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Show New York. Feb. 16. "Lot us u not tempt a restless people by a 1 deliberate act of congress centralizing j financial jKjwer In a single city," said Italic M. Shaw, formerly secretary f Hie treasury. In a speech tonight bi fore the financial firnm at the west sld- V. M. r. A. Arguing apaln&t tho establishment of a central bank. Mr. i-haw old i:, part: "Adv. rates of the central bank never fail to emphasize the Import- i ence of keeping such an Institution , out of politics and out oi Wall street. Ity so doiDg they hope to dispel in impression that the very purpose of the central bank h to centralize flnan-cilI flnan-cilI power In Wail street. "In a r.'crit speech made i.i tlii city ly the rha'rinan i t the comrniticv on bin Liny and currency It w .n I Ha'.e.l that tho bill wou! 1 limit dlvi- j j Ciencis to tour per cent aud expressly I provide that the capital s'.ock be i-Wiied by i,ank throiiihour the country coun-try . iv. n. r i b 1 1 on the part of national bii:ik to lui made compulsory. ' lr the dividends are b be limited to four per cen: I think there 13 no Hicn; inttrct In New York that wl'l object lo the stocks beiiiR held In the ct.ontry anil If It be held in the ronn- 1 try and tcat rej anions the national I li.ks hon.cwhat in proportion to tlo-lr. c?i 1t.1l c. irol by the affiliated Interests Inter-ests of New York would be assured. "There Is no way by whtch control can be obtained and retained with such cer alnty as to place the owner- 1 ship of th- stock In the country in correspondence with the b!g city baiili?. Where will their proxies bo sent if not to their city CfiTcspon- ! dents? "It -. omuls well and . may deceive the tbou'jht'.ca-", but tbe plan was worked out by the thoughtful. "It was further stated that the board ft diif-etnra won id bi 1 1' rr 1 1 j . 1 to rco-?r.ih!e:! rco-?r.ih!e:! i!l Ijions so that each por-lii por-lii 11 0. the country would Lavo representation. repre-sentation. This ought to insure a local executive committee lo manage thr bank wlthu'i: much interference I mm the titer llj states. "I am 'anri-.cd that large financial ifterefts should fevk this unnecessary eentrallzatlofi. I share In part the pnpular prejudice against lower money. mon-ey. I would as so li place the rov-cinmeiil rov-cinmeiil ol the llnltf j States under tin- ciletafoi-.s'iilp of John I). Kocke-leller, Kocke-leller, .1. P. M.-.rRan .r K. H. Harrl man In his time as under the dictator-thlji dictator-thlji of Theodore Roosevelt. W. II. Taft or William J. Uryan. One grmjp ir. us unselfish as the other. One group loves power no better tha-.i the other. "I belieie In three co-ordinate branches of government and I di not believe in any of thee branches controlling con-trolling or seeking to control by coercion coer-cion or otherwise- cither of the other two. I am opposed to centralization, IK'lilical as well as commercial. "I repeat, It surprises me that the largo Interests should now seek a central bank which must of necessity intensify prejudice. The south al-leady al-leady believes that New York city controls the price of cotton With a central bank the larye Interests of New York city can control not only the price of cotton, but the price of every other commodity. Clothed with such power, should a long period of i-'Kunation be our future lot to what unjust and unmerited criticism may they not be subjected, and what dire calamity may not be precipitated upon its- all in a misrulderl desire to get revenge on a few? Would tbe central back be out of 'politics then?" |