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Chairman Lee S. Radford Address
Before Group Two Georgia Bankers
(The following report was given by
Chairman Lee S. Radford, to Group
of the Georgia Bankers Associa
tion in convention at Winder, Geor
gia, April 21, 1910.)
Gntelemen of Group Two and Visit
ing Bankers and Friends:
I will not tax your patience by an
array of tedious statistics or other
lengthy detailed reports, for I am
net a statistician and have not had
the time or the material to collabor
ate a comparative statement of fig
ures illustrating the advancement
and progress that have been made in
practically all lines of human endeav
during the past twelve months.
But before reviewing even ever 1 so
briefly general conditions, 1 desire
to make just a personal statement r*
gafding the order of exrecises or pro
gram of the day. We have in store
for you the addresses as shown on
tlie printed program, and 1 am sure
that these will be listened to with
profound interest. Now, it is my
purpose to pause a few moments af
ter each, of these addresses, five or
ten minutes if necessary, to give
an opportunity for you to ask ques
tions relative to and informally dis
cuss the subject matter of each o*
them. 1 am sure that these gentle
men are willing to listen to any ques
lions you may have and answer as
best they can, and I trust that there
will be ease and freedom, on the
part of all, for we are alter all, just
one big family joined in a common
purpose, and while there is and
ought to be a spirit of generous com
petition among the banking fraternity
our interests are so inter related that
the lively exchange of our ideas one
with another is bound to be of a
mutual benefit.
To get back to the Chairman’s re
port that I am supposed to present
to you today, 1 have intimated had.
there has been advance and progress
along all lines. With this general
statement you are all more or less
familiar. All the reports appearing
from time to time from Financial In
stitutions and Commercial Agencies
are indicative of that fact. W hat
then, are some of the contributory
causes?
( Twelve months ago the United
was beginning to get used
to changed world conditions. A ter
rible war such as the world had nev
er dreamed of had been in progress
for some eight on nine months. Ihe
channels of trade had been so inter
rupted and changed that the entire
scheme of operations had to be re
vised. Our great nation with its
boasted self-sustaining powers had
been suddenly brought face to face
with the great fact that it had so
long depended upon older nations of
the earth for aid in financing world
commerce, that it was quite unpre
pared to assume the great respon
sibility suddenly thrust upon it. As
affecting our immediate Southland
we had seen our principal staple go
begging for a market even, and King
Cotton thus pauperized for a few
months, was just beginning to re
sume its royal robes and proper dig
nity. These are the conditions we
found and to which we were just be
ginning to get used to twelve months
ago, and progress and advancement
have held the steady forward move
ment since.
Perhaps the chief contributing
cause to the wonderful strides of
commercial progress that our coun
try has enjoyed the past twelve
months is the Federal Reserve Hank
ing System, which has eliminated
from our minds the idea of panic
and which while yet in its swaddling
clothes as touching the broad activ
ities of commerce that will be en
trusted to it in the future, has al
ready so far attested its usefulness
that the experimeent of its establish
ment is no longer considered an ex
periment but is counted a success.
Had it not been for the proffered as
sistance of this great system during
the past season in taking care of
eottcn when properly warehoused, it
is altogether possible and indeed
quite probable that the bulk of the
crop would have been marketed un
der ten cents a pound, but its assist
ance has made a gradual marketing
cf the staple possible and has upheld
the price.
Crop Diversification. (
“It’s an HI wind that blows ao
body good.” The calamitously low
price of cotton during the fall of
1914 brought us more forcibly per
haps than could have been done any
way, to a realization of the foolish
ness of making cotton the sole crop.
The beginnings that were made last
year in crop diversification while rel
atively small were beneficial. I fear
that bankers as a rule have not be>>n
active in furthering the crop diversi
fication idea as they should have
been. It may yet take the boll wee
vil to bring us fully to our senses,
but we are thankful for the progress
that has already h,een made and I
want to urge with all the enthusiasm
of my being tiiat we bankeers furth
er encourage not only the “Crop di
versification and make your liv
ing at home” idea, but also the idea
of having a market place in every
town where the farmer may secure
the cash market price for everything
else that can be raised on a farm,
as well as cotton and cotton seed.
