Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-15
SOUTHFAC|NG
ITSBANNERERA
SAYS GAMBLER
Bankers All Ready to Meet New
Demands That Progress in Ag-
ricuIture Maks Necessary.


through RepuDECan disruption.
perhaps. than through their own
undoubted virtues. / do not sub
scribe to that altogether, and
am not particularly interested in
it. believe this country is going
to progress right along its road
Of prosperity, regardless largely
of whether a Democrat or a Re
publican is in the White House
in Washington. However, these
things do sometimes cause
feeling Of hesitation among finan-
ciers. whether they ought 70 or
not.
The agitation of the tarin
causes certain big Industries tc
mark time so to speak, while
the problem is being adjusted.
Naturally, this is sO-how could
il be otherwise? But there is in
this no reason for alarm or anX-
iety.
Next to agriculture. the South
is concerned more perhaps with
the real estate question. Ger
tainly that is a thing OF para
mount Importance to US.
Real Estate Market Stagnant.
Just now the real estate mar
ket is more OF less stagnant.
There is not so much trading as
there was this time last year.
Still. can you get anybody to sell
you property to-day any cheap
er than he would have sold II to
you last year?
you certainly could not get any
OF my real estate at a less figure
than you might have had II for
last year-indeed, you could not
get It without payinb me an ad-
vance.
why Is Il, people ask me. that
real estate values either hold up
or 20 forward. regardless Of the
fact that few people are trading
in IL?
well, there is that same feeling
Of hestitancy In the real estate
world that there is in the world
OF finance-it is an intangible,
more or less elusive thing to get
hold Of mentally-and Il can not
be accounted for very well by
facts
Let me tell you one thing. and
il Is the one big, significant thing!
too-there Is abundant confidence
in the hearts and minds Of the
people and the banks.
And. after all. confidence is the
thing that holds together the en-
tire financial fabric.
HE4aa l. ~tEAA
mo matter how high the rate
Of interest may be or how tight
money may get, you can not dis
turb conditions seriously so long
as confidence remains unim-
paired. on the other hand. no
matter how easy money may be,
or how low the rate of interest.
financial distress can not be
warded on II confidence is upset
There are two classes OF peo-
pie in this world that interest
There are those people who are
forever wanting TO reform things,
and there are those people 80
sadly in need OF reforming II
genuine reformers and those gem
timely needing reform could be
gotten together Il would be a
mighty fine thing-but too often
they never do get together, really.
Il DO not think I should enjoy
too many privileges with respect
TO you. / do not think that be-
cause / happened 10 lose $40
note this morning that l should
have the right to search the pock-
cts Of every visitor who comes In,
70 find out n he has t.
Il do not think my lack OF con-
fidence should be INDUCED 10 that
extent.
Il believe that optimism heEets
optimism 7 believe just as firmly
that psssimism begets pessimism.
We can talk hard times and
danger ahead. until We really
bring ourselves into the zone OF
danger-but how absurd to cut
our own threats after that fash
ion!
No Thunder From South.
Some fnanciers in the East
have heard. or imagined they
heard. the mutterings OF distant
thunder. n they have thought
they heard Il I'm the direction OF
the South. they are mistaken.
Il went into a big bank In the
East not long ago. and I asked
the president how he was getting
along AN right said he
Things look promising
Il found. however. that he was
not lettirg ont his money quite
as generously as he did last year.
and asked him why. He said he
l.
things down-that was all
Il tried 10 get him to fix upon
something definite that looked
dangerous He couldn't DO Il. He
was vague and more or less in
definite He simply was hesitat-
ing He was not alarmed. not
even anNious-hut he was for
some reason or other. just hest
tatirg % let himself loose.
He talked about the tariff
agitation. and the political condi-
ti0us-hut I really believe there
was nothing in his mind that &C
tusllv distressed him.
"one reason why money is be-
ing held back IN the East. TO a
certain extent now. entaiiing upon
th@ country a slightly higher rate
Of interest than usual is that the
great West is going to produce
the biggest crop Of grain this
year that the world has ever
kn0Wn-and IL is going 20 require
an enormous amount % money TO
move IL The East knows q will
be called upon 20 furnish this
monev-and IL is going 20 furnish
10. That's one reason why Il Is
holding back now.
No Ground for APprehension.
But that is not a depressing
thing-it is a rainbow. l. indi-
Gates very substantially prosner-
Gus material conditions.
y do not believe there ig one
thing that iusyifes apprehension
OF anNIatN IN the hrrstra.E r..-Ia