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Show RESERVE BANK POWER CAN CHECK A PANIC CLEVELAND. May 25. The millions mil-lions of dollars 1 heid in reserve by tho federal government is sufficient guarantee against any liability of panic, D. C. Wills, chairman of the S fourth, federal reserve board, declared in an address before the eighth annual 1 convention1 of the Association of Reserve Re-serve City Bankers. He declared the avoidance of panic to be one of the I fundamental reasons for the creation of federal reserve banks. While banks are being blamed for the low quotations on Liberty bonds Mr. Wills said the real reason was be-causo be-causo they are being utilized as mediums me-diums of exchange by their holders. Mr. Wills appealed to all bankers to get into politics, "clean politics" declaring de-claring the influence wielded by bankers bank-ers to bo unappreciated by them and so unutilized. rvn |