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WELCOMING PRESENTATION M o n r o e Kimbrel CEMLA PROGRAM April 11, 1977 FOURTH FLOOR CONFERENCE ROOM G o o d morning, ladies and gentlemen. I a m very pleased and happy to w e l c o m e all of you here 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 Bank of Atlanta. Y o u are visiting our city at the m o s t beautiful time of year. I hope you will have the opportunity to see s o m e of the parts of the city where the trees and flowers are beginning to bloom. The people of Atlanta are justifiably proud of their gardens and of their city. Atlanta is a very historical city, being the site of one of the m a j o r battles in our Civil War. see that it is a very n e w city. In spite of that, you will N e w housing, n e w office buildings, n e w hotels s e e m to sprout up every day. Y o u can look at our skyline and understand w h y s o m e people call Atlanta the N e w Y o r k -2- of the South. Strangely enough, m o s t of the people w h o live here wer e not born in Atlanta. Atlantan. In fact, it is a rare thing to m e e t a native People have m o v e d here f r o m the small towns of the South and f r o m other cities. In fact, m a n y of the people you will see on the streets do not live here at all. They are visitors such as yourselves, here on business, on vacation, or attending conventions. I hope you will find that the residents of Atlanta are friendly and hospitable because Atlantans are accustomed to having visitors in their midst. Bac k w h e n the Federal Reserve Syst e m w a s established, the Southeast w as not as industrialized as it is today. w a s the primary economic force. is very diversified. Agriculture Today, in 1977, the Southeast In Atlanta alone w e assemble automobiles and military cargo planes. W e are a transportation hub also. The airport you passed through this week-end is the second / busiest in the nation, second only to Chicago. Naturally, Atlanta -3- has b e c o m e a financial center as well. A n d that is a source of c o m m o n interest to all of us in this room. That is w h y you are here and w h y w e were m o s t anxious to be your hosts. Atlanta is rapidly becoming an international city with growing financial, economic, and cultural interests abroad. The World Congress Center d o w n the street f r o m us will host international conferences and exhibits. Atlanta's diplomatic corps is increasing, with a rising representation f r o m Latin A m e r i c a n countries. W e at the Federal Reserve Bank of Atlanta are an integral part of that growing international interest, in our Research D e partment, w e have established a Caribbean Unit, which is specializing in economic reporting on countries in the Caribbean Basin. W e will share with you m o r e details about this venture later in the program. I k n o w you have been in class for several weeks. I hope that the two weeks you will spend in Atlanta will be beneficial to you and will support and reinforce s o m e of the concepts you -4- have studied about central banking. W e have tried to do everything w e can to enrich your educational endeavor. W e m a y have overlooked something; however, I hope you will let us k n o w if w e can help you in any w a y during your stay with us.
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