The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-06-23

community unless we show that we
know how both to aid, and to protect
it? What shall we say il we make
fresh enterprise necessary and also
make it very difficult by leaving all
else except the tariff just as we found
it? The tyrannies of business, big and
little, lie within the field of credit.
We know that Shall we not act upon
the knowledge ?Do we not know how to
act upon 1t? If an cannot make his
assets available at pleasure, his assets
of capacity and character and resource,
what satisfaction Is it to him to see op-
portunity beckoning to him on every
hand, when others have the keys of
credit in their pockets and treat them
as all but their own private posses
sion? 1t is perfectly clear that it is
our duty to supply the new banking
and currency system the country
needs, and that it will Immediately
need it more than ever.
The only question is, When shall we
supply ft--rlow, or later, after the de-
mands shall have become reproaches
we hasten to change the tariff laws and
then be laggards about making it pos
sible and easy for the country to take
advantage Of the change? There can
be only one answer to that question.
We must act now; at whatever sacrifice
to ourselves. 1t is duty which the
circumstances forbid us to postpone 7
should be recreant to my deepest con-
victions of public obligation did not
press it upon you with solemn and ur-
gent insistence.
The principles upon which we
should act are also clear. The country
has sought and seen its path in this
matter within the last few years
sees 1t more clearly now than it ever
saw 1t before-much more clearly than
when the last legislative proposals on
the subject were made. We must have
a currency, not rigid as now, but
readily, elastically responsive to sound
credit the expanding and contracting
credits of everyday transactions. the
normal ebb and flow of personal and
corporate dealings. Our banking laws
must mobilize reserves; must not per-
nit the concentration anywhere in
few hands of the monetary resources
of the country or their use for
speculative purposes in such volume
as to hinder or impede or stand In the
way of other more legitimate, more
fruitful uses. And the control of the
system of banking and of issue which
our new laws are to set up must be
public, not private. must be vested In
the government itself, SO that the
banks may be the instruments, not
the masters, of business and of in
dividual enterprise and initiative.
The committees of the congress to
which legislation of this character lis
referred have devoted careful and dis
passionate study to the means of ac
cornplishing these objects. They have
Iaonored me by consulting me. They
are ready to suggest action, ! have
come to you. as the head of the gov
eminent and the responsible leader Of
the party In power. to urge action
now, while there is time to serve the
country deliberately and as we
should, in a clear air Of common
counsel. I appeal to you with b deep
conviction OF duty believe that you
share this conviction. therefore
appeal to you with confidence. ! am
at your service without reserve TO
play my part in any way YOU may
call upon me to play 1t In this great
enterprise Of exigent reform which il
win dignity and distingu guish US to per-