The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1919-01-22
NAT IONAL BANKS
REPORT 1878 As
BANNER YEAR
Notwithstanding War. Earn
ings Exceed ANY Other Year
NUMBER HAS INCREASED
There Has Been An Amazing Growth
in Number of Banks in America
- Since 1900.
NUMBER HAS INCREASED

fiscal wear ending October 81, 1913,
which, in accordance with Section 5S5
of the Revised Statutes Of the United
States. was yesterday afternoon sub
mitted to the Congress.
This Report covers the iith year OF
the present Comptroller's term OF
office. Under the law the term OF the
Comptroller Of the Currency is hveI
wears. Comptroller Williams term
began February 8. 1914
The Comptroller reviews the actiyi
ties Of the national banks during the
period of the war He says the de-
mands upon the capital and banking
resources Of the country have been
unparalleled, and that the financial
strain upon us would have wrecked
and crumbled any financial system
not founded on sound economic laws
and governed by conservative and
established principles OF finance, and
no system, however meritorious,
could have survived such strain had
not its component parts been operat-I
ed and directed by men OF character
and experience willing and able toI
rise to the supreme demands OF the
hou:.
Through these trials and tests :.
saws he, "the national banks OF the
country and our Federal Reserve sys.I
tom have passed triumphanflv Their
resources have riseL ---.-ysry uu'fhs
this period OF stress and strain - the
highest figures ever attained. the ma.
tional bank RESOURCES on November
i. 1918, being $19,S21 ,i0A0O0.
During the past cir tee, months
this country has raised through hond
issues an amount more than six times
as great as was raised during the four
years of the Civil War, ard largely
al rates of interest not oAc half as
high as those paid during that period.
The Comptroller shows that OF the
sl7. 600 900 600 OF Liberty Bonds
placed more than eight and half
billion dollars, or 0. 6 per cent, were
marketed through the instrumenlaliiy
of the national banks.
First. The resources Of the nation
al banks have now attained figures
never before approximated
Second. Although the volume OF
business transacted throughout the
country has been unprecedented, and
demands for capital greater than ever
before; yet throughout the year mo-
ney rates have been maintained in
every section of the country on u
normal basis aud every legitimate in
dustry has been enabled to obtain
funds needed for its operation at IA.
vorable rates
Third. The usurious and eXorhi'
tant rates formerly charged in re-
mote districts have been steadily sub
siding. Complaints of nsury are few
er than ever before.
Fourth. The banks have been OBJ
serving more closely the provisions
of the national banking act and the
rules and regulations of the Com
troller's Office.
Fifth Coincidently with the clos
or adherence to the law the earnings
of the national banks, both gross and
net. have exceeded those Of any prev
ious year.
Sixth. Despite the strain and un
usual demand upon the banks in the
calendar year 1918. there was no fail
ure of any national bank throughout
E the entire country east OF the Rocky
Mountains, and in the entire country
only one natinal bank failure. a smal
bank in California. In the fiscal yeal
ending Nov. l. 1918. among STATE
banks, private banks and trust com
panies there were 32 failures in /
states.
Seventh. The growth in the re
sources of the national banks IN tn
past five years has been greater THAI
the increase which took place durin
the preceding twenty-five years
Their assets now exceed by NOR
than one billion dollars the combine
resources of all state banks. savin
banks reporting private banks an
trust companies of the country a
late as Juno, 1916.
Eighth Although the nationg
banks Of the country placed betwee
May, 1917, and November l, 1918, ia
themselves and their customers NOR
than $500 100000 of Liberty Bond
yet the records show that the d
posts of the national banks actual
increased between May /, 1917. an
November /. 1918, by Sl,975S76,000
The compirollers report show
that in the panic year OF 1898 thel
were los national bank suspension
with liabilities of more han so m
lion dollars. IN the FIRST year of WI
from April I. 1917. to April I, ial
there we're only four national bar
suspensions with liabilities of abo
SSOO,OOO. Percentage OF the liahi
Ties OF failed banks in 1899 to tot
liabilities OF all national banks
2.3g per cent
The records show that since 1900
total of 2,7i3 state banks aud nriva
banks have converted into or RET
ganized ns national banks, the tol
capital of the state banks thus g,