The Wilson times. [volume] (Wilson, N.C.) 1896-19??, 1918-04-23
LET EVERYBODY
BUY LIBERTY BONDS
Deposits in One Year Has In
creased a Billion and
a Half
INCREASE IN PROSPERITY

Washington, April 22.-One halt
of the three billion dollar Liberty
bond loan has been subscribed to
date. Early reports today indicate
that the total will reach $150O,00
1.-THE department has already been
Iapprised of amounts which make the
total reach $1,456,5S5,000 this
morning.
Prior to the opening of the First
Liberty Loan Campaign, the fear
was entertained and frequently eA.
pressed by many bankers, particu-
larly in the smaller banks, that the
people could not absorb the bonds
without withdrawing reposits heav-
lily.
The Comptroller in his prelimina-
ry report of the condition of the
national Banks on March 4, 1918,
makes the following statement:
March 5, 1917, Total Deposit.
National Banks $12,957,O00,0O0.
March 4, 1918, Total Deposits
National Banks, $14,437,5S9,OO0.
Increase, $1,4S0,5S9,000.
The total amount f Liberty Bonds
held by the National Banks on
Mar. 4, 1918, was only $433,73S, 900
or about Z per cent of the total cf
Liberty Bonds issued to date, while
the amount loaned by National
Banks on Liberty Bonds on March
4, 1918, was only $299,6S4,000.
Reports of the condition of State
Banks in Virginia and North Caro-
lima to December 81, 1917, show
the following results in comparison
with the previous year:
Increase in resources in North
Carolina s36,434,0O0.
Increase in resources in Virginia,
s24,O26,OOO.
In North Carolina deposits in
creased s31,0o0,O0o.
In Virginia deposits increased
$1S,4S9,000.
Chnada-From July, 1914, just
prior to the beginning of the war.
the savings deposits of the Domin.
ion were $663,650, 900; on January
II, 1918, they were approximately
81, 900, 100000. This growth is at
|tributed to the increase in the wages
Iof workers and the impetus to the
habit Of saving.
Great Britain-Within approx
mately the same period, the depos
its of the London Banks increased
over $1,700, 600, 900; while all the
"a banks of Finland, with their
branches report an increase of de-
|posits in 1917 alone of about ST.
900, ,000, 900.
New York State-The State Su
Iperintendent of Banks in New YORK
State reports that the Savings Banks
of the State report the total amount
to the credit Of Savings depOsitors
on January /, 1918, about $4,000, :
900 greater than on the same date
Iof 1917. Moreover the number Of
ldepositors had increased 42,S00.
The impression has prevailed i'll
some quarters that money subscrit-
ed for war purposes was being vita
drawn from the interior and pileo
|up in the banks of the North or East.
The Comptroller's report for De-
|cember 8 1,1917, shows that the de-
posits of the National Banks of New
York, Massachusetts and Pennsylva
MIA decreased $4,000 from
November 20, 1917, to December 81
1917, while the aggregate deposits
of the National Banks in all other
States inreased $6,395,OO0.
Bankers everywhere should dis
miss their fears Of shrinkage of de-
posits during a period OF enormous
business expansion. Two cannot gr
together.
Confidence in the new banking
machinery has prevented the only
kind of deposit shrinkage which
would warrant any fear-that is,
withdrawal and boarding by panicky
depositors.
Banks should therefore give ev-
cry possible encouragement to depos-
itors Of every kind, big and little, to
buy Liberty Bonds. II necessary to
borrow in order to buy, borrowing
for any reasonable period should b,
Encouraged, to be paid back out Of