The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-11-18

becomes a Law Will depend upon Your
support and your activities quito as
rUch as upon the supper and activi-
ii"S Of tll. bankers t~h-oUs,lou, the
country.
In some quarters criticism Of the bill
has t."n made which has been based
entirely upon prejudice. and This. my
f1enoS, Is T. be greatly regretted. for
since the Question Of currency lcgiSla.
ton Is without doubt -he one OF iii.
greatest i!nportaNc" before the .Am,ri.
tan people today, I hold that Il, should
o. discussed and treated entirely upon
IT'S merits. irse from all rriud!cc and
TItup"ra-i"r.
Frsjudiee and s~elashness are re-
s~iricHve and eannot possibly ha con-
St!uctlve. as construction and growth
y Development must be founded OH
confidence.
This fill Is ne. a partisan hill. and
the only hope OF its becoming a law
Gapsnds 1,,,on orr ahilit:: to keep il
out ~ politics.
tsr'ainl" commerce is no; partisan,
lnauStr%, credit. integrity and cur
ranoT and debts are 10, partisan,
"hieh treats on!. Of thss" ron-purtis-
an qualities?
49, haNe an abiding faith that when
IN" rs"pl" ~ this country waken 10
IN. Importance az this legislation they
WI I'"t aside all feelings Of p~rejudicr
ana salHshnass and treat the subject
'ntir'.T upon IS merits: in which
,"'ni nay. full confidence in the h.-
Nsf thit 'ha bill itself will cnlis, the
sui'p"r, and cooperation Of business
men generally regardless of what their
party Affiliations may be.
II IS II: belief tina; the representa-
ives o. ihe p+orie at Washington, no
matter in what branch of concreSs
re ma he. desires TO cast his VOTE,
cP"n Al! these important, questions in
accordance with the wishes Of his con-
i!T= "aE 70 further the cause of cur
r=oc" legislation is 10 interest all bust.
ness men. generally. in this sub;ec,
ana secure their cooperation in our
s.o'is &c have it iaaugurat.d into q
The National Reserve association is
banned 10 re onl" a cooperative or.
~zaiizai:en 81 th= hanks ri the
hotr 1sI-cna! and STATE. devised
pE-ic-!srly With a v:.w Of r1obilizins
-" Reserves - our coun.r: and having
'aEr- I'm :oc ;ha sr=z,es, possible.
:IlV=,ee II inns ot ~>triag.nc,. or
Nlsn pubic Confidence is unsettled.
i %:E adoF: z system Of banking
az e-:-e.c: Iaich Will provide an
e~'-!i'E tor solvent concerns. through
;a= 5a.k= q; ,he country, 20 secure
.Eeds q business. psnics Will be very
i~ai'eGlsnt, Il 2, all. in the United
states. :or l say to you without fear
e, successful contradiction that panics
nee: come except as the result Of the
!nsp;!i;: o. solvent people TO get credit
against satisfactory securities.
Bankers Responsibility Refuted.
hSs NfVo-.~-. 49, go:
hanE"rs are TO hlam. for the period-
zeal s~trinz@nc:' in money because they
% NOT carr sufficiently large Reserves
u meet the requirements u crop NOV
ing.
1 wonder IL it has ever occurred to
such critics that A bank AN protect
itEeit against any condition by increas-
Ing N. amount Of III" reserv. in its
vaults. but the only way that this can
," done IS through cancclling a proi
pcrtionste nov Of the credits
which y extends; consequently, an at
Il on the part Of The banks t. car.
r. larger reserves to provide for the
requireInentg during crop-moving sea-
son would mean a restriction in the
extended By the banks 70 bust
ness interests generally, which would
OF necessity materially reduce the vol
ume OF business which is done even
now; n do YOU. II believe that
the banks are derclict in this respect,
appreciate that just IN proportion as
they increase their reserves as q pro-.
lection against the conditions which
nave mentioned they must take AVA"
from you and from all their other
a part OF the lines Of credit
which they now extend:
Furthermore than this. to follow
that plan would mean to cause q largo
of money 20 be idl. eight