Evening journal., 1919-05-01

Specidi 10 Inc Evening Journal.
NEWARK, Del, May i.-Delaware
bankers at their spring meeting being
held at Delaware College today. heard
an optimistic and enllghtening address
by E. Pusey passmore. governor Of the
phnadelphh District Federal Reserve
Rank OF which Delaware is a part. Mr..
passmore told something OF the I'M
mense financial responsibility that the
banks Of the country have been under
since the war started, but which they
have successfully met on every occa-
sion. The Victory Loan. he stated,
should be the most popular OF al The
loans that the government has n0aied
and that we must and VIII see it
through.
About one hundred bankers from
every section OF the State were pres
emit when The morning session Of the
bankers was called 10 order IN Wolf
Han at II o'clock. Dr. Samuel G..
Mitchell. president OF Delaware Coll
iege. welcomed the visitors and John
S. Rossell president OF the Delaware
Bankers Association made The response.
At The business session this morning
the Victory Loan campaign was dis
cussed and an the bankers were ex-
irrmely optimistic as Go The result.
fegins sure that Delaware VIII 20 over
ine tlp by a l8ree Margin the same
She lil- done In an other campaigns
ihai had any connection with the war.
Another matter discussed was tho
act passed by the last legislature Great
iug q State Banking Department sen
araie from the Insurance Department.
9ovenor Townsend Is expected 10 ap-
point ihc Slate Bank Commissioners I'M
der lhis net IN a short time.
AZ noon The bankers were The guests
oi te college at dinner served I'm the
commons. li was following this din
Nef ihdt Alr. Passm0re made his adj
afrss Ilis afternoon n visit viii be
maze 10 ihe Woman's College.
MY fassnore's address was one OF
iAe notable events or ibe meeting. and
he was listened % with marked inter-
est
The period through witch we are
passing = hc said "Is an exceedingly in
ieresilns era n wheh % have lived
and those Of MS who have been fortu-
nate enough 20 have come through n
uuscaihcd will ever look back upon Il
os he groal experience bftour lives.
The breaking loose of the var monster
Of Europe IN The summer of 1914. the
months Of anxiety which followed. with
TIE sinking Of the Iusiiania and other
never-to-be-forgolton ounacos culmi-
mating IN our own declaration OF war
and he marvellous developments on
great American fighting force IN record
breaking time. our actual participation
IN the lighting at lhe 'front.' the unox-
pccicdly early break IN Germany's
strengihsprompily resulting In The sgn-
ing OF the armislice and now the re-
making OF nations In Continental Ei-
rope and the period OF rcadiustmcnt
and restoration at home as we'll rs
abroad, an fraught with tremendous
significance. are oveniful In history
quite beyond complete comprehension.
Those OF us belonging 20 the home
forces and engaged IN The business Of
banking found ourselves for the most
part sailing In en- unchartcd sea. with
problems the scope OF which were fair
~ staggering In their proportions To
the strain OF providing capital fer the
Industries OF the country pressed TO
emergency captciay. with rapidly adj
yancing prices Of labor and raw mate
rials and increased Inventories. was
added the treasury program for fnanc-
ing the war Many bankers were ex-
ceedlngly skepilcsl and could not see
how IL was possible to successfully
meet the combined demands Of deposit
;ors and the nation, but fortunately the
0ptomists We're in the majority and
Without any attempt to prophesy the
outcome, they. with gerat courage and
sublime faith. never hesitated TO bend
.heir energies 10 the great task that
lay before them, in the belief that IL
was our share OF the patriotic duty Of
the hour and would be justified and
was warranted by the tremendous re-
sources Of the country
Banks Backed Government.
loan after loan was offered by the
government and through intense cam
naigns was generously absorbed
through banking agencies by great
mass Of our population. Some $1,000
30 Of subscribers participated in the
fourth drive What happened? Did our
banking Institutions break down under