Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-15
Strong Southern Feeling
Against Wall Street Cited

bank for Atlanta, to serve the terri
tory of South Carolina, Florida. Ala
bama Mississippi, Eastern Tennessee
and Western North Carolina.
Injustice has been done this sec
ton by calling 1t a borrowing sec
ton. They bring our bills payable
forward to show that we are Dor
rowers in enormous amounts. II you
will deduct 10 per cent from those
bills payable, you will have about
what we owe. The result would be
almost negligible.
Gigantic Reserve Funds.
You can deduct from our bills pay
able the gigantic reserve funds our
Southern banks keep in New York.
Philadelphia and St, Louis and the
amount of their deposits that have
gone outside the state because when
the reserve bank is located here these
funds will be brought back here and
kept all the time.
You gentlemen seem to feel that
the emergency borrowing clause in
the bill is a sort of fire escape and
should not be used except as a last
extremity ! say the emergency Dor
rowing. clause is put there to permit
banks to borrow from the reserve OF
plUtI bdIhS anu tliuS avert TIC ppS-
sibility of their being any fire, or in
other words failure.
AS a matter of fact, you couldn't
locate more than two banks in any
given section of this country where
they do not call upon other sections
of the country for financial aid at one
time or another during the year.
Even New York Asks Aid.
You can't locate any given sec
ton of the country that has not called
for help from other sections at some
time during the last five years. Even
New York has asked help in that
time
THE Cotton Belt States are enti-
tied to two OF the eight or twelve
banks you gentlemen are going to To-
cate. 1t is not simply through pride
that we ask this, but because were
growing rapidly in production. We
want a chance. We want practical
! open recognition. This currency bill
/ could not have passed in Congress
without the active support OF South
| ern and Western Senators.
| 'ln the Senate the bill was report
[ ed from the House carrying provision
| for only four banks, That was in
| creased after a hard fight for six and
| then TO eight, for the sole purpose OF
J making sure that the south shoulC
/ have at least one possibly two, OF
/ these banks
This section has the largest state
! east of the Mississippi River-Geor.
! gia. All the States in the territory
| outlined can conveniently come tC
/ Atlanta for their reserve bank service
! Third in Insurance.
Atlanta is the third largest insur-
ance headquarters In America, | an
| now showing you Atlanta's advan'
tages from the standpoint of accessi.
I hility and convenience. And this mat.
ter Of convenience takes precedence In
the bill over the matter of the natura
trend of trade.
The insurance, telegraph, teicrhon;
and supply companies. factories, indi-
vidual enterprises and large agencies
OF all kinds. acting fairly and indie.
pendently, looking to the best point OF
advantage for the distribution OF theii
products in all directions in the South
have chosen Atlanta
! "WhyP Because it's the logica
place for them to choose, The logica
place for you to choose"
Much laughter was occasioned by