The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
122.301 - Louisiana
Protests, Boundaries of FRDistricts
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SIM
KO(
,Full cut s85OR - Half out s8502R - Third cut 08503R -_ Fifth cut #8505R.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
FEDLR,
RESERVE BOARD HLE
V.?
:3optorabor 4, 1914.
r your information and guide:nee I boc
to enolosc: :4.1rov,fith a copy of
1atiO
o. 1„
proscribing the motho1 of procodl.xo In appocao
from tho docioion of the Reaerv-a Bank Or3anir..ation
.3ornnittee,
1Zospootfully,
tleorotary 9ro tem.
r. John 3* Syyrr.our,
102 Wall Stroot, Nevi Yoricaty
DUNCAN U. FLETCHER. FLA., CHAIRMAN.
WILLIAM E. CHILTON. W. VA.
JOHN W. KERN. IND.
MARCUS A. SMITH. ARIZ.
JAMES HAMILTON LEWIS. ILL.
REED SMOOT, UTAH.
JACOB H. GALLINGER, N. H.
',Urtifeb Zfraez Zola
CARROLL S. PAGE. VT.
JAMES M. CATHCART. CLERK.
COMMITTEE ON PRINTING.
June 16,1914.
Hon. William G. McAdoo,
Secretary of the Treasury,
Washington, D.C.
Dear Sir:
A constituent of mine asks for the following
Information.
I quote from the letter.
'NEW OBLEANS t PROTEST AT
TEDER.Als RESERVE BANK LOCATION.
“If the infornution is conveniently obtainable,
I would thank you to advise me what official protest,
if any, was nude by New Orleans at the failure, of the
Reserve Bank Organization Committee to designate that
city as the center of a Federal Reserve District.
. "It is rr information a formal protest was filed
in Washington. If so, by whom was it sigled, before
what body was it filed, and with what fate did the complaint meet? Was it withdrawn, did it fail, or is there
yet to be a hearing?.
If there is no objection to giving me this inform
tion and allowing rre to furnish it to this friend, I should
be very glad to have it.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Very respectfully and sincerely,
7-JIM
(./ i
Reg.
114
D_
wink or
g cue
anilliee
UtuL_;c_A5-A.t
•
2.2-30(
1111N Err- C1xTnAi, Nvivrio*AL
Nmw 0'4141.4:ALAN'S, LA..
May 4th, 1914.
To the Reserve Bank
Organization Committee,
Washington, D. C.
Sirs:
VTe enclose herewith resolution of our Board of Directors authorizing the subscription to the capital stock of
the Federal Reserve Bank District No. 5, as required under
your regulations.
Our Directors at the same time adopted a Resolution
of protest over the inclusion of New Orleans in District No.
6, and in transmitting the enclosed formal resolution instruct
me to make known to you its protest, and its reservation of all
its rights to bring to the attention of the Federal Reserve
Board its fomal protest against the illegal districting of
this section of the country, and particularly of the State of
Louisiana; as well as its reservation of such rights of appeal
as it may have to any Federal authority having the right to
deal with the subject.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Very re pectfully,
7-In-CeTresident.
LOUISIANA STATE CHAMBER OF COMMERCE
k
OFFICE OF THE
L
\
SECRETA RY`Th EC/tER: ‘
PRESIDENT:
LEON LOCKE. LAKE CHARLES
)cJiwr
i
MN. BATON
Sec retaxv- Treasurer
„
April 22, 1914.
Honorable Daviq F. Houston,
Secretary of Agriculture,
Washington, D. C.
Dear Sir:By direction of the Board of Directors of
the Louisiana State Chamber of Comme:.ce, I have the .
honor to transmit copy of resolution unanimously adopted
by said body after a dicussion indicating that the resolution accurately voiced the practically unanimous sentiment of the constituent bodies and the sections of the
state representei by the members of said Board of Directors.
Very truly yours,
Secretar:/- Treasurer
GAW/EFL
(:-KTC)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Regional Bank Resolution
ROUGE
Action of the Reserve Bank Organization Committee
in Omitting New Orleans from the
Reserve Bank Cities.
Resolution thereon by the Board of Directors of the Louisiana
State Chamber of Commerce in session on Ari1 15, 1914.
WHEREAS the Federal Reserve Bank Organization Committee
has seen fit to omit New Orleans as one of the cities for the
location nf a federal reserve bank; and
ITHEREAS, the city of New Orleans, as the financial,commercial and industrial metropolis of the South for the handling
:course of trade in this tern of every business in the custemartry, is entitled by every right te the posession of such a lank;
and,
WHEREAS, the citizens of New Orleans in mass meeting
Bank
assembled on April 4th, objected tr) the ,:ction of the Reserve
csdvancOrganization Committee and pointed out in detail the claims
ed by New Orleans for the location of such bc_nk;
THEREFORE, BE IT RESoLVED, that the Louisiana State
the
Chamber of Cmmerce, a body oru.nized to represent and premote
through
clmmeroial and 3enera1 welfare of the State of Louisiana,
its Bard of Directors assembled at New Orleans this fifteenth d_ly
of April, 1914, unequivocally endorses the action r'f the mcss
meeting of the citizens of New Orleans, in respect to the purely
business reasons advanced, and urges:
(1) .L rearrangement of the location of these banks on
the part of the Reserve Bank Organization Conmittee and the inclusirn of New Orleans, and friiling in this
(2) That an appeal be made to the Federal Reserve Bc:m.rd •
when orgnized, to take such action, and failing in this
(3) To appeal to the Cruagress of the United States fcr
an investigation if the whole matter with a view to ascertaining
the causes which led to the selection of the cities named and with
the further view of having New Orleans designated as a city for
the location of one of the federal reserve banks.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•-• -
LOUISIANATATE CHAMBER OF COMMERC
SICSVaNi. BOARD
1-ILE
OFFICE OF THE
SECRETA RV-TREASURER:
PRESS DENT:
LEON
LOCKE.
LAKE
G. A. WATERMA3015N Ro
CHARLES
q:Ak
-rs- Treasurer
,
4wwA
April 22, i914.
Honorable 7oodrow Wilson, President,
3
United States of America,
vr-r'rr)
Executive Offices,
Washington, D. C.
