Evening star., 1935-11-12
BANKER DEMANDS
u. s. QUIT BUSINESS
U. S. Association President
Cites Passing of
Emergency.
BY the Associated Press.

BY the Associated PreSS.
NEW ORLEANS, November 12-
Rudolf S. Hecht, president of the
American Bankers Association, called
upon the Government today to with
draw from many fields of business.
THE emergency is passing" he told
delegates to the associations annual
convention.
Hecht. chairman of the board OF
the Hibernia National Bank here, also
stressed the need for some govern
mental supervision of banks and dis
cussed the public attitude of re
newed confidence" in financial inSti-
tutions
When we contemplate the extent
to which governmental activities have
been expanded" he said, I'VE realize
that herculean task confronts the
administration in reversing its policies
and reducing the number now carried
on Federal pay rolls.
Specialization Is Seen.
UNLESS We take up the battle for
free play of private enterprise and
lll0lfl 1IiAlAdtANC AL GA CA1CA SSeAN
and effective fashion those who want
to transfer still greater powers to the
Government and ultimately bring
about socialization of all business and
credit may gain the upper hand.
In the last analysis no government
is wiser than the individuals who com.
pose it,
He asserted, however. that within
its proper sphere" Government should
exercise a certain amount Of super
vision over the conduct of our business
enterprises so that We may be sure
they are conducted on the greatly tc
be desired principle of social justice
and national welfare"
The world" he said, appears tc
have unqualified conference both in
our economic future and in the stability
of our currency.
Many problems and difficulties
still lie in the path of the restoration
of real prosperity. but, as we survey
the present situation, we see many
sound reasons for taking a cheerful
view Of the outlook
The banking act Of 1885, he said
"by and large" was quite a satisfac-
tory piece of legislation.
He urged that the next session OF
Congress consider abolishment OF
modification of the postal savings
system He said its relatively high
interest rate and liberal withdrawal
privileges" were unfair" to banks.
Earlier. heads of two Government
financial agencies urged members of
the American Bankers Association to
look forward to shouldering demands
for capital supplied by the Govern
ment, but one cautioned mot too
soon"
Il feel that banks should make more
courageous efforts to substitute pri-
vate for Government credit" said Leo
T. Crowley, chairman of the Federal
Deposit Insurance Corp, addressing
the bankers.
Chairman Jesse H Jones Of the Re-
construction Finance Corp. added the
assertion that he was "aS anxious as
any of you can possibly be that the
Government get out of the money
lending business as soon as possible. ="
Then he warned it should not get out
too soon"
Roosevelt Sends Greetings.
President Roosevelt conveyed his
greetings to the convention through a
letter read to the delegates by Jones.
The Presidents letter follows:
Dear Jesse,
please express to the members Of
the American Bankers Association in
convention in the beautiful and his
toric city of New Orleans my very best
wishes for a successful and profitable
meeting.
Il have watched with great interest
the continued improvement in banks
throughout the country during the
past two years. The progress which 1
&C.. % AEDrpc pora oN