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

with him point to appreciate the value and the
illuminating character of his ueances Mr. schif speech
hardly considered points
First That 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 desirabty prompt conclusion
of the currency question nevertheless sufficient time should be
taken make the currency absolutely sound and
effective
Third That too protracted deberaton currency
measure prolonged uncertainty what business CON
dton would be result of the currency would prob
ably bring business agnaon and lack of confidence
which would result depression sufficiently aggravated
to be pronounced panic.
Fourth. That the present administration modi
hoaon of the Adch bill and large extent the product
of the monetary commission of which Senator Adch the
head and that therefore he Mr. Soh and other representa-
ves of the great Wall interests could find less danger
the prompt passage of the administration bill than in delay and
the possible failure to pass it,
If the above analysis of MIR schff speech how
anyone critce his remarks if they do wholly
agree with his conclusions?
Undoubtedly and ndisputaby the prompt passage
rect currency bill desirable and the prompt passage of
protraoted
of business does business depression and sufficient business
dizziness and financial depression have already been caused by the
ddacc and the infabe theories the present peda
gogic administration
Obviously, however enough time be given discus
sion and debeIaon this currency prevent
rious mistake being made similar mistake the
tariff
The country should not be rushed into which
undemocratc in principle and which viii the
benefit of the people rushed into of tariff
reduction which opened markets to the products of foreign
without opening foreign markets the products
country.
Certainly for instance do not wish the country
hurried into the adoption of merely modified Adoh
The people OF this country expressed with sufficient emphasis
disapproval the Arch provisions
Aldrch intentions
No matter how honest the purposes of the present builders
Of the administration bill doubtful if merely
Adch bin will sufficiently satisfy the requirements of the situa
ton the demands of the progressive elements of the
munity
If schi right apparently right in stating that
the administration bill merely outgrowth of the Adrich
recommendations would not be better for this presumptve
progressive administration from and
merely remodel their structure but construct financial
from the ground up
Would be better proceed along lines of the
proposal of MIR Vanderbilt Would not be better adopt the
udously radical declaration of independence Party plat
form adopted at Chicago in 1908 and reading:
The Independence Party declares that right to issue
money inherent government FAVORs THE ES
TABLIsHMENT OF A CENTRAL GOVERNMENT BANK
through which the money issued shall put general
culation."
The and advanced progressive thought
country has long been in favor of central government
roed bank The established principle and practice of the great
Republic of France expressed in the form of the Bank of
France a central, government controlled bank.
The thorough and thoughtful and yet the
vanced opinion Germany finds expression in the Rechsban
Of Berlin central government controlled bank
The plan practical because it is successful operation
other great and up-to date nations
is democratic and progressive and accordance with
American ideas and institutions.
democratic and progressive administration should favor
he idea of central government controlled bank, and prac
cal administration of this government adopt
plan especially when the plan has the support only
he people at large benefited by it, but Of such
great bankers as Mr. Vanderp who recognize the praoCaby
If this plan and its essential soundness and value
schf is right when he that unnecessary delay
dangerous but he far the popular interest and
inclination concerned when he advocates the adoption
Of the uly democratic proposition of central government
of the modified Aldrich administration measure
Mr. schf and Mr. Vanderp should unite their support
controlled bank conducted not by clique
any class but by the in the interest Of all
all sections of the country