Dear Sir:By direction of the Board of Director:: of
the Louisiana State Chamber of Commerce, I have the
honor to transmit copy of resolution unanimously adopted
by said body after a discussion indicctinE that the resolution accurately voiced the practically unanimous sentiment of the constituent bodies and the sections of the
state represented by the members of said Board of Directors.
Very truly yours,
Secretary- Treasurer
GAWEPL
(Erc) Regional Bank Resolution
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Action of the Reserve Bank Organization Committee
.in Omitting New Orleans from the
Reserve. Bank Cities
Resolution thereon by the Board of Directors of the Louisiana
State Chamber of Commerce in session on A:ril 15, 1_914.
7HEREAS the federal Reserve Bank Organization Committee
has seen fit to orAA New Orleans as one of the cities for the
location -4 a federal reserve bank; and
7HEREAS, the city of New Orleans, as the financial,com—
mercial and industrial metroolis of the South for the handling
of every business in the custemar
course of trade in this tern—
try, is entitled by every right tr the
osession of such a br,k;
end,
WHEREAS, the citizens of New Orleans in mass meeting
Bank
assembled. on April 4th, objected tr) the ,:ction of the Reserve
cdvanc—
Organization Committee and pointed out in detail the claims
ed by Nev Orleans for the location of such bank;
State
THERE:70T], BE IT RESoLVED, that the Louisiana
the
Chamber of Cnmmerco, a body organized to represent .elid prcm.-te
through
onmmereial and general welfare of the State of Louisiana,
its Bard of Directors assembled at New Crleans this fifteenth dL.y
Of April; 1914, unequivocally endorses the action r'is the mc,ss
meeting of the citizens of New Orleans, in respect to the purely
business reasons advanced, and urges:
(1) A rearrangement of the location of these banks on
the part of the Reserve Bank Organization Connittee and the inclu—
sirn of New Orleans, and failing in this
42) That an appeal be made to the 7ederal Reserve Bc .l.rd
when organized, to take such action, and failing in this
(3) To appeal to the Onngress of the United States fcr
an investigation if. the whole matter with a view to ascertaining
the causes which led to the selection of the cities named and. with
the further view of having New Orleans designated as a city for
the location of one of the federal reserve banks.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
LOUISIANA TATE CHAMBER OF COMMERCE
.
inRm7,:-1—:'
1\
OFFICE OF THE
--'-'--
.A0l5:eCA(V
PRESIDENT:
LEON
AR
LOCKE. LAKE CHARLES
Secretary- Treasurer
i
\
I t'
April 22, J'J14,
Honorable William G. LicAdoo,
Secretary of the Treasury,
Washington,
C.
Der..- 2 Sir:By direction of the Board of Directors of
the Louisiana State Chamber of Commerce, I have the
honor to transmit copy of resolution unanimously Pdoptc4,
by sai-:1 body after 2. rUscussion indicating that the resolution accurately voiced the practically unanimou
:enti-
ment of the constituent bodies and the sections of the
state represented by the members of said Board of Director.
Very truly yours,
•
Secretary- Treasurer
GAVEFL
(ENC) Regional Bank Resolution
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Action of the Reserve Bank Organization Committee
in Omitting New Orleans from the
Reserve Bank Cities.
Resolution thereon by the Board of Directors of the Louisianc
State Chamber of Commerce in session on
15, 1914.
WHEREAS the Elederal Reserve Bank Organization Cemnitter
has seen fit to omit New Orleans as one of the cities for the
location if a federal reserve bank; and
WHEREAS, the city of New Orleans, as the financial,commercial and industrial metroolis of the South for the handling
of every business in the customary course of trade in this tern try, is entitled by every right tr the posession of such a bc:nk;
and,
WHEREAS, the citizens of New Orleans in mass. meeting
assembled on April 4th, objected to the ,:,ction of the Reserve Bank
Organization Committee and pointed out in detail the claims advanced by hew Orleans for the location of such bank;
THERE-TORE, 13: IT 13ES0LVED, that the Louisiana State
the
ChAnber tf
t
Cmmerce, a body organized to represent .and nrcm.-)te
commercial and 7enera1 welfare of the State of Louisiana, through
its B -)ard of Directors assembled at New Orleans this fifteenth d:.-y
of April, 1914, unw.luivocally endorses the action ef the mass
meeting of the citizens of New Orleans, in respect to the .purely
business reasons advanced, and urges:
(1) A rearrangement of the location of these banks on
the part of the Reserve Bank Organization Committee and the inolusiem of New Orleans, and failing in this
(2) That an appeal be made to the 7ederal Reserve Bc:I.rd
When organized, to take such action, and failing in this
(3) To appeal to the Ccmgress of the United States for
an investigation if the whole matter with a view to ascertaining
the causes thich led to the selection of the cities named and with
the further view of having New Orleans designated as a city for
the. location of one of the federal reserve banks.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
LOUISIANAtTATE CHAMBER OPCOMMERCE
‘30P,VD
OFFICE OF THE
VEteAktk,.,
PRESIDENT:
REASIJ RER
G. A. WATERMAN, BATON Rouo
LEON LOCKE. LAKE CHARLES
Secretary- Treasurer
April! 22
4.•
Honorable John Skelton Williams,
Assistant Secretary of the Treasury,
Washington, D. C.
Dear Sir:By direction of the Board of Directors of
the Louisiana State Chamlier of Commerce, I have the
honor to transmit copy of resolution unanimoUsly adopted
by said body
fter o discussion indicntin
that the re-
solution accurately voiced the proctically un?nimouc-. sentiment of tne constituent oodles end the sections of
state represented by the members of said Board
Very tru
Directors.
•urs,
Secretory- Treasurer
GA'!/EFL
(ENC) Regional Bank Resolution
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
S
Action oi be Reserve Bank Organization Committee
in Omitting New Orleans from the
Reserve Bank Cities.
Resolution thereon by the Board of Directors of the Louisiana
State Chamber of Commerce in session on Aril 15, 1914.
