Evening Republican, Volume 17, Number 310, Rensselaer, Jasper County, 30 December 1913 — Says Currency Law Will Make Panics Impossible. [ARTICLE]

Says Currency Law Will Make Panics Impossible.

Arthur Reynolds, president of the American Bankers’ Association, who is the president of the Des Moines, lowa, National Bank, has issued a statement approving the Glass-Owen currency law. He says: “I don’t think ft; is possible for us to have panics under,this new federal currency law. Panics only mean that you are unable to pay cash or extend credit. Under the new law you can rediscount paper and secure credit or cash to extend to your customera” Representative John A. M. Adair, of Indiana, addressed the rural mail carriers at Muncie last Saturday night and Said in part: ‘ “The currency system inaugurated" by the present session'of congress is the greatest legislation passed in a half century. It takes the power from the great banking institutions and places $250,000,000 of the people’s money in smaller banks, more available to the depositor. It removes the base of the currency system from Wall street .and makes a new base in the banks of the people.” , >