Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1913-06-24

manship is not negative merely. 1t II
constructive also. We must show thai
we understand what business needs
and that we know how to supply It.
No man, however casual and super
!ficial his observation of the conditions
now prevailing In the country, cen fall
Ito see that one of the chief things
business needs now, and will need
increasingly as it gains in scope and
Ivigor In the years Immediately ahead
LOT US, Is the proper means by which
readily to vitalize its credit, corporate
land Individual, and its originative
ibrains, What will it profit us to be
Ifree II We are not to have the best
and most accessible instrumentalities
LOT commerce and enterprise? What
will 1t profit us to be quit OF one kind
! Of monopoly if We are to remain In the
grip of another and more effective
kind? How are we to gain and keep
1.-THE confidence of the business COM
immunity unless we show that we know
ihow both to aid and to protect It?
What shall we say If We make fresh
/ enterprise necessary and also make 1t
very difficult by leaving all except
the tariff just as we found it? The
ttyrannies of business, big and little,
! lie within the field of credit. We know
that. Shall We not act upon the knowl-
ledge? Do We not know how to act
upon it? II man can not make his
assets available at pleasure, his assets
lot capacity and character and resource,
what satisfaction is 1t to him to see
opportunity beckoning to him on every
), hand. when others have the keys Of
|credit in their pockets and treat them
las all but their own private possession?
It ia perfectly clear that 1t Is our duty
Ito supply the new banking and cur
|rency system the country needs, and
THAT it will Immediately need It more
than ever.
The only question is, when shall
we supply it-now, or later, after the
demands shall have become reproaches
THAT we were so dull and so slow ?
4 Shall we hasten to change the tarin
laws and then be laggards about max
ing 1t possible and easy for the coun-
TRY to take advantage Of the change
There can be only one answer to that
question. We must act now, at what
ever sacrifice to ourselves. 1t is q
duty which the circumstances forbid
us to postpone. should be recreant
to my deepest convictions of public
obligation did not press It upon you
with solemn and urgent 1nsistence.
The principles upon which we should
Iact are also clear. The country has
lsought and seen it's path in this mat
ter within the last few years-sees 1t
more clearly now than 1t ever saw 1t
lbefore--much more clearly than
when the last legislative proposals on
the subject were made. We must
have a currency, not rigid as now, but
readily, elastically responsive to sound
credit, the expanding and contracting
credits OF everyday transactions, the
normal ebb and flow OF personal and
corporate dealings Our banking
laws must mobilize reserves; must not
q few hands OF the monetary resources
Of the country or their use for specula-
tive purposes in such volume as to
hinder or impede or stand in the way
Of other more legitimate, more fruit
uSSS AL1Q Luc COuLIOl VI luO
system Of banking and of issue which
our new laws are to set up must be
public, not private, must be vested in
the government itself, so that the
banks may be the instruments, not the
masters, Of business and of individual
enterprise and initiative.
The committees of the congress to
which legislation Of this character is
referred have devoted careful and dis
passionate study to the means of &C.
complishing these objects. They have
honored me by consulting me. They
are ready to suggest action. I have
come to you, as the head Of the gov
eminent and the responsible leader OF
the party in power, to urge action
now, while there is time to serve the
country deliberately and as We should,
in a clear air of common counsel.
appeal to you with deep conviction
Of duty. believe that you share this
conviction. I therefore appeal to you
with confidence. am at your service
without resere to play my part In any
way you may call upon me to play 1t
in this great enterprise of exigent re-
form which it will dignity and dis
tinguish us to perform and discredit
US to neglect. -..-