WHEREAS the .2edera1 Reserve Bank Organization Committee
has seen fit to ()Lit New Orlcans as one of the cities for the
location if a federal reserve bank; and
VIHEREAS, the city of New Orle=s, as the financial,commer.eial and industrial metro-,,olis of the South for the hcndling
of every business in the customary course of trnac in this tern try, is entitled by every right to thc
osession of such a honk;
d,
WHEREA3, the citizens of New Orleans in mass meeting
,ssembled on April 4th, objected to the action of the Rescrve Bank
Organization Committee and pointed out in detail the claims cdvanced. by New Orleans for the location of such bank;
THEREFORE, BE IT RESoLVED, that the Louisiana State
Chamber of Cimmerce, a body orudlized to represent and
rcm,-)te the
cimmercial and general welfare of the State of Louisiana, through
its
Bard. of
Directors assembled at tlew Orleans this fifteenth day
of April, 1914, unequivocally endorses the action ef the m,';'.ss
meeting of the citizens of New Orleans, in respect vo the purely
business reasons advanced, and urges:
(1) A rearrangement of the location of these banks on
the part of the Reserve Bank Organization Connittee and the inclusirn of New Orleans, and filing in this
(2) That an appeal be maae to the 7ederal Reserve Bcrd
when orgzanized, to take such action, ,T.nc,_ failing in this
(3) To appeal to the Cnngress of the United States fer
an investigation if the whole matter with a view to ascertaining
the causes which led to the selection of the cities named anC, with
the further view of having New Orleans designated as a city for
the location of one of the federal reserve banks.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.t4
THEO. N. VAIL, PRESIDENT
RECEIVED AT
10C AN 15 NL
548
'COVINGTON
LA APRIL 21 1914
PRESIDENT WOODROW WILSON
APR 30 1914
WASHINGTON DC,
WE STRONGLY PROTEST AGAINST THE DISCRIMINATION SHOW[
6hit.A N
NEWORLEANS BY YOUR FEDERAL RESERVE BANK COMMITTEE
VIOMANS PROGRESSIVE UNION
204AM
EI APR 22 1914
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
RhOEIVED
APR 2 3 1914
Res. flamic Org Committee
F
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ELEGRAM.
he11I1hifr
ft
01115e,
++
1 PO „TV 30 Reply prepaA
New Orleans, La., April 8,1914.
The President:
In the name of four hundred thousand people I ask for five minutes
of your time to read with your own eyes a letter i addressed to you April
—
sixth.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
John S. Seymour.
171 "rst
APR I G 1914
Kes. Balak 0-g Committee
JOHN S.SEYMOUR
102 WALL ST. NEW YOR
419 1BERVILLE ST NEW ORLEANS
New Orleans,Apri1 6th,1914.
Hon. Woodrow Wilson, President,
Washington, D. C.
Dear Sir:
E'
V
APR 1 0 1914
Res. &Ink C41:
r
-oininUfe?
Letts take a look at New Orleans.
Within the memory of Children who are still attending
School, New Orleans was a City built in the Lluds in the midst of a
Swampl much of it below Sea level with the great Mississippi River
for several months of the year ten,fifteen and sometimes twenty
feet above ust with surface drainage,no Sewerage,Foul Cistern Water
to drink and unfit for White people to live in for a period of Six
to Eight months of each year, Couldtnt even bury our Dead thad to
put them in Vaults above the ground.
Something like ten years ago,her people after many years
of effort succeeded in organizing a Board of Prominent Engineers
of known ability,who were willing to stake their reputations on a
Plan to Sewer the City and drain it. After two extra sessions of
the State Legislature to legalize a Bond issue to defray the expenses of carrying out this plano the City advertised in the Worlds
Markets, Europe and America for bids for these Bonds to obtain
the money for the work. When the time arrived to open these bids
there were none land the Bonds were taken and floated by our own
Banks and our own people.
The contrast was seen by one who is near and dear to you,
who recently visited us,Clean well Paved streets,a bountiful
supply for all purposes of the best Water in the World,(Our filteration Plant has been copied by New York) Sanitary conditions equal
or better than New York and Chicago,(Ve actually have buildings
with Cellars) and all that goes to make up a great Cosmopolitan
City,all due to our own efforteour own labney,our own energye and
our own perueverance s and if you had visited us during your Vacation,
you would have seen a Harbor with more than enough Capacity to
float all of the Ships of all of the Navies of the Civilized World,
lined with something like ten or fifteen miles of dooks,covered
with Steel shedse all owned by herself and Managed by her own Board
of Commissioners,with additional room for additional docks to an
unlimited extent o to take care of the great Commerce which has been
coming,and which will necessarilly continue to come through this
Port in the hereafter,and handling an amount of business secona
only to New York, You would have seen Banks with Capital and Resources equal to all of the three Cities,which have been named for
Regional Banks in the South o you would have seen evidence of Commerce
more than equal to all of these three Cities combined,you would
have seen a City which does big things in a big way,and a City which
has been equal to any emergency,which has ever arisen within her
borders,and when I say equal I mean,able to take care of herself
under any conditions.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
/Ion W. Wilson,Pree #2.
•
Let's take a look at a few of the things she's done.
During 1905a she made it possible to construct the Panama Canal,
by demoatstrating the fact that Yellow Fever can be controlled and
destroyed anywhere,
She woke up one morning in Julysto find some.
thing like fifty cases of the Fever in her Italian quarter,it had
been spreading there for a month or two without the knowledge of
our authoritiess and all of the lower end of the town was Infested
by Infected Mosquitoes,
Our banks furnished immediately suffi'cient funds to begin the work,and she screened Sixty Thousand
Cisterns in a weeka thus shutting off the breeding ground for the
Mosquitoea and by destroying by various means all of the Mosquitoes
in the Atmospherea destroyed the Germa and the Fever was destroyed
with them, This job was done during the Summers by an Episcopalian
Preacher,with the Political (Democrats) ward boses of the town,as
his Lieutenents. The job was complete,and by adopting the New Orleans method of dealing with the disease,not only our Southern
States,but all Cities in Tropical America as well have cleared
themselves of any trace of it in such a way that none of them have
any fear of it again. The Panama Canal could not have been constructed without some means of destroying Yellow Fever on the
Isthmus.
