Show DEFINES BANKERS 9 PAST PART IN RECOVERY head 0 of american bankers association assures the president of confidence and desire to cooperate among bankers ASHINGTON D C president roosevelt in his add address ress before the conference here on march 5 announced that he be had received the following telegram from francis M law president of the american bankers association on this your first anniversary please allow me in ill behalf 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 haye have improved to the point where it is no longer necessary tor for banks to be super liquid there is a definite call nowton banks not to extend loose credits or to make improper loans but for a most sympathetic attitude toward legitimate credit needs and tor for a recognition of responsibility for their proper and vital part in the program ot of recovery the soundness Sound neu of banking in an address before a recent trust conference of the associations trust division in new york mr air law said A depression cannot long iong survive a sound banking structure it the banking structure is responsive to legitimate needs and functions in a way that Is virile and alive the most cheering tact fact of the present situation is the knowledge that banks are in strong position recovery even to the most pessimistic is no longer a myth or a rumor nor is it merely psychological abundant evidence and proof lie on every hand band tangible proof with a return ot of confidence the wheels have 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 thank the president who has labored with courage and patience and vision let us thank the congress whose members during the emergency have put the public welfare above partisanship let us thank one hundred twenty five million of our own citizens who have refused to be stampeded but rather who have kept alive the divine nark of faith and hope |