Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-01-01
tcoiinued from page ones

49,
ed In few lhds, mostly in the financial IAetrop-
| oils ef the United States, and have there been
Loaned on oh I'd further stock speculations and
in many Iineisl operations of doubtful char
aeteF.s ID .sf@ssg.. sssk,sFSg. , .sgsE .sss :
THE metbpoItan hanks find they cannot adj.
| equately Oh id their demand loans and the
| scattered (kneB of these reserves find they too
cannot sedire tie prompt return of their depBss
its, hence they ire unable to meet the financial
demands III thdr own localities sss.s e.sss,ss
Thus dbubld disaster is brought about and
the business ofthe country, both at home and
abroad, sIche&e led, curtailed and suspended in
! various degree and its extension blocked
II 1t has beeIrecognized for years that these
H conditions ard dangerous and called for wise
and creative lEislation. s#
n We have reson to believe sound banking and
currency legislation has, within the past week,
been enacted, for Congress and the President
sacrificing thtr own comfort, have for months.
Joined in effdts to accomplish that fundamen
tai object, aa4 that shortly its provisions will
be in Operatih. .z
II This legisltion will aim to prevent the con-
centration ofthe reserves of the country in one
central locally, also prevent their use, under
1.-THE private 9ntrol of a few, in the manipula.
ton Of stock manipulation of speculative, wa
tered organ ations, and trusts the combined
forces wilichare threatening and sitting to IN
Ediyidual andlocaI enterprise
1t will aih to give the several great sections
of the county control of their own financial re
sources and reserves, and permit closer relations
4 with and support of local development and bus
iress notwithstanding local ownership.
will povide for an elastic currency based
on unimpe8habIe safeguards of gold, sound Sc
eurity, andshorttime self liquidating forms of
eommercialcredits ~
The sysfm will be under control of officials
of the Fedeal Government whose integrity will
be found al unimpeachable as that Of the judges
of the Supreme Court of the United States
/ There lbs grown up large class of invest
ors who distribute their investments over a
great rane of securities covering an equally
great RANG Of objects, in no one of which have
they any direct personal relations, adequate
knowledge or interest, beyond income derived.
Theyhav no particular interest as to the bust
ness or financial morality of the organizations
or their pnduct. s1
These organizations have been conducted and
fmanagedlby so-called Captains of Finance and
Gaptains Of Industry. who have not feared to
place themselves above law and restraint and
even ab&e the interests of those they are pre-.
lsumed t serve. ta
While big business and big finance begin to
see the langer to their schemes they have been
inviting and the logical results of their acts,
they di4ke the prospect of effective legislative
Limitations and control.
The people OF the United States intend to
firmly, but with as little strain as possible, cor
rect Thase evils
! IRgilation teannot be much longer delayed,
land tht President of the United States is ems
deayorilg to clear the way for prompt consider
alton, and action. -.
| With the right of special commercial favors
reduced within reasonable bounds by competi-
ion-rr With Banking and Currency taken from
centralized private domination and placed un-
der government control trust business
foreea out Of its initiation |and water and into
definite and legitimate boinds, INDIVIDUAL
FREEDOM will have comparatively free and
safe. opportunity to engage in local and general
enterprise and afford the country, throughout
its bdfders, the strength of independent, morally
responsible business manhood. r -.
I5Believe the Territory of Hawaii will find it
self eventually benefited by these fundamental
|enaetihents, and trust the spirit of every manly
man will warm to this revival of character as
against sordid wealth. - .a
The particular problems of the Territory Of