The Bridgeport evening farmer., 1913-06-26
The Proposed New Currency System Ii Is to Be Under Public Management,
 As the Finance ofa Nation Should Be

 Bank of the United States. This bank was the fiscal agent government, and had the closest relationship persons for private profit.
 Its charter about to expire, and Jackson fought successfully against the renewal of the charter. As of e.conseqences that old fight from which Jackson won great reputation and undyng fae the present na 4onal banking system was ultimately born This system though sadly limited served the country we'll though thought have long perceived that some 1nodica tons must be in the direction of centralized
 The character Of this control has been the rnooted point What should be- private public, anlxed con- trolq
 The great Wall street fnanciers have desired, most naturalIy private control ad if with regard to public opinion they obliged to have public scrutiny and they desired to make it as ting and nef-
 There representing the government in fherectorate bank of the United States but Jack son discovered he made the truth known to the peo- ple that these directors either committees ata afterward when public outcry over tee and kept from the committee which did the real or % of me me n r aT aer 1na1 sne vepersons who made reports to the body of the d rectorate Thus the directors were compelled be dummies and of the others dummies by
 eotla4 mere representation on the board of 1latoral banking management is not necessaT1ly cient to insure that public control which is so necessary and desirable, in such institution
 There can be little doubt that President WiBo1axnd Glass of thecomitee banking, have the hstOryaof the Bank of the United States in mind in
 This bill avoids the great central bank heEssalaok son dislked as private ban and would nave regretted under the general management of board to be designa ed entirely by public authority and to be responsible to public authority alone
 It must not e forgotten however, that Jackson at the of his first gral message willing to ac cept central national ban should it be entirely under public control though the agitation against the bank proceeded he became tenSely commit ted to a decentralized system.
 The Wilson currency bil for it is entitled to the Presldet name appears 70 pc oI the type Wnacn Jack would have approved and that is well enough fa1 as it goes.
 TRe important question that relating to the service he OSad lIoiVn OG3yk
 It would appear if the change might be entirely beneficial more study of the details of the bill and especially the shape in which it will finally ist law must be known, before sound opinion be passed
 Certain objections are urged to the measure wIicI would seem to be in it's favor The great New York bankers do not want it. it is said unless privately managed
 It is also said that MT Bryan had part formulat ing the bill This is certainly not objection to it. bu guarantee that honestly drawn with expertness
 Mir Bryan, more than any other statesman in th' world, is authority the currency Whether no have agreed with his views upon silver coinage, millions have it must admitted that in publ life has given longer attention this subject thar standpoint of him who desires to benefit the public ans since he is of very unusual intellect it is reasonabl to suppose that he is exceptionally qualified to assist the preparation of just auch legislation
 There-ought to be doubt that he has assisted MI Bryan the platform of the Democratic party. Tn bill is effort to complete the promise of the platform By this fact alone rBryan is constructively actve parent to the m and that will commend it thousand who obliged legislation on authority
 This ought to make it easier legitinlaf enterprise to receive credit and ought to free prise from socaed currency srngencies and the evil feet of Wall street panics
 It attempts directly to facilitate the flow of credit the agricultural industries and encourages in large de gree the discount of commercial paper.
 It needs little Knowledge, and imagination to per cefve that it great difference country whetk the government private financial institutions courage as principal duty the extension of credit upo