Show BAKERS SUPPORT SOUND EXPANSION by R S HECHT vice president american bankers association bahat BANKERS ANKERS universally recognize that the prime economic need ot of the nation Is the stimulation ot of sound industrial and commercial activities and recent travels over a wide stretch ot of the country have shown me that they e eve v e ry where are making all effort possible to lend con y tive fi finan nan R s HECHT caal su support within the scope of 0 their proper banking functions to promoting the expansion of 0 business activity frequently in times past when our country suffered from an economic depression and consequent unemployment on a large scale the tha rise of 0 some broad new industrial development such tor for instance as a new industry like the automobile industry has been a powerful factor actor in stimulating a return or an accelerated cele rated growth of national prosperity such a movement means the creation of new wealth the employment ot of large groups ot 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 evila of monetary inflation A new force tor for improvement perhaps we have at hand it i not the rising of 0 a wholly new industry a measurable equivalent in the potentialities ot of a widespread rebuild ing and modernizing movement such as home reno plant remodeling the putting of 0 our railroads on a high speed air conditioned basis and other valuable developments in the construction held field the effects ot of such activities on employment and many lines of 0 bustness business would be ba most beneficial and I 1 can repeat without reservation that wo we bankers are ara willing and eager to play our full economic part in any such constructive developments it has been mads made to appear that money tag has not gono to work be c cause aiu se of the elie timidity ty of fa bankers rs rather than what la Is a true explanation because business men have not had enough confidence in the tha bustness business outlook to borrow the dollar from the banker and put it to work the basic requisite to the expansion of 0 commercial bank loans Is sound normal business conditions on which to conduct sound normal banking operations the best bust business a bank can wish for is the opportunity port unity to loan money to successful business men and manufacturers imbued with confidence to enter upon aggressive business enterprises P ases and endowed with the ability to bring them to successful conclusions such loans mean business activity for the community growing pay rolls and prosperity and the banker wants to make them because to be identified with such activities tivi tivit ties les not only means profits to the reward of community good will there is no better proof of 0 the great desire of banks to take care of the short term requirements ot of the business world than to point out the abnormally low rates at which this demand la Is being supplied at the present time everybody vo voles tes as he pleases but too many are pleased to vote is others tell them the fellow who s sounds ands his own horn born is about the tho only one who never tires of the noise we still talk of 0 the coming prosperity but we also talk of the moon and green cheese A free country is a place w where 1 ere you can soak your neighbor without ith being socked in jail |