Tuesday, June 6, 1933

“Old Bill” Suggests—

A conservative is a fellow who has learned the present rules and is afraid to have them changed for fear that he might not be able to keep on winning. A radical is a fellow who doesn’t know any system yet and would like to make all the contemplated changes before he settles down to study.

Most bankers are natural conservatives, for in handling money, as in handling dynamite, there is not much chance for a second mistake. Because of that conservatism they are not always adept at reconstructing their ideas to meet a new set of conditions. But they do know basic principles.

Loss of confidence in the business judgment of bankers, however merited, has not been wholesome for either the banker or the public.


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