Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1921-04-20
JAPAN STANDS PAT ON YAP MANDATE POLICY
EVERY j. S. HELP
PLEDGED COTTON
BY COMPTROLLER
Policy Sounded
Before Louisiana
Bankers

NEW ORLEANS, April 20.-That
every possible government aid will
be lent the cotton industry in an
attempt to bring it back to a pros.
porous condition was the statement
Of Comptroller of Currency CrissinG
er in an address here last night be,
fore the Louisiana Bankers associa-
tOC. 1t was the first public utter
ance from his department under the
new administration, and had been
eagerly looked forward to by South
ern financiers and cotton growers
Turning to the cotton industry in
the course of his speech, Mr.. Girls.
singer declared no other American
industry so thoroughly deserved as
Histance at time Of temporary stress
Authorities guiding the broader fl
nanclal policies OF the country, he
said, are determined to exert what
ever power and influence may be
necessary to bring the industry back
to basis Of assured prosperity.
Il do not want to be understood" j."
he continued, "as suggesting that the
government can be relied upon to do
the things that private enterprises,
thrift and effort must do, but | am
willing that you should very definite
Iy understand me to mean that every
possible support and encouragement,
consistent with sanity and soundness
based on the consolidated credit Of
an authority of American business
and American government will be
held out in this time of trial and
stress"
Efforts set on foot to enable for.
eign buyers to continue taking
American cotton, Mr.. Crissinger said
would receive every feasible and safe
encouragement. Conditions abroad
are improving and the outlook for IN
creasing trade with the United States
is decidedly hopeful, he added.
Foreign Trade Help.
CAT this point" he concluded,
"again | give assurance that the ut
most support will be given by the gov,
ernments financial authoritie to
every effort at extension Of credits by
which foreign trade may be devel-
oped The task must be han
died hereafter through the processes
Of commercial transaction; Of those
transactions which represent the un-
ceasing flow of supplies an the con-
stant, If at times postponed, Iiquida
ton of accounts. CT government
credit and money we have given all
that can safely be permitted"
1t means can be found to keep the
American people working, their pur
chasing power will be improved and
we viii presently see the tides OF
prosperity running stronger" Mr.
Criss.nger declared. Our own coun.
try he said, presents TO US the
market in which we must always do
most of our business and on which
we shall chiefly depend for establish
ment of industrial prosperity. There
is plenty of consuming capacity here
if We could only make it possible for
the potential consumers to buy those
things they would be glad to con
sumo"
Resumption of peace conditions
will come soon, the comptroller as
serted, but European rehabilitation
must be slow and its reflection in
more more favorable business condi
tions very gradual. He declared that
he was not one of those who feared
an unfavorabIe balance of interna-
tional trade nor did he mote with
complete satisfaction the tendency OF
the worlds gold to bank itself UP
this side Of the Atlantic.
Must Help Our Own People
eve must help our own people t.
be able to buy their own products,
he said. "We must also help the
outside world to maintain a money
system in such relations to gold tina
exchanges will be possible. There.
fore, as to the domestic problem, we
must extend through our financial
instrumentalities every encourage.
ment to the producer. The farmer
must be assured, right now, that in
his effort to buy fertilizers and seed
and implements and labor for the
next crop, he will be given the full
est support, the broadest credit that
can possibly be extended through the
banks, and that the federal govern
ment and its banking structure will
stand squarely back Of individual
banks that wisely and in moderation
extend necessary credits for these
purposes.
Credit as a basis of production
there must be; credit as an incentive
and means to mere unproductive
speculation there must not be. | can
say to you bankers and to the great
agricultural community behind you
that this is and will be the policy of
those responsible for the supervision
of national banks"