Evening star., 1931-12-27
BANK CHIEF URGES
UNITY OF EFFORT
Haas Gives Program to Pro-
mote Revival of u. S.
Business.
BY III. ], HAAS,

President American Bankers Association.
1t is an encouraging feature Of the
present business situation that there is
evident a growing disosition toward
quiet cooperation and an effort to ar
rive at mutual understandings for the
common good.
The spirit of mutual helpfulness has
displaced that OF Gistrust and antagon-
ism that characterized the attitude Of
various interests toward one another
during the recent stages of the current
era.
1t was doubtless natural that the re-
vulsion OF feeling against the affiictjc--
that beset the times should express it,
self in hasty words and actions When
people stop dissipating their energies in
1rultleSS arguing and get to work to-
gether IN mood of quiet determina-
ton to help each other out, it brings a
SOLDERING power into their efforts that
enables them TO see realities as they are
and to overcome difficulties that before
seemed unconquerable. This spirit has
been manifested in no uncertain term
by the large amounts which have Just
been raised all oTcr our country for
AAN-P w NILS unemployed, tIIF SICK dIlG
needy and our public inst tutions and
at time when the donators have
themselves suffered severe losses.
Unity of Effort Needed.
The difficulties that still lie ahead
are real and they call for even greater
unity of effort AS an example, would
cite what has happened in the field Of
banking. The organization and putting
into operation Of the National Credit
corporation, with S500,00O,000 sub
Scrlbed by the banks themselves, made
concrete and effective the inherent
ability of banking to overcome the
problems that confronted it.
Whlle banking as whole was funda-
mS ntally sound, there were some in
othtlS TO meet the peculiar and un-
precedented difficulties that swept over
the Nation with unparalleled severity.
The National Credit Corporation pre-
Sented method for organizing the
whole banking situation during the
emergency on plan that reinforced
the strength Of each by the strength
OF all. Banks throughout the Nation
willingly co-operated The morale of
the whole situation was altered. The
attitude OF the public. which had be-
come unwarrantedly distrustful, changed
and that very fact removed a large
part OF the pressure against the banks
and aided IN stabilizing conditions
commence did not work miracle, but
1t did help cause an impressive change
toward a more wholesome state Of
affairs.
Other Lines Require Confidence.
What has been done in banking can
be done in other lines of business. They
need the same confidence, cooperation
and trust in each other and with the
public. When that proportion of the
pubic who are assured of continuous
employment shall again lead their
natural life and not unduly restrict
their mode Of living and realize and
appreciate that the price he has to pay
lor MS purchases represents a fair re-
latlonshlp to production and distribu-
tlon costs, we may expect a revival of
public buying and a gradual increase
IN employment with its proportionate
share of purchasing power and so on
ed infinitum.
1t is to be hoped that the question
OF wage readtustments to current in
dustrial and commercial conditions will
be worked out on a basis of mutual
understanding and confidence to live
ana let live. It is promising sign
that the representatives of railroad ad-
mlniStration and their employees have
been able to approach their discussion
IN spirit Of considering the facts, even
though honest differences of opinion
may have to be adjusted
In the political situation, while there
is ample evidence that partisanship
which is fundamental to our system
VIII continue to function, nevertheless
there is also evident a sense of re-
sponsibility toward the obligations OF
power that should aid in bringing about
a reasonable measure of cooperation.
We have seen real statesmen in other
countries torsake their party Affiliations
and come to the aid of their country
when they fully realized that their
country was in distress
We have seen the damage that can
be caused by an unbalanced budget
(either nationally or industrially) and
how at least one country balanced its
ouoget at all costs and in few years
the world
Should We not be optimistic enough
to believe that our people are no less
patriotic than those of other nationali-
ties and that the fiscal problems of QUIZ
Government at Washington will come
through the gantlet of parliamentary
debate without impairment of the i'm
portant national issues?