Atlanta Georgian., 1914-04-06
REGIONAL BANK
FITS ATLANTA,
SAYS.FORBES
Unparalleled Growth Is Predicted
for Trade Center-0ther
Choices Not So Wise,
BY B. c. FORBES.

The start made by Messrs. VIII
-sms. McAdoo and Houston IN inau-
surating the country's new banking
system is not altogether Inspiring
For these main reasons
l. Too many reserve cities twelve
have been selected.
. Intmations are made officially
that this number-the maximum al
tnNed under the present laW-Will be
increased later.
3. The inclusion OF Richmond the
home city OF John SHELTON Williams
and the exclusion of more important
centers in hat territory, reveals pet
~ personal politics rather than
statesmanship
Financial Interests have complaine
cver since Williams went to Wash
ngton that the Treasury Department
has been run. not primarily for The
benefit Of tho country but on parti-
San u-headed lines. dictated by
ersonal considerations. After the
recent hubbub At Washington over
Mr. Williams part in the Munsey
Trust Company deal, i was not be-
lieved he would readily lay himself
apen 10 fresh criticism However, he
may have recalled that the selection
pf "Pendill Of Peoria as Russian Am
passad0r made that ilk famous. and
hat the least he could do was to add
10 the fame and financial standing Of
his own city.
Richmond Is NOT natural reserve
'ity It's clearnss are not half those
pf New Orleans for example and are
far below those of Galveston and
Houston Moreover. it is not great
railroad center II Is not booming in
lustriously like so many other south
ern cities Now, however tmat Mr.
Williams has succeeded i'm laying an
,normous territory under tribute to it
its reserve banks capital will be
much larger than several others
Richmond may prosper at the expense
Of neighborine cities not fortunate
enough to have a favored son at
court
The appearance of Dallas in the list
mad not been generally expected but
is selection was Influenced largely by
geographical reasons and is not open
20 unreservcd condemnation.
Atlanta's inclusion was mandatory
In view Of its location its Importance
and its prospects OF enormous growth
Those best able 10 Judge predict
phenomenal expansion for Atlanta,
and now that 1t will become great
banking center. Its future VIII be
brighter than ever
The ORGANIZATION Committee errs
grievously in encouraging. agitation
for increasing the number of reserve
banks It's "breakH win foment con-
stant clamor for the realignment of
the country's reserve districts Be
sides. the principle is wrong
WRONG in capital letters.
NV firm belief is that the course
mapped out BY the present powers
that be can lead to only one culmina
ton, namely, the abandonment of the
multiplicity Of district reserve banks
and the establishment OF one COM
mandine central bank That is the
scientific solution Of our banking
problems, and sooner or later science
must triumph over politics and par
tisanShip.
Meanwhile. the regional system viii
be given a fair trial Even those who
opposed il mos, Vigorously viii rally
10 its support Several changes VIII
become necessary very shortly after
the machinery has been started -of
that there is no doubt among those
' no can see clearcst and fartHest
0ut he best viii he made Of the ape
pliarces provided
May let the cat out of the bag as