The midland journal. (Rising Sun, Md.) 1885-1947, 1935-01-11


ability, and we may well expect him to
meet the problems that lie before him
with resolution and sound judgment.
Changes OF momentous Importance
have occurred in our economic struc-
lures and bankers have had difficult
road to travel. Sons will argue that all
of these changes were evolutionary and
inevitable, while others look upon many
of them as revolutionary and unneces-
sary. It is extremely difficult to trace
with any degree of accuracy the real
causes for many of our troubles and it
is not always easy in judging these de-
velopments to distinguish properly be-
tween cause and effect.
Unfortunately it has become the fash
ion to blame on our banking system all
the troubles which the depression has
brought. AS a consequence we hear
much of needed reform of banking by
law. No one will deny that certain de-
fects have developed in our existing
banking laws which need correction,
and that certain abuses were COM
mitted which no one wishes to defend
or have remain possible in the future.
termined than they are today to bring
about whatever changes in our banking
system are called for by the public well
fare.
The best results can and will be &C.
complished by normal processes and
duo RI i1Ic to 81 ,r.f-
vate banking structure-suitably super
vised by proper authority-rather than
by the passage of still more drastic
laws, offering panaceas in the form of
more government-owned or govern
ment-controlled financial organizations.
The Basis of Good Laws
Lasting laws relating to any phase Of
human need are formed and modelled
in the rough school OF practical human
experience and are usually the result of
sound evolutionary processes rather
than OF sudden impulses to change fun
damental principles.
II we analyze the new banking pic
ture which has developed during the
past eighteen months. we cannot help
but arrive at the conclusion that evo-
lutionary changes which have taken
place in banking, and the economic life
of the nation Of which it is a part, have
justified much of the, banking iegisla-
ton recently passed. AS we look ahead
and consider the new problems which
are facing us we must inevitably come
to the conclusion that some further
changes in our banking laws will be-
come necessary.
1t is not enough that bankers merely
acquiesce in banking imposed by law.
Zeal for evolutionary banking reform
must be more aggressive than that.
Banking practice itself, without COM
pulsion of law, can and should reflect
the changes and lessons OF the times
and difficulties through which the ma
tion has passed and, even to greater
extent than law, render banking more
truly good public servant by volun-
tary self-reform. In no small measure
is this accomplished by the better
training of the members of the bank
ing fraternity and by instilling con-
stantly higher ideals in those who are
ultimately responsible for bank man.
agement.
AS we march on into the world OF to-
morrow the banker has greater op-
portunity for usefulness than ever be-
fore, and hope that the service he will
render to society will be so conscien-
tious, so constructive and so satisfac.
tory as to merit general approval and
assure him his logical high place and
leadership.