Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1915-04-22

everywhere. AS chairman of the finance
committee in the United States Senate for
many years, MIR. Aldrlch controlled the
making of the high tariffs in the inter-
est of the manufacturers who were his
constituents, and he did the work so we'll
for them that the last tariff he made, in
1909. split the Republican party and
started the revolt in 1912 developed into
the tremendous insurgent presidential
candidacy of Mr.. Roosevelt. From that
political cataclysm the Republican party
is now beginning TO recover. but the
recovery will never go far II the Aldrich
type of control reasserts itself as STU
preme in the party leadership.
Mr.. Aldrich in his long public career
performed not a little service of real
benefit to the country and no one should
deny him credit for what he accomplish
ed as chairman of the last monetary
commission created by Congress. The
Aldrich banking and currency bill was
the product of the commissions Joint
efforts, but as chairman he deserved en-
ceptional praise for the legislative crys-
talization of many projects of banking,
and currency reform. The very name OF
Aldrich attached to the bill did kill it, how
ever, and his utter failure to hake Roadway
as sponsor for the measure doubtless
convinced him that the popular preiudiced
he had aroused made advisable his re-
tirement from public life. His name was
attached to one financial measure that
became law. the Aldrich- Nreeland emer-
gency currency act. passed soon after
the panic of 1907 and later adapted to
and in effect made a part of the federal
reserve act passed by the democratic
Congress. It's usefulness to the banks
was demonstrated last summer when
the markets became denoralized by the
outbreak of the European war.
1t Is due also to Mr.. Aldrich to point out
that the federal reserve act made law
by tho Wilson administration was based
in no small degree upon the monetary
commissions bill. The banking central
ization Of the Aldrich measure was eli
minated in favor of the regional system,
and the law as finally enacted gives the
government more control of the bank
ing system through the federal reserve
board han Mr.. Aldrich was willing to
concede. He was essentially true to
private capitalistic interests az contrast
ed with public interests in all things,
banking included. but he played a cred
liable part in the movement which re-
suited in the REORGANIZATION of the coun-
try's national banking system. even if
it was not given to him to shape the
Legislation as he had desired.
In no sense a great statesman even Of
the conservative type. Mr.. Aldrich found
congenial the Senate's peculiar methods
of doing business. and his rise to party
leadership in that body was as natural
as was that of his rival in the opposing
party. the late Mr.. German Of Maryland.
His managerial talents found full scope
in a field that made him a tremendous
political power in the last three repuh-
lican administrations. His private inter
ests and family connections had brought
him into intimate relations with the
leading capitalists and corporations of
the country. and in the heydey Of his
influence at Washington see Aldrich'
was almost a synonym for arranging a
private conference with the United States
government. 1t is to be said Of him that
he was a mar of his word, honest and
direct in his dealings with men. How
he won the confidence of so frank and
open a nature as that of President Taft
is well known. Nor can II he doubted
that his advice to the republican presi-
dents of his time was In accordance with
} MS conception or the pest interests OF
'he country
III MS ho1he H'a'e' however MI Aio-
" Wv 0n' "a
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, 49, 49,
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= 1900
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= n"t."nu !" ,"e 80
-" V" p
!, special conditions afforded except'oha
: opportunities Tor political corruption u
flourish. An extraordinary ccohoihi'