Mexico Missouri message. (Mexico, Audrain County, Mo.) 1899-1918, 1913-06-26
PRESIDENT READS BANKING
AND CURRENCY MESSAGE
For Second Time Chief Executive
Appears Before Law Makers to
Ask Consideration Of Bill.

r6ncy reform system was delivered in
clear, deliberate and distinct wee.
lie said
Mr.. Speaker Mr. President, Gentlemen
OF the Congress;
II IL under the cumpulsion Of what
seems TO me clear and imperative duty
that | have a second time this session
sought the privilege ~ addressing You In
person. | know, Of course, that the heat
ed season oi the wear Is upon us. that
work i'm these chambers and In the com
mittee rooms IL likely to become u bur-
den as the season lengthcns, and that
every consideration OF personal convcni-
ence and personal comfort, perhaps. in
the cases Of some Of US. considerations ~
personal health even, dictate an early
conclusion OF the deliberations of the
session, but there are occasions Of public
duty whom these things which touch US
! privately seem very small. when the
| work to be done Is so pressing and SO
| fiaught 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 VI such an
occasion. IL Is absolutely imperative that
we should give tho business men OF this
| country a banking and currency system
! by means Of which they can make use
| Of the free dom Of enterprise and Of
| t. bestow upon them.
We are about to set them free. we must
lot leave them without the tools Of ac-
| ton when they are free. We are about
/ to set them free by removing the tram
incls Of the protective tariff. Ever since
| tho civil war they have waited for this
| emancipation and for the free upportuni-
| ties II will bring with IT, II has been
! reserved for us to give II to them, Some
fen in love- indeed. with the sothful
| security of their dependence upon the
! government; some took advantage Of the
| shelter of the nursery to set up mimic
! mastery ~ their own within its walls.
| Now both the tonic and the discipline Of
| liberty and maturity are to ensue. There
viii be some readiustments Of purpose
! and point of view There will follow a
period Of expansion and new enterprise,
freshly conceived. II is for us to deter
| mine now whether 1t shall bc rapid and
facile and Of easy accomplishment. This
g. can not be unless the rcsourccful
business men who IRE to deal with the
| rev circumstances are to have at hand
| ana ready for use the Observation-Disclosures
and convcniences Of free enterprise which
independent men need when acting on
their own initiative.
II is not enough to strike the shackies
from business. rhe duty Of statesman
ship is no; negative merely. 1t is con-
structive also We must show that we
understand what business needs and
tnat we know how 20 supply II. No man,
however casual and superficial his OBJ
servation of the conditions now prevail
ing in the country, can fail to see that
one OF the chief things business needs
now, and win need increasingly II
gains In scope and vigor in the years i'm
n,ediately ahead of us, Is the proper
means by which readily to vitalize its
f,,.NfN NNHga1 sRFI .
originative brains. What will IL profit
us to be free II We are not to have the
best and most accessible Observation-Disclosures
OF commerce and enterprise? What Will
It profit MS to be quit Of one kind OF mon
opoly II we are to remain I'm the grip OF
another and more effective kind? How
are we to gain and keep the confidence OF
the business community unless we show
that we know how both TO aid to protect
It? What shall we say II we make fresh
enterprise necessary and also make II
very difficult by leaving all else except
the tariff just as we found 1t? The tyran-
MES Of business. big and little, lie within
the field OF credit. We that that Shall
we not act upon the knowledge? Do we
not know how to act upon IL? II "A man
can not make his assets available AT
pleasure, his assets OF capacity and char
acter and resource what satisfaction Is
iC to him to see opportunity beckoninG
TO him on every hand, when others have
( the keys of credit in their pockets and
. treat them as all but their own private
possessions? II is perfectly clear that II
Is our duty to supply the new banking
2 and currency system the country needs
D and that 1t will Immediately need It more
than ever.
The only question is when shall We
: supply it--now. or later, after the de.
) mands shall have become reproaches that
- we were so duh and so slow? Shall We
hasten to change the tariff laws and ther
he laggards about making IL possible ant
easy for tho country to take advantage
Of the change? There can be only one
. answer to that question. We must set
now, at whatever sacrifice to ourselves
: II is duty which the circumstances for
: bid us to postpone. | sheuld be recrean
to my deepest convictions Of public obi
cation did ! not press II upon you viii
solemn and urgent insstence.
The principles upon which we should
act as also clear. The country hal
l. sought and seen IT'S path in this matte
!, within the last few years-sees II NOR
n clearly now than II eyer saw II before
i much more clearly than when the las
legislative proposals on the subject wer
made. We must have a currency, no
rigid as now, but readily, elastically re
sponsive to sound credit the expanding
and contracting credits OF everyday trans
j. actions, the normal ebb and flow Of per
e sGnal and corporate dealings. our bank
:. ing laws must mobilize reserves; must no
n permit the concentration anywhere In
few hands OF the monetary resources O
l. the country or their use for speculative
z purposes in such volume as TO hinde
, or impede or stand ~ the way OF NOR
: l. Ultimate more fruitful uses. And tn
u control Of the system Of banking and G
d Issue which our new laws are to set NJ
A must be public, not private, must b.
a vested in the government itself, so tina
: ia banks may the instruments, not tn
e masters. OF business and Of individual
u enterprise and initiative.
a The committees of the congress I
which leglslatio OF this character is re
ferred have devoted careful and dispas
sionate study TO the means of accom-
plishing these objects. They have hon
4 cred me by consulting me. They ar
ready TO suggest action. l have com
u to you as the mead of the government
| nf ha