It is within your memory the time when all of the prominent
Cities in the South were overrun and controlled by Carpet Bagersa
Scallawags and Negro Politicians. The City of New Orleans in the
early Seventies, ingle handed and alone,organized her White league
and by force of Arms openly defied the Goverment authorities,then
in control of the Republican partya and demonistrated that the
White people of the South,would at any cost maintain this as a
White Man's countrya regardless of what any other portion of the
country might think about it,and if you had visited use you would
also have seen a little Monument at the foot of Canal Streetorected
to the memory of the good White Mena who sacrificed their lives in
doing this.
This however Is a matter of Hlstorya with which you
are familiare and the details need not be mentioned here.
It is also within your memory the time when no Man's life
in America was safe from the Mafia,and other Italian Secret Societiese when the City of New Orleans in broad day light at noon in
the Center of th.?, City organized to destroy this Mafia,and by executing something like Six of the leaders,who had Murdered our
Chief of Police,the Italians all over this country were taught that
they must respect Public sentiment in Americas eventhough at the
time they had no respect for the Law.
Another great service that was done for the South within
your memory,was only a few years ago s when a Bear Clique of New York
Gamblers attempted to depress the price of Cotton to something
like half of its value. Two lading New Orleans Cotton men,with
the assistance of just a few men from the South,went to New York
entered the market to hold up the price s and force the World to pay
fair value.
In doing so they were told by some of the New York
Banks,that Warehouse Receipts covering Cotton in New Yorke would
These men with the assistance of our
not be good collateral.
New Orleans Banks obtained the money elsewhere to enable them to
hold up the market and force a fair price,and this demonstration
hi had tae effect during subsequent years of holding up the price
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
#3.
•
of our great Staples and has been the direct means of the present
prosperity„which is seen all over the South.
We have recently seen the New York Cotton Exchange adopt
rules for trading,which have been in effect on the New Orleans
Cotton Exchange for more than twenty years.
During the financial Panic of 1907, when the Cotton Bills
of Lading from the South provided the means for bringing Foreign
Gold to relieve the financial stringency and save the New York
Banks from disaster.
Who was it that furnished the greatest
quantity of these Cotton Bills, Was it Richmond ? Was it Atlanta 9
Was it Dallas ? Who was it ? you know without my telling yous and
what Bank was it in the South that brought Gold direct from Europe,
to relieve the Stringency in the South, when the New York Banks
would not let us have the money realized f.eam our Cotton Bills
Lading. It was a New Orleans Bank,and you can have the name for
the asking.
Having done these things„New Orleans is now asked to look
to a comparatively insignificant City for her supply of money, a
City which is practically unknown outside of the borders of the
United States, a City in which I doubt,if there are half a dozen
people who could at the present time take a Foreign Invoice,made
up in Foreign money with Foreign Bills of Lading and other
Foreign documents attached and figure out just what it is.
In
other words, a City in which foreign trading is utterly unknown,
and I ask you is it right,after all these years during which NewOrleans has displayed her grit,her perseverance and her energy
as well as her intelligence,that we should be ignored entirely in
the distribution of the Regional Banks. Is she to be humilated in
this way with your knowledge and consent o merely to satisfy petty
jealousy on the part of our neighbors,and to gratify Political
ambitions of a few men ewho up to the present time have been in
control of the matter of distributing these Banks.
Anybody can start a store at Cross Roadss or Railroad Crossings
give it the name of a town and start the beginning of a City, but
it takes men with Nerve to build and Maintain Railroads through
Swamps,Blot out Yellow Feversaad overcome Negro domination. We
have done all these things and more, we have made a City out of a
Mud holes and a City which future generations will look to with
Pride,just as they now look to New York, Chicago and San Francisco,
an in alloting these Regional Banksoome of us who have helped
to make New Orleans what she issfeel that we have earned the right
for a place next to New York.
It is gratifying to your friends all over the South and the
North and West as well,to know that your administration has been
prompted by,and your actions have been Governed by Clean,Pure motivess and a great majority of us Democrats as well as Republicans look
to you to see to it,that favoritism does not enter into any departments of the Goverment,and I write you only to ask that you use your
influence to secure for us fair treatment in this mattere believing
that you will do so without fear or favor.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Yours truly
•
TELEGRAM.
he
itite
MSC,
asititigtan.
TIM. RA.
170-
8:00 p.u.
APR
3
Zi1 v_A 6 1914 :
ic
New Orleans, Louisiana, April 4, 1914.
THE PRESIDENT.
We protest against the action of the reserve bank organization committee
in failing to recognize the city of New Orleans in the apportionment of the
United States
into federal reserve districts.
The Atlantic Seaboard and
the Pacific Seaboard have both been recognized while the Gulf Coast has been
irnored. We believe further that the districts as organized are not apportioned
with due regard to the convenience and cubtomary -courseof business as
provided by law. we feel that this city being the metropolis of the South
both in point of population and on account of the magnitude of its financial
transactions shouldhave been selected and we ask that our claims be given
further consideration.
Commercial National Bank;
\,/ Whitney Central National Bank;
Hibernian National rank;
New Orleans National Bank;
Interstate Trust and Bunking Co;
Commercial Germania Trust and Savings Bank;
Whitney Central Trust and Savings Bank;
netropolitan Bank;
Hibernia Bunk and Trust Co.;
United States Safe Deposit and Savings Bank;
Canal Bank and Trust Co.;
City Bank and Trust Co.;
Citizens Bank and Trust Co.;
C' )
c
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1914
TELEGRAM.
he
2,4pp 6
1914
3:
41;7
hite
CUSet
ashingion.
6111. (90. ;1. L. 9:20 a.m.
New Orleans, Louisiana, April 4-5, 1914.
'ME PRESIDENT.
The Telw Orleans Real Estate Auction Exchange endorsee the reroltln,,s
adopted at a mass meeting of the citizens of rew Orleans held tonight
demanding a congressional investigation of the acts of the reserve bankor'7an.itation committee resulting in what we believe selection of citie,J
and territories bused on lines entirely at variance with the spirit and
letter of the currency act. New Orleans and other important citiee
becn unjustifiably ignored and we believe 1, reopening cf the question vd11
result in justice being done.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
C. A. Teenier,
Acting President, “ew Orleans Real Estate
and Auction E: change.
TELEGRAM.
4.4
y-
ibr
rr
1914
6
•
'•
;
:
•
OCEJ
(IESONIEcd
ta_Wa.
•-•
te
]tite
LULU,
nthingion.
