Pine Bluff daily graphic., 1911-03-16

actual increase of banking capital of $522,5S2.0 % to which must be added the power or value of the $2,100,O00 % increase in deposits. All of which consider very creditable showing A showing that I am sure will stand the state. It is to be regretted that all banks did not send in their fig ures so that we could show what was the actual total banking capital of our group.
 q suggest that an effort Joe made to gather these statistics annually and that our secretary be requested to get up such blanks as may be required for that purpose to be sent out at the end of each year 1 cannot think of anything that would more accurately indicate the progress made by this part of Arkansas than these bank fig ures. Banks cannot exist without prosperity. Banks will not increase capital and surplus unless the busi- ness of the community demands it. Increase of deposits shows increase of population and wealth of the con- munity. The possibility of devel- opment and wealth in our territory is beyond estimation for every acre in cultivation there are at least eight just as' fertile and valuable awaiting only the removal of timber and water to be put to the blow.
 'In the progress of development made by our group I am exceedingly gratified that the capital city of our group has kept we'll to the front I am sure all of us feel proud of her skyscrapers and million dollar banks May they all soon reach that mark. Her banks deserve the support of the country bankers. I hope the time will come when they can finance the needs of all the country bankers in group 7. I believe in inN rests and discount being kept at home or as near home as possible.
 ''It is needless to remind you that the Arkansas Legislature is in ses- sion. I think, that you have heard of it by this time. Many bills of vital interest to the bankers either directly are indirectly are being introduced and considered Need I remind you that laws unjust to our depositors and the people generally do us harm So, think, it is the duty of every bankers to watch closely what is go- ing on in our lawmaking body and promptly sound the alarm of any, thing attempted to be passed harmful to our respective communities.
 Of course you all known that bank ing bills are pending and l suppose this group will take some action be- fore adjournment indicating what it deems best for our part of the state in the way of banking laws. l be- lieye the time has come when Ark ansas should have something more de- 
 finite in the way of banking laws, but | it should be something that meets the needs of Arkansas. It does not follow that law that has met the needs of N. Y. Kansas or Texas would fit conditions in our state.
 1T cannot omit calling your atten- tion to the general revnue bill now pending, proposing that all property shall be valued and taxed at it's full , value and that then the rate of taxa tion be reduced one-half. The first may be accomplished but the latter Is handed out like a dose of soothing syrup which tastes good at the be- ginning but causes wry faces after wards.
 "There is continued addition of new l offices and salaries and increase oi salaries of existing offices. This is only a part of the continual increase ' of expenditures of the state govern ment. The charge is made that though the actual wealth of the state is continually increasing, while values for taxation purposes remain station ary. I can only speak for my coun- ty and there taxation values have more than doubled in the past ten years. Can any of you figure ou' that with only double valuations the tax rate can De reduced one-hal1 when the state is running behind now and has been for several years. Ii I can understand the bank taXatlof proposed in that bill it not only VII double valuation for the banks but also double the taxation. Possibl! some of you can figure it out more favorably than I have been able t( . do. !. "At one time I contemplated ga'h
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