Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-04-06
REGIONAL BANK
FITS ATLANTA,
YSF0RBE5
Unparalleled Growth Is Predicted
for Trade Center-0ther
Choices Not So Wise.
By 3 c. FORBES.

The start made by Mrssrs VII
lams. M.Adoo and Houston in inau-
gnraung tbe oountrys neH banking
system IS not altogether inspiring.
For taese main reasons
j Too many reserve cities-t~elve
have been selected.
Inumauons are made officially
that this number- the maximum al
lowed under The present law VIII be
increased later
3. The Inclusion of Richmond, the
home city Of John SHELTON Williams
and The exclusion Of more important
centers In that territory reveals pet
~ personal politics rather thdn
craftsmanship.
Financial Interests have compliance
ever since Williams went 10 Wash
ingt0n that the Treasury Department
has been run not primarily for the
benefit Of the country, but on partl-
san. pin headed lines, dictated by
personal considerations After the
recent hubbub at Washington over
Mr. Williams part in the Munsey
Trust Company deal, u was not be-
lieYed he would readily lay himself
aNihrA 10 AAf"lt ~ itr+aAilf INV VOL AAf
NAV have recalled that the selection
Of "Pendnl Of Peoria" az Russian Am
bassador made that Tx famous, and
that the least he could do was 70 add
10 the fame and financial standing OF
his own city,
Richmond Is NOT n natural reserve
city It's cloartngs are not half those
~ New orleans. for example. and are
far below those Of Galveston and
Houston Moreover IL is not. great
railroad center II is not booming in
dustriouslg like so many other south
ern cities Now however that Mr.
Williams has succeeded In laying an
enormous territory under tribute TO 1t
Its reserve banks capital viii be
much larger than several others
Richmond may prosper at the expense
Of neighboring cities not fortunate
enough TO have a favored son at
court
The appearance Of Dallas In the list
had not been generally expected, but
i,s selection was influenced largely by
geographical reasons and Is not open
10 unreserved condemnation
Atlanta's inclusion was mandatory
in view Of its location, its Importance
and its prospects OF enormous growth
Those best able to Judge predict
phenomenal expansion for Atlanta
and now that It VIII become great
banking center, its future Will be
brighter than ever
The ORGANIZATION Committee errs
Rrievously IN encouraging agitation
for increasing the number Of reserve
banks It's break" win foment con
slant clamor for tho realigument OF
the country's reserve districts, Be
sides, the principle is wrong
WRONG in capital letters
My 0rm belief Is that the course
mapped out by the present powers
that be can lead TO only one culmina-
lion, namely the Abandonment Of the
multiplicity Of district reserve banks
and the establishment OF one com
maudiug central bank That is the
scientific solution OF our banking
problems. and sooner or later science
must triumph over politics and par
usanship.
Meanwhile the regional system will
be given "a fair trial Even those who
opposed 10 most vigorously viii rally
no IT, support Several changes win
become cocssary very shortly after
the machiner, has been started of
that there is no doubt among those
who can see Clearest and farthest
but the best win be made OF the APP
piiarces provided