Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-21

the South, with large proportion of
the lumber and naval stores. It's
population is thirteen million people,
and their banking power. including
capital, surplus and deposits, is one
billion dollars.
Atlanta is the largest and best
equipped city in this territory, with
more varied industries and more OF
the elements of business highly de-
veloped than any other city between
the Potomac. Ohio and Mississippi
Rivers. Its banking power is i'm
mensely greater and its connections
more far-reaching than those of any
city in the Southeast
Atlanta Gateway for All.
The Southeastern territory in an
economic unit, with a homogeneous
population, one in blood and interest
with institutions practically the same
throughout and with highways OF
commerce centering in Atlanta.
The movement of products. which
from the basis Of exchange, is natur-
ally through Atlanta as gateway
Here the stream of traffic coming
down the Appalachian Mountains
meets the stream from the West, and
through Atlanta this immense traffic
is distributed through the Southeast
The same Is true of mail and ex-
press. 1t is the most economical
course for the movement of currency
and exchange.
In a word, Atlanta Is the center and
metropolis Of the Southeast, and the
Southeast will be economically the
most potent region in the country
when its resources are fully devel-
oped."
4 feature Of the luncheon was IN
address by United States Senator
Hoke Smith, outlining the provisions
of the new currency law.
Smith Lauds Money Act.
In explaining to the assembled
bankers the scheme under which the
new financial system will operate
Senator Smith said, among other
things:
Il have absolute confidence that the
currency bill will bring a new free
dom to the American people, and that
it will be especially beneficial to our
own section. / look forward with alb
solute assurance to period of great
prosperity, and this section of ou1
Union is now known everywhere to be
the seetion to which will come tbs
greatest growth"
He ureed all of the banks to enter
the new system, especially enjoinine
the State banks to come in.
TT is my judgment" said the Sen
ator, that the bank which does not
avail itself of the benefits of the
banking and currency law will find II
more and more difficult to maintain
a list of depositors against a bank
which is a member"
Presenting Atlanta's claims, he
said!
Gives AtIanta's Records.
"One of the arguments which / have
presented was that in the center Of
our Southeastern section we have g
postal receipts; which led all the
South in 1912 in the erection of new
buildings; which is second only Il
New Orleans, and barely behind her
In clearing house receipts and the
growth of which in banking capita
and bank deposits has exceeded dur
in the past ten years ans city in the
South.
81 have been gratified to see thai
banking experts in New York, Boston
Philadelphia and WASHINGTON have
nearly all agreed that the Southeast
ern section should contribute one OF
the reserve uIStIlClS, anu tlldl d re-
serve bank for the district should be
located at Atlanta.
"a reserve bank will in all proba-
bility be located at Boston. one In
New York and one somewheresbe-
tween New York and Atlanta. A re-
serve bank will naturally be located
in Chicago, st. Louis and San Fran
cisco.
Beyond this I am not able to give
an indication