Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-02-15

OF the Chamber of Commerce, who has
guided 1T successfully for the past two
years. reviewed the work OF his ad-
ministratlon at the annual meeting last
night. His report follows:
To the Members of tho Richmond
Chamber of Commerce:
Gentlemen,-It Is not necessary in
nissan my annual al report to go Into any dis,
to-day at war. To-day this country
Is at war. and at war in earnest, and
balance, we will be such factor in
the final result that Germany and her
allies VIII rue the day that Prussian
autocracy saw ut to disregard all rec
TO win this war. we must realize that
not only must We learn to produce and
save food to feed our army and tho
armies of our allies. but also to save
and conserve all of our resources.
While we arc the richest nation on
earth, yet we are the most eHtravasant
$4,000. 100000. yet our annual savings
are not more than. 8 per cent of oul
earnings. and statistics show that 4
very large percentage of our people
not only save nothing, but a goodly
proportion Of them when they die leave
nothing with which to pay their burial
expenses. Under the leadership OF Mr.
fanderlip, Of the National City Bank,
the treasury department has inaugu-
rated a savings campaign in this coun-
try, and II Is 1cvoutly to he wished that
under Mr.. Vtnderlip's guidance and
leadership. our country may become a
nation OF thrift instead of nation Of
spendthrifts. While we are not at war
Tor material gain or territorial acqui-
sition. yet II the necessities OF war
teach our people the habit Of saving.
the economic advantages to our people
will be greater than any indemnities
that could be collected or territory we
Conditions in Riehmond.
AS to conditions IN Richmond during
these disturbed and unsettled times and
Richmond,s progress and prosperity.
tse to the
magazine for details. The published
statement Of our banking operations.
increase in banking resources speak
for themselves.
Five years ago our total annual bank
clearings amounted to S4l9.12l,3l3:
Increase. the clearings for the year
1917 reaching the enormous sum OF
Sl.471.54o.260.02.
Our banking resources, according TO
the published returns for 1912. were as
follows:
Capital .................s 15.374.2so 3s
Total resources ........s67,4so.25s SO
The statement of our financial in
stitutions. as of December 81, 1917.
shows:
Capital 19942s65 az
Deposits ............... 94.669.f40 43
Total resources ......SI30.868,ls5 As
an increase In five years OF say 20 per
cent in capital. 100 per cent in deposits,
"a per cent in resources.
shall not attempt to 70 into de-
tails as to what the chamber has done
TO cooperate with the government dur
ing the past year; In every patriotic
OF this organization In the lead. In
the selective draft, in the Liberty loan
campaigns ca in the Red Cross drive and
your members not only took leading
part, but led. Richmond was asked
70 subscribe In the first Liberty loan
In the second Liberty loan her mini
MIN quota was SS,4s4,o0o-she SUBJ
Cross asked OF Ri.:hmond sl5o.00o.
and to the Y. NJ. c. A. war work and
Of her appeals she has responded mag
Efficiently.
Committee on LcEislntion.
Now that our General Assembly is
finds it's tine completely taken up in
the considera ton of various measures
affecting Rrhmonds commercial and
economic life. Questions OF taxation
and the resultant effect to Richmond
OF the proposed changes In the tax
laws are carefully considered by your
may not be able TO have their position
in matters Of taxation adopted by our
Legislniure. yet in their positive and
taxes they have impressed the members
OF the Legislature with their absolute
fairness. and have. consequently. won
Tor themselves and for the chamber
the respect of our lawmakers. At this
stage Of the Legislative session il is
Impossible to say what can and will
be accomplished. suffice It to say that
your committee on Legislation will do
everything IN their power to safeguard
Richmond's interest.
Under the supervision of the adver-
Using committee. the chamber issues
monthly ITS magazine Richmond" a
member of the chamber. but to every
American consul, to the prominent clubs
throughout the United States and to
Richmond. In this magazine is thron-
ioied the activities not only OF the
chamber and its committees. but other
mond. The advertising committee.
ever mindful OF its responsibilities.
never loses Is fa, an opportunity of adver-
appreciating the force of personal
agencies. has n representative before
every representative gathering of pco-
pie, particularly those gatherings Of
commercial organizations. to the end
that Richmond's economic and social
advantages may be exploited.
Owing to the demands being made
upon Congress for appropriations to
meet war conditions. your committee
on James River Improvement deter
mined TO postpone. until after the close
Of the war, the strenuous efforts they
appropriations to deepen tie channel
Of the James River. The history OF
this project and the obligation on the
part of the government to continue
this work have been published so many
lines that 1t Is unnecessary to say
anything in reference thereto.
The committee fully realizes the i'm
and the chamber will not be satisfied
until we have a channel Of twenty
two feet depth at mean low tide. The
congestion at the Northern ports shows
conclusively the necessity of utilizing
more than ever our Southern ports.
and when the war Is over and the
trade with South America, formerly
controlled by Germany. but properly
belonging to this country because Of