Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-04-19
M. B. WELLBORN DESCRIBES :.
BUSINESS CONDITION ABROAD
Governor of Federal Reserve
Bank Returns to Atlanta
From Two Months Cruise
in Mediterranean

1.-The American eagle rapidly Is
spreading his wings over Europe
and the Orient and the American
dollar is rapidly becoming the &C
cepted standard of currency in far
off countries" said M. B. Wellborn,
governor Of the federal reserve bank,
Monday following his return to At
lanta Sunday from a two-months'
cruise in the Mediterranean.
! Mr.. Wellborn said the dollar is
accepted eagerly everywhere, even
in places where the British pound
is not so promptly sought. He cited
instances while in Egypt where the
natives were elated at receiving
American money.
| Commenting on business condi-
lions, he said Europe rapidly is adj
| justing herself in a financial way
and seems to be well on the road
to normally. In London Governor
WelIborn talked with officials of the
Bank of England and found them
encouraged over the outlook for the
! future.
AS to prohibition. Mr., Wellborn
says Europe will not go dry, at
least, not any time soon.
Liquor Taxes
Taxes on liquors bring in the
majority of revenue to European
countries" he said. "They assess
a heavy tax and I think Americans
are doing much toward paying off
European debts by buying their
beverages. However, Europe is by
no means in besotted condition
and it is surprising how we'll Ameri-
can citizens conduct themselves
abroad, from an alcoholic stand
point. There are practically no
DRINKS to be seen among the
American tourists
Mr.. Wellborn was in Europe when
the King Tut craze was sweeping
view the tomb, but 1t had been
the tomb of Rameses II, however
Mr.. Wellborn was particularly
fascinated by the Orient and spent
most of his time there. His cruise
up the Nile, he said, was one of the
tour
"I agree with Samuel Johnson,
he said, that the grand object o.
travelling is to see the shores of the
Mediterranean. On these shore:
| WSLS Tic 1OuE SLSdI S1IIp1ISS VI LIN
world-the Assyrian, the Persian
the Grecian and the Roman. All oul
religion, almost all our law, almos
all our arts, almost all that sets u!
above savages, has come from the
shores of the Mediterranean
Visit to London
The pyramids and the sphin2
were objects of interest to Governor
! Wellborn, as were the tombs of the
ancient Egyptinns. He only touched
the lower coast of France and spen
several days in England, visiting
Westminster Abbey, Elton colleg,
and other points of interest.
Egypt, Portugal, Greece, Turkey
Italy and Spain were the principa
countries touched on the tour.
Among the souvenirs brough
back by Mr.. Wellborn are some in
teresting pieces of needlecraft b,
Armenian refugees under the car,
of the Near East Relief of Constan
tinople; also rare shawls made b.
Egyptian girls in Assault.
Mr.. Wellborn made the cruise OF
the Mauretania and said every con
venience was afforded on the hi,
ship. He says he feels greatly i'm
proved in health and, while thu
Orient is great and Europe offer.
many interesting sights, he is glaC
to be back in Atlanta to take VI
his duties 1t the Federal Reserve
bank and associate with his friend.
again