The Lemmon herald. (Lemmon, Perkins County, S.D.) 1912-1917, 1913-07-04

| munify unless we show that We know
| how both to aid and to protect III
What shall we say II we maze fresh
enterprises necessary and also make It
very difficult by lea wing all else except
the. tariff just as we found 1t? The
tyrannies of business. big and little.
lie within the field OF credit We
know that Shall we not act upon the
knowledge? Do we not know how to
act upon It? II man cannot make
h.s assets available at pleasure. his as
sets Of capacity and character and re-
source, what satisfaction is it to him
to see opportunity beckoning to him
on every hand when others have the
keys Of credit In their pockets and
treat them as all but their Own pri
vate possession? 1t Is perfectly clear
that 1t is our duty to supply the new
banking and currency system the coun-
try needs and that It will Immediately
need 1t more than ever.
Need Of Currency Changes.
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 slowi
Shall we hasten to change the tariff
laws and then be laggards about max
ing 1t possible and easy for the coun-
try to take advantage OF the changer
There can be only one answer to that
question. We must act now. at what
ever sacrifice to ourselves 1t is
duty which the circumstances forbid
us to postpone | should be recreant
to my deepest convictions Of public OBJ
legations did | not press it upon you
with solemn and urgent insistence.
The principles upon which we should
act are also clear The country has
sought and seen it's path In this mat
ter within the last few years--sees It
more clearly now than 1t ever saw 1t
before-much more clearly than when
the last legislative proposals on the
subject were made We must have
currency. not rigid. as now, but read
lily. elastically responsive to sound
credit the expanding and contracting
credits of everyday transactions. the
normal ebb and dow OF personal and
corporate dealings. Our banking laws
must mobilize reserves, must not per
init the concentration anywhere In 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
ful uses. And the control OF the sys-
tenn Of banking and of issue which our
new laws are to set up must be public.
not private: must be vested In the gov
ernment itself. so that the banks may
be the instruments. not the masters, of
business and Of individual enterprise
and initiative.
Committee Ready to Report.
The committees of the congress to
which legislation Of this character IN
referred have devoted careful and dis
passionate study to the means Of ac-
complishing these objects They have
bonored me by consulting me. They
are ready to suggest action. | have
come to you. as the head Of the gov
ernment and the responsible leader of
the party In power, to urge action now,
while there Is time to serve the coun.
try deliberately and as we should. In
clear air OF common counsel
! appeal to you with deep convic-
ton OF duty. | believe that you share
this conviction. therefore appeal to
you with confidence. l am at your
service without reserve to play my
part In any way you may call upon me
to play 1t in this great enterprise OF
exigent reform which 1t will dignity
and distinguish us to perform and dis
credit US to neglect.