The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-26
PUT EVERYDOLLAR
OVER HERE TO WORK
W. P. G. Harding Makes Plea
TO Americans in Fourth Lib
crty Loan Drive.
-
BRING OUT THE H0ARDS
Lessons Of War Are Pointed
Out bye. II. Sabin to Bank
ers' Convention.
BRING OUT THE HOARDS
spscidl DESPATCH 10 THr suS.

Special Despatch 10 THr suS.
CHICAGO, Sept. rs. - Mobilization Of
Americas resources in one cooperative
whole so as TO drive harder on to VIC
tory in the war was the dominant theme
on which the gamut was run at to-day's
SESSIONS of the American Bankers Asso-
cation. marking the third day of it's
,orty-fourth annual convention. Ma
tonal masters of finance called upon the
more than 1000 delegates, representative
OF every State and Territory, to bend
every effort toward Fastening the mar
,haliing OF "every fighting dollar on
the battle front here at home.
Foremost OF these field marshals of
American banking and industry was w.
+ G. Harding, governor of the Federal
Reserve Board. He asked for q. O00, 900
'yolunteers" from Ansarica's citizenship
10 the impending fourth Liberty Loan.
This would mean an increase of S.000.-
600 over the 100000 subscribers to
Uncle Sans last call. He urged, too.
the mobilization OF all gold coin and
gold certificates in Federal reserve
banks. estimating that 5000. 0oO. 900 now
is boarded or lying idle in bank vaults
or private hiding places.
Put every dollar over here to work
and We will win all the quicker the Prus-
san-erasing victory over there" was his
adjuraton to the whole nation. He
branded as downright German propa-
ganda the report that the Government
Conkmplates the confiscation OF bank
deposits.
herman lying" was his terse dis
posal of this yarn. at goes without say
ing that the Government intends nothing
o. this sort; but II does urge putting all
money on deposit where 1t can work or
investment in War Savings Stamps or
Liberty bonds"
Demand for Nationwide Saving.
Demand for nationwide saving was
made. too. by J. Elwood Cox OF North
Carolina, president of the national bank
section OF the association. Men and
women OF America, he declared. should
Increase the nations savings during the
ensuing year from So, 600, 000. 900 to SEA
100000, 200, and use this increase of
$4,000, 100000 toward the war guns by
paying taxes and buying Liberty bonds.
We car do it, he asserted, amid
storm OF cheering. We've pledged every
ounce Of energy and every dollar TO the
cause Of justice and freedom. To nut
over a greater savings victory We have
10000. 600 OF the best people on earth,
1880 900, goo, 900 and more in resources
and an annual income beyond $50. 0O0.-
100000. Put over this savings campaign
and we bring all the nearer the smash
Ing Of the Boche."
Charles H. Sabin. president OF the
Guaranty Trust Company of New York
made an effective speech on Banking
Evolution He said in partI
War has taught us many lessons. but
probably the most beneficial is the
knowledge it has given US of the value
~ c0o3eration. Personal interests have
been subserved to the one great purpose
a. winning the war, and this has been
true particularly in the field of finance.
Bankers have cooperated among them
Ee.vss. with the Government and with
ths nuhlic, with the result that the Gov
eminent has been enabled to raise APP
Fortunately $4,000. 900, 900 from taxa
ton and the sale of Liberty bonds with
out serious disturbance of the money
market
TO nee; the demands OF war and the
demands of peace every possible step
toward strengthening our financial sys-
TEN ard increasing the efficiency of its
cperatior should be taken. In consider
inr any changes due care must be taken
70 assure ourselves that some loss may
mt onst the proposed gain. For in
stance, in the logical expansion of ma
touHl banking II is most essential that
Tho tights and functions OF State insti-
'4lious be not harmfully disturbed. At
leas, until that time in our financial
progress has been reached when a thor
olEhly comprehensive and centralized
banking system has been thought out
and worked out the rights Of all classes
o. banks must be zeslously guarded and
70 encroachments on those rights in be-
half of any special interest permitted.
Mindful of this necessity an impor-
tart conference OF representatives OF
State banks was held at St Louis on
July ! = last Out of this altering an
organization was effected representing at
the start thirty States, with cooperation
ss It's keynote for the purpose of con-
serving and protecting those local priv
ieEss and interests which have been de-
vel1r,ed and become inherent in State
financial institutions 1t was the out
come o. a realization OF the necessity for
me fullest extension Of the service OF
both the national and State bank sys-
rms, and It's intention is to cooperate
win national banks and the Federal Re-
Serve Board to promote safe and sound
banking 70 assist in financing the war,
IN Developing our natural resources, and
N extending our commerce.