Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1913-07-12
PRESIDENT READS BANKING
AND CURRENCY MESSAGE
For, Second Time Chief Executive
Appears Before Law Makers to
Ask Consideration of Bill.

His message on a banking and cur |
rency reform system was delivered in
a clear, deliberate and distinct voice. |
He said:
Mr.. Speaker. Mr.. President, Gentlemen |
OF the Congress: /
It Is under the conpulSion of what |
seems to me clear and imperative duty |
that I have a second time this session
sought the privilege of addressing you in
person 1 know. of course, that the heat
ed season of the year is upon us. that
work in these chambers and in the COM
mittee rooms is likely to become a bur-
den as the season lengthens. and that
every consideration of personal convent
ence and personal comfort, perhaps. in
the cases of some of US, considerations Of
personal health even- dictate an early
conclusion of the deliberations OF the
session; but there are occasions of public
duty when these things which touch us
privately seem 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 1t any point of personal sacrifice.
We are now in the presence of such an
occasion. 1t is absolutely imperative that
we should give the business men of this
country banking and currency system
by means of which they can make use
OF the freedom of enterprise and OF
Individual initiative which we about
to bestow upon them.
We are about to set them free; We must
rot leave them without the tools Of ac
ton when they are free We are about
to set them free by removing the tram
n1els of the protective tariff. Ever since
the civil war they have waited for this
emancipation and for the free opportuni-
ties it will bring with it. 1t has been
reserved for us to give it to them Some
fell in love, indeed, with the slothful
security of their dependence upon the
government; some took advantage of the
shelter of the nursery to set up a mimic
mastery of their own within it's walls.
Now both the tonic and the discipline Of
liberty and maturity are to enSue. There
will be some readjustments of purpose
and point of view. There will follow a
period of expansion and new enterprise,
freshly conceived 1t is for to deter
mine now whether it shall be rapid and
facile and of easy accomplishment. This
, # can not be unless the reSouroeful
business who to deal with the
, new circumstances are to have at hand
and really for use the instrumentalities
and conveniences of free enterprise which
Independent men need when acting
their initiative.
1t is not enough to strike the shackles
from business The duty of statesman
ship is not negative merely 1t is con-
structive also We must show that we
understand what business needs and
that we know how to supply it 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 will need increasingly as it
u.ediately ahead of US. is the proper
| means by which readily to vitalize it's
credit, corporate and Individual, and its
originative brains. What will it profit
to be free if not to have the
best and most accessible instrumentalitfes
OF commerce and enterprise? What will
, 1t profit US to be quit of one kind of mon
opoly If We are to remain in the grip Of
another and more effective kind? How
are to gain and keep the confidence of
the business community unless we show
that we know how both to aid to protect
1T? What shall we say if we make fresh
enterprise necessary and also make it
very difficult by leaving all else except
/ the tariff just we found it? 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 upol it? If
can not make his assets available at
pleasure, his assets of capacity and char
acter and resource, what satisfaction is
lie to him to see opportunity beclonins
to him every hand, when others have
. the keys of credit in their pockets and
treat them as all but their own private
possessions? 1t is perfectly clear that it
is our duty to supply the new banking
and currency system the country needs,
and that it will Immediately need it more
than ever.
I 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
hasten to change the tariff laws and then
be laggards about making it possible and
! easy for the country to take advantage
Of the change? There can be only one
answer to that question We must act
now. at whatever sacrifice to ourselves.
1t is duty which the circumstances for
bid to postpone. 1 should be recreant
1 to my deepest convictions of public obli-
I cation did / not press it upon you with
! solemn and urgent insistence
4 The principles upon which we should
act also clear The country has
sought and seen its path in this matter
within the last few years-seeS it more
clearly now than it ever saw it before
Legislative proposals the subject were
made. We must have a currency not
rigid now, but readily, -elastically
| sponsive to sound credit. the expanding
and contracting credits of everyday trans
actions, the normal ebb and flow of per-
aonal and corporate dealings. Our bank
/ ing laws must mobilize reserves; must not
permit the concentration anywhere in a
few hands of the monetary resources of
purposes in such volume to hinder
| or impede stand in the way of ruore
legitimate more fruitful usesS And the
/ control of the system of banking and of
issue which our new laws are to SCI up
must be public. not private must be
! vested in the government itself, so that
tn banks nay the instruments. not the
| masters, OF business and of indivi dual
enterprise and initiative.
| The committees of the congress- to
which iegisla ton of this character is re-
| ferred have devoted careful and dispas-
sionate study to the means of accom-
| piishing these objects They have hon
| ored me by consulting me- They are
| ready to suggest action L have come
i