The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1919-07-08
N. RE|NHART TELLS
Of BANK PROBLEMS
Continued from Page One)

the world has eve know And NV
we are facing the problems OF peace.
The events of the past four years
have not only changed the map os
Europe but they have changed the
trend of thought throughout the orlo
The bankers of the countr. have every
reason to feel proud If the services
which they have rendered 10 their
country during this grca; war Our
brave boys who fell on the battle
field. the millions of mca who were
ready to lay down their lives If nee
essary, deserve a place in our hearts
which time car never remove. but
these boys did not do all {, win the
war, there were heroes in this country
who contributed nob's tn the cause
those who furnished The money the
supplies and the labor without which
this great war never ,cuiu have been
won. They were the bankers AID tie
business men and the n I1rers Of the
country who gave those tnIasS which
we're necessary to bring this great
struggle to such a successful concln-
sion. And when the full history OF
our participation in this great war is
written, some of its brtgLtca pages
will record the patriotism of The bank
ers and business men who gave 20
4 froaIv thnun thtno0 nnnnCClFv IN
properly equip our great nation to
enable them 10 win the war.
am very glad to be able TO say
now that we are on the Threshold of
of a peaceful era; that the outlook in
general in our country is exceedingly
bright. With easy money and enor-
nous industrial facilities. with one
third of the gold in the world and a
relative small wal debt, against assets
of more than $3.50. 000, 900 900 our situa-
ton seems to me to be more than
satisfactory.
I'm a short time We are to have an
extra session of congress at which
time many of our domestic and inter-
national problems will be considered
by our representatives in Washington,
one of them being the railroad ques-
tion which we hope will soon be salts
factorily solved and these great prop
critics will be put under operation of
their owners again so as to become
active factors in the development OF
the country.
With the expansion of our foreign
trade there has already arisen the
necessity for the enlargement OF our
banking facilities evidenced by the
fact that the incorporated banks OF
the United States have already estab-
lished in foreign countries 127 branch
es and 1t is safe to predict that in a
few years our American banks will
be as well known In the leading cities
of foreign countries as the long estab-
lished branches of European banking
houses, and the dollar exchange will
play a most important part in financ-
ing the trade of the world.
The balance of trade in favor OF
this country since the beginning II
the war amounts to more than $780,
000, 900. 900 and has turned us from the
debtor to a creditor nation. This has
brought us face TO face with new
problems. We shall find in the near
future greater difficulty in sustaining
our exports at anything like they are
at present on account of the increas-
ing difficulty foreign nations are hav-
ing in meeting their payments for pur-
chases made in this country"
Some very prominent bankers Of
California were present at the meet.
ing and the state banks were vel
represented although the attendance
was not as large as last year.
> f. n. Fletcher. secretary of the Ne,
vada tax commission, spoke at length
, on the subject of taxation In this state
and brought u many facts Of pecu
liar interest to bankers.
Following the meeting and thu
luncheon at the Century Club th'
bankers enjoyed the rodeo and wer,
entertained al S~tingaree Gulch in tn
evening. 1t was the ninth convention
y of the organization