Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-11
A GOUernment Central
Banks Good DEM
OcrGtic Ideal


Illuminating character of his utterances Mr. schfs speech
hardly considered aams The points that he makes
the currency legislation before Congress ought
to be completed speedily may be- since delay
ainty and uncertainty always disturbing influence in the
business world
Second That despite the desiraby prompt conclusion
of the currency question: nevertheless sufficient time should be
taken make the currency absolutely sound and
effective.
Third That too protracted deberaton the currency
and prolonged uncertainty what business
dons would be result of the currency would prob
ably bring business sagnaton and lack of confidence
which would result business depression sufficiently aggravated
to be pronounced panic
Fourth That the present administration mod
hcaon of the Adrich bill and to large extent the product
of the monetary commission of which Senator Adrich the
head and that therefore he Mr. Sch and other representa-
ves the great Wall interests could find less danger
the prompt passage of the administration bill than delay and
the possible failure to pass it,
If the above a analysis of Mr. Schf speech how
anyone CriCe his remarks if they do not wholly
agree with his conclusions?
Undoubtedly and ndisputably the prompt passage of
rect currency bill desirable and the prompt passage of
tariff The continual proacted disturbance
of business does business depression and sufficient business
duess and financial depression have already been caused by the
ddacc doctrines and the nfabe theories Of the present peda
gogic administration
Obviously however enough time must be given to discus
and deberaon this currency prevent
rous mistake being made similar the mistake in the
tariff act
The country should not be rushed into measure which
undemocratc principle will
benefit of the people rushed into of tariff
reduction which opened markets to 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 Adch
The people this country expressed with sufficient emphasis
their doubt and dsapprova of the Adrch provisions and
Adrich intentions
honest the purposes the present builders
administration bill merely reconstructed
Adrch bill viii sufficiently satisfy the requirements of the
on the demands of the progressive elements of the
munity.
MIR Scmf right and apparently right stating that
the administration bill merely outgrowth Adrich
recommendations would better for this presumpvey
progressive administration from and
not merely remodel their structure but financial
measure from the ground up?
Would it not be better proceed along lines the
proposal of Mr. Vanderp Would not be better adopt
udcousy radical declaration the Independence Party plat
form adopted at Chicago in 1908 and reading;
The Independence Party the right to issue
money inherent the government AND IT FAVORS THE ES
TABLIsHRTENT OF CENTRAL GOVERNMENT BANK
through which the money issued shall be put general
culstion."
advanced progressive thought this
country long been in favor of central government
roed bank established principle practice of the great
Republic of France expressed in the form OF the Bank of
France a central government controlled bank
The most thorough and thoughtful and yet the ad
opinion Germany finds expression the Rechsban
Of Berlin a central government controlled bank.
The plan practical because 1t in successful operation
other great and npto date nations,
is democratic and progressive and accordance with
American ideas and institutions
democratic progressive administration should favor
he idea Of central government controlled bank and prac
ical administration of this government should adopt
his plan especially when the plan has the support only
people large who win be benefited by it. but of
great bankers Mr. Vanderp who recognize the paccaby
If this plan and its essential soundness and value
Sohif is right when he that unnecessary delay
dangerous but he wrong far the popular interest and
concerned when he adoption of
of the truly democratic proposition OF central government
OF the modified AldriCh administration measure.
Mr. schif and Mr. Vanderp should unite their support
controlled bank conducted not by any clique the
any class but by the in the interest of all classes
all sections of the country.