The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1915-05-07
WOULD ESTABLISH NATIONAL
EANk In CANAL ZONE

w dSnillS Abll, NAY
Helm of Kentucky has plan to es-
tablish national bank at Ancon, in
the Panama Canal zone, with branches
elsewhere in that country. He would
call it the Pan-American bank and
give it a capital stock OF $4,000, 600,
divided into shares of par value of
500 each
Just before congress adjourned, Mr..
Helm introduced a bill to incorporate
the Pan.American bank and when the
sixty-fourth congress convenes he will
press it for action.
THE commercial tie-up resulting
from the European war has convinced
every thinking man in this country
that foreign trade is a vital element
in our domestic prosperity and that
the continents OF North and South
America have greater identity of in
terests than was ever realized be
fore said Helm. There never was
time when opportunity was knocking
SO loud at our doors. The commerce
and business of continent are within
our grasp. The manufacturing enter
prises in Central and South America
are very limited, and it is to this
matter that ! wish the attention OF the
country could be directed.
Few, if any, of the republics to
the south of us have the means of
transporting or delivering their prod
ucts to any other country. Under eX-
isting conditions all the trade OF Cen
tral and South Americal flows across
the Atlantic ocean, it ought to be
flowing from North America to Cen
tral and South America.
About the only means of creating
commercial and business relations
are banking facilities transportation,
press bureau and mercantile agents.
Under the federal reserve act a bank
with $1,0000O0 capital in the United
States can establish branch bank in
any of the countries in Central or
South America. This provision, in
my opinion, does not meet the condi-
tions. What we need is a bank of
sufficient proportions and magnitude
and importance and prestige to han
die the business of the continent.
THE government of the canal zone
is going to be just as stable and
steady as the government of the Uni
ted States. If we establish bank
on the Canal zone it becomes identi-
fled with the locality. Our govern
ment is behind it, That guarantees
confidence and makes 1t sure go.
The governments to the south of us
would be inspired with confidence in
the institution.
This is no new proposition. In
the SOS President Harrison approved
such a proposition, and Secretary of
State Blaine strongly advocated it.
We have appropriated $100,OO0,0O0 for
the army and $150,OO0,000 for the
navy; now let us do a little business
while We are doing so much fighting
let us do a little business while the
European governments are fighting.
England, France and Germany
have Central and South America alb
in the grasp for trade. There
is no reason why we should not cap
ture it. Let us sell a few millions
of Panama bonds and start a bank |
Let us start with $25,000,000, estab- |
fishing a good bank while we are at |
it. Let the government own the ma
jority of the stock ($13,000 000) and |
let it be under the control of the |
federal reserve board and under the |
inspection of the comptroller of the |
Let the remainder of the
stock be offered to the public and if |
any republic to the south of us wants
10 get in let it have an interest. We
will control the bank. We will not
permit it TO issue notes to circulate
as money, thereby eliminating any
possibility of expansion or contraction.
It could have no possible motive for
boarding money.
THE countries round about Pan