Bisbee daily review., 1917-10-16
WILSON ASKS ALI BANKS ID ENLIST GOLD IN THE CAUSE.
President Urges Mobilization of Nations Gold Reserve Under the Direction of the Federal Reserve Board.
CBy Review Leased Wire )


 WASHINGTON, Oct. 15.-President Wilson tonight sounded a call for the mobilization of all the nations gold reserves under the supervision of the federal reserve board.
 In a statement made public through the board, the president called upon all eligible non-member state banks and trust companies to join the fed eIal reserve system without further delay that they may contribute their serves of the country ana aid more effectively in "a vigorous prosecution and successful termination of the war"
 Many Join System.
 Scores of such institutions have flocked to the system within the past three weeks, among them some of the largest trust companies in New York, Philadelphia and other cities. The movement to the federal reserve system has lacked only a final i'm polling force to assume the propor- tions of a landslide. Within less than three weeks, resources of such institutions in the system have risen from s1.2OO,OOO,OOO to more than s2.6OO, ,00O, ,O00
 Move Is Imperative.
 Liberty Loan financing. the result ant activity in money markets, the effects of the governments huge fi- nancial operations upon the bond market and the stock exchanges of the country have made it imperative. in the view Of the administration, for the federal reserve to control not major fraction of the gold reserve of the country, but the entire amount. The recent embargo on gold exports has made it highly desirable that this control be acquired as speedily as pos sible.
 With the board active, daily control of the country's huge store of gold, at present more than S3,00O,000 ,OO0, watching every avenue through which j. may be lessened and vigilant in it's supervision of the country's banking activities, officials believe that the ii- nancial position of the country may be rendered as nearly impregnaDle as hu- man skill can make it.
 Controls One-Half.
 At present the board controls the activities of institutions representing only one-half of the country's total banking reservoirs. The latest report of the comptroller of the currency places at several millions above S16,- 100000 900 the resources of the banks within the system. Since that report was issued, however, nearly $1,500,- 000, ,00O in resources have been added through the acquition of new mem bers.
 There are, however, between 5000 and 5000 eligible banks and trust com panies with resources estimated at from $12. .0OO.OO0,00O to $16 900, 0,0O0, 900. whose resources are entirely beyond the control of the federal government, being governed only by state laws. The president addressed himself to these institutions.
 His statement says:
 Presidents Statement.
 "It is manifestly imperative that there should be complete mobiliza- ticn of the banking reserves of the United States. All who are familiar with financial operations must appre- oiate the importance Of developing to the maximum our banking power and of providing financial machinery ade- uuate for meeting the very great fi- nancial requirements placed upon our country by reason of the war
 "A vigorous prosecution and satis- factory termination of the war will depend in no small degree upon ability of the government not only to finance itself. but also to aid the governments associated with it in the war. which must be kept supplied with munitions, fuel and supplies of all kinds.
 Banking Problem Great.
 'The banking problem involved IS one which concerns all banks alike. The important functions or the fed eraI reserve banks in the sale of the govrenment's securities. in receiving and transferring the billions O. dol