Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-23
ORMBANKING
WILSON URGES
IN PERSON
President Reads Currency Reform
Message to COngress-Wants
Federal Control.
Continued From Page I.

vel y NltiaItr " th'Il fI' 9th TO IF
done is so pressing and so fraught
with big consequence that we
know that we are not at liberty
10 weigh against IT any point Of
personal sacrifice.
We are now in the presence OF
such an occasion. Il is absolute
~ 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 are about to bestow upon
them.
Must Provide the Tools.
We are about to set them free;
we must not leave them without
the tools Of action when they are
free. We are about 10 set them
free by removing the trammels
Of the protective tariff. Eve
since the Civil War they have
waited for this emancipation and
for the free opportunities 81 viii
bring with IT, II has been re-
served for us 10 give Il TO them.
Some fell in love, indeed. with the
slothful security Of their depend
ence upon the Government, some
took advantage Of the shelter Of
the nursery 20 set up a mimic
mastery of their own within its
walls. Now both the tonic and
the discipline Of liberty and ma
tunty are to ensue.
There win be some readjust-
ments Of purpose and point of
view There will follow a period
OF expansion and new enterprise,
freshly conceived. Il IS for us 10
determine now whether IT shall
be rapid and facile and OF easy
accomplishment This Il cannot
be unless the resOurceful bust
ness men who are 10 deal with the
new circumstances are to have at
hand and ready for use the In
strumantalities and conveuienccs
OF free enterprise which indie
pendent men need when acting
on their own initiative.
II is not enough TO strike the
shackles from business. The du-
~ OF craftsmanship is not mega
tive merely II is constructive
also. We must show that we IN
derstand what business needs and
that we know how to supply It.
No man, however casual and su-
perficial his observation OF the
conditions now prevailing In the
country, can fail 10 see that one
Of the chief things business needs
now and will need increasingly
as II gains in scope and vigor in
the years Immediately ahead OF
us, is the proper means by which
readily TO vitalize It's credit, cor
porate and Individual, and its
originative brains
Shows Power of Credit
What will II profit us to be free
II we are not 20 have the best
and most accessible instrumen-
talities OF commerce and enter
prise? What will It profit us TO
be quit Of one kind of monopoly
II we are TO remain In the grip
Of another and more effective
kind? How are we to gain and
keep the confidence OF the bust
ness community unless we show
that we know how both to aid and
10 protect it2 What shall we say
II we make fresh enterprise nee
essary and also make It very diff
hcult by leaving all else except
the tariff just as we found it2
The tyrannies Of business. big
and little lie within the field OF
credit We know that. Shall we
81 nH he
we not know how to act upon ito
II a man cannot make his as
sets available at pleasure. his as
sets Of capacisy and character
and resource. what satisfaction
is II 70 him to see opportunity
reckoning to him on every hand,
when others have the keys 81
credit in their pockets and treat
them as all but their own private
posS ession2 II is perfectly clear
that It is our duty to supply the
new banking and currency sys-
TEN the country needs. and that
il viii Immediately need II more
than ever.
The only question is, When
shall we supply it--now, OF later,
after the demands shall have be-
come reproaches that We We're so
dun and so slow? Shall we has
ten To change the tarifT laws and
then be laggards about making IL
possible and easy for the coun-
try TO take advantage Of the
change? There can be only one
answer TO that question.
Action Now Is a Duty.
We must act now. at whatever
sacrifice TO ourselves. II is a
duty which the circumstances for
bid us TO postpone. I should be
reCreant to my deepest ConviC-
tons OF public obligation did
not press IL upon you with sol
emn and urgent insistenCe
The principles upon which we
should act are also clear. The
country has sought and seen its
pith in this matter within the
last few years-sees Il more
clearly than when the last leEisla-
tive 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 CON
tracing credits of everyday
transactions, the normal ebh and
flow Of personal and corporate
dealings
Our banking laws must mObil-
ize reserves: must not permit the
concentration anywhere in "a few
hands of the monetary resources
Of the country or their use for
speculative purposes in such vol
ume as TO hinder or impede or
stand In the way Of other more
legitimate, more fruitful uses.
And the control Of the system
of banking and of issue which
our new laws are to set up must
he Ur1hI7r NOT y4riy-ar "a r.,1Fet no