Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1916-10-21
WILLIAMS TELLS THE
g FARMERS OF BANKS
Comptroller Of Currency De-
tails What New Federal
Banking Act Means.
LOWERS INTEREST RATES

Indianapolis, Ind, Oct. 20.-John
Shelton Williams, comptroller of the
currency, speaking here today before
the Farmers National congress, de
scribed the relation Of the federal re-
serve law to the farmer and closed
with a personal statement brought
out by President Wilson'S recent al
lusion to attacks on the comptroller.
Il see that our president, in an ad-
dress at Shadow Lawn" said the
comptroller, tells the country that
the bankers, or certain bankers, or
some special interests, are after my
official scalp because /, as the comp
troller of the currency, have~enforced
the law. This is no Surprise to me.
Il know that l have been held I'D
as kind of ogre, raw head and
bloody bones, terror to the banking
and financial interests of the country
Perhaps the best answer to that may
be found in the records and indisputa-
Die facts that the national banks of the
country today are> stronger and in bet
ter. condition than ever before; that
they are more numerous than when |
became comptroller, are more pros \
porous and show smaller proportion
- ,ro'a,n ra,u !. .L aiiu iosses 'ian was Eyer
.''omn :. y tleir> history, ana my oiiice
> > lee ieeeivilg STEADY stream OF appli,,
a ,a.,IiS ani's @ nor charters loi new national
H 10 o,n;4s S ~, in.iss,oil l;s.; 10 li,elsaSe
nv ,a' -. III. eA.s'n's oaiihs'
IT Hits the Grasping.
Mr.. Williams said the new federal
eserve law will forbid the grasp
ng iroh using ior their own 'advan-
,nrs" and thst Z nnts tha n farar uie
he same n1ane as the nns;nass NAV ~
"The farmer" he said &c enabled
n borrow according IN his industry
nd commercial standing because his
anks know how and where to Get ,
he money II will mot he ,oss;bIe
0 have the money SUNNY locked in ;
he great centers for sneculat;on or
ambling purposes while the real pro- ,
ucers and legitimate productive COM i;
lerce are pinched or denied perhaps 2
1st at the time of their most impor- '
mt need" ~, !
Cries of back to the farm, he said, !
'ere futile without promise of COM
,rt and prosperity. I
"Put money, or opportunity to earn
;" Mr. Williams said, ION the farms
nd the people will 90 to them fast
Tough and stay with them. This is
recisely what the federal reserve
,stem is doing in large measure, and
e hope the rural credits system will
} in even larger measure"
Transfer &c Mo,au +
u. ,,;,,:a.,a Fl
,t;n, t "tia'hs ~ hs,r .o'u ol .ne aecentralf :,
a.ioli Oh nuee accuinuiations OF =
oney u rom the rev great centers !
~ H. ~, aia: a;.sle. ~ lhe leueIai reserve
,;n' ,;nS' aGanis % ,: WE'VE Leselvoirs from =
., arir pp Gpo hanrs e ,a;iatl a.1aty run 10 + 4
f,iy ,;at,o 0'Guu nsiks, i avaalaole 10 every " ~
ss sS man. h,,, u, y,
uou Allilighty alone, he SAID, u;
loWs n non llialiy stIong men nave n y
u stfengtl, nope ana power sapped " y,
uniair interest rates; how many y
boys and girls have been "
prived OF opportunity and driven to III
'rthiessness ana CRIME by the same :,
eiul, inexorable power'i es es
This IS the hrst time since the be. =. ~
OF the national banking sys- lu m
n halt century ago that the ne 1e