Salt Lake Telegram | 1932-02-09 | Page 2 | Soundness of Banks Important Feature of Drive on Hoarding

Soundness of Banks Important Feature p Of Of Drive on Hoarding Col Knox Chairman of Conference Conference Con Con- ference Committee Is V V Certain of Success By Dr RAYMOND RArMOND CLAPPER CLAFFEE United Press Staff stare Writer WASHINGTON 9 UP Pro UP-Pro- Pro Provision vision ision for demonstrating the soundness sound ne ness of banks atel examination willbe will willbe willbe be one of the important features of or orthe the campaign to draw an estimated out of hiding Colonel Frank Knox Chicago publisher chairman of oC President Hoovers Hoover's committee com to restore confidence told th the United Press today todar The campaign also will include a ahouse ahouse house to house canvass throughout the nation to get at each individual hoarder An attempt will vIll be made t to persuade him that he is hurting himself him self his community and the nation Details of the plans still arc being formulated but they will take those two general directions Equally important with V pcr persuading u the hoarder to put his money back I Ito to work will be the job of at convincing I him that there ther arc are safe institutions I where he can put it How can this be d done nel Colonel Knox was asked COMMUNITY Jon JOB each community It is a job for to do he replied I think it will willbe willbe willbe be possible for or bank examiners to tobe tobe tobe be called in to certify the soundness of banks in various communities and andin andIn andin in that way demonstrate to the people peo peo- pIe of f the locality that there is no reason for uneasiness Campaign details are arc being withheld withheld with held until the they are arc foolproof Knox said He will leave for Cor Chicago tomorrow tomorrow to morrow to open headquarters of his national organization on there State chairmen will vIll be named A hard headed business man pub pubs usher of the Chicago Daily Dally News Knox talks emphatically and with conviction about the possibility of oC America effecting a 90 per cent recovery re rc covery independently of ot the rest of the world I I dont don't hope for tor forit it I am sure of it once nce people will wilt resume buying on a a d reasonable basis he says He bases this his on the fact that 92 12 2 per cent of ot American goods is consumed at home The other 7 2 1 per cent is ex cx ported The campaign to get down to the indivIdual h hoarder arder will be conducted with the thc cooperation of organizations represented ted at President Hoovers Hoover's conference last week which cover a membership of more than han persons