The Union daily times. [volume] (Union, S.C.) 1918-current, 1922-12-18
Prosperity Demands
Equitable Distributes

New York, Dec. 16.-National pros |
perity can result only from the intel |
gent distribution of work and equita-
ole distribution Of the rewards of
work among laborer and employer,
said John H. Puelicher, president OF
the American Bankers association, in
IN address here tonight at the Hotel
Astor before the Bankers Forum, New
York chapter, American Institute OF
Banking, the educational branch Of
the American Banking association.
THAT is not prosperity which does
not include the well being of all work
ers," said Mr.. Puelicher. "That is
not prosperity which does not give the
laborer his full wage, nor the employ
er his full value. That is not pros
perity which fails equitably to COM
pensate the tiller of the soil, which re-
wards speculation rather than produc-
ton. That is not prosperity which
denies the incentive of just reward to
each contributor in the degree of his
contribution, which forgets the educa-
tional and cultural needs of all the
PEOPLE.
National prosperity can result
only from the intelligent distribution
cf the nations work, and the equita-
BILE distribution of the works rewards.
These rewards must go in due proper
ton to labor, to cauital, to talent, to
initiative. This means a greater-yes,
an almost perfect economic under
standing.
"And it is here that | come to the
public work of the banker-the work
that is to bring him his fullest devel-
opment, his highest reward. In his
business field he provides for himself
and his family. If he wisely culti-
Yates that field. he aids in the busi-
ress development Of his community
and his growth is correspondingly
great.
His activities are at the very Gen.
ter of our economic lime. His services
a-e rendered to every element of our
economic existence. Sound banking
rolicies discourage speculation, en-
courage balanced production and bal
anced rewards for production.
"The banker is no less interested in
the success of the labor and the farm
cr than in the success of the mer-
chants and the manufacturer. Each
contributes to the field of his en-
deavor, some bringing deposits, others
requiring loans, and only can he pros
per as many prosper.
"Our commercial life is based on
credit-that is, on character, on ca
pacity. Our industrial life is based
on production, underlying which are
character and capacity. The banker
knows that nation stands high as
its men and their products. He knows
that the homes of a nation are happy
as their owners are Industrious, as
they put character and capacity into
their work. He knows that nation
is but an aggregation Of homes-that
it is prosperous and happy as those
homes are prosperous and happy
that it grows in strength and charac-
ter as happy homes give forth sons
and daughters Of strength and char
acter-and as its economic adjust
rlents approach justice and charac-
ter"
Mr.. Puelicher asked the bankers
present to share with others through
the public education activities of the
association the economic knowledge
they gain from their business expert
ence. He added:
Fundamental economic truth is as
much needed as is that knowledge
which keeps US out of the tolls of the
law, and that knowledge which keeps
us out of the tolls of the law, and
that knowledge which keeps our
bodies strong and healthy. And yet
the vast majority of our youth, all
those who leave school before reach
ing the senior grades of the high
schools get their economic education
in the hard school Of experience, often
from the agitator, from the dealer in
economic nostrums. Need one wonder
that oru difficulties are economic?"