Show NATIONAL LU LURE BANKS S DESIRE RE LIBERTY REPORT OF COMPTROLLER DI DIS DISCLOSES CLOSES INCREASING EXODUS FROM U U. U S 8 S. SYSTEM Total of Ninety-Eight Ninety Failures Are Chiefly Accounted For Fo In Wheat and nd nd Livestock Center Centers Of The Country Washington D D. C. National C. C National banks bank throughout the country are feeling more and an moro the tho restriction laid r round around them by federal statutes and greater freedom for them was described OIl ed as Imperative In the annual report of J J. J W. W Mcintosh comptroller of the currency just made public The comptroller cited detailed statistics statistic to show an increasing exodus fro from In Inthe the national banking system and he lie predicted It would continued until the tho national banking bunking laws are amended To accomplish the needed relief Mr Mcintosh strongly urged enactment enact enactment ment of the McFadden bill a measure which was passed by the tine house last congress but which never was reached reached reach reach- ed by the tho senate It Is a well known fact the time report report re reo re- re port added that many national banks are anxiously awaiting Enactment enactment enact enact- ment fluent of such a bill as that which failed fail fa ed od at the time last session of congress It Ir they cannot annot at nt this time obtain some amendments to their charter powers I as are therein proposed there will be he bea hea a still greater exodus from the national national na na- system McIntosh said that although tho resources resources re re- sources of time the national banks had land steadily stead Increased from year to year and the condition of the Individual banks remain strong the tho relative Increase increase increase in In- crease nevertheless in the time total reu re- re u B. B 1100 Ul UI HI 1110 has been boon slowly falling failing off oft as ns compared ed cd with the resources of ot state stale banks bunks and trust companies lIe He mentioned that during the year forty-year period endIng end end- Ing lag July 1 I 1924 the total resources I of national banks had fallen from 75 per cent of ot the total banking resources ces cos of the country to about 47 percent per cent The Time last el eighteen months he said had bad witnessed a further shrinkage shrinkage shrink shrink- shrinkage age in the proportion of the total resources resources re reo re- re sources sources held by the national banks These facts present a serious situation situation sit sit- for the tho consideration of the congress the comptroller said laid and andI I am directing attention therefore at this time chiefly for the purpose of showing that the bank operations are becoming dally accentuated The national na na- banking system is a time hon ored federal instrumentality The Tho charter powers of ot the individual national national national na na- na- na banks are derived solely from the congress Twice in the history of the United States Slates namely immediately lately preceding the World war the lately preceding the World WorM war war the federal government was able to enforce enforce en en- force Corce a banking policy at a time of great financial stress through its authority authority authority au au- to use the national banking system as ns an instrument for the pub pub- public public lic lie benefit The Time Individual national bank is always at al ways ultimately a able le to take care of itself in meeting the competitive condition con due to more favorable state laws by giving up its national character charac charac- ter and going into the state system But the gradual loss of national banks and the tho consequent decrease in relative rela live tive resources of the national bankIng bank bank- log lIng system la It of ot primary concern to toI L not ants h mv v wv- wv cause of the time national banks from the logical and permanent basis of the federal reserve system but also because because be be- cause only through the national bankIng banking bank bank- Ing system can there bo be maintained throughout the United States a standardized standardized stand stand- system of ot banking subject to the tho powers of the federal government and subservient at all times to the will of |