South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-08-28
South Bend Bankers Declare
Prosperity VIII Force Itself
Upon u. S. AS Result Of War

National bank with which the Citizens
Loan & Trust Co, Is affiliated.
Produce is the only counsel neces-
sary. The banks are in good condition
aside from the safety guaranteed by
the federal reserve system, and the
outlook is good from every stand
point"
Mr.. Harrison tells of recent INSISTS
TO Chicago and Indianapolis during
which he went over the financial situa-
ton with bankers in both of those
cities, and asserts that "alI Of them
are looking forward with hope that IS
akin to assurance"
Europe and South America are
bound TO be in need Of American
goods and products and South Bend as
manufacturing city will get it's share
of the patronage"
Speaks of High Prices.
Charles w. Coen, cashier Of the
Merchants National bank, like the
others, has noticed no change since
the war broke out, and too, is not
expecting very material one. II see
so little need of local diSaffection on
account of the war that l have given
the matter OF industrial effect very
little thought" he declared. The
banks business has not been affected,
deposits are continuing TO come in,
and his general feeling is that the
effect of the war will be more bur-
densome to consumers than TO man
ufacturers or producers, and that, in
fact, the latter will profit by it.
Authorities at the First National
bank and the Union Trust Co. were
unavailable for interviews. One
banker, Cashier Harrison of the Cen
tral National, hands in this from the
New York Financier, with regard to
the cotton situation, which appears to
be a matter of much concern with
local manufacturers. 1t says, quoting
John K Ottley, vice president of the
Fourth National bank, Atlanta, Ga:
"A week ago the financial cOndi-
ton of this country received a shock
by reason Of the European war crisis
Four or five years ago this country
would have been in a really bad fix
over this. But today the United States
is coming out with flying colOrS.
There is no reason why a sound
business man or farmer should be un-
easy.
Cotton Crop Safe.
Fortunately for us our cotton crop
is not on the market. The govern
ment has pledged itself to relieve the
situation as far as possible and to help
move the crops. Already $4,000, 600
mas Deen alIOIIeQ 10 various CLUES DN
the secretary of the treasury. This is
above the sum indicated by the pol
icy that the government had out
lined, and may be taken to mean that
the government will not stop at this
sum, but may distribute such other
sums as are deemed advisable.
THE Aldrich-Vreeland law has been
so amended that II will prove of
great assistance in financial emer-
gencies.
The banks of this country have
and will have in the near future great
opportunities to assist and protect
business. 1t is a great opportunity
for the bankers to exercise practical
patriotism.
THE government has resolved to
find out how much. If any, cotton IS
needed abroad, and ii can be depend
ed upon that at the proper time the
necessary money and means of trans
portation for delivering our cotton
will be forthcoming.
The banks were never in stronger
financial position or better equipped
to meet the present situation. The
farmer, the country merchant, the
banker and the government will CO.
operate and the emergency will be
met. 1t is the time for us TO sit
steady on the job and we will win out"