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WELCOMING PRESENTATION Monroe K im b rel EMLA PROGRAM M a r c h 22, 1976 9:30 a.m. FOURTH FLOOR CONFERENCE ROOM G o o d morning, ladies and gentlemen. F o r myself and for m y associates, I a m pleased to w e l c o m e you this morning - to w e l c o m e you to the United States, to the city of Atlanta, and specifically to the Federal Reserve B a n k of Atlanta. Y o u are visiting us at a season w h e n nature puts on a magnificent show in our city. If you take the opportunity to visit parts of the city w h e r e the d o g wood and azaleas and other flowers are beginning to bloom, I k n o w you will understand the justifiable pride that Atlantans take in their gardens and their city. Atlanta is an historical city, being the site of a m a j o r battle in our Civil W ar. Charred and crippled by that battle, Atlanta began to rebuild, and the building "fever” infected succeeding generations. A s you will see, it is a "new" city. N e w housing, n e w office build ings, n e w parks, and n e w hotels of such spectacular design they have b e c o m e tourist attractions. T h e skyline of Atlanta, which s e e m s to be constantly changing, is a graphic indication of the revitalization of the city. I think you will find Atlantans friendly and hospitable. They are accustomed to having visitors in their midst since Atlanta is a regional m a n a g e m e n t and distribution center and ranks third in the nation in convention attendance. M a n y of the people you will see on -2- the streets do not live here at all. Like you, they are visitors here on business, on vacation, or attending conventions. In 1914, w h e n the Federal Reserve S y s t e m w a s established, agriculture w a s the p r i mary economic force in the southeastern United States, and it still plays an important although lesser part. In 1976, however, economic life of the Southeast is vastly diversified. In Atlanta alone there are plants for assembling automobiles and military cargo planes. A s a transportation hub, Atlanta is considered one of the m o s t accessible cities in the United States, which naturally m a k e s it a distribution center. T h e airport you passed through this w e e k e n d is the second busiest in the nation. Indeed, at certain hours it is the busiest airport in the nation. A s students of banking, you will immediately be aware that all of this business activity m e a n s financial activity. Atlanta i _ an s important financial center, and that of course is the principal reason that w e are experiencing the pleasure of having you visit us. Atlanta is evolving into an international city with growing financial economic and cultural interests abroad. T he O m n i Hotel w h e r e you are staying is a unit of a megastructure that w a s built with the international concept as a part of its appeal. Next to the hotel is rising a W o r l d Congress Center for international conferences and exhibits. -3- T h e Federal Reserve B a n k of Atlanta is staying abreast of this growing international interest. W e have established a Caribbean Unit in our Re s e a r c h Department that is specializing in economic report ing on countries in the Caribbean Basin. Y o u will be given m o r e details about this venture later in the week. I k n o w you have been in class for several weeks. T h e two w e e k s that you will spend in Atlanta should be beneficial to you and should support or reinforce the concepts you have studied about central banking. In your leisure time, look around and enjoy what Atlanta has to offer. Please let us k n o w if w e can help you in any w a y during your stay with us. W e are delighted to have you here. will be both pleasant and satisfying. W e hope your visit
