Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1916-07-29
SATURDAY, JULY 20. 1916.
FEDERAL BANK DEPOSITS.

Gross bank deposits of the 1878
Federal member banks of the United
States, as reported to the Comptroller
of the Currency, in the call of May l.,
1916, reached the record total Of
$11,135,322 900.
On the corresponding date four
years ago, April is, 1912, the national
bank deposits of the United States
were $S,015,511 900.
The four-year increase amounts to
S3,4O3, $4,000.
This is approximately a gain of SO
per cent.
It is far beyond the average four
year gain in the history of American
banking.
The significant and highly satisfac
tory phase of this analysis is the
nationwide character of the deposit
development. 1t proves that our pros
perity is not dependent upon war ex-
ports, but reaches every geographic
north and south, east and west.
1t is nseural, for example, that the
manufacturing industries of New Eng
lang, whose exports to Europe have
expanded during the war. should swell
New England bank deposits to the
extent of 81 per cent.
Ia;, j,
the deposits of the western states
including the Dakotas, Nebraska, Kan
sas, Montana, Wyoming, Colorado,
New Mexico and Oklahoma-have
made the still greater deposit growth
of AZ per cent.
The six New England states, which
have Boston as their Federal Reserve
center, show a four-year deposit
growth OF S191, S5S 900
The nine west-of-the-M Mississippi
states which pass their reserves
through the regional banks of Mime
apolis and Kansas City show a four
year deposit growth of $212,219,000.
The eastern states Of New York,
Pennsylvania, New Jersey, Delaware,
Maryland and the District OF Columbia
which contain the two large Fed
eral Reserve centers of New York
and Philadelphia, the large banking
centers of Baltimore and Washington,
and the government treasury and sub
treasures exhibit the larg
est volume and percentage of gain
in banking operations. The four-year
gain in the eastern district is $1,713,-
$4,000, or % per cent. This SPLEEN
did banking growth of the eastern
section answers the fears of those
, eastern bankers who feared that the
division of the Federal Reserve sys-
TEN into L districts would injure the
financial progress of New York and
Philadelphia
The south has distinctly suffered as
a result of the European war because
OF the heavy reduction in both volume
and price of export cotton. Neverthe-
less, the 10 southern states show a
four-year deposit gain of $218,084,00o,
or 27 per cent.
The eight middle west states of
Ohio, Indiana, Illinois, Michigan. Wis
consin, Minnesota, Iowa and Missouri
exhibit a four-year deposit growth of
s65S, 4O8,O 600, or approximately so per
cent.
Even the eight Pacific states, whose
commercial activities nave been handi-
capped by the European war through
the transfer Of Pacific commerce to
The Atlantic, show normal and healthy
deposit gains aggregating s124,462, 600,
or over y per cent.
With the close of the European war
and the return to activity to the Cot
ton South and the Pacific West, and
greater national energies devoted to
internal development, the bank de-
posits OF the United States-under the
rural credits and agricultural extern
sion acts-are likely to show even
stronger and more general develop
ment.
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