publicly expressed his
approval Of MI Bryau's ideas with
reference to note issue. The large
majority OF the American people who
favor sound money believed that the
question Of further greenback issues
yas settled permanently by the cleo
ions af 500 and the following years.
"Thfs is think he said, the first
Ittempt 10 give government board
he right to manage great business
"Hl' ID I7 lh'I' IIiP"Il"H' ~ ''' iH''
mate relations to all the people than
Iny other II the attempt " success
uI it Wll Doe the first ana most I'M
'otiWt step toward changing our
mm of government from democ-
aey 60 an autocracN No imperial
government i'm Europe would venture
y suggest much less enact leslsla-
Ien of This kind
The creation Of this bourd ls clear
5 10 favorable response To soclalistic
Icuauda"
Mr. AldrIch quoted from writings
f Woodrow Wilson in his earlier days
u extract in which he said
comfy % great commanding bank,
Vclyahcre known whose notes really