Courier Democrat. (Langdon, N.D.) 1891-1920, 1913-06-26
WILSON MESSAGE
ON THE CURRENCY
President Urges Congress to
Pass New Law
ASKS FOR ACTION AT ONCE
Chief Executive Tells Congress the
Need of Immediate Changes in
the Banking Laws.

Washington, June 24.-President
Wilson personally read the following
message to both houses Of congress
in joint session:
"Mr. Speaker. Mr.. President, Cen
tlemen of the Congress-1t is under
the compulsion Of what seems to me
a clear and imperative duty that I
have a second time this session
sought the privilege Of addressing
you in person. l know, of course,
that the heated season Of the year
is upon us, that work in these cham
bers and in the committee rooms is
likely to become a burden as the sea-
son lengthens and that every consiG-
GRAFTON of personal convenience 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
it any point of personal sacrifice.
We are now in the presence of such
an occasion. 1t is absolutely i'm
perative that we should give the bust.
ness 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 individual
initiative which we are about to be-
stow upon them.
Must Leave Tools Of Action.
eve are about to set them free.
We must not leave them without the
tools Of action when they are free.
We are about to set them free by re-
moving the trammels of the pro-
tcetive tariff. Ever since the Civil
war they have waited for this eman-
cipation and for the free opportuni-
ties it will bring with it. It has Deer
reserved for us to give it to them.
Now both the tonic and 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
us to determine now whether it shall
be rapid and facile and of easy &C
complishment. This it cannot be IN
less the resOurceful business men who
are to deal with the new circum-
stances are to have at hand and ready
for use the instrumentalities and con-
venlences OF free enterprise which in
dependent men need when acting on
their own initiative.
ut is perfectly clear that it is cur
duty to supply the new banking and
currency system the country needs
n that it will Immediately need it
more than I've
Need of Currency Changes.
1--WE must act now, at whatever
sacrifice to ourselves. 1t is a duty
which the circumstances forbid us to
postpone. l should be recreant to my
deepest convictions Of public obliga.
tons did l not press it upon o with
solemn and urgent insistence.
"The principles upon which WE
should act are also clear. We must
have a currency. not rigid as now
but readily, elastica!ly responsive tc
sound credit, the expanding and con
tracing credits of every day transac
tons, the normal ebb and flow O
personal and corporate dealings. Oul
banking laws must mobilize reserves
must not permit the concentration
anywhere in a few hands of The
monetary of the countr,
or their use for speculative purpose!
in such volume as to hinder or i'm
pede or stand in the way of othe
more legitimate, more fruitful uses
banking and Of issue which our ney
laws are to set up must be public
not private; must be vested in tn
government itself, so that the bank
may be the Instruments, not tn
masters, of business and of individ1
al enterprise and initiative.
Committees Ready to Report.
"The committees of the congress
to which legislation of this characte
is referred have devoted careful an
dispassionate study to the means
accomplishing these objects. The
have honored me by consulting m
They are ready to suggest action.
have come to you, as the head of tt
government and the responsib
leader of the party in power, to urs
action now, while there is time
serve the country deliberately and
we should, in a clear air of commt
counsel.
81 appeal to you with a deep CO
viction of duty. | believe that "
share this conviction. I therefore 8
peal to you with confidence. l q
at your service without reserve
play my part in any way you m
call upon me to play it in this gre