Fergus County argus., 1903-09-16
ABLE ADDRESS
BY BEVERIDGE
Senator From Indiana Outlines Prob
able Financial Legislation at Conn.,
ing Session Of Legislature.
WILL BE NO GREAT CHANGES
Present Prosperity viii Not be Inter.
rupted-The Influence OF the
Banker.

South Bend, Ind, Sept. 1O.-The
seventh annual convention OF the In
diana Bankers association was ad-
dressed today by United States Sena-
tor Beveridge. Senator Beveridge has
but recently returned from visit to
the president and his assertions with
regard to the action Of the coming
session of congress were given all the
more weight. .... ...
VIII be Moderate.
Senator Beyeridge said: "The
coming session OF congress will not en-
act any radical or sweeping financial
legislation. Except In great emergen.
cies moderation is the word in all
financial legislation. The stability OF
financial legislation. even though i'm.
perfect. is more desirable than sud
den and comprehensive changes, even
though those changes are toward a
greater perfection.
Some moderate financial legisla.
tion which will relieve the periodical.
ly recurring money stringency in the
money centers is probably desired
and may be enacted, will be simple in
its nature and will not disturb or
alarm the business interests of the
country. No legislation Is possible at
the coming session of congress which
will radically affect our entire curren-
cy system and cause the business
world to pause in our present pros
perity until it Is seen how such legis.
lation Is going to work.
Maintenance Of Credit.
The maintenance of credit is the
only great financial question and al.
ways must be. And credit is only an.
other name for confidence. Conf.
dence is preserved only by sure and
permanent adjustment of business to
any given lines of financial and CON-
mercial policy more than by all other
things put together.
Il do not mean that there should
not be gradual changes in all of our
laws as those laws here and there be-
come out of date. But do mean that
1t is better for business to steadily ad'
here to some settled line OF policy
than to suddenly and radically change
It, Our whole financial and industrial
Legislation should be steady and not
spasmodic.
Interests Are the Same.
within banking circles themselves
all contention should cease. There
[, M not,ral onto 0opiopn hat uyaa1 th a
eastern and western bankers. Nat
urally their interests are the same.
Bankers east and west are the finan-
cial servants of single people, un.
der a single flag. There should be
mutual consideration, each section
taking care of the financial necessi.
ties of Its own people as long as 1t
has the money to do SO and relieveing
the necessities OF another section only
whenever they are not able to take
care of themselves. There never was
period when the tide Of prosperity
has risen so high as now; and its
highest point Is not yet reached.
Depends on Bankers.
But upon the shoulders Of the
bankers OF the country, more than
upon any set of business men, de-
pends the continuance OF this fortun.
ate condition. If, without reason
the bankers indulge in vague appre.
tensions they will themselves bring
about the very thing which they fear
II the bankers began to exercise COW.
ardice instead Of patience; II without
any reason they begin to contract
their loans and reduce credits that
confidence upon which all business
rests and of which the bankers them
selves are the beneflciaries. will be
impaired. But this will not occur.
The bankers of the republic are too
intelligent, too brave, too patriotic" /"