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 I.

very small. when the work to be
done is so pressing and so fraught
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 about to set them free.
we must not 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 will
bring with It. II has been re-
served for us to give It 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 -
mastery Of their own within its
walls. Now both the tonic and
the discipline OF liberty and ma
turity are to ensue.
There viii be some readjust-
ments Of purpose and point %
view. There will follow a period
Of expansion and new enterprise.
freshly conceived. II is for us 10
determine now whether II shall
be rapid and facile and Of easy
accomplishment This IL cannot
be unless the resOurCeful busl-
ness men who are TO deal with the
new circumstance are to have at
hand and ready for use the In
strumentalities and conveniences
Of free enterprise which indie
pendent men need when acting
on their own initiative
1t Is not enough to strike the
shackles from business. The du-
ty Of statesmanship Is not mega
tive merely II is constructive
also. We must show that we un-
derstand what business needs and
that we know how to supply IT,
No man, however casual and su-
perflcial his observation OF the
conditions now prevailing in the
country, can fail to see that one
of the chief things business needs
now. and will need increasingly
as 1t gains in scope and vigor in
the years Immediately ahead OF
US, Is the proper means by which
readily 10 vitalize its credit, cor
porate and individual, and its
Ortginative brains
Shows Power Of Credit.
What will II pront us to be free
II we are not to have the best
and most accessible instrument
talities Of commerce and enter
prise? What will Il profit US to
be quit Of one kind Of monopoly
II we are TO remain in the grip
Of another and more effective
kind2 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 it2 What shall we say
If we make fresh enterprise nee
essary and also make II very diff
ficult by leaving all else except
the tariff just as we found II?
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 It?
II a man cannot make his as
sets available at pleasure, his as
sets OF capacity and character
and resource, what satisfaction
is II to him 10 see opportunity
reckoning 70 him on every hand,
when others have the keys Of
credit in their pockets and treat
them as all but their own private
pOsse ssion2 1t is perfectly clear
that IL is our duty to supply the
new banking and currency sys-
TEN the country needs. and that
il 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
dull and so slow? Shall we has
ten to change the tariff laws and
then be laggards about making 1t
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 to ourselves. It is a
duty which the circumstances for
bid us to postpone | should be
recreant TO my deepest convic-
tions of public obligation did
not press il upon you with sol
emn and urgent insistence,
The principles upon which we
should act are also clear The
country has sought and seen its
pith in this matter within the
last few years-seeS II 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.
elastically responsive to sound
credit, the expanding and con-
tracing credits OF everyday
transactions. the normal ebb and
flow of personal and corporate
dealings
our banking laws must mobil-
ize 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 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