The Bridgeport evening farmer., 1916-07-08
NATIONAL BANK
 DEPOSITS SHOW
 GREAT INCREASE
Further Evidence of General
 Prosperity Seen in Bank ing Reports.

| Ing Reports.
 Secretary McAdoo, in a speech Of
 unusual power and significance, deliv-
 cred at Raleigh, N, C., presented in- 'scontrovcftiblc evidence of the coun-
 try's prosperity and stability, as the
 result of measures adopted by the < Democratic administration. When the country was on the verge of ap- VI palling panic, at the outbreak of the 4 European war in 1914, 1t was. he tsaid, the decisive and adequate meas J ures taken by the government at ! Washington that prevented this panic T and laid secure foundation for the T great prosperity we now enjoy.
 ss s.'What a contrast this is," said the < secretary, ito the ineffectiveness of athe Republican administration at {: Washington during the panic of 1907, \ which loft the country prostrate for i njany years and brought kmmeasura- bic disaster upon the American peo- 4 pie"
 Reserve Act Leading Factor.
 'f A leading factor in. all this has been Ahe Federal Reserve Act, which is \ now generally conceded to be the 4 1IxQ8l COnStI uCtAVC klCaSAAo RAe~SSO I upon our statute books in a half cen- EtHry." Continuing. the secretary said:
 Nothing is more indicative of the ! amaxing growth of the country than 4 tho condition Sof the banks. The N fComptroiler of the Currency states ftfaf in March, 1916, the. resources of \ tlfe National banks amounted to $13.- \ &&a, ,O0O, ,000, exceeding by $37O,00O,- fl RX6r <y :. l. fae rocor1rcor ovoy ahowr l in khe history of the National Banking E6yttem. The resources of the Ma Ifio6nal banks were $2,2T1 ,000. 900 4 ireater in March, 1916 than in II March, 1915. s
 I l sThis marvellous increase in one year exceeds. the Comptroller states It the entire resources of the Reichbank J of Germany, as reported in February. ''The aggregate resources of the Na- { fional banks of the United States now 4 exceed by approximately $3.00O,00O,- ! 900 the combined resources of the 4 Bank of England. the Bank of France. I tho Bank .of Russia, the Reichbank of {! Germany, the Bank of the Nether- I lands. the Swiss National Bank and < the Bank of Japan. The total deposits .l Of the National banks in March, 1916, Amounted to ,$1 10, 790, 900, 900. an in- crease in three months of $411, ,000,- x GOO, and an increase over March, *ls1S (one year), of $2,198.000,000
 These figures are so prodigious as i to be almost unbelievable. They re- 4 nect infallibly the degree of prosperity \ n wide and deep. As it is amazing and II kratifyfng. 0hsftAn not speak of this
 record without superlatives. Even 4 tho infallible and sanctif1ed Republi-
 can party could not have done bet
 All share in Prosperity.
 The Secretary pointed out that
 prosperity is permeating every corner I Of the country and every class of the f American people, Labor is employ l cd throughout the land at the high I Ast wages ever known. The dinner \ 4spadl is over6@hing The -farmers of 4 tthN United States never in their his- '! tory have enjoyed such splendid re-
 wards for their. toll. V v sThe Rural Credits Bill" he said.
 rwhich will soon be, passed and ap- I proved by the President, will emanci- 1fpate the farmer from many of the 1 most serious Nls he has so long en- II dured and provide the long time cred .t ats. at low rates of interest, so essen
 fial to the remunerative and produc-
 tive development of the farming in-
 austry.
 s'The prosperity of the coun-
 try is strikingly reflected in the
 surplus reserves of the National
 ! banks. These reserves are now
 s % great that they give the Ma <. 4 tional banks further billion dol-
 lars. If we add to this the loan- b ing power of the state banks and
 trust companies of the country. we have an. aggregate approxi- mating the astounding total of
 SC. .0O0. .000. 900.
 TO Forestan Dumping" .... eAr, analysis of the conditions in the United States and of the possible NJ economic effects of the war in Europe .l does not, in my opinion. give the slightest justification for any fear for -Four prosperity. A Democratic Con- d 5lEress, however. out of deference to zl any honest apprehension that may { exist in the minds of business mon. VIII enact legislation against the j Humping of cheap European goods in N our markets and will prohibit by law kunfair competition by foreign c0mpeti- 1T 4ors with American business men and s( Ynanufacturers. While do not be- iIfeve these measures are essential. l tl favor them simply as precaution and as m assurance to the timid and l hesitating. at "when contrast the enormous Financial and economic strength of the lUnited States and the extraordinary aiskil, and creative genius of its people, Iswith the depicted resources and the tweakened economic power of the great lTuropean nations, and the destruction ,of 50 much of their skilled labor and Imnnhood, feel somewhat ashamed O: itha frifht and timidity manifested by
 some people of the United States whom we have been accustomed to regard as s<eaIIy strong.
 Europe VIII e Crippled.
 swhen peace is restored in Europe,
 4he bslligersnt nations will hnd them selves burdened with an almost insup- asortabis load of debt. Taxation, both
 Oppressive and excessive, must be
 bornet toi pay stlfes intarest on these
 dehtsa sTasati6n ts an important fac- ~ d,,o 1.