The Butte inter mountain. [volume] (Butte, Mont.) 1901-1912, 1903-09-10
Beveridge Says Congress
IS Not to Enact Any
Radical Laws.
TO CONSIDER MONEY
Financial Legislation Is In
evitable, But 1t Is to
Be Conservative.
n
nv ASSOCIATED PRESS.

South BEND, Ind, Sept lo.-Thc sew
enth annual convention OF the Indiana
Bankers association was addressed today
by United States Senator Bcvcridge. Sen
ator Bcveridgc has but recently returned
from q visit 10 the president At Oyster
Bay, and his positive assertions with re-
gard 10 the action OF the coming session
ot congress were given all the more weight
He spoke rs follows:
THE coming session OF congress will
not enact sweeping legislation. Except IN
great emergencies. moderation is the word
III all financial legislation The stability
of financial legislation, even though inn
perfect, is more desirable than sudden aud
comprehensive changes. even though those
changes are toward greater perfection.
Moderate Legislation Probable
Some moderate financial legislation.
which viii relieve the periodically recur-
ring money Strnfency in the money cen
tcrs, IL probably desired aud may bc en-
acted. liut such legislation ii enacted,
will be simple IN lis nature and will not
disturb or alarm the business interests of
the country.
mo legislation Is possible Al the coming
session Of congress which will radically
effect our entire currency system and cause
the business world to pause in our present
prosperity until II is seen how such lcgis-
la'ion is going to work
The maintenance OF credit is the only
great financial question and always must
be. And credit is only another name for
confidence. Confidence IS preserved by
only n sure and permanent adjustment OF
business 10 any given lines of financial
and commercial policy more than by all
other things put together.
Must Be Steady.
u do not mean that there should nor
be gradual changes in all OF our laws,
rs these laws here and there become out
Of date. But | do mean that il is better
for business 10 steadily adhere 10 some set
tied line Of policy than to suddenly and
radically change il. Our whole financial
and industrial legislation should be steady
and not spasmodic.
Within banking circles themselves all
contention should cease. There is no nat
ural antagonism between Eastern and
Western bankers. Naturally their inter
esls are the same Bankers East and West
are the financial servants Of single people
under a single flag. There should be mu-
iual consideration, each section taking care
OF the financial necessities Of It's own peo-
pie MS long as il has the money 10 do so
and relieving the necessities Of another
section only whenever they are NOT able
10 take care Of themselves. There never
was n period when the tide Of prosperity
has risen so high as now, and It's highest
point is not yet reached.
Must Be Brave.
But upon the shoulders of the bankers
ol the country more than upon any other
set OF business men depends the eontinu-
ancc OF this fortunate condition. II, with
out reason, the bankers indulge in vague
apprehcnsons, they will themselves bring
about the very thing which they fear.
III the bankers begin to exercise cow
afdicc, instead Of patience; If, without any
reason, they begin TO contract their loans
and reduce circulation, then confidence
will be lost and the conditions the bankers
fear will come. But this will not occur.
The bankers Of the republic are too intcl-
llgeni, too brave, too patriotic"