The Birmingham age-herald., 1911-11-17
1t is most wanted. (This always supposes
 
Small Man Suffers

The money, however, should come to honest, reputable borrowers. AS affairs now are. it is the small man who Is trader. or investor who is sacrificed, and the profits go to the larger men who have money or who can get it.
 In short. every panic enriches the rich people and lnjures the poor people, unless they are so poor as to have nothing; and, at any rate, it injures the men of mod crate means and moderate credit. Our banking system as now arranged is most urdemocratic it Is antiquated. foolish. and the results would have been much
 worse in 1907 and the three or four panics before it if the bank presidents had not seen the proper course-that Is. to join hands all around in each considerable city and help one another.
 Just now we have seen something of a shake in Europe and the banks immedi- ately helped each other. Half a dozen years ago. in Germany, two of the very large banks were opponents in business, each seeking to increase it's own profits and strength In troubled time one of the banks was talked of as not strong. The opposing bank immediately went into the market and offered to take all the loans of this bank off it's hands. and it made known this fact. The consequence was that the doubted bank regained it's position at once This is simply good business.
 Doubt Causes Panics
 Congress can do no wiser thing than adopt the plan now ready in our United States treasury for banking and cur rency. It is doubt which is paralyzing business; it Is doubt which brings on pancs. As regards business men, large and small almost without exception, they are willing to pay for money in a hard time, but they want 1t. They do not grumble about the rates, but they want the money. and they can give excellent security for 1t.
 Our panics are a disgrace to our land and have been so for 50 years or more, during which time we have had half a dozen. And 1t Is to be borne in mind that, in adopting this plan, Congress will do more to make things even and com fortable for everybody, and more especial ly for the small people, than any other measure that can be taken.
 If Congress chooses to add to that a well considered law which has been sub mitted to the able business merchants, manufacturers and bankers and pro- nounced 'conservative,' it will do us a great good Today the government sim ply is saying: Do not do wrong, and then you will do right, but as we doubt all of you and as we think it likely that any. large corporation has sinned against the law, you all are under suspicion, and we shall examine you, and meantime we shall, as it were. publish you"
 Government Causing Disase
 Nothing material in this world has value unless it is of use and in use. Shops and houses in a street or city to which people do not go are a waste of bricks and mortar. Factories or railroads not in use are waste. Capital is only the result of work, and cannot be separated from work. If capital is not In use-that is If 1t is hidden in boxes or the ground, or. sent abroad. the country must suffer it is of no use to us. the American na- ton. The government is causing disuse of many things
 Capital employed in manufacturing es- tablishments or railroads or banks is do- ing the country good. The division of profits may be unjust. but on the whole. the laws of trade will wipe out this injus- tice. But there is no such folly as driv- ing capital into disuse if the material con- ditlon of the country Is to be considered.