Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-10-02
BANKERS ARE URGED
IN REPORT to FLOAT
HALF GERMAN LOAN
Continued From Page y

report from the protective commit
tee recommending that central bu-
reaus of Identification be organized
to provide bankers and business
men with information.
The general convention was
oDenej by Walter w. Head, presi-
dent, ii an address in which he
voiced opposition to government
ownership of railways urged vigor-
GUS combat against all efforts 70
give congress the power TO override
the supreme court and declared agrl-
cu1turaI problems were predominant
" economic, with Il remedy in eco
Monies rather than political pona-
ceas.
After reviewing the assoc alton s
fifty years of service 20 the BANK
ing profession and the nation, Mf.
Head dWelt upon the burden OF tax
alton now prevailing and stated that
it had reached the point of oppres-
sion
THE federal taxes Of 1920, he
added, aggregated more than five
ana one-half billion dollars. This
wear after strenuous erofris 9to re-
duee the wartime peak, the total
still exceeds three billion dollars.
State and local taxes have increased
at an even greater rate. IaXatlon
has become more than problem; 1t
is threat of impending disaster.
"Nor is the burden of government
limited to taxation. We are OPP
pressed by a multiplicity of restr. ct
i've laws and illustrative regGla-
tons. 1t is estimated that there are
over 1000, 600 laws and ordinances
in the records of nation, states and
municipalities.
"In the face of this record, despite
the general recognition of the over
whelming burden of government, we
find ourselves constantly WaginS
defensive battle aga nst plans and
program which would transfer still
greater duties to government; which
would hamper individual initiative
! still further; which will. if put into
practive, crush individual ambition
and destroy individual opportunity
Being Urged to Desert Ideals
"We are/5eing urged to desert
ideals of individual enterprise; to
enthrone government instead of the
individual as the handspring of in
dustrial achievement. We face de-
mands for government ownership
and operation Of railroads, of coal
mines, Of various great basic indus
tries These efforts to nationalize
our Industries are especially destruc-
tive at the present time, when our
railroads need careful guidance in
order that they may avoid financial
disaster and that the transpOrtat ton
burden borne by the public, may be
kept at the lowest possible figure. !"
One of our greatest needs today,
Mr.. Head declared, is to rcpel the
attacks now being made upon the
integrity of the constitution of the
Unittd States. We should, we must,
oppose vigorously all efforts to give
congress the power to override de-
cisiOns OF the supreme CORTLAND
thereby destroy the division of gov
ernmental power which is the in
herent strength of our constitu-
tional system.
The necessity that economic
problems be solved by economic
remedies. rather than by political
tampering, applies to the entire field
of commerce, industry and finance"
Mr.. Head declared.
The need of a better realization on
the part Of business men that agri-
culture is absolutely controlling in
all business was stressed in an adj
dress by j.. II. Meredith, former sec
rotary of agriculture.
Opportunities to go into banking
publishing, marketing, have been
given to us because of agriculture, -
Mr.. Meredith said. Conditions in
agriculture affect every one OF these
institutions vitality.
Farm Income Regular
"The income from agriculture is
regular and not largely all in one
season of the year as many business
men seem to be under the impress
sion it is. When one single source
of farm income takes a slump, the
calamity hOWlers make so much of it
that some are led to overestimate it's