The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-06-24
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Minnie mastery of their own within
y III wxsfs Vow both the tonic ana
ssxhN discipline OF liberty and maturity
Z Nre TO ensue. There will be some
Establishments OF purpose and point
81 view. There will follow a period
IT Expansion and new enterprise.
conceived. , Il Is fer rs to de-
sermine now whether II shall be rapid
> Nnd efaciln and Of Easy accomplish
4 merit This it can nos he unless the
ssTsxourceful business men who are to
adeal with the new circumstances are
TO have at hand and ready for use the
q iffssrumentslities and conveniencer OF
free enterprise which independent
q men need when acting on their own
Initiative.
Constructive Work Needed.
II Ia not enough TO strike the
shackies from business The duty OF
statesmanship Is not negative merely.
II Is constructive also. We must
show that We understand what bust
ness needs and that we know how
10 supply II. No man, however casual
and superficial his observation Of the
Conditions now prevailing IN the coun-
try. can fall to see that ORD Of the
chief things business needs now. and
4 win need increasingly as II gains in
scope and vigor In the years imme-
diately ahead of us. ia the proper
means by which readily 20 vitalize its
credit. corporate and individual, and
rs uriginative brains What VIII Il
profit us 70 be free X we are not TO
have the best and most accessible In
strumentslities Of commerce and en-
tsrprise? What will II profit va TO be
quit OF one kind of monopoly II we
-. - IT, ~ ,,Fa p1 ~ flfr
and moro effective kind? How are
we 20 gain and keep the confidence
OF the business community unless we
show that we know how both to aid
and 70 protect IT, What shall we
say - we make fresh enterprise neces-
sAry and also make It very difficult by
leaving NJ else except the tariff just
as we found &? The tyrannies Of
business n.E and little. Ito within the
field Of credit. We know that. Shall
we not act upon the knowledgeg Do
we not know how 10 act upon III II
q man can not make his assets avail
able at pleasure. his aRsets Of capacity
ana character and resource, what
satisfaction Is Il to him to see bppor-
Unity reckoning 70 him on every
hand, when others have tho keys OF
credit IN their pocketssnnd treat them
~ all but their own private possess
Zion? II is perfectly clear that II 10
cur duty TO supply the new banking
4~~ AAa-~curr sncv system the country
needs, and that Il will Immediately
y neaAp3txEnore than ever,
The only question ia. When shall we
suprlyA4t--now, or later, after tho do
MlA10NsHhali have become rYoroaches
.fhnf ~ were 80 dull and so slow?
aAAaf M. hasten to change the tariff
iGwseAndethen be iagwards about max
INV ftepoxsibfe 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 Ia a
duty which the circumstances forbid
ns to postpone. I should be recreant
10 my deepest convictions or public
obligation did not press II upon
you WITH solemn and urgent insist
snce.
The principles upon which we
should Act are also clear. The coun-
try has sought and seen its path in
this matter within the last few years
sees II more clearly now that II ever
saw II beeore--much more clearly
than when the last Legislative pro-
posals On the subject were made. We
must have currency, not rigid as
now, but readily. eiasticaIIy respon-
stve to sound credit. the expanding
and contracting credits Of everyday
trHnsact,on the normal ebb and flow
Of personal and corporate dealings
k343Wr Ranking laws must mobilize re-
j 1erves: must not permit the concen-
q trAkion anywhere In a few hands of
HRlhe monetary resources of the coun-
81 tfy er their use for speculative pur-
II pose4 In such volume as to hinder or
&S&bSp6Ae or stand In the way of other
faofe legitimate. more fruitful uses
Y AID 1sthe control Of the system of
4 hknlxtng and Of Issue which our new
n 3HwsA are to set up must be public.
a mot private. must be vested in the
Il RovArnment itself. SO that the banks
yasf pc the Instruments, not the mas
i tors, of business and of Individual. en-
tsrprise and initiative.
4 a. Ready to Help.
Il The committees of the congress to
" which legislation Of this character 10
referred have devoted careful and
dispasssonate study TO the means of
4 accom- plshing these objects, They
E, have honored me by consulting me.
They are ready to suggest action.
] have come to you, az the head
Of The government and the respon-
/. Ebie leader of the party In power. to
4 3Nr6esAction now, while there Is time
tnsssEve the country deliberately and
e9sws should. in clear air of COM
u tncn Fcounsel appeal to you with
deep conviction OF duty. l believe
B that you share this conviction. /,
& therefore. appeal to you with conf
4ence. am at your service with
q Cnt reserve to play my part In any
wayvyou may call upon me TO play
Il It. In this great enterprise of exigent
7 teforn which II VAL dignity and dis
& ttnEuish us to perform and discredit
II tiSsto neglect