40,A*"
0\-
7"11. RA. 136. N. L. 9:25 a.m.
Aew orlouns, Louisiana, April 4-5, 19111.
, nt1-4%$
\°4.
THE PR}T.IDENT.
IttO
C71, The '!ew rrleans Association of Coramerce concurs igumrtify particular in
the resolutions adopted at a mass neeting of the citizens of !Tew Orleans
'onight, demanding a congressional investigation of the acts of the reserve
bank organization coriuilittee. 'Ve find a. very wide spread fear among the
business and comercial interests in this city that the success of the
new banking system is in peril by what we believe to be an irjektion of
political considertions in the selection of reserve b,nking cities and
districts and believe that confidence in the future of the reserve system
can only be restored and this fear dispelled by a proutpt unbiased and
thorough going congressional investigation into the decision of the reserve
bank organization committee.
We urge such an investigation us a pressing
commercial need.
The :':ew Orleans:Asso iation of Commerce,
by Edgar B. stern. Acting President.
c 17-tj
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1914
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MARTIN BEHR MAN,
.1%11:AY0R.
April 4, 1914.
ri•
)
Dear Sir:
:;
I?,
V
jai
APR 11 1914
In accordance with the instructions of the
Res. sank Org CommAtee
mass meeting of the entire citizenship of the City of New
Orleans, I have the honor to hand you herewith copy of,resolutions adopted by that meeting by a rising vote on A)ril 4, 1914.
An expression of your views on the subject
matter of this resolution will be appreciated.
Yours very I.ruly,
{(/,"
CHAIRMAN OF LPETING.
Honorable W. G. McAdoo, Chairman,
Reserve Bank Organization Committee,
Washington, P. C.
En c.
•
RESOLUTIONS
•.• • OF.• •.
Mass Meeting of the Citizens of New Orleans
Protesting against the unfair location of Federal
Reserve Banks and the Injection of Politics
into the National Banking System.
At a mass meeting of the citizens of NEW ORLEANS, convened
upon a joint call issued by the
New Orleans Clearing House Association,
New Orleans Association of Commerce,
New Orleans Board of Trade,
New Orleans Stock Exchange,
New Orleans Sugar Exchange,
New Orleans Contractors & Dealers Exchange,
New Orleans Real Estate Auction Exchange,
the following resolutions were unanimously adopted, by a rising
vote:
WHEREAS, The Federal Reserve Act constituted the Secretary of
the Treasury, the Secretary of Agriculture, and the Comptroller of
the Currency as a "Reserve Bank Organization Committee," for the
purpose of locating the Federal Reserve Banks and outlining the
Federal Reserve Districts;
WHEREAS, That Act expressly provided that the Federal Reserve
Cities and the Federal Reserve Districts should be apportioned
with due regard to the convenience and customary course of
business within the United States and with foreign countries, and
expressly provided that an investigation should be made by .the
Organization Committee, in order fairly to ascertain what the said
convenience and customary course of trade might be;
WHEREAS, The said Organization Committee made such an
investigation as was required by the statute creating it, and thereby
secured valuable information as to the magnitude, importance,
convenience and customary course of the business of the various
sections of the country, and as to the proper location of the Reserve
Cities and the Reserve Districts contemplated by the Act;
WHEREAS, Said Committee, instead of locating the Reserve
Cities and Reserve Districts in accordance with the convenient and
customary course of business, as pointed out in unmistakable
terms by their investigation, has proceeded in many instances to
locate and designate those Cities and Districts in utter and absolute
disregard of the evident convenience and customary course of
business, and in utter and absolute disregard of the just claims of
certain important cities and communities, which claims are predi-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
cated upon convenience, customary course of business, population,
commercial importance, geographical position and financial requirements and capabilities;
WHEREAS, The action §0 taken in those cases indicates only too
plainly that the conclusions reached were arrived at, not by a
careful and impartial consideration of the merits of the claims of
the respective parties, given with an eye single to the greatest
good for the greatest number, but were reached and based upon
considerations of political expediency or personal interest and
aggrandizement;
WHEREAS, The fact that politics and the false guide of personal
interests have entered into the conclusions reached unmistakably
appears from the selection of Richmond, with a meagre population
of 127,628 and a total of banking resources of $50,000,000, and
making tributary to this comparatively unimportant mart of
trade the Cities of Baltimore and Washington; the former with
its population of 558,485 and its local banking resources
of $309,669,000.00, and the latter with its prestigd and importance as a national capital, to which is added a population of
331,069 and banking resources of $110,081,000.00; the selection
of Atlanta, a City in Georgia, with a population of not
more
than 154,839 and a total of banking resources amounting
to
$48,000,000 and serving only a purely local territory, a city selfconfessedly unable, without assistance, to support a Reserve Bank,
and the making subservient to this comparatively unimportant
city
so large and important a City as New Orleans, the metropolis of
the South, the second port of the whole United States, the largest
manufacturing center in the South (its manufactures being greater
by more than $18,000,000 than the total manufactures of Dallas
and Atlanta combined), the key to, the dominant factor of, and
the acknowledged financial center of the vast valley of the lower
Mississippi, a city whose population of 339,075 is one and onethird times the combined populations of Dallas and Atlanta, whose
banking capital is more than one million dollars greater than the
combined capital of the Banks of Dallas and Atlanta, whose banking resources of $104,829,110.00 is greater by $14,829,110.00
than the combined banking resources of Dallas and Atlanta, whose
assessed valuation is one and one-third times as great as the assessed
valuations of Dallas and Atlanta combined, whose enormous tributary country, whose early development of important banks and
unrivalled banking history, whose position as the premier port
of the Gulf of Mexico, the only seaboard which has been deprived
entirely of recognition, whose presently tremendous and steadily
increasing foreign trade through the Panama Canal and otherwise
with its necessarily tremendous volume of foreign bills and
attendant banking requirements, and whose acknowledged ability
to support and care for a Reserve Bank alike demanded the location within its borders of such a Bank;
The arbitrary outlining of a Reserve District in such a way as to
cut off from New Orleans the greater part of its own convenient
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
and tributary State of Louisiana, and the thrusting of that City
as an adjunct into a district the greater part of which it normally
and customarily leads.
