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Show ft FlBS ENOUGH II FINK CROPS , nent Iued by Comp 'jer of Currency Re J! rfert to Demands , lNfkERS ARE STRONG uncement Contams jurtion That Conditions re Encouraging SfVoSdW UK 19 lonitr 1 IfeCTey WllHauu announce tie p" unerai 1 l loan "J lV ,f national banks u I re ' " ffu o finance I "V, ,h th eoUr cotton crop j bom, aa i to oon3rvti ejy jus ,,ijlen of credit ot two or iMtMt id T ,h PtroJ hrrsd to tie prospect for unusual for fuses, paiticularl in the , skalil be declare 1 u ' j t European bell jferents, Mhrsd a safe of the on 1 t on kuuwal aad reserve banks waa II itrf eaeouragiiiK before, TSkBj said, kai the hank bee twiti so thorough! prepared Kg av problem that might be to tiW- mrfmenU Summarized tat before the statement was is T-M Bntisk eeabass had au r tke aaaoaacesieat that the al hi Mrecd won the principle that eoalrabaad. Special re aO hieh tte basks ma hare t B the aear future were sum S bT Mr Williams a follows lb the Tarfcr reeurnng ae iai far fsais with h ch to kit Ua wops, hch th ar nl as to eottoa. are unusually T-Zvti tommaadinc full pri cs. ' fvaii the lausual demand for Lfc which miT arise to enable hi rowers to meet anr con km u the movement or market 1 to? the crap. the event tha fat saoald be declared contra isl Qui tie demaids whi h are Mr to be made upon the national aJa both directlr and Ind recti v 1 itsuectioa with the extension of St to fore ga purchasers of svp-tittt svp-tittt aH kiads, and to pa for Siamoa seeanties wh ch mar fnUriea to a by fore kb ered kJts kit Strong I tahiamg. the tatement said 'Iks aetaal fifarea show that the aLscil banks of this country are seter before been so tact sad so thoroughly pre-Ltts pre-Ltts to grapple with and bait sneeessfaUT any problem lister large, waieh sis' be , ksrated to tkera aa they a. e ' tin These figares show that irutyml banks of thus count rr ai tie twelve fetieral reserve tell erthtsrre of the state banks oi trust companies; hate at thia ft memployed I canine capac tv 1 tfacit to enable them t need a, to carrr for om own people at rrtk valae the entire cotton ' tlad half if not the whole of vipat crop aad tobaceo crop , aktk it is not, of coarse con h Uble tilt they wilf be asked to 1 k sad also finance, until the pa um can pay nk in gold or its onaleit, a thousand mill on dol ci sr so of exports of foodstuffs-h foodstuffs-h r raacfactared products to be aoped to the rest of the worl 1 i, It h far better for the banks ) rapkrr their surplus fund n ahz2 leans on staple eommodit es rin th?v an relieve eonjteebon r'xomotc lept mate eommereial tranaa Hons rather than permit these f uds to b sed for the n flati of the sto k ariets wheM spe lation n s cur t ea has al real reached a 10 nt which nvitea auuon Reen es in Ece&s. The abstract of on i t on of na t onal banks aa of June "3 1915 just completed ahowa that notw th standing the great redu tlon n re er e rq irement wh ch "ent into effect with the inauiru ation of the federal r ser e s sten n No e n ber last the a tual reser ea of the national banks on June 3 ltn are far n ex eas of the larg est reer es eer held at anv one time in the past historv of the ouutrr and amounted to II 340 0 or $778 lX0 000 than the amount wh ch tha national banks are requ ed to hold Th s surplus reaene it s eetl mated suff cent to justlfi on a conserative basis, an expansion of credit of a further loaning; power of ear to or three billion dollars The present total loan of aft fhe national banks amounts to about s x and two-thirds billion do tars ear ago or on June SO IS 14 the surplus rese it of the na tional banks was only forty one mill on dollars, so that the increase oer the surplue reserve shown a i ear ago all' 000 0O0 The otal reser e of the national banks exceeds hv (S19 000 000 the Ifreatest rese e e er held b the nat onal banks at anv time pr or to the passage of the federal reserve a t The specie held b the nat onal banks and the federal reser e banks amounts to close to II 000 o 10 00 The specie in the national baak nereart between Ma 1 and June "3 191o I 1 000,000 Supply Sufficient The reports 01 the federal reser re-ser e banks at th s t me show that the total amount of b lis discount e i and acceptances held by theae bank amojnt to a proximately 14 0 X while the supplv of gold ah h the federal reserve banks now hate on hand s suffi c ect to g e theae banks a farther loan apac t f the occasion called for t of more than 1630 XH 000 add t onal prov de I they should ut lize the note issuing powers to the maximum gains their maximum d rect borrow ngs is the past of 116 81 00 the reports of the nat on al banks as of June n 191 show that the ha 1 on hand on that date paper el gihle for red scount w th the federal reer e banl amount ng to 1 619 00 h h s mo e than ten t me the max mum amount wh h the nat na banks of the ount acco d nt to thP r sworn "tateroente to the co nptrol ler of the c r en ha e e er here tofore had occas on to bo row on the r b lis payable or by red s counts. , The aounlness of o r new bank log and curren system and rash ra-sh 1 t to meet successf 11 e en the most t v ng emerger c ha e been demonst atpl We io hd r conf lenee that t w II be eo al sble to cope w th an i contr 1 n flat on grow ng ont of pro er t I It behoo ea the nat onal bank an I the departmfnt of the go e nment charged w h hei super n o exere se under present stances the utmost ng In e and a wholesorre restra nt le t o e ronf den e an 1 nw se ex a on or speculat on rra he k the roe pentv wh h now seems so 1 kel to nerease and end re |
