The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1922-01-28
The Day After a..
Tomorrow
A Message to the Bankers OF
America from the Presi-
dent of the American
Bankers Association

! Nv hat is the outlook for business ?"
Never before have we faced so
: many great problems clamoring for
intelligent solution. To America is
world looking for far-seeing and
constructive leadership and upon
us largely depend the conditions
W ilich shall prevail here and abroad
on the day after tomOrrow-tie
day after we shall have passed
through the. period of re-adjust-
ment and re-vitadzation and be
once more actively engaged in pro-
ducing and consuming in an order
ly business-hke way
] Good business then depends up
on good Judgment now. With good
Judgment go individual initiative
and hard work as the essential elc-
nlents in making 1922 a stepping
stone To financial stability and in
dustrial activity.
What is our first step? What is
our most important task at this
hour? What needs our most care
ful-yes. prayerful = attention? !?
There is q neal challenge ill the
answer-Agriculture.
= The fundamental wealth of
America is the productivity of her
soil. Transportation-manufactur-
-jobbinG-banlliDg -merchan-
dizing-labor-all take ON new life
when the farmer prospers-all suf-
fer when his purchasing power IS
i materially curtailed God in His
bounty has given Us the land and
the water. We haze the man-pow-
er--we have the machiuery-we
have the Seld-Shau we put them
all actively to work that the world
may be clothed and fed and
lAmericaIs new era OF prosperity
built upon the firm foundation OF
new wealth created?
a crop that can be made and lis
for any reason not planted or har-
Iyested is an opportunity forever
lost-tine and money that can
never be regained RotatioY Of
crops is agriculturally sound and
diversification is desirable-provid-
ed-for a commodity of which
there is a great surplus supply
There be substituted something
more sorely needed.
| World movements indicate a
gradual clearing up of the foreign
financial skies Ii the series Of
international conferences being
held result in establishing the
| buying power of Europe the fall
may find rs facing an active de-
nland for our fundamental COM
modities. 1t will then be too late
to plant the necessary crops.
Should the foreign situation not
improve materially then financial
America must provide the machin-
| cry for carrying the surplus tenn
| porarily and prevent demoraliza-
I ton in values. The demand can
not be long delayed if the needs of
the world are to be properly sup
piled. Today crops NAV be both
planted and financed on a materi-
I ally different basis OF risk than was
incurred during the period of high
cost Of production.
! What Shall the Banker Do:
Help the farmers of his neiGfbor-
,hood to approach this planting sea
son with cleerfulress and q ruSgt i
determination to succeed. Put y
hope in their hearts-throush coz
tinued sympathy and cooperate
assist them over the rough plar ;.
Many Of them are discouraged Il I'd
disconsolatc as they review ne
losses Of the last TWO years. ey
/ must be stimulated to look tor
ward not backward and the ak
er mus, help bridge the Gl re-
tween the dishearteninS pas md
the promising future.
They still need the bankc : e
tive support-he needs their Sy
and ability to create new wea It
his loans to merchant and Ii, cr.
doctor and school teacher. manu-
i'acturer aud the farmer himself.
are to be liquidated.
AS in &c immediate past. dis
play coniid .nrc in those who have
shown their Willingness to work
and their ability 70 create-once
NOR. assist them in financing their
need for seed. fertilizer imple-
r1entS. If we are to press forward
! successfully. agriculture must not
hc allowed 20 become dcmoralizcd.
+! For forty wears the Sonth's crops
We financed when the av"ra2"
] farmers only collateral WAS his
; character and rhattel mortgage.
This collateral is still available
make Use Of il His success is Ma
,ional Prosperity
Put the American farmer on his
] feet. not through patcrnaGStic
! legislation II SpeeiouS noStrumS-
he neither wants nor needs charity
but through the application of
old fashioned commonscnse Amer
lean banking and business 2rinci-
Piles.
again on his feet he Will stand
unsupported and rs he stands will
American business be renewed in
strength and activity and American
! labor find new fields for employ
mcnt
Then shall we see TIL. dawn Of the
J day after tomorro"'.
ThoS. =. McAdams.
President
American Banking Association.
Nrw York. Ian. > i9.2