The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-06-23

of us, is the proper means by which
readily to vitalize it's credit, corporate
and individual, and it's originative
brains. What will it profit us to be
and most accessible instrum entalities
of commerce and enterprise? What
will it profit us to be quit of one kind
OF monopoly if we were to remain in the
grip of another and more effective
kind? How are we to gain and keep
the confidence of the business com
munity unless we show that we know
how both to aid and protect it? What
shall we say If we make fresh enter
prise necessary and also make it very
difficult by leaving all else except the
tariff just as we found it? The tyran-
MES of business, big and little, lie
within the field of credit. We know
that. Shall we not act upon the knowl-
edge? Do we not know how to act
upon it? If man can not make his
assets available at pleasure, his assets
of capacity and character and re-
source, what satisfaction is it to him
to see opportunity becokoning to him
on every hand, when others have the
keys of credit in their pockets and
treat them as but their own private
possession? 1t is perfectly clear that
1t is our duty to supply the new bank
ing and currency system the country
nee0S, and that II Will lmmeQlaLely
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 dull and so slow?
Shall we hasten to change the tariff
laws and then be laggards about max
ing it possible and easy for the country
to take advantage of that question. We
must act now, at whatever sacrifice to
ourselves. 1t is a duty which the cir
cumstances forbid us to postpone L
should be recreant 20 my deepest con-
victions of public obligations did not
press it upon you with solemn and
urgent insistence.
Responsive to Credit.
The principles upon which we
should act are also clear. The coun- |
try has sought and seen it's path in
this matter within the last few years
sees it more clearly now than it
ever saw it before-much more clear !
~ than when the last legislative pro-
oosals on the subject were made. We
must have a currency, not rigid as |
now, but readily, elastically responsive |
% sound credit, the expanding and |
contracting credits of everyday trans |
ictions- the normal ebb and flow of |
and corporate dealings. Our |
banking laws must mobilize reserves; |
must not permit the concentration |
anywhere in a few hands of the mon
stary resources of the country their |
Use for speculative purposes in such |
-olume as to hinder or impede or |
tand in the way of other more legiti-
nate, more fruitful uses. And the |
control of the system of banking and !
# issue which our new laws are to |
let up must be public, not private, ]
must be vested in the government it
elf, so that the banks may be the in
truments, not the masters, of bust
Tess and of individual enterprise and |
initiative.
The committees of the congress to
which legislation of this character is
eferred have devoted careful and |
iispassionate study to the means of
accomplishing these objects. They /
ave honored me by consulting me.
They are ready to suggest action. I
lave come to you, as the head of the |
government and the responsible lead
II of the party in power, to urge ac-
ion now, while there is time to serve
he country deliberately and as we |
Mould, in a clear air of common coun-
eL I believe that you share this
conviction. I therefore appeal to you
With confidence. I am at your SER
ice without reserve to play my part
n any way you may call upon me to
lay it in this great enterprise of ex-
gent reform which it will dignity and
distinguish US to perform and dis
redit us to neglect.