Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1915-01-28

teglmentS OF Belgian infantry are
be a steadying influence, leading
when and where leadership is requis'
tie, but never allowing itself to be-
come an instrument for the promo
ton. of the selfish interests of any
private or sectional group, be their
aims and methods open or disguised
Time Will Tell.
thine and experience will sho"
what of the seasonal variations III
the credit demands and facilities in
each of the reserve banks of the sew
eral districts will be and when and
to what extent a reserve bank may,
without violating its special func-
ton as O. guardian OF banking re,
serves, engage in banking and credi;
operations.
''The vast and complex structure
of modern banking and credit sys-
TENS is one of extreme delicacy OF
balance and adjustments, and it must
never be overlooked that it is highly
sensitive to all manner OF disturb
apces as recent events have palA.l!-
" demonstrated. The banking sys-
tens of the larger nations are close
" related to one another, and tlnan'
cial distress or collapse at one poin:
quickly permits shock to all others.
Safety for us at critical times will
depend ON the confidence system
commands, the strength Of its re-
serves and it's. power to bring them
into action promptly and effectively
if needed.
To Act Promptly. :
"In dealing with new districts and
entirely changed banking methods,
time and experience alone can sup
ply the data necessary for cnartin3
the course to be pursued. This coz.
%s4deration, if nothing else would sug-
gest the greatest patience and pru-
dence even if the European horizon
We're less clcuded than it is today.
None the less, the board realizes that
where extraordinary conditions war
rant extraordinary measures, it is the
foremost duty of the board and the
banks to act promptly and boldly"
The board refers briefly to open
market operations of the reserve
banks and announces that regulations
governing the purchase Of acceptance
es will soon be made public. With
the issue of these regulations, the re-
port says there will be ample en-
ployment for all funds of these banks.
! which experience demonstrates they
may safely and properly invest at
times when such funds are not a.
sorbed in responding to the demands
of commerce, industry and agr:cI'-
ture.
The board points out that another
pressing problem, that OF admission
of state banks and trust companies
to the system, is receiving cOnsidera-
ton and "that at least a tentative
solution Of the problems at issue may
be arrived at iii the near future"
The report shows that 90 state
banks and trust companies, with az
gregate capital and surplus of $S,151,.
800, have been converted into nation
al banks and entered the system since
the passage Of the act. Nine state
banks and four trust companies with
capital and surplus OF $17,SS4,O 600,
have been admitted under their own
charters, with the understanding that
they will accept regulations for the
conduct of business made by tlt
board. Applications from 81 othea
such institutions which prefer to wait
for the issuance OF regulations gov,
erning their admission are pending
before the board.
The report. reviews thu steps winch
led up to the decision to put the
bank in operation November 16, de
claring. that after, getting opinions
from a great variety Of sourc rs, i;
found such a diversity that it was
guided by its own estimate Of The
proper moment. ...
\ Events have since shown" it sa"s
that the. opening of the institution;
was wisely timed to sy1chronize witt
the restoration of activity in our ex
port trade. When the financial anvi
ETY. which prevailed during the lat q,
part Of the. past summer, and the diff
Guilty which was then experienced il
getting Banking accommodations a
reasonable rates, even upon security
of undoubted solidity, are recalled
the substantial Improvement which
has taken place since becomes evl
dent, and is a remarkable tribute no
only to the recuperative power g:
American commerce and industry, bu
also and largely to the beneficial or
Grafton of the new banking system
IL
You Needn't keep on feeling dis
tressed after eating, nor belching
nor experiencing aus between
meals. Hoods Sarsaparilla cure:
dyspepsia-it strengthens the stom
ach and other digestive organs fol
the proper performance of their func
tons. Take Hood's.-Adv.
Preliminary steps for the organiza
ton of a farmers club we're taken a,
a meeting held at the Yeomen hall
Brenna township, Grand Forks coun
ty. A committee was appointed t.
draw nm a constitution and hy.1aW