Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-11
A Governmental Central
Banks UGOOd Dem
OcrUtic Ideal

speech regard currency legislation One does not have to
agree with him every point appreciate the value and the
illuminating character of his utterances Mr. Sch speech
hardly be considered aarms The points that he makes
First That the currency legislation before Congress ought
to Completed speedily may be- since delay
tainy and uncertainty always disturbing influence in the
business world.
Second That despite the desrabhy OF prompt conclusion
the currency question nevertheless sufficient time should be
taken to make the currency absolutely sound and
effective
Third That proracted delbeation the currency
and prolonged uncertainty what business
don would be result of the currency would prob
ably bring about business stagnaon and lack of confidence
which would result business depression sufficiently aggravated
to be pronounced panic.
Fourth That the present administration modi
fcaton of the Adch bill and large extent the product
of the monetary commission which Senator Adch the
head and that therefore he Mr. sch and other representa-
tves of the great Wall street interests could find less danger
the prompt of the administration bill than in delay and
the possible failure to IT,
If the above correct analysis of Mr. Schf speech how
can anyone crcs his remarks even if they do not wholly
agree with his conclusions?
Undoubtedly and ndsputably the prompt passage of
rect currency bill desirable and the prompt of
rect tariff The continual and proacted disturbance
of business does business depression and sufficient business
dizziness and financial have already been caused by the
ddacc doctrines and the nfabe theories of the peda
gogic administration
Obviously however enough time must be given to discus
and elaboration this currency measure prevent
rous mistake being made similar to the mistake made in the
tariff act
The country should not be rushed which
undemocrac principle and which will not inure to the
benefit of the people, rushed into of tariff
reduction which opened markets the products of foreign
countries without opening foreign markets to the products of
country.
Certainly for instance do wish the country
hurried into the adoption of merely modified Adrch
The people of this country with sufficient emphasis
their doubt and dsappova OF the Adrch provisions and the
Aldrch intentions.
No matter how honest the purposes the present builders
of the administration bill it is doubtful merely reconstructed
Aldrch bill will sufficiently satisfy the requirements the
ton or the demands Of the progressive elements of the
munty.
If Mr. schif right and apparently right stating
the administration bill merely outgrowth of the Adrch
recommendations would be better for this presumpvey
progressive administration from another foundation and
not merely remodel their structure but construct financial
measure from the ground up?
Would not be better proceed along the lines the
udcously radical declaration of the Independence Party plat
form adopted at Chicago in 1908 and reading:
The Independence Party declares that the right
inherent the AND 1T FAVORS THE Els
TABLIsHMENT OF A CENTRAL GOVERNMENT BANK
through which the money issued shall be put general
culaon.
The soundes and advanced progressive thought
country has long been in favor of central
roed bank The established principle and practice of the great
Republic of France expressed in the form of the Bank
France central government controlled bank
The most thorough and thoughtful and yet the ad
vanced opinion Germany finds the Reichban
of Berlin central government controlled bank
other great and up-to-date nations
is democratic and progressive and accordance with
American ideas and institutions.
democratic and progressive administration should favor
the idea of central government controlled bank prac
teal business administration of this government should adopt
this plan especially when the plan has the support only
the people at large who will be benefited by it,
great bankers Mr. Vanderbilt who recognize the pracaby
of this plan and its essential soundness and value
Mr. schf is right when he states that unnecessary delay
dangerous ou he wrong so lar as the popular interest and
inclination are concerned when he advocates the adoption
OF the truly democratic proposition of central government
of the modified Aldrch administration
Mr. Schh and Mr. Vanderp should unite in their support
controlled bank conducted not by any clique the
any class but by the the interest of all
WILLIAM RANDOLPH HEARST