Show BANKERS 1 at SOUND EXPANSION by R S HECHT vice president american bankers association universally recognize that the prime economic need ot of the nation la Is the stimulation of sound industrial du and commercial activities and recent travels over a wide stretch of the Q leop Z country have shown me that they everywhere are making all effort possible to lend constructive financial support within the scope of 0 their proper R S HECHT banking functions to promoting the expansion ot of business activity frequently in times past when our country suffered from an economic depression and consequent unemployment on a large scale sc alethe the rise ot of some broad new industrial development such for instance as a new industry like the automobile industry has been a powerful factor in stimulating a return or an accelerated growth of national prosperity such a movement means the creation of new wealth the employment of large groups of people on useful lines and as a consequence the production and distribution of sound effective purchasing power which is a form of wholesome economic stimulant that has none of the evils of monetary inflation A new force tor for business improvement perhaps we have at hand it not the rising of a wholly new industry a measurable equivalent in the potentialities of a widespread rebuilding and modernizing movement such as home reno plant ier remodeling the putting of our railroads on a high cpr ed air conditioned basis and other valuable developments in the construction field the effects of such activities on employment and many lines of business would be most beneficial and I 1 can repeat without reservation that we ban bankers kers are willing and eager to play our full fall economic part in any such constructive tive developments it has been made to appear that money has not gone to work because of the timidity of bankers rather than what Is a true explanation because business men have not had enough confidence in the business outlook to borrow the dollar from the banker and put it to work the basic requisite expansion of commercial bank loans is sound normal business conditions on which to conduct sound normal banking operations erat ions the best business a bank can wish tor for Is the opportunity to loan money to successful business men and manufacturers imbued with confidence to enter upon aggressive business enterprises terp rises and endowed with the ability to bring them to successful stul conclusions such loans mean business activity tor for the community growing pay rolls and prosperity and the banker wants to make them because to to be identified with such activities no not t only means profits to him but additionally brings ur ings him the reward of good will in his community there is no better proof of the great desire of banks to take care of the short term requirements of the business world than to point out the abnormally low rates at which this demand Is being supplied at the present time |