The Washington times., 1915-05-15
WILLIAMS EXPLAINS
REASON OF VIGILANCE
Riqid and Careful Inspection Will
Keep Banks Safe and Halt
Danger, He Says.

John Skelton Williams. Comptroller
of the Currency. in connection with the
returns filed by Treasury officials to
the Riggs Bank Injunction suit, said
today:
Some of the newspapers have stated
that much of the alleged dissatisfaction
OF the bankers of the country is against
what are described as harsh, inquisi-
torial, and troublesome demands OF
the Treasury Department for informa-
ton. We have heard here few such
complaints.
These newspapers tell us that tho
ba eSers fear to voice their grievances.
dreading reprisals from the depart
ment. This really Is an accusation
against American bankers of remark
able lack of courage. 1t would he diff
ticult to make me believe that the men
OF the general character Of our bank
ers could be intimdated by any power
so thoroughly that they would submit
to wrong or injustice without protest
or resistance. Nevertheless these pub
lications, however severely and unjustly
they accuse our bankers, do much good.
unintentionally and indirectly. Belief
in the public mind in the vigilant and
rigid enforcement of the law hy this
depa rtment will do more than any
other imaginable force to maintain pub
lie confidence in the stability and in
tegrity of our banking system.
Credit and Confidence.
The Treasury Department ia the
public health department of our finan-
cial community rs duty requires 1t
to be especially rigid and careful when
there is trouble or threat, or danger OF
trouble, and to inspect all PREMISES.
however safe they may appear. or how
ever much confidence We may have in
them. 1t is a familiar fact that credit
and confidence are frail and delicate,
likely in time of danger to be injured
by vague suspicion. murmur or a
breath.
We have come through very pcrilous
situations. 1t behooved this depart
ment to be especially vigtlant. even at
the cost sometimes, perhaps, OF some
annoyance or expense to sound ana
carefully managed institutions. This
course was necessary for the safety OF
the entire financial and commercial
structure. not only Of our own country,
but OF the world, for the world is de-
pending and hasing its hopes for le-
covery on the stability OF America.
Experience has taught that in
periods Of crisis or alarm. single
smash caused by corruption or careless
| less or unwise or irregular methods
may precipitate widespread calamity.
IT was and is of supreme importance
to supervise with extraordinary care
the larger and older and more success
full banks. those which are iookei 10
| as leaders in success, because If they
We're allowed to fall into loose or had
habits. their examples would be fol-
| lowed. naturally. by associates lees
stable, less capable OF enduring strain
or losses. The greater and more In"
nuential and widely connected the
| source of infection. the more the danger
of the spread of infection.
This department has no purpose to
| be eXacting or tyranniCal. Its policy is
| to labor to establish uniform stability
| and adherance to the laws and ethics
and principles of sound business. so
| that public confidence may be estab-
| lished on those founda tions surely and
| securely in every part of the country
We hope earnestly that our efforts will
fects for which we hope is that the
| close inspections and inquiries we have
| conduCted-and II will be understood
| that we cannot discrimnate-will enlist
! the close attention of directors to the
management and internal conduct OF
! banks they are supposed to control.
| These directors usually are the most
substantial men of their communities.
| Where they can be induced to give their
close. personal. active. and intelligent
direction to the details of practice and
methods. safety will be assured.
| we think that the record will show
| that so far from conspiring TO wreck
| the Riggs Bank, we have been patient.
| persistent, and energetic in endeavor to
save its stockholders and depositors and
the general public from the perils al
! ways attending departure. by officers
| or any banking or flduCiary institution.
| from the lines of the law and the safe
| rules established by custom and proved
| by experience"