Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1917-06-01
Loan Easy For Banks.

John Shelton Williams, Comptroller of
The Currency, in statement discussing the
financial strength Of the nation, points out
that the $4,000. 600. 900 Of Liberty Bonds
represent only one-fourth Of the increase
in the resources of the country's national
banks and state banking organizations in
the last three years. Mr. Williams also
advised prospective purchasers OF bonds
in small amounts that If the banks they
were dealing with were not willing to help
handle the bonds he could direct them to
banks which would help finance the pur-
chase
Mr.. Williams statement. in part, is as
follows:
Reports from all national banks as Of
May 1. 1917, just compiled, show that the
total resources Of these banks at this time
exceed $4,000. 900 900, and are $780,
100000 more than the greatest resources
ever heretofore held. In the country banks
as well as in the banks in the reserve cities,
resources have broken all previous records.
The increase over March S. in resources in
reserve and central reserve cities exceeds
S90.000,000. while country banks are
$70,000,000 ahead Of all previous figures.
Since July. 1914. the resources of our
national and state banking organizations
have increased $4,000. 100000. This in
crease alone exceeds the total deposits Of
all Of the banks, large and small. in Great
Britain and Ireland. including several
banks whose total resources are greater
than those of any individual bank in this
country. and also including all deposits in
the Bank Of England.
Financially this nation is fully pre-
pared to meet successfully any and every
demand which duty. honor and the fullest
protection to the lives and property Of its
citizens can impose. IL is ready and able
TO vindicate before the world the princi-
Piles Of democracy.
mo nation ever before possessed the
immense financial strength and power
which ours has today. We have become
the greatest reservoir of world credit
Figures indicate that the production Of
wealth in the United States for the past
two years has been at the rate of more
than $4,000. 000. 900 per annum. Since
the outbreak of the war in Europe. 2 years
and 10 months ago. students Of the situa-
tion tell us that this country has created
about $i00. 900. 900. 900 Of new wealth and
that the surplus earnings Of the American
people, over and beyond their living ex-
penses for this period. have exceeded $780,
OOO.OO0,000.
Much Of this accumulated wealth, pro-
duced by over 10000, 900 intelligent work
ers. has been re-invested in mills and fac
tories. in the enlargement and expansion
OF business enterprise Of all kinds, and in
loans to foreign countries. while our de-
posits in banks have increased billions.
1T is believed that the investible earn
ings or profits Of the citizens Of the United
States are now increasing at the rate of
$2.000.000l000 every three months, so
that II our people should invest in the
Liberty bonds their entire net increment,
or excess Of income over actual living ex-
penses, for three-month period and avoid
other investments, this alone would prac-
tically absorb the entire issue Of bonds
now being offered.
IF any man or woman drawing salary
or wages or having other income desires
TO buy a Liberty Bond, and having only
portion Of the money available, wishes to
pay for the bond during the ensuing year
as his wages or income permit. he will
find the. banks in his immediate locality
generally willing and glad to accommodate
him. as our banks generally are evincine
splendid and commendable patriotism and
are working unsel6shly for the common
good. But II any such man or woman 10