The third chief contributory factor
to the advancement that is being
made is renewed activity in manu
facturing. Not only has the whole
world come to look to the United
States to finance world commerce,
but also it looks to us now as the
base of all manufactured articles.
Manufacturing for some years past
had not been profitable in all lines,
which was due in a large measure to
unequal labor conditions in other
countries as compared with ours, but
more particularly to the fact of keen
competition and jealous trade rival
ry between other nations than ours
which kept prices down below or un
comfortably near the cost of manu
facture. Now, with new trade ter
ritory open to us and the world look
ing to us as a basis of supply for ev
ery needed thing our factories are
running full capacity and prospering
almost without exception. The most
enormous profits of course are felt
in munition factories and kindred
plants and while there are compara
tively few in our Southland, even
their prosperity is indirectly felt
here as their profits seeking further
investment help to lower our interest
rates.
I do not feel that I could fn jus
tice turn from the subject of advance
ment and progress our Southland is
making without giving tribute to one
of the chief underlying causes, edu
cation, the motive power that brings
us to realize our inter-dependence,
and the co-relation that exists be
tween banking, agricultural pursuits,
commerce and manufacturing. Noth
ing speaks more eloquently of our
advancement and progress, contrib
utes more to it, than our fast improv
ing school facilities, and we can be
stow no greater boon to the youth
cf cur land than these splendid op
portunities that are so unselfishly
being put in their way in the form
of modern schools, colleges and uni
versities. Nor should we even stop
by putting these great opportunities
in the way where our youth may
avail themselves of them, but we
should go a steeep further and have
at least a modified form of compulso
ry education in order that the wil
fully ignorant may no longer be a
menace to society and in order that
we as a nation may be better prepar
ed to take the fullest advantage of
tae large opportunities that are open
ing to us.
The Outlook.
In many respects tne commercial
outlook is more promising than it
nas been in the history of our coun
try, but there has never been a time,
wnen sane, safe and conservative
practices were more necessary and
the banket, as no other individual
perhaps, is looked upon as a gui e
to blaze the way into the unknown
future. So gentlemen, the weight of
responsibility lies heavily on the
shoulders of the bankers of this na
tion for what the future has in store
for us. Will present prosperity lead
to extravagences, that will be coun
ternanced with favor by us, yea even
indulged in by us, or shall we sound
a note of warning. Much is being
said these days about preparedness;
let the financiers of this nation be
not behind in the great procession of
the onward march of prosperity, but
on the other hand let them lead the
way with that caution of which they
of all others are keenly capable, safe
The Winder New*, Thurd*|r, April 27, 1111
ly past dangers along the way, and
dig not pitfalls to hinder our progress
as we go, by extravagance ourselves
or counternance or encourage it in
others. The observance of Thrift
Day February 2, will do much toward
counteracting the evils of extrava
gance. By the way, we ought every
one of us advertise Thrift Day and
make it a national day, not a nation
al holiday, of these we have enougl
already, but rather a national work
day. But further than this let us
practice thrift and encourage thrift
and make each day Thrift Day, for
in no other way can we lay better
the foundation of the great doctrine
of preparedness, as it affects ank
ing.
Much uncertainty exists regarding
one threatened evil that may lie
just ahead of us, that is war; some
uncertainty regarding another lessci
evil, and yet one that affects our im
mediate vicinity perhaps more direct
ly, the boll weevil. Of the latter
we are practically sure, and it is
amazing how little attention we are
paying to this. By all the history
of t,he movement of this pest, we art
due to have the boll weevil right
litre in Barrow county next year, or
year after next at the latest, and
possibly this year. Within the spact
of less than five years it is due t(
reach every county, practically, with
in the boundaries of this group and
yet the vast majority of our people
will not take serious note of the fact
until its ravages are actually felt
There is consolation, however, in
the fact that crop diversification is
already practiced to some extent
as 1 have already stated, and I look
forward to a greater prosperity with
in the bounds of this group than
ever before, after we have had time
and opportunity to face new condi
tions wrought by this evil.
