Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-20

the lumber and naval stores. Its
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 a 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 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"
A 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:
II have absolute confidence that the
currency bill will bring new free
dom to the American people, and that
| it will be especially beneficial to our
own section. I look forward with alb
| solute assurance to a period of great
| prosperity, and this section of our
| Union is now known everywhere to be
| the section to which will come the
| greatest growth"
| He urged all of the banks to enter
! the new system, especially enjoining
| the State banks to come in.
1T is my judgment" said the Sen
| a tor that the bank which does not
avail itself of the benefits of the
| banking and currency law will find it
more and more difficult to maintain
list of depositors against a bank
which is a member"
Presenting Atlanta's claims, he
said:
Gives Atlanta's Records.
| zone OF the arguments which ! have
presented was that in the center of
! our Southeastern section we have a
| city which leads all the South in
postal receipts; which led all the
South in 1912 in the erection of new
| buildings: which is second only to
New Orleans, and barely behind her,
| in clearing house receipts. and the
growth of which in banking capital
and bank deposits has exceeded dur
| in. the past ten years any city IN the
South.
Il have been gratif1ed to see that
| banking experts in New York, Boston,
| Philadelphia and Washington have
| nearly all agreed that the Southeast
ern section should contribute one Of
| the reserve districts. and that 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 somewhere be-
| 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"