The Birmingham age-herald., 1914-05-05
MT. Harding Honored

President Wilson's selection of w. P. c. Harding, president of the First National bank of Birmingham, to be a member of the federal reserve board is not only distinct honor to an individual, but one that reflects honor upon this entire community.
 No national legislation has ever had such important bearing on the fi- nancial world or upon large com mercial and agricultural interests as the banking and currency measure which was enacted into law few months ago. The reserve board will have large powers, and the new law can be made most helpful to every business center in the United States if it is ably administered. Under the law there can be no more bankers panics, while there are provisions in the measure that can be employed to bring about manifold improve ments in our currency system. It was a matter of greatest concern, therefore, that able and disinterested men should be selected for the board.
 Secretary of the Treasury w. c. McAdoo and Comptroller of the Cur rency John Skelton Williams are ex- officio members and the other five are especially strong men.
 The President selected Richard Olney for the governorship of the board. Paul M. Warburg, a mem- Der of the banking firm of Kuhn, Loeb & Co. of New York, who is to be on the board has been very close to the administration, and was known to have been most helpful in suggestion when the bill was approaching it's final stages. Harry A. Wheeler as vice president of the Union Trust company of Chicago and president of the Ma tional Association of Commerce, whose name had been for sometime on the presidential slate for the federal reserve board, will be recognized as a man of wide banking experience. And Adolph c. Miller of California while not a banker, is an economist of notable achievements and uncom- mon force of character. Thus it is seen that the federal reserve board as announced from the White House yesterday is in it's personnel all that the country could ask.
 As highly qualified as the other gentlemen selected are known to be, Mr. Harding will measure up to the best of them, both in his broad aspect of business life and in his ready re- sourcefulness. Not having been off cially notified of his selection, MT. Harding would not intimate last night whether or not be would accept. If MT. Harding accepts he will not only have to sever his official connection with the bank, but in compliance with the law, will have to sell every share of his stock.
 As president oDthe First National bank, Mir. Harding has greatly aided varied business interests. He has been one of the most progressive of Birmingham's upbuilders; but should he decide to go on the federal reserve board he would become at once a con spicuous national figure and would wield great power in the conserva- tion and development of the nations financial resources.
 It may be assumed that the direc- tors and stockholders of the First Ma tional will be loath to let him go if he elects to accept the Presidents appointment; but no matter what be the outcome the people of the Bir- mingham district and of the whole state of Alabama cannot fail to ap- preciate the honor that has been done MT. Harding and tender him their cordial congratulations.