The Savannah morning news., 1902-06-17
rHE nANKEns. coNvE,rlnN.

Notwithstanding the failure of Con-
! gressmen Fowler and Hill to be pres
/ ent and explain the Fowler banking
/ bill, there is no doubt that the conven-
ton of Southern bankers which con-
venes in this city to-day will be a sue
cess in every particular. There is
much interest in the Fowler bill. and
the bankers would like TO have heard
Mr.. Fowler's explanation of it, but his
absence will not lessen to any great ex-
tent interest in the convention. No
doubt the great majority of the dele
gates are familiar with the provisions
Of the bill. In this state particularly
there is considerable branch banking
under the state system.
1t is gratifying that the convention
meets at a time when there is great
prosperity in banking in the Southern
states. The New York Evening Post,
in a recent article, called attention to
the remarkable forward movement in
/ banking in the South. The control
lers report in regard to national bank
ing, issued a little over a week ago,
shows that in the Southern section
there are 742 Rational banking institu-
tons. This Is an increase of 104 in the
last year. There was still greater
increase in the previous year. the num-
Der being 107. In other words, the
Southern section now has 742 national
banking institutions as against 53l in
the spring of 1900.
And there has been a remarkable in
crease in the deposits In the South
ern section the deposit fund at the end
of april of 1900 was $1S7, Sac, 900. On
April 30, 1901, it had increased to 1929,
045,O00 and it is now S241, OO1, 900. OF
course these reports of deposits are for
national banks only.
And even a better showing is
made by going back to the
beginning of the financial i'm
provement-to 1897. In that year
the national bank deposits in the
Southern section amounted to only
$111, 1924 Since that time the in
crease has been 12O per cent. The Posts
comment is that this is ratio ex-
ceeded by no other banking section of
the Union and equalled only by the
trans Missouri section and the Pacific
coast" The same authority says:
"Georgia's gain in national bank depos-
it's between 1897 and to- day, has been
IS, 10000 or 1870 per cent; South Car
olinas 50, 100000. or 60 per cent. North
Carolinas, $780, 900, or per cent;
Alabama's, $S,7OO,0OO, or las per cent;
Mississippis, 1000 600, or 140 per cent
These are extraordinary showlngs."
The change in the national banking
law permitting the establishing of
banks of the $25, 900 class has undoubt-
eddy had a very Beneficial effect in the
South. There is less boarding of
money now than there used to be
that is, less money is hidden away in
stockings and chests and out of the
way places. The money is carried to
the banks and kept on deposit, and
there is therefore a great deal more
ready money for the transaction of
business and to meet the demands of
farming communities. The amount of
money that is called for from New
L VI anu OlneF financial CenLefS at
the beginning of the season for the
moving of crops is much less now
than it used to be. This is of course
not wholly due to the fact that
boarding has in great measure
ceased. 1t is partly due to the fact
that the South is becoming more
prosperous.
New York bankers have been made
aware of the changes which prosper
ity and the increase in the number
of small banks have brought about
in the South by the larger balances
kept in that city by Southern banks.
1t is stated that Southern banks
have to their credit in New York now
larger relative balances than have
been shown at any corresponding sea-
son during the last decade"
There is no doubt that the develop
ment of the resources of the South is
going on at a rapid rate. And still
these resources, with the exception
perhaps, of lumber and naval stores
have scarcely been touched. We are
certain that the bankers during their
convention will furnish evidence not
only that the South is prosperous, but
that the outlook for her future is
/ briobtar than avar hafora