The Birmingham age-herald., 1913-11-30
Corn and Other Crops

THE value of the Alabama corn crop
is estimated by the department at S55-
obo,oO0, the potato crop at $1,235,0O
The sweet potato crop at s4,54S, ,000. The
value of the cotton crop of Alabama, ill
cludlng seed, will approximate $115,
10000 The total value of all crops IN
Alabama, including hay and minor crops
Tor the current season will approxi-
mate S190,000000
1.-THE mild weather which has facilI-
tated the gathering of the crops has
not, however, been stimulating to the
coal trade which is not as active as it
should be at this season. No improve
ment Is noted in the demand for lum-
Der and the market for iron and steel
products is weak. Reports from all
centers of the steel industry indicate
that the mills are running about two
thirds full and that new orders are
probably not over one-third of capacity.
The railroads have not yet entered the
market to any extent, and buying from
this source is badly needed
"A sentiment is gaining in strength
among thoughtful business men that
the application of railroads for a s per
cent increase in freight rates should be
granted and 1t would seem that favor
able action on this matter, together
with the passage of a good currency
bill would cause a sharp revival in all
industrial lines.
Banking and Currency Bill
Recent developments indicate the
possibility of the banking and currency
bill becoming a law before the close OF
the year, but up to few days ago final
action hardly seemed probable before
Marchss1, 1914. 1t seems certain that
the House bill will be changed in MANY
particulars. The Senate committee on
banking and currency having been I'M
able to agree upon bill, has submit
ted two separate reports. The banking
sentiment seems to be that there arc
good features in both the bills now be-
fore the Senate, and satisfactory com
promise will probably be reached The
original Glass bill provided for 10 regl-
onal banks. One of the Senate bills
provides for eight and the other for
four. There is much to be said in favor
of one central bank, but at this, for po-
litieal reasons, seems to be impractic-
able, the plan for four regional banks
seems to be the best.
THE strength of "a reserve bank
should be unquestionable and the ratio
of deposits to loans should be as nearly
uniform as possible at all seasons. A
regional bank located at New Orleans,
for instance, to serve a territory COM
prising the gulf states would not be
in as strong a position as a bank serv-
p
more diverse commercial and agricul-
turaly interests. An ideal situation
would be for a bank to serve a district
of varied industries and of diversity
of soil and climate, so that at all sea-
sons there would be some demand for
money from one section as we'll as a
surplus of funds in another.
"It seems to have been taken for
granted that regional banks must be
established in New York. Chicago and
ST. Louis, which are now the three CEN
tra1 reserve cities of the National Bank
ing system, and the argument for q
greater number of banks seems to
rest mainly upon the theory of decen-
tralization, assuming that as banks are
necessary at these points, there must
be at least four or five additional
reserve banks established at other
points in order to prevent undue
concentration of funds at the three
centers. We are unable to see the me-
cessity of locating regional banks at
any of these central reserve cities, for