Show I NATIONAL BANKS DESIRE liBERTY REPORT OF COMPTROLLER CIS- CIS CLOSES INCREASING EXODUS FROM U. U S. S SYSTEM Total of Ninety Eight Failures Are Chiefly Accounted For In Wheat and Livestock Centers Of The Country Washington on D. D C. C C. National National banks banko throughout the tho country are feeling more and more the tho restriction laid around them by federal statutes and greater freedom for them was described ed as Imperative in the annual report of J. J W W. McIntosh comptroller atthe of at the currency just made public The Tho comptroller cited detailed statistics to show an increasing exodus from the national banking system and he predicted it would continued until the national banking laws are amended To accomplish the needed relief Mr McIntosh strongly stron ly urged enactment enactment enact enact- ment of ot the McFadden bill a measure which was passed by the house last congress but which never was reached reach reach- ed by the senate It is a well vell known fact the report report re re- re port added that many national banks are arc anxiously awaiting enactment enactment enact enact- ment of such a bill as that which failed failed fail fail- ed at the last session of ot congress If they cannot at this time obtain some amendments to their charter powers as are therein proposed there will be bea a still greater exodus from the tho national national national na na- na- na system McIntosh said that although the resources resources resources re re- re- re sources of the national banks had steadily increased from year to year and the condition of the individual banks remain strong the relative increase Increase increase In in- crease nevertheless In the total resources resources re resources re- re sources of ot the national institutions has been slowly falling off as compared ed with the resources of ot state banks and trust companies He mentioned period ending ending end end- that during the year forty ing July 1 1 1924 the total resources of national banks had fallen from 75 per cent of ot the total banking resources resources resources ces of ot the country to about 47 per cent The last eighteen months he said had witnessed a further shrinkage shrink shrink- age ago in the proportion of the total resources resources resources re re- re- re sources held b by the national banks These facts present a serious situation situation sit sit- for the consideration of the congress the comptroller said and andI I am directing attention therefore at this time chiefly chien for the purpose of showing that the bank operations are becoming daily dally accentuated The national national national na na- na- na banKing system is a time hon ored federal instrumentality The charter powers of the individual national national national na na- na- na banks are arc derived solely from the congress Twice In the history of the United States namely immediately immediately lately preceding the World war the lately preceding the World war the federal government was able to enforce enforce en en- force a banking policy at a time of great financial stress through Its authority authority au au- au to use the national banking for the public pub system as an Instrument lie lic benefit The individual national bank is al always always al- al ways ultimately able to take care of or itself in meeting the competitive condition condition condition con 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 at national banks and the consequent decrease in relative relative relative rela rela- tive resources of the national banking banking bank bank- ing system Is of at primary concern concern to I the national government not only because because be be- cause of the national banks from the logical and permanent basis' basis of ot the federal reserve system but also because because because be be- cause only through the national bankIng banking banking bank- bank Ing system can there be maintained throughout the United States a standardized standardized stand stand- system of ot banking subject to the ho powers of the federal government and subservient at allf all f times Limes to the will of or |