The Washington times., 1911-02-19
DEPOSIT GUARANTEE"
LOSING IN OKLAHOMA
National Banks Making Great Gains-Our Commerce
With Canada-Interesting Statistics, Showing Large
- Trade Balance in Our Favor
By I. A. FLEMING.

Much interest has been shown In the
workings of the guarantee of deposits"
system of banking, as now in force In
the State banking institutions of Okla
homa,. and as recently advocated by a
candidate for the position of President
of the United States.
That such a guarantee has ceased to
be a magnet to draw deposits from the
safer and more conservative national
banking institutions is evident from the
fact that the latter are making splendid
progress in attracting deposits, while
the State banks are losing just as stead
lily, although not in the same degree as
the national banks of the State are
gaining.
The last call of the Comptroller of
the Currency and the call from the
State official on equal dates showed
that the national banks had increased
their deposits by $1,SS3,642, while the
State banks had lost $57,775, the change
coming in sixty days time, showing
that the national banks had been the
favored of depositors.
The aggregate deposits of both State
and national banks in Oklahoma, Janu-
ary Z, were S1O2, 4OS, ,Ol9.
When the law was first put into op-
Grafton the State banks drew heavily
from their competitors, but with a bet
ter understanding OF the principles of
banking the latter made good progress,
and today it is not noticeable that there
is any preference in favor of the State
banks Many of the latter have sur
rendered their charters, and have taken
out charters under the national banking
act, for the express purpose of escaping
the assessment Since the law became
operative the State banks have been
forced to contribute $4,000 to the guar
antee fund, no small tax and strain on
resources, and of sufficient import to
make a change desirable, especially
when the prejudices that existed in IA
vor of the guaranteed institution had
been dissipated.
ApropOs of the interest centering in
the pending reciprocity treaty with
Canada, the most important commercial
project that has been undertaken in
years. it is interesting to note that the
trade OF the United States and the Do
minion has been steadily increasing dur
ihE NAiE ldol ildlL-CSIluTyy dIlO Ine IN
crease in both exports and imports for
the last decade have been phenomenal,
with a growing trade balance in our
favor
In 1850 we imported from Canada
goods OF a value of $5,179,5 500; in 1860 the
figures had reached S23,572, ,79S; twenty
years later they were 81, ,9Ss,564; the
next decade showed s7,0OO, 900 increase,
with little change between the value of
imports Of 1880 and 1900. But in 1901
the value of imports jumped from s39,-
$685. GA of 1900 to $95. rs, $40.
Exports to Canada have always been
much larger than the imports 10 the
United States. The total value. Of the
exports, domestic and foreign, exported
to Canada from the United States in
1850 was s9,515.0O0. and the figures
jumped from 81, So, ,sGS the next decade
to s95,sl9,s7O in the year 1900.
During last year the value of the ex-
ports tOtaled S2l5, $40, ,02l, of which S2d2-
54s,0 ,02S were of domestic production.
The trade balance in. favor Of the
United States for the last year was over
s12o, 10000.
OF the S2n3, ,Oo0, go worth Of merchandise
sent over to Canada during the year
1910, 81, ,OOOOSo represented tie value Of
the foodstufts; $50 OOO. 900 crude materials
for use in manufacturing: $31, ,000, 900,
for further use in manu-
and So, 600, 900 OF finished man
ufactured articles.
Our heaviest importations from Can
ada today are boards. deals and planks,
s19.e43 SS7; pulpwood. $500. 900: hides and
skins. s5,255. 900; wood pulp. s4,224. .3O4: bi-
coal. $4,000; nickel ore and |
matte. S3,575, 900; copper pigs and ingots,
$3 SO, ,O0N: timber and shingles, IS. 500. .OG5:
seeds, s., 234, ,GAO; chemicals, and drugs,
s2. SIS, 900; breadstufrs. other than wheat,
rye, and barley. S,615 945.- and sl,196,O00
in Holsters.
OF our exports bituminous and anthra-
cite coal had a value of 81, ,6A, ,260; cot
ton. s., ,936, 900: steel sheets and plates,
81 STE, 900; automobiles, 81, 1856, ,964; corn.
a 900: horses, $4,000: books and
maps. $3,3332, 900: structural iron and
steel, s., $500 furs and skins, $2,1S0OO0:
electrical appliances and bars or rods of