The Sentinel=record., 1912-03-22

 an open book. Conscious that h, has wronged no one, he feels saf, and free to go hither and thitlher. a, inclination, business or pleasure ma, lead him. His almost boundless char ities and masterful achievements will for all time, be cherished in ths hearts of his countrymen, and vii live in other lands, and speak in other tongues and to other times than ours
 You may obliterate the rocks. the | rivers and the rills, and the spread | Ing lands from sea to sea, with which his name and fame are inseparably associated, and even then you will not obliterate from the memory O, | man the impress for good he has left upon human race
 A man, who, by a careful study of the finances of the world, and DOS. sessed, as he Is, of such keen dis. crimination and far seeing sagacitv is as well, If not better equipped. to to entertain and instruct us in what he considers the burning question of the hour . The Readiustment or our Financial System"
 He can have no selfish motive in what he may say to us today. His highest ambition, now that he is ap. proaching the scar and yellow leaf of life, Is to add still another benefae- ton to those he has already bestow. ed on mankind.
 1 have great pleasure in introduc- Ing to you man, who, in every re. lation Of life, has few equals and no superiors, in this or any other coun- try, the Honorable Andrew Carnegie.
 Mir. Carnegie, when introduced, smiled happily in response to probab- ly the greatest and most wholesome ovation that has ever been rendered anybody in this city. The applause was prolonged and was only broken when MT. Carnegie began to speak. Chairman, Ladies and Gentlemen:
 l thank you for your warm well come, and it is with the greatest pleasure 1 rise to address my first audience in Arkansas.
 Our beloved republic stands far in advance of other nations in many de- patments of it's political system which establishes government of the people, for the people and by the peo- ple--in our system of general edu- cation of all the people-in our re. ligious toleration, welcoming and fos- tering all sects; in these and many other departments we stand far in advance.
 There is not upon the earth today, and never was, such a community, fast approaching a hundred million people, composed of many nations, but rapidly merging into one type the Americans ruling themselves as this land of triumphant democracy But, true as this is, we are in one of the most important fields-that Of banking, including our entire none tary system-the nerves Of our bus mess world-the most backward of all civilized nations.
 From the days Of Jackson and the national bank down to the present we have done nothing but muddle this vital problem, and we remain today under conditions discreditable to our claim to common sense.
 It is said that every man has his pet folly; our nation has this in It's banking system.
 President Mckinley. under the ad- vice of Lyman Gage, his secretary of the treasury, was disposed to take action upon it, but one of our lead ing men advised him that the pres ent law needed no change, not 1 to be crossed, not an l to be dotted they were perfect, and the presi. dent. believing him, did nothing.
 When the Aldrich committee was appointed in 1908, as the direct result of the severe panic of 1907. I wrote an article for the Outlook. conclud- ing with these words. We have the worst banking system in the world, and sent copy to President Roose. welt, who consulted Senator Aldrich who, up to this time, had been rath CT mka-warm, l understand, in the demand for change.
 His committee, however, and he with them, after investigation i'll Etl. rope. were soon convinced of this truth, hence. the proposed change in our financial system, in which am gratified to learn you here take deep interest. consider it far and away the most important of all ques- tions now before the people. We must abandon present methods, and give our country the benefit which other nations have derived, at our expense, from their sound methods of banking
 The Aldrich committee gives IT principal defects in our system, and show why change is imperative if we are to have the advantage in fl nance enjoyed by European competi- tors.
 I hope Mir. Rix and our chairman will ask your members of congress for numerous copies of that report meanwhile I shall leave my copy with them. No intelligent banker can fail to realize the urgent need Of q change.
 Perhaps can best give this audi ence an idea of the danger and the wrick and ruin attending our sys' tenn by an illustration
 Suppose one of your elevators has a perfect air cushion at the foot, or other device, which has been tested over and over again and always sue ceeded in preventing injury to occh pants when the cage fell-no life was ever lost: no serious injuries ever inflicted Suppose every man her6 knew of this. and yet persisted T f.s .ff.f