St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-22
a detail are as follows:
Totals. SIS III, $50 96 S.. .7o3, ,257 90

Totals. SIS, III, 230 26 S., 791,2j7 90
This result has undoubtedly been
achieved by all exceedingly conserva-
tive policy upon the part of the banks.
1t is occasion for pride and satisfaction
that the result has been accomplished
in the face of the reduction in the de-
posits since May 4, when the previous
statements were made, when the depos-
its of the same banks were Sl9,5S9,2 ,212,
or million and a half in round num-
bers more than at present. Some part
of this decline in the deposits is due
undoubtedly to Withdrawals growing
out of lack of confidence, but more to
the demands made upon business men
to meet Eastern paper. On May 4,when
the last preceding statement was
made, the fourteen banks inclu ded
above had s5.790,574 in their reserve;
on July IL they had $500 267. In other
words, the contraction has amounted
practically to the million and half dol
lars shown IN the decline of deposits.
Under these circumstances it is impos-
sible to charge the bankers with ultra
conservatism in declining to make
loans with greater freedom so long as
there was a steady decline in deposits.
When evidence is given of the return of
confidence by growth in the deposits, it
can safely be promised that the bankers
will unloose their Golfers. They are
certainly in position to grease the
wheels of commerce. Nothing should
go further to restore confidence than
@I,n 4lo lNo Nlv, |,
made and which are epitomiZed above.
The mathematician who will take the
pains to study in detail the table above
printed will discover that while the av-
erage reserve is little less than 81 per
cent, that several of the banks show
reserves much above that figure. Some
OF them boast reserves of 80 and 40 per
cent. But while there is occasion for
great deal of pride in the excellent
showing the banks are able to make, the
question can be, and is very properly
asked. whether the time has not come
when the banks can lend something to
the growth of confidence by more lib
eral policy than they have deemed it
wise to pursue toward their customers.
reduction of the reserve to the legal
....... of 25 per cent would release little
more than million and quarter of
money. Some of the hidden money
would undoubtedly be brought out of its
hiding place. Growth of deposits would
result, and trade would again be
back on the basis which ex-
listed before the trouble commenced,
This condition may not begin to make
itself evident until the crop begins to
move. or until the action of congress
upon the Sherman silver purchase act is
positively determined, but neither of
these events are now very far removed.
1t was no part of the purpose of this
article to discuss these financial prob
lens and questions, but to point ont the
Impregnable position in which the st.
Paul banks are found 20 be, and to show
how well the business community of
| this city has weathered the storm which
has been uudeniably disastrous in other
cities no less important commercially
and financially. The benefits which
will accrue to the city will not all be
gathered in a day. week, or in a
month. One of the biggest moves for
ward St. Paul has taken has been ac-
! eomplished with clouds, storm, thunder
and lightning all about her. Tie
achievement will accrue to her benefit
for all time.