Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-23
REFORM BANKING
WILSON URGES
IN PERSON
President Reads Currency Reform
Message to Congress-Wants
Federal Control.
Continued From Page /.

AhtAE ~ 7' ~ -Faailt anu SD II AUS l'
with big consequence that we
know that we are not at liberty
TO weigh against It any point Of
personal sacrifice.
We are now in the presence Of
such an occasion. II Is absolute
" imperative that we should give
the business men OF this country
a banking and currency system by
means Of which they can make
use Of the freedom Of enterprise
and OF individual initiative which
we are about to bestow upon
them
Must Provide the Tools.
we are shout to set them free,
we must got leave them without
the tools Of action when they are
free We are about to set them
free by removing the trammels
OF the protective tariff Ever
since the Civil War they have
waited for this emancipation and
for the free opportunities It viii
bring with t. II has been re-
served for us 10 give Il TO them.
Some fell in love, indeed, with the
slothful security OF their depend
enCe upon the Government: some
took advantage Of the shelter Of
the nursery to set up a mimic
mastery Of their own within Its
walls Now both the tonic and
the discipline Of liberty and ma
turity are to ensue.
There will be some readiust-
ments Of purpose and point OF
view. There will follow a period
of expansion and new enterprise,
freshly conceived. II is for us TO
determine now whether Il shall
be rapid and faCile and Of easy
accomplishment. This IT cannot
be unless the resourceful busl-
ness men who are TO deal with the
new circumstances are to have al
hand and ready for use the in
strumentalities and CunvenienCes
OF free enterprise which indie
pendent men need when acting
on their own initiative.
II Is not enough 10 strike the
shackles from business. The du-
~ Of craftsmanship is not mega
tive merely. 10 is constructive
also We must show that we un-
de~atand what business needs and
that we know how to supply IT,
No man however casual and su-
perficial ms observation Of the
conditions now prevailing in the
country, can fail TO see that one
of the chief things business needs
now, and win need increasingly
az II gains In scope and vigor In
the years Immediately ahead OF
US, is the proper means by which
readily to vitaliZe its credit cor
porate and Individual. and It's
Originative brains.
Shows Power Of Credit.
What will It proft us to be free
n we are not 10 have the best
and most accessible instrument
talities OF commerce and enter
prise2 What will Il profit us TO
be quit OF one kind Of monopoly
II We are 10 remain in the grip
Of another and more effective
kind How are we to gain and
keep the confidence Of the bust
ness community unless we show
that we know how both to aid and
10 protect it, What shall we say
n we make fresh enterprise nee
essaTy and also make Il very diff
hcult 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 Il?
II q man cannot make his as
sets available at pleasure. his as
sets OF capacity and character
and resource. what satisfaction
is II TO him to see opportunity
reckoning TO him on every hand,
when others have the keys OF
credit in their pockets and treat
them as all but their own private
possession? 1t is perfectly clear
that It Is our duty to supply the
new banking and currency sys-
TEN the country needs, and that
II will Immediately need II more
than ever.
The only question is, When
shall We supply it-now. or later,
after the demands shall have be
come reproaches that we were SO
duh and so slow? Shall we has
ten TO change the tariff laws and
then be laggards about making Il
possible and easy for the Coun-
try to take advantage of the
change There can be only one
answer TO that question.
Action Now Is a Duty.
We must act now. at whatever
sacrifice 20 ourselves It is a
duty which the circumstances for
bid us TO postpone I should be
recreant to my deepest CouviC-
tons Of public obligation did l
not press il upon YOU with sol
emn and urgent iusistenCe
The principles upon which We
should act are also clear. The
country has sought and seen It's
pith in this matter within the
last few years-secs 1t more
clearly than when the last legisla-
tive proposals on the subject were
made We must have a currency.
not rigid as now, but readily.
eIastically responsive TO sound
credit. the expanding and con-
tracing credits of everyday
transactions, the normal chh and
flow of personal and corporate
dealings
Our banking laws must mobil-
lie reserves; must not permit the
concentration anywhere in a few
hands Of the monetary resources
Of the country or their use for
speculative purposes in such vol
ume as 10 hinder or impede or
stand in the way of other more
legitimate, more fruitful uses.
And the control Of the system
ef banking and Of issue which
our new laws are to set up must