Show 0 THE TUE D DAILY LY NEW V YORK 7 V V VV VV VV V V V V FIN FINANCIAL A N C I A L W HIRL H I R L I-G I I I G V 4 forThe McMULLIN V Written for forThe The Telegram by JAMES McMULLIN NEW YORK YORK Jess Jesse Jones con continues continues' eon eon- on- on timi s' s s to hit em down the bankers bankers' bank bank- ers ers' alley His remarks remarks' favoring larger bank capital in proportion to deposit liabilities and the extension extension extension ex ex- ex- ex tension of branch banking foreshadow lore fore shadow a plan that will make a lot lotof lotof lotof of news later Private control of credit willbe will willbe willbe be seriously threatened when congress congress congress con con- gress meets The banks have n no intention of taking a licking lying down and they realize they must offer a constructive substitute for jurisdiction over credit if they y hope to retain their independence So their best bt minds are re busy concocting a layout for which they Will find a a. a congressional n 1 sponsor when the time the comes The two ideas mentioned by Jones plus unification of the banking system will be key points in their pro pro gram This last wont go well with the p political champions of state ban banks but the big fellows vs are hoping hopin it will win administration ti n support V IV The New York Washington grapevine grapevine grape grape- vine r reports ports that currency inflation inflation inflation tion is out if credit expansion does its stuff even stuff even at this late date dale This fits fits with the preside presidents president's ts t's en encouragement en- en n- n of private enterprise to work with him In Ia effect elect hes he's telling the sound money money crowd crowd- more mor plainly than ever before r that if they want to avoid currency tinkering they'd better pull their weight in promoting business a ac ac- e. e V Va a II Informed Wall street regards the recent declines in us U. U S. S Smelting and Alaska Juneau as significant Both are are inflation stocks and both have been lar largely held by or people wh who maintain excellent Wash Washington contacts contact o t c i i V I IA A A. A n number mb r 0 of tY dealers arc beginning to wish that industry and the banks bank would team tc-am up tip a a. little better with the government They attribute the starvation of or ort t their business to the conflict between between between be be- tween capital a and d capitoL capitoLA A leading broker ng puts It Jt Our b business siness is being stretched hed like a rubber band by the tug war tug war f-war and the more it stretches hes the thinner it gets gels Its It's likely to snap nap altogether i jf if they dont don't ease up pretty soon From his viewpoint and aid th that t V of other commission houses its it's more important that al the battle batUe should sho ld end than that either government or capital should hould win i V V Copyright McClure Newspaper p 1 V V V I |