The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-08
By LOUIS I. JAFrE.

By LOUIS !. JAFFE.
Wilson. n. c., January with
hand outstretched in welcome to the
Richmond reserve bank apostles and
tho goepel they brought with them. the
city OF Wilson this afternoon. speak
lug through "a representative gather
ing OF it's Chamber OF Commerce. pledg-
cd It's undivided support TO the move
ment for tho appointment Of Rchmond
rs the location for one of tho regional
reserve banks provided by the new
currency act
The city evidenced its live interest
In the issue by sending 10 the meeting
gathering OF merchants, bankers and
professional men that crowded the as
Bcinbly room OF the Chamber OF Com
ncrce building to it's doors. Members
continued 10 come after the meeting
was called 10 order by President Law
renee Brett, of tine Chamber OF Com
merce nliuy silently in to hear fellow
citizens discuss the momentous ques-
ton In hand.
Sentiment UnmistnknbIe.
There was no way to mistake the
sentiment of the meeting. Speaker af-
ter Bpeaker gave IL as his opinion that
North Carolina particularly this sec
lion OF North Carolina, could under no
circumstances favor any city but Rich
inond for designation as the regional
reserve point. W llN t Ollttt
tion from President Brett for COM
pietc expression OF opinion not q elm
gle member OF the large gathering
vcntured TO brave q differing view.
Former Congressman F.-A Mood
ard now "A member or the North Caro-
lima State Legislature, summed up the
sentiment of Wilson's business men.
with the statement that for selfish con-
sderation alone, If for 10 other rea-
son. this section OF North Carolina
would feel constrained 70 stand by
Richmond.
Personally" said Mr.. Woodard. 81
am for the appointment OF Richmond.
The resources OF that city as they
have been SO well outlined 10 us by Mr..
Scay, convince me more strongly than
ever that there is every reason why
Richmond should be appointed.
Colonel John l.. Bruton. president
OF the Fi-<c National Bank said That
Rich,nouds claim had h.en presented
SO clearly and so c. i.vrcingly that
lie could not see how Wilson could
avoid indorsinG it, Til same view
was held by President > II. Anderson,
Of The i:r:,:'ch Banking Company, who
told the large r:tth,t i!t that only
hichmond would satisfy him J. Et-
tinger, :, director in the First National
Sank, and one OF the ci,Y's biggest
merchants. said that. cv"rything con
sldercd, Richmond was the one place
for the location for a Federal reserve
bank TO serve this :ectlon of the coun-
try. CI,on the motion OF cS-Congrcss
man Woodard, a committee consisting
OF President Brett. of tho Chamber OF
Commences: President Anderson, OF the
Branch banking Cor pany. and Prasf
dent Bruton, of the F.rst National
Bank. was appointed with power to
draft resolution expressing the sense
cf tho Wilson Chamber Of Commerce.
10
ment, and within ten minutes issued
a statement declaring its conviction
that Richmond was the logical point
Tor the location of regional reserve
hank to serve this district and the
South, and committing tho city of
Wilson and its Chamber of Commerce
TO resolution callir,; upon North
CGrolina'S Rcprescnia tiveS in Congress
TO use its influence in securing Rich
mond's appointment.
Chairman Brett, OF the committee
eaid that formal resolution embody-
ing the action OF Tie Chamber OF Com
incrce will be plep pared at once and
fo,~ arded to Secretary McAdoo and to
each OF Narth %nloiina'5 Representa-
tiYcs in Wasnintton.
Seay Heard With interest
The meeting was marked by the deep
interest with which il received the pre-
scntation OF the regional bank uues-
ton -Dv George j. Seay. The Richmond
tinancier spoke for thirty minutes uDon
the general provisions of the currency
act and the desirability of creating in
the South Federal reserve zone
homogeneous in interest and served
by a bank essentially Southern in char
meter directed ny men who know the
SoutE's needs. 1t was clear that Mr.
Seay's argument went home. The
gathering rallied spontaneously to
the support of his proposition that
North Carolina and South Carolina and
Virginia form n commercial group
which should be maintained in it's in
tirety as concerns it's financial opera
tions, and that the founding of a Fod-
eral reserve bank in Richmond would
best SubServe that end.
Herbert w. Jackson spoke briefly
and with no less conviction. He was
back home where people know him as {.
hoy and what he said struck home. Rich
mond lends $10,000.000 of its funds to
North Carolina and prefers to lend
there. he said, because it feels that it's
relations with North Carolina are
closer and more intimate than with any
other neighborinG State. 1t was alb
solutely essential to the welfare of
both, said Mr.. Jackson, that the two
States remain coupled together in a
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