Of the possibilities of war, it is
nearly impossible to foretell, or how
it will effect finance. There seems
now little probability of avoidance
of war with Mexico, and day by day
the tension between our nation and
another mighty nation grows tighter.
It seems as if the world is war mad,
and I verily believe that none other
but that splendid American citizen
and leader of our republic, our right
eous, honored and distinguished pres
ident, Woodrow Wilson, has warded
off the calamity even till now, and
if war is inevitable, we can still pin
our faith to his leadership in war
Buy Prince Albert every
where tobacco it told in
toppy red bagt, Sc; tidy red
tint, 10c; handsome pound
and half-pound tin humi
dor*—and—that corking fine
pound crystal-glass humi
dor with sponge-moistener
top that beeps the tobacco
im such clever trim—always!
process that cuts out /**’j I
bite and parch! Prince Albert has always 1 if.ll
been sold without coupons or premiums.
£ a OWr H {b'mn sdj t|isr! ol a /runot xasrl
hoiurr At wd?
rnl Nbt ALDEKI 1
the national joy smoke fl
has a flavor as different as it is delightful. You never lasted the like of it! ’ S
And that isn’t strange, either. fj
tYour wagons and imple
ments should last longer
Every farmer knows his
wagons and machinery will
last longer if kept out of the
weather. It is equally
important to have them
? protected from sun and rain
| 111 w^ien u se *
'ew Ejr >
r FARM WAGON PAINT
is the one protection that we can recommend.
We guarantee it to give a durable and lasting
finish. Ordinarily a gallon of it w ill repaint
all the wagons and machinery on the average
farm.
In addition to saving many times its cost
every year, this paint will keep things look
ing spic'and-span.
Devoe Farm Wagon Paint is made in
green, red, yellow, blue and black. Which
color do you prefer?
SMITH HARDWARE CO.
WINDER ..... GEORGIA
as we have in peace, and know that
we have in him a peerless leader,
statesman, soldier, of whom we have
just cause for pride above all the
nations of the earth.
But whether our own country is
to be involved in war or not, our na
tion has already become the commer
cial center of the earth and our re
sponsibilities though large are not
misplaced. Though the youngest ot
the leading nations of the eartli yet
it is justly entitled to the place, witii
its splendid civilization and immeas
urable resources, and that it will
measure up to the requirements of
these new responsibilities, I have
not the slightest doubt.
FARM LOANS AND INVESTMENTS
I negotiate loans on Barrow county
farm lands; interest is 0 per cent
Men who think they can’t smoke a pipe or roll a ciga- ,-//■
rette can smoke and will smoke if they use Prince
Albert. And smokers who have not yet given P. A. a try- 9
out certainly have a big surprise and a lot of enjoyment 9
coming their way as soon as they invest in a supply. 9
Prince Albert tobacco will tell its own story! 9
RJ. REYNOLDS TOBACCO CO., Wimton-Slem, N. C. |
to 7 per cent, and is payable annu
ally. No d< lay in getting the mon
ey if the titles to your lands are
good. Make your application any
time of the year and the interest and
principal Loth will not be due until
the fall of the year. I
I can place money for individuals
or estates in amounts from $200.00
upwards in loans secured by first
lien on improved farm lands in Gwin
nett, Jackson, Barrow or Walton
counties and paying 7 per cent net
to the lender. All farms are inspect
ed by a good man who knows values,
and the titles to the lands are care
fully examined. In other words, your
money is placed right here at home
on farms. I col'ect interest for in
vestors free of charge. I am in Win
der every Friday. For further in
formation, write S. G. Brown, Atty. r
Lawrenceville, Ga. 12mo.