The Birmingham age-herald., 1915-09-25

with the banks in the south money Is
 abundant Therefore If the comptroller
 had seen fit to make a comprehensive statement which would set forth the con
 dttion of the smaller banks the probabili-
 ties are that this report would contain
 lesson little more impressive than the
 report which shows the number of banks
 carrying money in excess of s25, GOO. 900.
 The Real Money Power
 Some of the figures reported by Comp troller Williams disclose the fact that if
 there be any money power, in the sense
 in which that term has been used by poli-
 ticians, it is not exclusively in one sec tion, but is scattered throughout the country. For instance, Boston has two
 banks which reported to Comptroller Will
 liams gross deposits in excess of $90, 000,-
 900 each These figures tell of the extra
 ordinary increase in resources of that kind in Boston. Fifteen years ago it was
 observed that in some of the larger cities
 west of the Allegheny mountains accum- ulations of money were under way. Now Pittsburg has one bank with deposits in
 excess of $5000O, GOO. A few years ago a
 deposit bne of that kind carried by any
 bank in New York would have attracted attention. The great growth of money strength and resources in the northwest
 W
 the banks in Minneapolis has gross de-
 posits little under $50. GOO. 900, while an other carries gross deposits of $34000, GOO. One of the banks of St. Paul reports gross deposits a little in excess of $S7 100000, so
 that in the federal reserve district of
 which Minneapolis and St Paul are chief
 cities there are three banks with gross
 deposits of approximately $125.0o0,000. The strength of Detroit in money re- sources is illustrated by the report of one of the Detroit banks that it is now carrying gross deposits of $43. .00oo GOO. One of the Cincinnati banks Is included in the list of banks whose deposits are in excess of $25,00 GOO. Almost every one ascribes the unparalleled increase in the gross de- posits of the national banks to the inflow of money from the belligerent and some of. the neutral nations. But those who are well informed are of the opinion that the icrease is not entirely explained in 7 this way.
 It certainly is not fully explained when the redundancy of money in the southern 1 banks is referred to. And while the farm CTS whose harvests last year were of
 wheat and other food products of the soil undoubtely contributed greatly to the de- posits of the banks in the agricultural 1 sections because they were able to sell
 their products at good prices to nations I across the sea, yet markets of that kind do not fully explain the wonderful ln- crease in the deposits in banks in the az 1 riculturai sections, which represent chiefly the accumulation of the farmes. Occa- l sionalsy, when the loan to England and l France has been the subject of discussion, 1 the remark has been made that the re- ports of the national banks to the comp troller of the currency fully justify the statement made some time ago by Comp troller Williams that the national banks 1 would be able easily to finance the neces- sities of the nations of the world which are compelled to enter American mar kets.