The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-04-04
RHCHMOND'S VICTORY.


Viewed dispassionately, the work of the re-
serve bank organization committee in It's selec-
ton of the twelve cities for the location OF the
regional banks was thoroughly and conscien-
tlously done and Will give general satisfaction,
Public hearings We're given in eighteen of the
leading cities. while the claims of more than
Two hundred others were presented through
commercial and financial organizations. Zach
of the nearly 1900 national banks Of the country
which assented TO the provisions of the federal
reserve act was asked TO state it's preference
as TO the location of the reserve bank with which
1t desired to be connected Geographical situa-
ton, strength of the member banks In each dis
tret population. commercial activities and every
other circumstance seems to have been weighed
carefully and now that the work is done it is
difficult 10 see how it could have been improved
upon
OF course there are disappontments As the
Washington Herald sagely observes, there was
not enough melon to go around but it ex-
presses the cheerful view that Washington fnan-
ciers will not grumbe because the capital city
was ifiN puA feltHihpHus II eACldliiS, uHS
been put on the financial map with a splash -
Baltimore does not take the disappointment so
philosophically the Sun OF yesterday indul ging
editorially in rather undignihed exhibition of
that city's sore toe. and even limiting at a bolt
of the Wilson administration because Of IT, The
American Of that city is even more bitter, char
acerizng the failure to select that city as snuh
and insult. and without reason or excuse"
There was reason. but just now the American is
ready TO listen 10 1t, perhaps The real reason,
of course. that with banks at Boston. New
York and Philadelphia to take care of New
England and the North, it would have beeh
unwse to establish another so close or to have
fixed upon Baltimore the center or metro
polls of this section of the South Geographically
1t does not fill the bill If it measured up in
every other way.
There are only the kindliest feelings through
ont the new regional bank district for Baltimore,
but from the standpoint of geographical location.
convenience. strategic position and from the
standpoint that majority of the bankers OF the
district themselves favored Richmond it is evl.
dent that the committees decision was both
wise and just. Why should the banks of tho
territory embraced in the district have to march
through Richmond-the financial center OF the
districtto 20 to Baltimore. located on the
northeastern edge of it? Branch banks Will
probably be located In both baltimore and Wash.
ington and with these Baltimore and Washing
ton must be satisfied.
The mass meeting of citizens under the aus,
pieces of the chamber of commerce last night
when the committee SO largely responsible for
securing this bank for Richmond was feted, and
at which the Joy of Richmond citizens generally
found exuberance in felicitous addresses, is
but forerunner 10 the big celebration of the
victory which is TO be held on the day the
great bank Is opened. The civic cooperative
committee will meet Monday night to make plans
for the proposed iollifcation. 1t is one In which
all Richmonds friends and neighbors can par
tcipate with gusto, and trust that both Balti-
more and Washington win send big delegations
to help us celebrate. They will be given places
of honor in the parade and we promise that
they shall enjoy real love feast