OCR Text |
Show Examinations of Privitt Bink. It is difficult to see what reasons moved the House Committee on Banks and Banking to bring in a report adverse to the Anderson bill providing for the examination of private banks. There ha recently been a striking example of what may hap-jen hap-jen in the absence of such legislation. The only wise course is to provide against such disasters in the future. No national bank has ever suffered because of the publicity attendant upon examination. Xo private pri-vate bank conducted along honest business lines will sufter. In most States private banks are uu-der uu-der il'.e supervision of examiners. Of eurse, national banks and private banks are sometimes wrecked despite the work of the examiners. exam-iners. It is impossible to prevent it. Often it comes to light that the examiners have been careless and delinquent in their duty, but that is the fault of the administration of the law, not of the law itself. The measure cannot be condemned because of the fail ure of men in oftlce to do their duty. It must be : kept in mind tbat we hear nothing of the failures that are prevented by the work of the examiners. Those things cannot for obvious reasons be made public. ) The Ilonse acted wisely In accepting- the minority minor-ity report and passing the Anderson bill. We hope to see the Senate take like action.- The examination of private banks can harm no legitimate concern and it can do a whole lot of good. A law providing for it should be enacted. |