Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-05-18

y review Of the COuntry's general pros
pcrity warning for caution and economy
to meet "A possible regdiustment in business
and the belief that some busincss-like citi-
ems were praying for the end OF the war at
night and hoping for its continuance during
the day on account Of personal investments
were some Of the pertinent points in the ad-
dress OF r.. p. Passmore. president Of the
Pennsylvania Bankers Association. at the
opening of its 22d annual convention today
at the Bellevue Stratfurd
.fie pointed out that the net earnings Of
banking institutions We're not In propor-
ton to the volume Of business. This was
due. he said, to unhealthy competition and
the mad race for large figures without re-
gard to interest cost.
AS definite illustration Of the coun-
try's prosperity Mr. Passmore said the
per capita circulation from a financial
standpoint had increased from S3i7i to
S3Sil during the last year. This means
an increase Of $367 per person or total
gain by the entire United States of ara
$4,000. lie also took fling at the
Federal Reserve Bank plan and declared
that the time had come when 1t must show
its usefulness outside Of periods of panic.
Mr. Passmore said in part:
INDUSTRIAL. GROWTH
quite apart from the very unusual inter-
national questions which alone will mark
this decade as extraordinary in our his
,,SSii tt,.ii ,,i.iti,. i, ,.,,i., i
,,., ,i.t - ~,
none. co,,,e ,r H.. rm,,,t,.,. ,r,d =, ,r,,oi
o,,s c,,,,a,,siC,, II, Ia,rg da,osits ,,d ,,,,
nt r,,,,.,' - ,. it.t tti..i -
In this wonderful exhibit Of prosperity our
VII, n,,,. - ,st @ ms ms aaH, p"ri
working full times and many night and day
greatly increased wealth is coming to
,roGtobl,- ,,,d ,g en-. ,,,,,,t,.1 -, ~,
itaI has been liberal in sbarin,, ,,,,,.,,,1
nronts with en,nlovas rbe inc-aos, i tI's
ner capita circulation of tho IN" am ooo
estimated population of tbe Trnitaa states
as of April last To S3S II from, sel "a for
the previous year gives some idea Of the
tremendous strides the country is making
Just how long these conditions may CON
tinue cannot be foretold. but il cannot he
disputed that the prosperity of the United
states Is very general at this time.
''If we cnn maintain nur ,,r,s,,, I., -
commercial transactions for. a reasorabia
time we should be well satisfied Tho ,,or,.
uncertainty OF its continuance warrants n
re letition Of the suggestion Of consar,,.tis,,,
and we can render a very real service II
thereby we can the better anticipate and
meet the sudden readjustment in business
which shall of necessity come with the end
ing Of the war, whenever that may be
''I fear many of us have driftad int, ,ta
position of praying at night for an o,rI,
cessation Of hostilities. while really bonirg
during business hours that the war ,,ay, nnt
end until our profitable contracts can bo
filled and the anticipated enhancement of
our Investments realized.
r,,,r,,,>.s,,, ,, ..,,.,.
''-,''- "'i'i'H III 'iStD'
We nave heard much and continued talk
III TINS country about national preparedness
with httle idea on the part of the masses
OF Just what that most indefinite term i'm.
cludes, While there is abroad in the land
an emotion that is prompting young men 10
go TO training retreats. that is stirring some
educators to the conviction that after all.
II may be wise that the younger generation
of men should include some knowledge of
military work In their preparation for life
and is attracting corps of women IA ca,nus
to learn TO perform the tender ministra.
tions which il tx the nurses MARI IN render
fortunately. there seems 10 he proyriuf ,yrad
ually a clearer lndarstandinrs tbat tbo~a
are other ways to demonstrate o,,r lo,,aI,,.
in these times that trv mems sonI. ti,,.1 ~
foIlouino i'm tho footgt.r,, ~ ~ ,rIittty '', ~
,,bo ba,7a hrou,,bt abo,it ~, va 5u7 r'
80, t,,a o, 80 ~, - st'J TiI' ot iu'
ss,,ra 81 ,ra,ar,,I,as So 49, 80 9oIre