The Birmingham age-herald., 1918-12-14
FINANCIAL MEN AND LEAGUE. OF NATIONS
By HOLLAND

 l New York, December 13.-No one can have talked with some of the leaders in the financial district with intent to get l the opinion of these men respecting the contemplated league of nations and free dom of the seas points as these will be l discussed at the peace conference, with out discovering that there is almost as much interest centered in the league of | nations plan as in the question which refers to the freedom of the seas. | There seems to be much doubt in the minds of influential men of finance re- specting the real meaning of the league of nations. Some are wondering how league can be maintained unless there stands behind 1t force sufficient to en- | force 1t should any nation attempt to | back out of it. That, 1t is understood, Is the crucial point in this proposition to which Colonel Roosevelt has in private conversation frequently alluded. Never theless the best minds in the financial district seem now to be persuaded thar the only guarantee of permanent peace Is one which would be established by d l binding agreement among all the na- tions, so binding that they can be held to this agreement although anxious to with draw
 Thomas w. Lamont, who has taken part In much public service of import ant financial character for which he has received no more remuneration than his 1 sense of having done something that l has been and is now of service in finan- cial adjustments, and will be of service l in readjustments, Is strong advocate 1 of the league of nations, presumably rep- resenting the views of his partners in the house of J. F. Morgan and company Other bankers confess that they strong ly hope that an agreement of this kind which will be binding will be perfected at the peace conference.
 This view Is held not because there Is any expectation or sense of personal profit in the paramount maintenance of peace but because peace established and guaranteed means so much for the ad- vancement of civilization.
 Chauncey M. Depew in speaking of the proposed league of nations said this morning that at one time when he was ! dining with Gladstone he was asked by Gladstone if he were not a delegate to the peace congress- In reply Depew said that he was Thereupon Gladstone said that there were 100000 men un der arms in Europe at that time and therefore any international peace agree I that way Glodstone looked at the pro- posed agreement of the nations so to act as to maintain peace. But Depew said that one of the reasons why it is vital for peace that league of nations be established is to be found in the fact that if it were established it would not be necessary to maintain armies num- bering 9,00O,000 people upon the continent of Europe The demobilizing of armies and the limiting of numbers of men in military service to an aggregate that would be sufficient for internal protec- tion and police duty, is, Depew thought, one of the chief purposes upon which the proposition of the league of nations | is based.
 BILLIONS AGAIN
 Ninety eight trust companies, POS state banks and S4 private banks are today in operation in New York state. It has been the hope of the federal reserve governors that in due time many of these state banking associations will be num- bered among the members of the federal reserve system. Already some of the state banks and trust institutions have allied themselves with the federal re- serve system. The experience which the state institutions have happily met with and especially in the first two months of the autumn of this year tells indirectly at least, a story of unusual prosperity. All of these institutions combined have resources of SAP ,000,0o0 (round numbers.) And in seven weeks since September It the resources were increased by nearly $139, ,O0a.000 With what favor the trust institutions are regarded is revealed Tn the fact that they now carry B, ,OOOUl in the form of resources and $2,5O0. .000. .00( (round numbers) represented by deposits [ The state banks. which number little over 100 more than the trust companies,