The citizen., 1914-02-27
FOUND NOTHING
BUT PROSPERITY
Secretaries McAdoo and Hous.
ton Return f rom Tour.
THE CURRENCY EILL PASSED.
Cabinet officers Issue Statement As
Federal Reserve Bank organiza-
ton Committee Telling Of
Their Trip Around Country.

Washington.-The federal reserve
Washington after a FIVE weeks trip
through the country, in statement
announced that it's selection of federal
reserve cities and definition of reserve
districts would not be made until care
full consideration had been given the
information accumulated on the trip.
The statement said the committee,
Secretaries McAdoo and Houston,
found the country prosperous and
learned that bankers and business men
are greatly interested in the new bank
ing system and confident of its sue
cess.
In supplemental statement Mr.. Nc
Adoo declared that he hoped the new
system would be established in time
to take care of crop moving con
ingencies next year, but that if it
were not, the Treasury Department
would stand ready to place its funds
again at the disposal of business men.
The committees statement:
I'VE have spent practically from the
4th of January to the present time in
hearing tie views of business men and
bankers on the problem of dividing the
country into not less than eight, nor
more than II, districts and of locat-
ing in each district the main office
of e federal reserve bank. Of the
two questions, the division of the
country into districts is the more i'm
portant and difficult. The committee
asked those who appeared before it to
direct their attention to these two
problems and to furnish all possible
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 informa-
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 18 cities and has heard
from every community of consequence
III the sections of the country that it
has visited 1t has secured a vast
deal of information on the movements
of trade, as well as on the currents of
banking.
"In every section of the country the
committee has found a practically I'M
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
measure was great step in advance.
The committee was presented every
where with overwhelming evidence Of
the enormous economic strength of
the country, and of the rapid progress
of every section. The fact that the
nations banking resources, as 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 whole. it 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
submitted to the committee in every
part Of the country show amazing
growth and strength and disclose
condition of financial. industrial, com
mercial and agricultural soundness
and prosperity that leaves no doubt
as to the future"