How did The Commoner and Roswell Daily Record describe the 1908 Vreeland, Fowler bills?

"Likewise, the bills introduced by Mr. Fowler, chairman of the House Banking Committee, were founded on the same general principle, although differing from the other plans in simplicity and in the means for carrying out the change from the old to the new system."

"Finally the panic of 1907 pricked public feeling into a demand for additional legislation on banking; and the politicians became firmly convinced, especially in view of the coming presidential campaign of 1908, that this public opinion must be satisfied by some kind of legislation. The consequence was the Aldrich-Vreeland Act (H. R. 21871) of May 30, 1908."

"The consequence was the Aldrich-Vreeland Act (H. R. 21871) of May 30, 1908. It is a curious compound of conflicting views, compromise, haste, and politics; but it is now the law of the land, and its provisions ought to be submitted to careful scrutiny."

"in the bill drawn up by the Currency Commission of the American Bankers’ Association, in the early part of 1908, and presented to Congress, all the essential features of the Monetary Commission Bill of 1898 were included; although the later bill was advisedly meant to be only a transition measure, and retained a partial bond feature as a compromise."

"To reach a compromise in Congress the Vreeland Substitute Bill introduced by Representative Edward Vreeland of New York replaced the Fowler Bill."

"The Vreeland Bill authorized national banks to issue asset-backed currency, but only as an emergency measure, not as a general practice."

"The first was the Fowler Bill, introduced by Representative Charles Fowler of New Jersey (Chairman of the House Committee on Banking and Currency) in 1908. It provided for an asset-backed currency backed by bank assets like promissory notes, but it also provided for up to twenty regional redemption centers for national bank notes."

"Fowler’s attempt to include a guarantee fund based on a 5% percent tax on national banks’ deposits to insure the notes of failed banks only inflamed the debate (McCulley 1992, p. 153; Livingston 1986, pp. 180-81)."

"The Vreeland Bill and the Aldrich Bill were combined to produce the famous Aldrich-Vreeland Act in May, 1908. It created banking associations of national banks that could issue a taxed, emergency currency backed by the deposit of either bonds or commercial paper. An asset-backed currency had finally appeared in the US, although McCulley makes it clear that Sen. Aldrich managed to restrict the use "

"A one-issue campaign for this year's presidential contest is the idea of Chairman Fowler of the house com committee - mittee committee on banking and currency. He does n.ot believe in splitting hairs and dividing strength, but would have the republican party determine definitely and emphatically to make the financial question the dominant issue of 1908 as it was in 1896."

"He recognizes, however, that the cur currency - rency currency measure which he favors is scarcely likely to be enacted into law at the present session. It is undoubt edly true that his credit currency plan has grown in popular favor but. it is also a fact that far from a ma majority - jority majority of congress 'arf'e ready now to support it."

"Former Secretary Lyman J. Gage, whose administration of the treasury department 'brought great credit to him an.d to the McKinley administra administration, - tion, administration, has developed a deal of opposi opposition - tion opposition to the measures proposed by Senator Aldrich and is, himself, ar arguing - guing arguing against it. He believes that a credit currency plan, such as Mr. Fowler"

"We oppose the Aldrich bill and the Fowlerbill, and believe that, in insofar - sofar insofar as the needs of commerce re require - quire require an emergency currency, such currency should be issued and con controlled - trolled controlled by the federal government"