The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1915-05-25

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quyrvr,
Bankers Talk
a Barton Hepburn of the Chase VA
ton bunk Of Sew York, who followed
In Trlunu drrhfcd that he was glad
to hear representative of the other
Americas advance their idea that the
Monroe doctrine mean, America for
Americans, applied 10 them
Mortimer l.. Schitf, New York, spoke
Of some Of the things that the southern
republic should keep In mind when
seeking To find a market In the United
States for their securities lie said
short term loans should he avoided.
Hamlin First Speaker
Gov llamiu Of the federal reserve
board the first speaker at toduy's gen
erul session Of Pan. American financial
conference told the delegates that the
United States never before was I'm the
position 1t occupies today 10 extend
It's trade hy granting credit To- those
nations wishing tu hr its customers.
This conference was declared 10y
the governor lo hr an event of deep
significance to the whole civilized
world.
II believe suid hc, "thr world rcul
lies today that the prosperity Of the
people Of one nation In the long run
tends 10 the prosperity ~ other ma
tions, while the adversely of one pco-
pie ultimately must tend To the ud
ycrlty ur others Just as the iudi
vldum pro,pcrs best when his country
pruspcrs, so the untiuu prospcrs best
out Of the prosperity uf all nations. 10
Mr. llumlm said hr would leave to
others II detailed explanation NJ how
the financial resources ut the United
State, have been strengthened by the
federal reserve act, but he yrnturcd
the prediction thutthc banking system
uf the nation through that act will
become zone uf the strongest systems
In the world
Reviewing the history ot financial
legislation which followed the panic
Of 1907 aud skrtchlus the operations
uf the reserve act, hr added
4 think that growing out of this
banking system the time has come FOR
90 marvellous expansion In our foreign
trade and especially with South Amer.
/ iuu and that AN opportunity Is given
/ tu finance for trade such us never hu,
/ been possible
One War Lesson
Nrvd for greater reliance uu thviI
I own resources Is one lesson the Euro
/ pea war has brought home tu the ma
tlous involved, In the opinion Of Pau
W. Wurhurg. who spoke today
|ut the conference Mr. Wurhurg
pointed ont thui when the war began
England then nrtmr us banker for IN,
world felt forced tu usk Tor some ui
| the vast sums due her and that thi,
request WINS reflected IN varying dc
grrrs I'm countries Nm her debt H.,
spoke of the acute situation Witch re-
suited in this hemisphere and added
"rhr lesson nll American nation,
F viii have tu learn from Inst Years vN
pcurUrr &. tmi 1t is uuwisr for th,
world tu uMrp its financial dcppudcur,
upon any elhEIt mutton uuu Ihul those
who can afford to du ,o. us FOR lu
stance the United States should from
this time ON. adopt policy NJ greater
reliance upon their own resources
/ Those countries which cuwuot rely cN
rusiyely upon their own rcsuurrr,
. should divide their risks of financial
dependence us evenly os and ms widely
as possibly they Nn
There rs mo- difference W couscr,a
tive opinion that the United State,
ducs NOT aspire now tO take the pluc,
NJ Eurupc's lending financial powers
Our own field NJ operations O, stIu tu,
vast to enable us or tp regard II a,
even advisable to become the world,
/ banker ot this stage uf uur own de
+ yr'ormput But the safety NJ an coun
tries anl We include England pmuu.