Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-09-10
BEvER|DCE ON
FINANCE LAWS.
Moderation is the Word and There
Will be No Radical Legis.
latiOn Now.
RELIEF IN STRINGENT TIMES.
Although Changes May be for the Bet
ter They Must be Made Gradually
To Preserve Stability.

South Bend, Ind, Sept l0.-The sew
enth annual convention of the Indiana
Bankers association was addressed to-
day by United States Senator Beyer-
idge. Senator Beyerldge has but re-
Gently returned from visit to the pres
ident at oyster Bay and his positive
assertions with regard to the actions OF
the coming session Of Congress were
given all the more weight.
MODERATION is THE WORD,
1.-THE coming session of Congress will
not enact any radical or sweeping fl
nancial legislation. Except In great
emergencies moderation Is the word In
all financial legislation The stability
of financial legislation even though i'm
perfect. Is more desirable than sudden
and comprehensive changes, even
though those changes are toward great
er perfection.
RELIEF IN sTRINGENCY.
Some moderate financial legislation
which will relieve the periodically re-
curing money stringency In the money
centers Is probably desired and may be
enacted. But such legislation, If enact
ed is probably desired and may BE- on
acted. But such legislation II enacted
will be simple in its nature and viii not
disturb or alarm the business interests
of the country. No legislation Is pos
sible at the coming session Of Congress
which will radically affect our entire
currency system and cause the bust
ness world to pause in our present pros
perity until It is seen how such legs-
latlon is going to work.
MAINTAIN CREDIT
"The maintenance OF credit Ia the only
great financial question and always
must be. And credit is only another
name for confidence. Confidence is pre-
served by only a sure and permanent
adjustment Of business 10 any given
| lines OF financial and commercial pol
| Icy more than by all other things put
| together.
MUST BE STEADY.
81 do not mean that there should not
be gradual changes In all OF our laws
as those laws here and there become
out of date But ! DO mean that II is
better for business to steadily adhere to
some settled line Of policy than to sud-
denly and radically change IT, our
whole financial and Industrial legisla-
ton should be steady and not spas
modic.
MUTUAL CONSIDERATION
within banking circles themselves
all contention should cease. There is
no natural antagonism between eastern
and western bankers. Naturally their
interests are the same, Bankers east
and west are the financial servants of a
single people under single flag. IL
western bankers, when they do not
need their money. make loans 10 the
customers OF New York bankers for ex.
ample, as Is universally done, and when
they need their money again take II
away and require the entire financial
necessities Of business in the west TO be
cared for by eastern bankers whose ter
ritory they have invaded western bank
ers should not object TO a law which
would relieve the eastern stringency
which the western bankers themselves
have caused, on the contrary, the east
ern bankers should not invade the ter
ritory OF the western bankers when
eastern money is plentiful and thus in
yite reprisals In their own fields by the
western bankers There should be mu-
tual consideration, each section taking
care Of the financial necessities Of its
own people as long az II has the mon
tN W no ~ anu TtlltNiilB Tue ntt'HNi-
ties of another section only whenever
they are not able to take care of them
selves There never was a period when
the tide OF prosperity has risen 80 high
as now; and It's highest point is not yet
reached,
BANKERS RESPONSIBLE,
"But upon the shoulders Of the bank
ers OF the country more than upon any
set OF business men depends the con
tinuance OF this fortunate condition, If
!. without reason the bankers indulge In
vague apptehensions they win them
selves bring about the very thing which
they fear. II the bankers begin TO ex-
ercise cowardce instead Of patience; If
without any reason they begin TO con-
tract their loans and reduce credits that
confidence upon which all business rests
and OF which the bankers themselves
are the benenciaries will he impaired
But this will not occur. The bankers
Of the republic are too intelligent TOO
brave too patriotic"
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