The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-01-03
! TO LAY R|cHnOND'S
CONTINUED from FRS. page,

Urn Railway and Seaboard Air Line
md with steamboat connections along
he coast. Richmond can most con-
veniently reach all points from New
Fork to the Gulf
BY means of the Norfolk and West
srn and the Chesapeake and Ohio rail.
Ways to the Middle West. II has con-
sections equal to. II not superior to-
any city on the Atlantic sesboard.
In short It Is a well recognized fact
hat the transportation facilities OF
Richmond have been developed TO such
high state OF efficiency that they are
.ecoGnlxed IN the most complete OF
any Southern city.
Movement Northward
Being partially answered in the
above, in addition we would say that
4 ID well known fact, to you as to
~ that the general movement Of
commodities, and the business trans
!Ar OF funds and exchange of credits
y from the South to the North.
In othrr words. towards the COM
nerciL and manufacturing centers of
he country. by long established trade
sustom.
Richmond Is within less than twelve
Aours' touch with all of the financial
senters OF the North. Ii is equally in
touch with all Of the South Atlantic
hates II IL practically at n point
midway. and In aiding in the transfer
" funds and exchange of credits be-
tween the South and the North, can
AVE time, both to the South and 20
the North, in facilitating such ex-
.hange.
In other words II is In position 50
lct for the North in dealing with the
South and to act for the South in deal
NE with the North.
a 10 likewise covered to a great
sxtent In the foregoing. but 1t cannot
~ denied that the established custom
ana trend Of business Is from the
South northward towards the COM
mercial. financial and distributing cen
tsrs of the Atlantic seaboard.
Now. as to the facts establishing
these contentious. We give statistics OF
MationAl banking capital for all of the
States likely to be included In the
federal. reserve district which Rich
mond would serve.
Virginia Exceeds All. q
II win be observed that the State
OF Virginia exceeds in national bank
ing capital and deposits any State
mentioned. The national banking
capital OF the city of Richmond Is
moro then three-fifths OF that OF the
entire State, and It's total deposits
nearly one-half Of the national bank
Ing deposits OF the entire State. The
national banking deposits Of the State
OF Virginia are more than the COM
bined deposits of Louisiana, Alabama
and Misissippi. OF course this Is
brought about to a very large extent
BY the business OF States South of vir-
kiniA with the city OF Richmond.
The capital of the corporations OF
the State of Virginia, which pay a
corporation tax TO the government IL
practically twice as much az that II
any other State mentioned. The man.
ufacturinR and 5obbing trade OF the
city OF Richmond Ia one hundred and
eishty million dollars tsfso. 0a0. ooo)
annually.
We therefore believe. that the city
Of Richmond, by reason of the fore
going facts. Is entitled to the location
OF federal reserve bank to serve
most efnciently all that section OF the
country. which we have specified, from
the Potomac river to the Gulf, and
II Richmond be not selected for the
Allegheny mountains
It Ii greatly to be -aprehended that
from the Atlantic seaboard to the
federal reserve bank in the South Al
iAnfic States. that some point, not only
south Of Richmond, but south or you,
may be determined upon. thereby re-
versinE the natural trend of commerce
ana nnance, resulting In, not only
temporary, but permanent confusion,
Inconvenience and Injury to you and
to ua
II In, therefore, clearly apparent
that our interests are mutual in this
matter, and we most earnestly appeal
to you to Cooperate with us, and 10
this end, defer action until after the
ytdt OF our committee