Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1914-11-03

the surplus stock at home are pro-
vided. AS soon as spinners and buy
ers of cotton goods are assured that
prices of the raw material are on
reasonably stable basis there will be
slight encouragement to continue to
refrain from buying.
Leading bankers in every section Of
the country are of the opinion that
the money situation will continue its
tone of improvement, and will there
fore be a distinct aid to the estab-
lishment of a more satisfactory con-
dition for loans to business interests
on a favorable basis.
The New York City banks have
converted their forty-four million dol
lar reserve deficit into a comfortable
surplus.
The new federal reserve banks will,
If present expectations are realized.
be in operation in two weeks, stimuli
taneously with which there will be an
important liberation of cash reserves.
which will add to available loanable
funds.
The federal treasury also announ-
ces that it will deposit with the re-
serve banks much of the money It
has heretofore locked up in the gov
| ernment vaults.
Half Billion Available.
According to an estimate of the
comptroller of the currency, no lesa
than $500,000,000 will be released
from the national banks throughout
1.-THE country as soon as the district
banks open. A still further source
of relief will be the immediate abil-
ity of the banks to take out the new
federal reserve notes and thus retire
what emergency note circulation has
not already been retired on the date
the new banks open Meanwhile there
has already been substantial reduc-
tion in the volume of clearing house
certificates outstanding in New York
and the clearing house banks and
trust companies for the first time
since the war strain began have been
able to report full restoration of
reserves even on the old Is per cent
basis.
The demand by banks and trust
companies for mercantile paper is
improving in satisfactory manner.
1t is obvious that the money situa-
tion is one of distinct promise.
The credit situation, too, is i'm
proving. Hence the problem becomes
a routine banking question, for it is
conceded that the International trade
within the next two months or SO.
Our bankers have not been able to
secure assurances from the Bank of
England, although such assurances
have not been officially sought
through our state department, that
gold will be paid back to us when
the tide of trade does finally turn in
our direction.
Politics VS. Business.
A very definite illustration has
been furnished during the past week
Of the difference in method, as well
as in effectiveness, of the politician
and the man of finance and business
in dealing with grave national ques-
ions.
The cotton" politician stood on the
'loor of congress and yelled himself
1oarse in crying for a so-called REM
sdy for the Gotten problem which, il
granted would have been as disas-
-rous for the whole country as it
would have been for the South in
particular. 1t furnished a certain
amount of cheap notoriety, however,
which to small minds means political
capital, a valuable asset at time
when the ballots are to be dropped
nto the boxes. The demonstration
IN the floors of congress last week.
therefore, had no relation to the eco
1omic problem now confronting the
cotton planter-and his banker.
The banker, on the other hand, has
gone about his work quietly and con-
'idently, has amassed his resources
n scientific manner, and outlined
he conditions under which he Will
'ender aid to those who really need
t and in a manner that will con-
not only to his present No.
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