Show DEFINES BANKERS PART IN RECOVERY head of american bankers association assures president of confidence and desire to cooperate among bankers ASHINGTON nr D C president W v roosevelt in his address before the conference here on march 5 announced that he had received the following telegram from francis M law lav president of the american bankers ankers 33 association on this your first anniversary please allow mo me in behalf 0 of the count rys banks to express our full confidence and our sincere desire to cooperate in your courageous efforts to bring about recovery the banking structure of the country Is sound and liquid and banks have never been in stronger position to function effectively conditions have improved to the point where it Is no longer necessary for banks to be super mould liquid there Is a definite call now for banks not to extend loose credits or to make improper loans but tor for a most sympathetic attitude toward legitimate credit needs and for a recognition of responsibility tor for their proper and vital part in the program of 0 recovery the soundness of babai banking ng in an address before a recent trust conference of the associations trust division in new york mr law said A depression cannot long survive a sound banking structure it if the th banking structure Is responsive to legitimate needs and functions in a way that Is virile and alive the most moat cheering fact of the present situation la Is the knowledge that 0 our ur banks are in strong position recovery even to the most pes Is no longer a myth or ft a rumor nor la Is it merely psychological abundant evidence and proof lie its on every hand tangible ble proof with a return of confidence the wheels have hate begun to go round and a great many well managed businesses may look tor for a profit during this calendar year with fair assurance at least for what has been achieved let us than the president who has labored with courage and patience and vision let 10 us thank the congress chow whoso members during the emergency have put the public welfare above partisanship let us thank one liu hundred adred twenty five million ot of our own citizens who have refused to be stampeded but rather who have kept alive the divine spark of faith and hope cause for confidence we may reasonably expect that the recent action of the government in stabilizing the dollar will have a marked tendency to encourage industrial du and other business commitments business men need not be so exclusively engaged in taking counsel of their tears fears now that uncertainty does not haunt them t much has been said about the loosing of credit by banks during the acute period of the depression banks tor for the most part have not been lending normally nor should they be blamed with public confidence shattered the banker was waa properly concerned in liquidity having in mind his primary obligation to pay off deposits the situation has improved to the point where super liquidity 1 no longer seems necessary conditions have materially changed manks will desire tor for every reason to ao return to a more normal lending policy this means a sympathetic attitude and a recognition ot of responsibility lity tor for his proper part in the program ot of recovery by the banker as he passes upon and meets sound credit requirements ot of business as it swings into and continues on the upward turn |