The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1914-01-24

New York" was he'd In that city OF
Monday night. According TO The Sun
II was attended by Representatives Of
cyery powerful banking interest CT th-
country, representatives of every i'm
pcrtant bank in New York, general
financiers and the reads of great in
dustr.al and railroad enterprises .
while finaclers of the great banking
nations CT the world, Germaus, Frame
and England were guests and Ppeake. 3
CT the evening. Two features stood
cut as distinguishing the occasion.
the foreign bankers Congratulated the
United States On having AZ last
banking system founded on scientific
principles and welcomed this country
to the realm OF international finance.
and the New York bankers pledged
their support to the success OF the mex
currency law.
Robert Mason, Of the Credit-Lyo1.
nails, congratulated the United States
on its new system OF currency 1T Will
be a great relief to all concerf ed he
said. to know that the American mar
ket will henceforth be spared the any
ieties OF 1907" j. II. Simpson, manag sr
of the Liverpool bank, aroused enth.,-
siasm by telling the bankers that now
the United States las its ne y law ii
must participate in the international
discount market. That is to say, the
United States is for the first time con
stituted ty reason Of It's banking regu-
laticns, TO take part IN great interI;a
tional financial exchanges.
James s. Alexander, president of the
association and OF the Natioral Bank
Of Commerce, pledged the he,,, OF New
York to make the new federal reserve
law success. He included IN his re-
marks the expression OF an opinion
that there were points IN the law that
might be improved . promised tha
the big bankers wo..:d point them OFT
as defects developed end declared thst
1t was net 60 be doubted they would be
corrected upon pr per showing. The
general note OF the occasion was on
of supreme optimism and there were
indications of relief at the relaxation
OF tension under which the country
has long strained, and disposition.
to find opportunities for new entct-
prise in the field of legitimate finance.
All of this comes about within u fe@
law against which the big bankers
were railing and of which they Were
lamenting but few months since, ann
1t Ia very creditable 70 the g cd sense
OF the bankers Of the country that
they have come SO soon to d reason
able view and are determined to make
the best Of what has been gwen the
country and what has been done to
make stable the financial world they
have their being. But more than ali.
Is ii a tribute to the wisdom of tie
policy of President Wilson In insistin !,
on the passage of a currency law with
cut delay, which. If ii may lack finish
and present some points that will haze
to be reshaped as experience shows
their crudity, is yet Lased on true pr;n-
cipies of banking and makes it possi-
bic for the iinanciers of the United
States to aspire for the first time -
their rlghtful place N the world. Tho
currency law enacted by the Democrat
ic party Is likely to prove ole of tha
most salutary pieces of legislation
ever passed by the American congress
and when the bankers think upon the
fact that 1t is less tat eighteen years
since they and their kind were march
ing up Broadway IN the solid phalarX
of the sound money parade, to Pro-
test against the financial haresy OF
that same party, they must be impress
ed with the remarkable power of ro-
cuperation of political body beneath
the rule Of men entirely great"
And, it is gratifying to see the bank
ers sitting up and taking noulishmenc
again after their prayer and fasting.
--~-----@------t -
The Japanese minister of foreign af