Norwich bulletin., 1915-02-09
BOARD OF TRADE
 ANNUAL BANQUET
(continued from Page Five)

the country q long time to recover. The Federal Reserve banks should change all this and should be able all ways to offer credit to their banks at reasonable rates. 50 that any bank can, by rediscounts, obtain the means of taking care of its customers alike in good times or bad, and should insure to every merchant and every nanufac- turer such credit as he may be en- titled to at fair rates, SIS his bank Of deposit, through the Federal Reserve banks. has at it's disposal the fa.cii- ties for taking care of such needs as they arise.
 Financial Millennium Net Here Yet. In closing. I would call your atteu- ton to the fact that the financial structure of the country IS an enor- nlously complex one; that the financial nilleniutn did not arrive on Noven- Der 16 1914, the day when these banks were opened; for it will take a long time to get them in complete and sat isfactory operation; but on that day was inaUguFated 3, banking plan that in it's fundamentals embraces the es- sertials of the successful banking sys- tens of Europe. and those contained in almost every bill for q, scientific inn provement of our banking system of fered in the last twenty years.
 Scientific and Sound.
 The law is scientific and sound in principle, and it certainly is not un- fair to bespeaiI from all those who for many years have f2een looking for bet ter financial legislation their patient and patriotic cooperation. Changes will, without doubt, from time to time be made in the law. as no such far reaching law could be made perfect in it's original draft. but the Federal Reserve act is the law Of the land, and is, in my judgment, the best insurance against the financial disturbances of the past that has ever been given to the banker and the business man, and should place this country in a. posi- ton, 50 far as it's monetary affairs are concerned, to maintain an equal place with the other great commercial nations of the world.
 Once more, MT. President and gen tlemerl, permit me to express to you my best wishes for the continued pros pei'ity and progress of the Rose of New England.
 Timothy J. FaIvey. '-AIr. President your excellency. your honor and friends of my home town" said MT. F'alvey as he arose to speak when next introduced by Postmaster King, and he went on to speak in ap- preciation of the welcome given by Norwich citizens to Governor Walsh and mentioned in the Warmest terms the love and respect felt in Massachusetts for Governor Walsh. whom the state felt was an inconpar- able leader who was recognized a4s the governor of the whole people
 Mir. FalVey spoke of his admiration for the rGen and the history of Nor wich and paid tribute to MT. Aiken, who, he said he knew was chosen for the goVernorship of the Federal Re serve bank, net fer political reasons. but because of his eminent fitness for the place
 Norwich Flying Machines Successful.
 Toastmaster King added word of comment upon the present day achievements of Norwich men in the fact that in recent flying machine trials made in New York, the news came that those made in Norwich were among the most successful and the prospects for the Norwich company were very bright.
 Congressman elect Freeman.
 Congressman elect Freeman was the next speaker introduced by Toastmas- ter King in d facetious way as he said that he hoped no one. would hold t against MT. Freeman because he came from New London
 Enthusiastic applause greeted the congreSsn1an elect IS he spoke as fol- lows:
 We. the people Of Connec5icut, have always felt 3 deep debt of gratitude to the citizens Of our sister common wealth of Massachusetts Why shouldn't we? Haven't they always done their very Goest for us? Didn't the Pilgrim Fathers, seeking to establish religious freedom, establish it so thoroughly that only those who thought as they did were at liberty to remain in Mas sachusetts, with the result that Thom- as Hooker and others had to come to Conncctieut and give Us our start in life? So again tonight Massachusetts has sent her best to Connecticut, with cile result that this annual banquet of the Norwich Board of Trade has not ended altogether in smoke For our intellectual smoke talk they have fur