Oxford eagle. (Oxford, Lafayette Co., Miss.) 1876-current, 1913-06-26
PRESIDENT READS BANKING
AND CURRENCY MESSAGE
For Second Time Chief Executive
Appears Before Law Makers to
Ask Consideration Of Bill.

ilson apl Jared bef,'c Joint ses-
His message on a banking and cur
rency reform system vas delivered in
a clear, deliberate and distinct voice.
He said
Mr.. Speaker. Mr President. GentIsmen
% the Congress
II i under the cUmpulsion of what
ssem- 90 me clear and imperative duty
that nave a Second time this session
sought the privilege of addressing you in
person I Know. q course. that the heat
ed season of the year ls upon US. that
work in these chambers and IN the COM
mittee rooms n likely TO become bur
Den as The season lengthens. and that
every consideration ot personal canveni-
ence and personal comfort. perhaps. in
the cases ~ some of US. considerations ~
Personal health even, dictate an early
conclusion Of tho deliberations ~ tbs
session. hut there are occasions of public
duty whsn these things which touch us
privately seem very small. when the
work TO he done is - pressing ane -
frsught with big consequence that vs
know that We are not at liberty to weigh
against It any point u personal sacrifice.
We are now In the presence of such an
occasion Il r. absolutely imperative that
ye should give the business men of this
country \ banking and currency system
by means % which they can make use
Of the freedom ~ enterprise and Of
Individual Initiative which We are about
to bertew upon thrm.
We are about to set them free. We must
rot leave them without the tools of ac-
tion when they are free. We are about
20 set them free bv removing the tram
r-1el NJ fk.s
the civil war they have waited for this
emancipation and for the free 0pportunl-
ties II will bring with Il. IL has been
reserved for us to give Il tn them. SOME
fell In love. indeed. with the .lothful
security % their dependence upon the
government. some took advantage Of the
shelter of the nursery to set up a mimic
mastery ~ their own within Its walls.
Now both the tonic and the discipline cf
liberty and maturity are 10 ensue. There
will be some resdJuEtments of purpose
and point OF view. There will follow
period ot expansion and new enterprise.
freshly conceived. II - for us to deter
mine now whether IL shall he rapid and
facile and OF easy accomplishment This
i' can not be unless the reSourcenil
business men who are to deal with the
rev circumstances are to have az hand
ara really for use the instrumentaiities
and conveniences OF free enterprise which
Independents men need when acting on
their own initiative
II is not enough to strike the shsckles
srom business. The duty II statesman
ship IL not negative merely. II Il con-
s,ructive also We must show that We
understand what business needs and
that we know how 10 supply n. No man.
however casual and superficial his oh
servafion OF the conditions now prevail
ing In the country, can fail to see that
cne Of the chief things business needs
now. and will need increasingly a. II
gains In scope and vtgor In the years i'm
| r.sdiateiy ahead Of us. II the propel
| means by which readily to vttaiize IA
credit. ~nrpcrats and Individual. and IL
| owisfuAtive braina. What will II pron
W 20 be free n Ne are not TO have IN
best and meet accessible instrumentalitie
Of commerce and enterprise2 What wi
II profit us to be quit az one kind Of mon
oroiy II We are 70 remain In the grip o
another and more effective kind How
ere we to gain and keep the confidence o
the business community unless we show
that we know how both TO aid to protee
f. What shall say IL make fresi
enterprise necessary and also make 4
very difficult by leaving all else except
the tarir iisst as We found it, The tyrsn-
nies Of business. big and little. lie Within
Ne not net upon the knowledge Do W
not know how to act upon H. n n man
( can not make his assets available at
pleasure. his assets Of capacity and char
scter and resource. what satisfaction Is
| it "a him 10 opportunity becknning
/ tn him on every hand. when others have
the keys Of credit in their pockets and
/ treat them as all but their own private
possessions, II Is perfectly clear that II
n
/ and currency system tho country needs.
and that il will Immediately need 1t more
than ever.
! The only question Is. when shall We
! supply it-now. or later. after the de-
mands shall have become reproaches that
we were 50 dull and 50 slow Shall We
| hasten TO change the tarir laws and then
Re lagKards ahout making IL possible and
/ easy for the country to take advantage
{ OF the changer There can be only one
answer 10 that quosti~n. We must act
now. at whatever sacrifice 10 ourselves
[ II Is duty which the circumstances for
/ bid Us 10 postpone. I shanld be reereant
To my deepest convictions of public ohli-
gation did I not press IL upon you with
/ solemn and urgent insistence.
The principles upon which We should
act as also clear. The country has
sought and seen IT'S path in this matter
within the last few years IL more
clearly aow than IL ever saw IL before
much more clearly than when the Last
legislative proposals on the subject were
made. We must have i currency. not
rigid as now, but readily elaSticsily re-
spansive TO sound credit the expanding
ard contracting credits Of everyday trans
actions, the normal shh and flow Of per-
ssnai and corporate dealings our hank
ing laws must mobilize reserves. must not
permit the concentration anywhere in a
few hands of the mon tary resources OF
the country or their use for speculative
purposes in such volume as to hinder
or impede or stand is. the way Of mare
legitimate. more fruitful uses. And the
control OF the system Of banking and o.
issue which our new laws are to set UP
must be public. not private. must b,
vested in the government itself 50 that
Ill banks nay the instruments. not the
masters. Of business and OF individual
enterprise and initiative.
The committees of the congress 10
which legislation OF this character Is re-
f.rred have devoted careful and dispas
sionate study 10 the means OF accom-
plishing ihcss objects. They have hon
oted me BY consulting me They are
ready Ia - ggest action. l have come
tC you as the mead Of the government
| nnd the responsible leader Of the party
lr power. to urge action now, while there
t. time 70 serve the country deliberately
and NE should. In a clear air of com
mon counsel l appeal to You with i
deep eonvhtion Of duty. believe that
yoii share this conviction. | therefore APP
peal tn yoc with confidence l am al
your service without reserve to play my
part In any way you may call upon me
te play IL in this great enterprise OF
exigent reform which IL viii dignity and
distinguish us 10 perform and discredi'
us TO neglect.
Pointing Out the Mote.
Eiuancier-.To think that n SON nj