The thrusting of the remainder of the State of Louisiana customarily tributary to New Orleans into an alien and distant
Reserve District in contravention of its inclination, its convenience, its natural course of trade, its customs since time immemorial,
and its logical channels of finance;
WHEREAS, The foundation of the banking system of this great
country, not upon the firm rock of its own inherent merit and
applicability to the needs of the whole people, but upon the moving
sands of the temporary demands of political faction must necessarily result in disaster to the commerce and industry of the
country and danger to our republican institutions;
Now, THEREFORE, BE IT RESOLVED, That the confidence of this
community in the entire proposed banking system as a system
founded on an earnest effort to meet the needs of the whole people,
without regard to geographical location or political affiliation, and
administered by impartial heads without bias or partisanship, is
rocked and rent to its very foundation stone; that this community
sees in a money power thus utilized in its inception to pay political
debts and forge political fetters a menace to this Republic far
more overwhelming than that which threatened the United States
of Andrew Jackson, and caused the dissolution of the Bank of the
United States; that this community foresees the upbuilding in this
country of ours of a plutocracy having at its command the vast
financial resources of the Government, using those resources to
increase its power and to maintain its sway, a plutocracy deaf to
reason, blind to justice, scornful of right; that this citizenship now
rises to crush in its infancy such an octopus and demands without
delay a Congressional investigation of the methods used and of the
influences brought to bear upon the Reserve Bank Organization
Committee, and a relocation of the Reserve Districts and Cities in
accordance with the just requirements of the business of the
country and the provisions of the Currency Act; that this community demands in no uncertain terms that the Reserve Bank
Organization Committee be taught once and for all time that they
serve and do not dominate, that their law is the welfare of the
State, not the welfare of their personal friends and political allies;
that they are an instrument, not an autocrat; that they are not
greater than but subservient to the people who created them;
BE IT FURTHER RESOLVED, That copies of these resolutions be
sent to
THE PRESIDENT OF THESE UNITED STATES,
THE RESERVE BANK ORGANIZATION COMMITTEE,
THE SENATORS FROM LOUISIANA,
THE CONGRESSMEN FROM LOUISIANA,
THE MEMBERS OF THE UNITED STATES SENATE,
THE MEMBERS OF TILE HOUSE OF REPRESENTATIVES,
and
THE PUBLIC PRESS.
New Orleans, La., April 4, 1914.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I have the honor of presenting to you
a copy of the resolutions adopted by the entire citizenship
of the City of Yew Orle:-ins in mass Ir.oeting assembled on
April 4, 1914.
The resolutions speak for themselves, and
as the subjcct mutter is of the utmost importance, I trust
that it will have your cc'reful consideration.
Very respectfully yours,
f
Honorable Woodrow Tilson,
President, United States of America,
Washington, D. C.
•
RESOLUTIONS
Mass Meeting of the Citizens of New Orleans
Protesting against the unfair location of Federal
Reserve Banks and the Injection of Politics
into the National Banking System.
At a mass meeting of the citizens of NEW ORLEANS, convened
upon a joint call issued by the
New Orleans Clearing House Association,
New Orleans Association of Commerce,
New Orleans Board of Trade,
New Orleans Stock Exchange,
New Orleans Sugar Exchange,
New Orleans Contractors & Dealers Exchange,
New Orleans Real Estate Auction Exchange,
the following resolutions were unanimously adopted, by a rising
vote:
WHEREAS, The Federal Reserve Act constituted the Secretary of
the Treasury, the Secretary of Agriculture, and the Comptroller of
the Currency as a "Reserve Bank Organization Committee," for the
purpose of locating the Federal Reserve Banks and outlining the
Federal Reserve Districts;
WHEREAS, That Act expressly provided that the Federal Reserve
Cities and the Federal Reserve Districts should be apportioned
with due regard to the convenience and customary course of
business within the United States and with foreign countries, and
expressly provided that an investigation should be made by the
Organization Committee, in order fairly to ascertain what the said
convenience and customary course of trade might be;
WHEREAS, The said Organization Committee made such an
investigation as was required by the statute creating it, and thereby
secured valuable information as to the magnitude, importance,
convenience and customary course of the business of the various
sections of the country, and as to the proper location of the Reserve
Cities and the Reserve Districts contemplated by the Act;
WHEREAS, Said Committee, instead of locating the Reserve
Cities and Reserve Districts in accordance with the convenient and
customary course of business, as pointed out in unmistakable
terms by their investigation, has proceeded in many instances to
locate and designate those Cities and Districts in utter and absolute
disregard of .the evident convenience and customary course of
business, and in utter and absolute disregard of the just claims of
certain important cities and communities, which claims are predi-
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
cated upon convenience, customary course of business, population,
commercial importance, geographical position and financial requirements and capabilities;
WHEREAS, The action so taken in those cases indicates only too
plainly that the conclusions reached were arrived at, not by a
careful and impartial consideration of the merits of the claims of
the respective parties, given with an eye single to the greatest
good for the greatest number, but were reached and based upon
considerations of political expediency or personal interest and
aggrandizement;
WHEREAS, The fact that politics and the false guide of personal
interests have entered into the conclusions reached unmistakably
appears from the selection of Richmond, with a meagre population
of 127,628 and a total of banking resources of $50,000,000, and
making tributary to this comparatively unimportant mart of
trade the Cities of Baltimore and Washington; the former with
its population of 558,485 and its local banking resources
of $309,669,000.00, and the latter with its prestige and importance as a national capital, to which is added a population of
331,069 and banking resources of $110,081,000.00; the selection
of Atlanta, a City in Georgia, with a population of not more
than 154,839 and a total of banking resources amounting to
$48,000,000 and serving only a purely local territory, a city selfconfessedly unable, without assistance, to support a Reserve Bank,
and the making subservient to this comparatively unimportant city
so large and important a City as New Orleans, the metropolis of
the South, the second port of the whole United States, the largest
manufacturing center in the South (its manufactures being greater
by more than $18,000,000 than the total manufactures of Dallas
and Atlanta combined), the key to, the dominant factor of, and
the acknowledged financial center of the vast valley of the lower
Mississippi, a city whose population of 339,075 is one and onethird times the combined populations of Dallas and Atlanta, whose
banking capital is more than one million dollars greater than the
combined capital of the Banks of Dallas and Atlanta, whose banking resources of $104,829,110.00 is greater by $14,829,110.00
than the combined banking resources of Dallas and Atlanta, whose
assessed valuation is one and one-third times as great as the assessed
valuations of Dallas and Atlanta combined, whose enormous tributary country, whose early development of important banks and
unrivalled banking history, whose position as the premier port
of the Gulf of Mexico, the only seaboard which has been deprived
entirely of recognition, whose presently tremendous and steadily
increasing foreign trade through the Panama Canal and otherwise
with its necessarily tremendous volume of foreign bills and
attendant banking requirements, and whose acknowledged ability
to support and care for a Reserve Bank alike demanded the location within its borders of such a Bank;
The arbitrary outlining of a Reserve District in such a way as to
cut off from New Orleans the greater part of its own convenient
••'
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
and tributary State of Louisiana, and the thrusting of that City
as an adjunct into a district the greater part of which it normally
and customarily leads.
