Excerpt from Our Better Banking System But the conservatives see danger ahead and pull up. The line pivots. The little fellows on the tip are pulled along faster and faster and at last, just when to them things seem to be going at a fine speed, suapi goes the whip and they are flung off into the head over-heels of financial ruin. One of the leading objects of the new banking and currency system, which went into effect in 1914, was to put an end to snapping the whip as a business pastime. The previous system had made it inevitable. Game and system, they had together cost the country a minimum of five panics and two currency agitations, all in less than fifty years. In every crisis, it was always the banks, first of all our institutions, that started wabbling. Today, just as conspicuously, it has been the banking system that has stood firm and helpful in the midst of a good deal of uncertainty and disorganization. For what is admittedly an experiment in national banking, that is doing pretty well. Still, it is an experiment, and we must look it over. How does it compare with the old system? In what respects is it an improvement? Will it always suffice to keep business in the middle of the road and prevent overtrading? Will it head off panics? IS our currency elastic now? Will our money rates remain low and legitimate borrowing be easier? About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.