Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-15
Chattanooga, Columbia and Sa-
vannah Claims Are All Heard as
National Committee Brings to
Close Its Session in Atlanta.
Representatives Of the Various
Southern Cities Are Held Down
to Plain Facts in TaIks-Pan-
ANA Canal. Discussion Barred.

The hearings of the Reserve Bank
Organization Committee closed at
AIS p. m. Saturday at the conclusion
OF a strong plea by Senator Hoke
Smith for the institution of two re-
serve banks In the Cotton Bet, one
to be in Atlanta.
Il strongly counsel" said Senator
Smith, that under this bill the South
and Southeast should each receive d
separate reserve district and have a
separate reserve bank
when the bill came to the Senare
it had provided only for four banks,
and there we increased that number
to from eight to twelve for the ex-
press purpose of providing at least
one and perhaps two banks for the
Cotton Belt We want them, and you
gentlemen should see that we get
them.
Atlanta is the gateway to the
South and the logical place for the
location of such a bank Independent
business organizations have investi-
gated this Southern territory and
freely chosen Atlanta as their head
quarters, proving that this is the log
ical gateway to the South in the nat
ural channels of trade.
1--WE can make such a bank self
sustaining in this territory without
the aid of banks in the North
There was much applause Of Ser
ator Smiths address, following which
Secretary OF the Treasury McAdoe
asked II representative from
Charleston were present
AS no one answered, the Secretary
declared the meeting closed. The
committee will leave Atlanta Sunday
morning for Cincinnati, where the
next hearing will be held.
Do Not Need North.
When the Saturday hearing of the
regional bank claims was adjourned
for luncheon at 1850 o'clock, Chat
tanooga, Columbia and Savannah had
been heard, and the national commit
tee was well under way with it's hear
ing of Birmingham, the last of the
cities to present its claims.
B. F. Taylor. Columbia banker.
stated that Columbia was not at all
in sympathy with Atlanta as a re-
gional banking point and recommend
ed Richmond as second choice after
his own city
Savannah Not Good Center.
Savannah would be a good point.
so far as Columbia Is concerned" he
stated but it would not be a good
reserve banking point for the entire
region"
There was some disagreement as.
to the proposition that the trend of
trade was followed by the trend OF
banking paper. Mr. Taylor held that
the first had no effect on the second.
while E. j. Watson, South Carolina's
Commissioner of Agriculture. was of
the opinion that banking should fol-
low the trend of commerce.
THE opening OF the Panama Ca
nal" Mr. Watson began, but Secretary
Houston held up both hands in pro-
test
please DON'T" he Headed. That
canal has pursued us all over this
country"
Mr.. Watson took another tack.
Joseph F. Gray. Of Savannah, rep
resenting the Chamber OF Commerce
and clearing house OF that city was
the chief speaker for his delega ton
Savannah handles the greatest
volume Of basic commerce on tho
South Atlantic seaboard," he stated,
"and Savannah finances a greater
portion of that commrce than any
other city or group of cities in the
South"
Mr.. Gray laid great stress upon Sa-
vannah's importance in connection
with the export trade, until Mr.. Nc
Adoo asked If the export trade we're
not negligible in comparison with TIE
domestic trade.
The district suggested by Savannah
included North and South Carolina.
GaorSls- Florida. Alahana Aad Sputh-