The thrusting of the remainder of the State of Louisiana customarily tributary to New Orleans into an alien and distant
Reserve District in contravention of its inclination, its convenience, its natural course of trade, its customs since time immemorial,
and its logical channels of finance;
WHEREAS, The foundation of the banking system of this great
country, not upon the firm rock of its own inherent merit and
applicability to the needs of the whole people but upon the moving
sands of the temporary demands of political faction must necessarily result in disaster to the commerce and industry of the
country and danger to our republican institutions;
Now, THEREFORE, BE IT RESOLVED, That the confidence of this
community in the entire proposed banking system as a system
founded on an earnest effort to meet the needs of the whole people,
without regard to geographical location or political affiliation, and
administered by impartial heads without bias or partisanship, is
rocked and rent to its very foundation stone; that this community
sees in a money power thus utilized in its inception to pay political
debts and forge political fetters a menace to this Republic far
more overwhelming than that which threatened the United States
of Andrew Jackson, and caused the dissolution of the Bank of the
United States; that this community foresees the upbuilding in this
country of ours of a plutocracy having at its command the vast
financial resources of the Government, using those resources to
increase its power and to maintain its sway, a plutocracy deaf to
reason, blind to justice, scornful of right; that this citizenship now
rises to crush in its infancy such an octopus and demands without
delay a Congressional investigation of the methods used and of the
influences brought to bear upon the Reserve Bank Organization
Committee, and a relocation of the Reserve Districts and Cities in
accordance with the just requirements of the business of the
country and the provisions of. the Currency Act; that this community demands in no uncertain terms that the Reserve Bank
Organization Committee be taught once and for all time that they
serve and do not dominate, that their law is the welfare of the
State, not the welfare of their personal friends and political allies;
that they are an instrument, not an autocrat; that they are not
greater than but subservient to the people who created them;
BE IT FURTHER RESOLVED, That copies of these resolutions be
sent to
THE PRESIDENT OF THESE UNITED STATES,
THE RESERVE BANK ORGANIZATION COMMITTEE,
THE SENATORS FROM LOUISIANA,
THE CONGRESSMEN FROM LOUISIANA,
THE MEMBERS OF THE UNITED STATES SENATE,
THE MEMBERS OF THE HOUSE OF REPRESENTATIVES, and
THE PUBLIC PRESS.
New Orleans, La., April 4, 1914.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,STAL
TEL=:GRAPH
N I L HT
CABLE
LETTE
COMPANY
GRAM
THE POSTAL TELEGRAPH-CABLE COMPANY (INCORPORATED) TRANSMITS AND DELIVERS THIS NIGHT LETTERGRAM SUBJECT TO THE
CLARENCE H. MACKAY. PRESIDENT.
TERMS AND CONDITIONS PRINTED ON THE BACK OF THIS BLANK.
Amon.
DELSVINLV NJ U
EG U.-ZIVEC:t A-r
la E.Ft
•1
INDEPENDENT
COMPETITIVE
PROGRESSIVE
4411nonf 336 nl 3 extra
NewOrleans L A April 4-14
Hon Wm G McAdoo
Chairman, Reserve Bank Organization Committee
Washn DC
At a meeting of the citizens of NewOrleans held tonight the following
resolutions wfre unEn imois ly adopted by a rising vote and I, as chairman
of the meeting, was instructed to wire them to you; now, therefore, be
it resolved, that the confidence of this community in the entire pro—
posed banking stem as a system founded on an earnest effort to meet
the needs,of the whole people, without regard to geographical location
of political affiliation, and administered. by
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
tit
Lit
Ii
t
S.
THE POSTAL TELEGRAPH-CARLE COMPANY (INCORPORATED) TRANSMITS AND DELIVERS THIS NIGHT LETTERGRAM
SUBJECT TO THE
TERMS AND CONDITIONS PRINTED ON THE RACK OF THIS BLANK.
aQ aIv
INDEPENDENT
AT
COMPETITIVE
CLARENCE H. MACKAY. P
fiaL.IVILFW
ros1, L.ot
SIDLNT.
Eft
PROGRESSIVE
elifeetOto Hon. WM. G. McAdoo., Ohm Reserve Bank Ogn
Oom i WashnDC.
impartial heads without bias or partisanship, is
rocked and rent to
its very foundation stone; that this commu
nity sees in a money power
thus utilized in its inception to pay
political debts and forge polit—
cal fetters a menace to this republic far more overw
helming than that
which threatened the United States of
Andrew Jackson, and caused the
dissolution of the bank of the United States
; that this community fore—
sees the up—building in this country of
ours of a plutocracy having at
its command the vast financial resources of
the government, using those
resources to increase its power and to maint
ain its sway, a plutocracy
deaf to reason, blind to justice, scornf
ul of right; that this citizen—
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PCI.:STAL
r
,____
_
‘slffL:
_
iellilTrril
__
TELF.GRAPH-CABLF
NI L HT
LETTE
COMPANY
GRAM
THE POSTAL TELEGRAPH-CABLE COMPANY (INCORPORATED) TRANSMITS AND DELIVERS THIS NIGHT LETTERGRAM
SUBJECT T THE
TERMS AND CONDITIONS PRINTED ON THE BACK OF THIS BLANK.
CLARENCE H. MACKAY, P:E,1 •cnr.
