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Nelson Wilmarth Aldrich

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ALDRICH, NELSON WILMARTH Ameri can politician, was born at Foster, R.I., on Nov. 6, 1841. His first political service was as a member (1869-75) and president (1871-7 2) of the Providence common council. He was a mem ber of the lower house of the Rhode Island legislature in and speaker in the latter year. By this time he had become very influential in Republican State politics, and in 1878 and again in 188o was elected to Congress. In 1881 he resigned to take a seat in the Senate, where he served continuously for 3o years. By reason of his mastery of parliamentary detail and his skill in bringing about combinations of opposing groups, he became one of the most powerful leaders of the Republicans in the Senate. He was an able champion of protection and an authority on finance, and his knowledge of these subjects was embodied in various tariff and currency enactments. He sponsored the Aldrich-Vree land currency law of 1908. As chairman of the national monetary commission, brought into existence by that Act, he directed ex tensive investigations of the banking systems of the world. He published a scheme, based on the information thus secured, for the reform of the American banking system known as the Aldrich plan. He also was largely responsible for the Payne-Aldrich Tariff Act of 1909, which, by reason of its high rates, aroused much opposition, especially in the agrarian districts. Because of his extensive personal financial interests and his intimate connection with powerful financial groups, he came to be looked upon as the special representative of the moneyed interests and of the highly protected industries. He died in New York city on April 16, 1915.

reason and powerful