The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-13

cred TO the local campaign committee
betor" n!ghtfall.
Barksdale Writes MeAdoo.
Chief Examiner G. c. iiarksd;ilc, of
the banking department Of the State
Cooperation Commission. Joined the re-
Servc bank forces yesterday with
letter to Secretary McAdoo, giving
Richmond strong Endorsement. MIR.
BarkSdaIc wrote as follows:
Having occupied the position Of
chief examiner OF banks for Virginia
since the creation of the banking de-
mission, feel that am qualified to
express an opinion rs to the condition
OF the state banks throughout Virginia.
and also as TO the manner in which the
banks of ltlchtnond have handled the
vast volume of business for not only
our Virginia banks but also a very
and South Carolina and Georgia. /
say without hesitation that the Rich
inond banks have measured up to the
requirements of those banks In every
respect. and have handled this business
In q most satisfactory manner.
~ feel that the city Of Richmond is:
standpoint. as well as from it's close
utilization with and it's intimate &C
ditions of our Southern States. un
questionably the most logical point for
the establishment Of a Federal reserve
bank TO handle the business o. our
Southern States.
Il feel that cannot too strongly
urSo upon YOU the natural fitness of
IL.
sincerely hope that ii Will be the
pleasure Of your committee to name the
city OF Richmond az ono of tho places
for the establishment OF Federal re-
serve bank
Seny Back on job.
George j.. Seay, fresh from tho cam
paiBn at the front, Joined the local
committee yesterday with number Of
practical pr, suggestions gained through
men i'm North Carolina His dcscrip-
ton of the campaign committees work
was particularly interesting
bitterness. of feeling in North Carolina
over the freight rate situation between
th hat sts5s qns sa al Mr.
them boosters. but the committee rep
resenting the banking, commercial. pro.
secure tho location OF a Federal re-
serve bank in Richmond-met with a
ened to with undivided attention. We
found everywhere that the banking
fur eedess 61 had eee n sih ba on
of North Carolina that their interests.
however the operation of the law may
every where we went that Virginia.
North Carolina .n,,nan and so9th Carolina
point OF view. and should stand to-
Gether and resist any, interyentioil
TO separate or disturb the financial and
trade relations which have been built
up between these States over 4 long
period of years.
In order TO secure the location OF
one or these banks. the territory which
any location can claim as being tied
together by convenience of commune
cation and customary course of bust
ness, which the law says must receive
due regard. must be able to furnish
4 certain amount of banking capital
$4,000, 0O0-and that is the diiS ,uIty
which some OF the locations south OF
us VIII encounter when they come to
outline their district The States sur
rounding VIII not be willing to be
included
Now. Richmond is in front. in fact.
the real gateway to the country along
the Atlantic Seaboard south OF us She
Is III direct line with all the trade that
gets by and goes North, and we are
trying TO make more OF 1T stop here
every year and we are doing it.
Everybody knows that trade follows
banking capital. and is developed by
IL All very large transactions have
10 be carried to the money centres.
Now, this is an important thing 10
consider. IL is the spirit and purpose
OF this bill 10 prevent, IN a great meas
ufc; thc too great concentration of
capital in those centres which have
heretofore dominated tho country
financially.
1t is intended TO place. so to speak.
eight to twelve reservoirs of banking
capital scattered over the country, ano
10 provide that the resources of one
section may become available in mart
To another section where the need is
greater. So that il Richmond should
secure one OF these banks il will be-
come one of these reservoirs, and IT
Will attract capital and trade from all
quarters. 1t will be known the world
nf Gpn