Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1913-12-28
LOCAL BANKERS GIVE
CURRENCY LAW VIEWS
Relief Entertained That West VIII
Greatly Benefit Through Enact.
mcni ~ Financial Measure.


Gently enacted currency legislation
II wiiI be- noticed that four 81
The live gentlemen agree in M.
| opinion thsi the new regulation
Will prove beneficial 70 the country.
while The firth has not had the op-
/ porturity 20 thoroughly consider
Dad study the nov measure
= i Ware. Dfasident OF the ANA
rillo Sat.1na. Bank iu substance
glYe out The following
The now currency legislation o.
timely aud well done. u can only
result 10 GOOD 20 The country in gen
eTal, but more especially 90 the
west e all work some hardships
on bankers. but they will have %
~ used % h. and undoubtedly viii
Oe able ~ adjust themselves 10 the
Gaw regulations without serious ir-
Jury 10 their Interests Tho East
has heou .n power long enough. and
u Ia well 90 turn the control OF Yves
tern money over 20 Western banks
Cor change Tho Amarillo Va
tonal Will subscribe 10 the stock OF
a Regional Bank ss soon as the op
p0riuniis H offered why. th,
X owledgp that by this new Demo
cratic legislation mo financial 8frIu-
s'ncies or panics. which our coun-
Try has 90 frequently experienced boz
NE past ain DO physically mpossi-
bic should boz enough 90 secure for
u the enforcement OF every honest
man. whether banker or not
j l. Smith. president OF the Na
uonal Bank OF Commerce. in part
spoke OF the measure as follows
Under the old or present system
Wall street can make good or bad
times N viii They need no excuse
20 bring on a disastrous panic iu
this countr- other than that by 90
doing thee further their own sell
fish interests President Wilson and
his Democratic administration have
pat an end to panics by this new
law For ages Wall street has been
making what are commonly called
call loans They are simply advau-
ccs OF money for large scale spec
ulations or gamblings We Of 'he.
West have helped TO keep Wall
rect In gambling funds. The new
bin puts stop 20 this business as.
f8r as We ere concerned. rs tho
ueN regulations the bankers OF the.
West win keep their reserve funds
ir tho Western regional banks
Under the new regime wo may look
for interest rates TO become staple
and practically uniform Tho man
who borrows O. hundred dollars may
e,pcct 90 have the same cousidera-
iion aa the man who borrows ten
thousand There viii be- less fluc-
tua'ion in the money market, and
uulryelopod sections of the coun-
try like the Panhandle. viii Dee re-
loved largely OF that handicap of
money scarcity The National Bank
of Commerce b. heartily IN favor
of the Regional Bank system and
VII take stock In one as soon a. II Is
Oh leblished.
Ray Whcatioy. president of the
Amarillo BANK and Trust Co., brief
D. expressed himself upon the sub
jet as follows
~ is my belief that banking and
commercial conditions generally will
ho fayorably advanced under the
usV currency bill. as the provisions
of the act when property applied
win ohyiate financial calamity. at
the same time will not necessarily
create initiation Press reports and
letters indicate that baukors gen
orally will cooperate iu making the
law as passed successful adop-
ton Operating under the state law
Che amarillo Bank aud Trust Com
pany has not as yet decided whether
10 will exercise the option OF sub
sc-ibiug Tor stock IN the regional
bank
w " Tuqua. president OF che
First National Bank. stated that be
had as Yet formed no decided opin-
icn as To tho possible effects OF the
raw law IN 'act hc had uel read
tire bin IN its entirety or iu abbrcyi-
a-ed form. as finally passed ts 20
the response OF the national banks
throughout the country in .uhscrib-
ina To the stock OF the Regional
Banks. hc thought that ninety per
cont. Of them would do So While
come OF the smaller national hanks
VT prefer 10 iQuidate ~ change
into priyat, or state institutions.
tIe number thus eliminated will be
more than made mp b. state banks
which will ioin with the regional
stockholders The First National
pnl become a Regional stock sub
sCriher
c {. Chenoweih, president OF the
First state Bank. did not favor the
change Of that institution into a Re-
gional member. rcmarkins our in
s,itution In Dallas. which Is nov a
state bank. will undoubtedly make
the change. and this viii practically
give US the Regional advantages
without subscribing 10 the stock
ourselves strongly favor the new
Law ard believe IL will result IN un-
told good 90 the entire country