Tighter Credit Rein Needed, Bankers Told
It doesnÛªt do much good to tax | a dollar out of a manÛªs pocket if i he replaces it at once with a borrowed dollar, a Federal Reserve</br></br>It doesnÛªt do much good to tax | a dollar out of a manÛªs pocket if i he replaces it at once with a borrowed dollar, a Federal Reserve *;a step in the right, direction.Û But. he added, bankers must go even further than that. They must not rely too heavily on Gov. ernment regulations to do the fob, he said.</br></br>ÛÏIt seems to me,Û Evans de-dlared, ÛÏthat you bankers should take the long view when you weigh the advantages and disadvantages of alternative programs for regulation of bank credit. Further authority there must be . . . but you should bear in mind if this selective credit regulation is carried far enough . . . too much of the management of banking will be transferred from your shops to Washington.Û 3.	A regulation of credit and money creation that is really effective. ÛÏfor if you are going to, curb spending power, it doesnÛªt do much good to take a dollar out of a man's pocket if he replaces it at once with a borrowed dollar.Û</br></br>Evans spoke yesterday in Chicago at the National Installment! Credit Conference sponsored by! the Consumer Credit Committee j of the American Bankers Asso-; ciation.</br></br>RECORD IMPORTS: Imports in^o the United States topped the billion-dollar mark in January for the first time in history, tne census bureau reported. Also, Imports exceeded exports for the third time since June, 3H37. Increased purchases of rubber, jute, wool, coffee and supar helped send the import total to $1,022,300,000 in January. Over-all imports rose Ûª $158,200,000 oVer December, although there were decreased imports of copper and lead to partly offset.