'
INDEPENDENT
MEC;
COMPETITIVE
CIIILL.IVELFCV N
PROGRESSIVE
t1tbet",43 to Hon. Wm G. McAdoo, qhm Reserve Bank Ogn Corn, WashnDO
—ship now rises to crush in its infancy such an octopus and demands
without delay a congressional investigation of the methods used and
of the influences brought to bear upon the reserve bank organization
committee, and a relocation of the reserve districts and cities in
accordance with the just requirements ar the business of the country
and the provisions of the currency act;
that this community demands in
.•
no uncertain terms that the reserve bank organization comnittee be
taught
once and for all time that they serve and do not dominate, that
their law is the welfare of the state, not the welfare of their personal
friends and political allies; that they are an instrument, not an
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
lit
U
.
!
Lit
I
ISI
NI
HT
LETTE
GRAM
Tilt POSTAL TELEGRAPH-CABLE COMPANY (INCORPORATED) TRANSMITS AND DEUVERS THIS NIGHT LETTERGRAM
ISW6E
T THE
TERMS AND CONDMONS PRINTED ON THE BACK Or THIS BLANK.
CLARENCE H. MACK
FINES DENT.
FOEiVLQ AT
INDEPENDENT
COMPETITIVE
LIVEiH
N
LIE
PROGRESSIVE
4-333
Shee'06 4 to Hon. Wm. G. McAdoo, Ohm Reserve Bank Ogn Corn, WashnDO
autocrat; that they are not.greater than but subserv;nt to the people
who created them.
'Preamble and full text follows by tonights mail.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Martin Behrman, Chairman Of Meeting.
TELEGRAM.
•
lie
34 APR 6 1914
c.,
ClUiet
nshingion.
6 M. F10. 62 Blue 4 extra 4:15 p.m.
New
rleans, La., April &, 1914.
THE PRESIDEJT.
The New Orleans stock exchange desires to register an earnest and
vigorous protest against the unjust defiable and arbitrary exclusion of
New Orleans from the list of reserve bunk cities from the point of view
of population financial importance comercial importance and geographical
situation Hew Orleans should certainly have boon ulloted a bank. We
earnestly urge u reconsideration of the matter.
SEP 4 1914
LL-pro4
-S2d
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
H. Mysing,
President New Orleans Stock Exchange.
POSTAL.. TEL,FGRAPH-CA
NI
OMPAN
T 'LETTER'," RAIVI
Tilt POSTAL TELEGRAPH-CARLE COMPANY (INCORPORATED) TRANSMITS AND DELIVERS THIS NIGHT LETTERGRAM SUBJECT TO THE
CLARENCE H. MACKAY. Pflistarrtr.
TERMS AND CONDITIONS PRINTED ON THE BACK OF THIS BLANK.
RIEOEIVUCI AT'
"sinonf 336 NL
ris2
extra
•
Neworleans ,a April A -1A
I
2NN *3
)C° 1
k
kw/
Hon Woodrow Wilson
GM
president of The United
States of America
"APP 6 1914 Pb
Washn DC
At a meeting of the Citizens of NewOrleans held tonight
the following
resolutions were unanimously adopted by
a rising vote, and , I,
as Chairman of the meeting, was instructed to wire them to you:
Now, therefore, be it resolved, that the confidence of this community
in the f entire proposed banking system as a system founded on
an earnest effort to meet the needs of the whole people, without
regard to Geographical location of political affiliation, and
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THe POSTAL TELEGRAPH-CARLE COMPANY (INCORPORATED) TRAMSMITs AND DELIVERS THIS NIGHT LETTERGRAM SOSJECT 'ED THE
CLARENCE H. MACKAY, Ppic%IprriT.
TERMS AND CONDITIONS PRINTED OH THE' HACK OF TH:S NLANK.
OvzililiTcy
c
lumcaEut
-
"theet
2
administered by impartial heads without bias or partisanehip,
le rocked and rent to its very foundation
stone,
that this community
sees in a money power thus utilized in its inception to pay political
debts said rorge political fetters a menace to this
Republic far more
overwhelming than that which threatened the United
States of
Andrew Jackson, and caused the dissolution of the bank of the United
States; that this community foresees the upbuilding in this country
of ours of a plutocracy having at its command the vast financial
resources of the Government, using those resources to increase its
power and to maintain its sway, a plutocracy deaf to reason, blind
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
THE POSTAL TELEGRAPH-CABLE. COMPANY (INCORPORATED) TRANSMITS AND 0 ELivERs Tws NiGHT
LETTERGRAPI SUBJECT TO THE
TERMS AND CONDITIONS PRINTED ON THE BACK OF THI9 BLANK.
CLARENCE H. MACKAY, PRESIDENT.
Ammorammon..
ALM
9.EL-7E:we N u p.i ri ki FE
. .
4mBheet3
to justice, scornful of right; that
this citizenship now rises
to crush in its infancy such an octopus and demands without delay
a
Congressicnal investigation of the methods used and of the
influences brought to bear upon the
committee, and a relocation of the
Reserve Bank Organization
Reserve Districts and. Cities in
accordance with the just requirements of the business of the
country and the provisions of the
Currency Act; that this community
demands in no uncertain terms that the
Reserve Bank. Organization
committee be taught once and for all time that they serve and do
not dominate, that their law is the welfare of the State, not the
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
IMP
#fIS T A L
• ,•
TELFGRAPH
NI c
:At
T
CAB L E -
war
LETTE
IVI
THE POSTAL TELEGRAPH•CABLE COMPANY (INCORPORATED) TRANSMITS AND DELIVERS THIS NIGHT LETTeRDRAM
SUBJECT TO THE
TERMS AND CONDITIONS PRINTED ON THF HACK OF THIS BLANK.
CLARENCE H. MACKAY,
ui
MMIIMMIM11.10/
PREIDENT.
RECO eivc) AT
a
/
ommoni
-382
INDEPENDENT
COMPETITIVE
4.38.3
L sheet 4
PROGRESSIVE
welfare of their personal friends and political allies; that
they
are an instrument , not an autocrat; that they are not greate
r than
but subservient to the people who created them;
Preamble and full text follows by tonights mail.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Martin Behrman,
Chairman of Meeting
1155p
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
@FedFRASER