The Fulton County news. [volume] (McConnellsburg, Pa.) 1899-current, 1912-02-26
FOUND NOTHING
BUT PROSPERITY
Secretaries MCAdoo and HOu
ton Return From Tour.
The CURRENCY BILL PASSep
Cabinet officers Issue Statement A
Federal Reserve Bank Organic,
ton Committee Telling OF
Their Trip Around Country.

Washington.-The federal reser
bank organization committee, back
Washington after a FIVE weeks hi
through the country, in a statemer
announced that Its selection of fedeu
reserve cities and definition of reser
districts would not be madauntil can
full consideration had been given Il,
information accumulated on the til
The statement said the committee
Secretaries McAdoo and Houstot
found the country prosperous al
learned that bankers and business me-
are greatly interested in the new banE
ing system and confident of its sue
cess.
In a supplemental statement Mr.. No
Adoo declared that he hoped the nev
system would be established in tins
to take care of crop moving cor
tingencies next year, but that If
were not, the Treasury DepartmeE
would stand ready to place its funt
again at the disposal Of business mel
The committees statement:
I'VE have spent practically from thl'
4th of January to the present time ID
hearing the views of business men and
bankers on the problem of dividing th.
country into not less than eight, MOI.
more than IL, districts and Of loca,.
ing in each district the main oticiI
Of O federal reserve bank. OF thsI
two questions, the division Of th,|
country into districts is the more I'M
portant and difficult. The COMMITTEE
asked those who appeared before 1t %
direct their attention to these two
problems and to furnish all possibl,
information.
Go To Great Trouble.
"A great many able and Impartial
business men and bankers have sub.
mitted their best information and
opinions and always in a spirit Of great
fairness. In preparing their informs.
ton many Of them had gone to the
extent of presenting maps showing
not only the districts they were inter
ested in, but also the districts for all
the nation. The committee has held
hearings in Is cities and has heard
from every community Of consequence
In the sections of the country that Il
has visited. It has secured a vast
deal of information on the movements
OF trade, as well as on the currents Of
banking.
an every section of the country the
committee has found a practically IN
animous conviction among bankers
and business men that the currency
bill will bring about most beneficial
changes in the business of the cOun'
try; in fact, the committee heard no
one speak who did not say that the
was a great step in advance.
The committee was presented every
where with overwhelming evidence o!
the enormous economic strength Of
the country, and of the rapid progress
of every section. The fact that the
nations banking resources, as a whole.
make enormous advances every
twelve or fifteen years, approximately
doubling in each such period, was
made evident; while this is true Of
the country, as a whole, 1t was shown
that certain sections are advancing
with more rapid strides than Others,
and that the country is Fundamentally
exceptionally sound and strong
economically. The facts and figures
to the committee in every
part of the country show amazing
growth and strength and disclose a
condition of financial, industrial, com
mercial and agricultural soundness
and prosperity that leaves no doubt
as to the future"