Show FEDERAL CREDIT CONTROL URGED System Too Important in Life Lifo of Nation to Be Left With Banks Cutting Says WASHINGTON Jan 16 P C A The nationalization of ot the credit system of at the country was urged today by Senator Cutting of at New Mexico who Js ls having legislation prepared which he hopes will accomplish that tine live This Is will probably Involve the establishment es es- r of some sort of ot a central bank o said Senator Cutting The details details de de- tails Hails of ot the program m have yet to be worked out J He pointed out that credit is Js the principal and vital element of ot the economic eco eco- monde life We of ot the country and that thai Tactual actual currency plays a small part in the tiie business of ot the nation S I 1 believe the government should take tak over credit as as' asa a public function jit t is too Important an item in the thee e economic scheme heme to be left leU to private interests said the senator I do not favor private banking so far as ns the issuance of credit Is concer con con- concerned concerned ed 1 I. I The Tho he senator explained that nationalization nation nation- of the credit system would give the government control over this vital element in business and us os a 8 result would bring about regulation of Df the economic system He believes methods will be worked out to allow private banks under strict super super- vision to provide ordinary banking ervice such as checking and savings accounts |