Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-07-17
A Fair Deal u. Credits for the
Automot;ve Industry

M rightful purposes of the Federal Re-
serve Act or in sharper conflict with
husiness wisdom and fair-play than a singing
out of the automotive industry Tor drastlc
restrictions of credit. For the sake OF the
principle involved, as well as the vast practl-
cal interests at stake, it is greatly to be hopeo
that the Federal Reserve Board will IN no
wise countenance, much less recommend, any
policy to this effect. A rumor is abroad,
however, that the regional banks have re-
ceived suggestions, If not explicit lnstruc-
hons to cut automotive credits to the Done
and marrow, leaving the development, indeed
the very life, of this great province OF in
dustry and commerce helplessly crippled.
That responsible heads Of the nations finan-
cial affairs should take such position is
almost unthinkable; certainly, 1t could find
no support, but only condemnation, from the
discerning rank and file. t-a.-
The only conceivable justification for re-
fusing needful credits to this or to any other
sound and legitimate business, as long as
funds therefor are available, would be to
protect the essential against the non-essen-
tial and to check the extravaganza which
breeds initiation and dangerous instability.
But assuredly no competent judge would as
sign motor vehicles and machines to that
category The most casual observer knows
that motor trucks are as essential as railway
cars, and that tractors are as functionally I'M
portant as plow horses or farm wagons in
the country's productive life. Nor is it meas
urably different with the passenger car, that
Indispensable means Of modern travel and
communication. Theoretically, of course, the
doctor could revert to the doing Dobbin OF
his ancestors, the commercial traveller to the
dirCe of the country "hack" and the farmer,
who now saves priceless hours and gains all
manner of advantages by his automobile, could
go back to the Arcadian jog of ox-carr
or mule. theoretically, we say; but if in
fact the automobile and it's kindred ma
chimes were suddenly whisked out of our
daily life and labor, what, an aching hol-
lowness there would be! What gaps in bust
ness and social currents! What failures to
function and connect!
Years ago-a very grandsire's past, it
seems, though really but score or so of
summers-the automobile was regarded as
a luxury for the few. Today it is a neces-
sity for multitudes, source of livelihood for
two million American workers, the foremost
promoter Of good roads, the banisher Of sol1-
tude and loneliness from unnumbered farm
steads, the bringer of rural health and free
dom to families once pent in Cities the foun-
dalton of the worlds largest second indus
try. There is scarcely field of the coun-
try's productive interests that does not profit
one way or another, from the manufacture
and sale of automotive machines. Particu-
larly generous is the South's share of these
benefits. For, as a writer in the Memphis
News-Scimitar points out, even If there were
not an automotive factory, assembling plant
Or sales agency in the South, still the auto
mobile manufacturer would be one of her
best patrons. For example,
"The cushions in the cars are padded
with cotton. good portion of the
leather comes from the South; more of it
would be used if more cattle~were pro-
duced here. The wheels and bodies are
manufactured from the choicest hard
woods in the South Automo biIe tons
are made OF cotton and cloth and pat
ented preparation, some of the ingre-
dents of which are produced in the
South. The upholstery, mats and car
pets are made principally from cotton
Inc tires alone require more than three
quarters of million bales of cotton an
nually. The gasoline that provides the
motlVe power comes from Southern
wells. The chassis of the automobile is
made OF STEEL and the largest mills in
the country are located in our neighbour
ing State Of Alabama" --.l-
It is pertinent to add that some of the most
substantial and promising of automobile
manufacturing plants, as well as numerous
agencies and assembling quarters, are estab.
lished in the South, and that Atlanta is the
center of the great industry for this region
To hamstring the credit sinews of busi
ness with which the common interests ar
thus vitality bound up, merely because per
sons here and there are extravagant i,
buying automobiles, would be as unwis
anu uuAdlI DIS u SLOp the Sf1nQ1ng OF grain
because certain foolish damseIs suuande
their pin money on cream tarts or glutton
now and then gorge themselves on hot cakes
Let the k-cdigals be rebuked as severely a
common sHnse and public conscience can ap
ply the rod: but let not the rights of a. grea
prosperity breeding industry be trample
down in the process.
a Trio of Useful Bills
soI l.;