Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-04-06
REGIONAL BANK
FITS ATLANT IA,
SAYSF0RBES
Unparalleled Growth Is Predicted
for Trade Center-0ther
Choices Not So Wise.
sv q c. FORBES.

The start made by Messrs, VII
liams. McAdoo and Houston in inan-
gura ling the countrys new banking
system is not altogether inspiring.
For these main reasons
J. TOO many reserve cities twelve
have been selected
limitations are made officially
that this number-the maximum al
lowed under the present law--will be
increase 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
ty personal politics rather than
statesmanship.
Financial interests have compliance
ever since Williams went to Wash
ington that The Treasury Department
has been run. not primarily for the
benefit OF the country but on parti-
san. headed lines, dictated by
personal considerations. After the
recent hubbub at Washington over
Mr. Williams part in the Munsey
Trust Company deal, II was not be-
lieVed he would readily lay himself
open TO fresh criticism. However, he
may have recalled that the selection
Of "Pendul Of Peoria" as Russian Am
hassador made that Tx famous, and
thai the least he could do was TO add
10 the fame and financial standing of
his own city,
Richmond is NOT a natural reserve
city. It's clearings are not half those
Of New Orleans, for example and are
far below those Of Galveston and
Houston Moreover. it is not great
railroad center II is not booming in
dustriOusly like so many other south
ern cities. Now, however, that Mr..
Williams has succeeded in laying an
enormous territory under tribute to it
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 favored son at
court
The appearance Of Dallas In the list
had not been generally expected. but
It's selection was Influenced largely by
geograp hical reasons and is not open
10 unreserved condemnation.
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 win become a great
banking center, its future viii be
brighter than ever
The Organization Committee errs
Rrievously in encouraging agitation
for increasing the number OF reserve
banks. Its break" will foment con
slant clamor for the realignment Of
the countrys reserve districts. Be
sides, the principle is wrong
WRONG in capital letters
NV firm belief is that the course
mapped out by tho present powers
that be can lead to only one culmina-
ton. namely. the abandonment OF the
multiplicity OF district reserve banks
and the establishment OF one COM
handing central bank That is the
scientific solution OF our banking
problems. and sooner or later science
must triumph over politics and par
tisanship.
Meanwhile. the regional system will
be given a fair trial Even those who
opposed it most vigorously viii rally
10 It's support Several changes will
become necessary very shortly after
the machinery 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 ap-
pli8iCeS provided