Ogden Daily Standard | 1914-01-15 | Page 4 | Sees a Good Thing for the Country

-uu SEES A GOOD THING FOR THE COUNTRY. Farm and Home, an agricultural paper pa-per of wide circulation, welcomes the new currency law as the forerunner of a great change in financial affairs, as follows: "Now comes a wholly new factor that may usher good times into the United States earlier than in other countries. I refer to the new cur rency law. It Is the first and best currency reform since the liationa1 bank act of 1865. It aims to so simplify sim-plify and Improve commercial bank ing as to arford relatively equal chance to small or large borrowers or lenders, to little or big banks. It may even dissipate the so-called mou ey trust. It does not interfere with legitimate activities of existing banks, but enables them to better accomtno date their customers, whether depos itors or borrowers. This is done through the rediscount privilege and other advantages offered by the new regional reserve banks and by the federal reserve board. Some time is needed for the new Bystem to get Into effect, but the change can be made easy. Then the volume of cur rency and what is still more import ant, the volume of creditB should automatically au-tomatically expand and contract with the needs of industry. The law aims to accord to the farmers' well-secured short time notes the same accommodation accommo-dation that other forma of equally available commercial paper enjoys The new law also alms to remedy many other glaring defects In the ola system. If it works half as well as its friends expect, good times will be here to stay!"