THE WORLD’S BANKER

Evening Star, Issue 19697, 26 October 1927, Page 5

THE WORLD’S BANKER

AMERICA’S POSITION INTEREST IN FOREIGN AFFAIRf NECESSARY POLICY OF ISOLATION BEING UNDERMINED. Tress Association—By Telegraph—Copyright. NEW YORK, October 25. (Received October 20, at 10 a.m.) .. y ' A ■*" A message from Houston'/' lexas, states that Mr Traylor, president, told the annual convention of American Bankers’ Association that foreign investments by Americans would eventually undermine the United States policy of isolation and force the Government into active interest in foreign affairs, Mr Traylor said: “Unless human nature changes or effects a rapid transition, ] have an idea that there arc hundred of thousands of American citizens whoso instincts of self-preserva-tion and whose sense of property rights may somewhat incline them to take heed of what is happening in the rest of the -world. The day may come when no mere small fraction of our people will bo interested in what is happening in other lands, and will become insistent upon the Government likewise taking cognisance of such facts. During the last three days nearly every member of the League of Nations has borrowed money from Hie United Stales, Germany alone taking over a million dollars. if we are, as I believe, the world’s bankers ami custodians of the world’s available credit to-day, wj must make foreign loans both for (he preservation of our own economic position and in justice and fairness to the rest of the world.” Mr Traylor, in discussing tlie history of banking, said: “There is apparently little major legislation necessary to period our banking equipment. Nothing would be more unfortunate, than to change the fundamental structure of the Federal Reserve Act.” Mr Traylor declared that the financial welfare of the United States would influence the future of the country, therefore only experts should tamper with the banking system.