Evening journal., 1920-05-06

one more peg out Of her condition
Of backwardness.
There is no question about the
solvency OF the state We boast Of
the fact that as a.State. we are well
10 do. This is true, but 10 is true
despite loose, gnscleuuiic and sui
cidal financial methods. How long
our public aqdlts night proceed with
reasonable safety hy such methods
do not know, but II is certainly un-
wise to wait uniil oIir finances are on
the rocks before we 9ttempt 10 estab-
lish them on such a.sOund administra-
tive basis as that II wi not only pc
/ impossible for them to go on the
rocks, but the people Of the State
will be getting The full benefit Of pub
lie revenue and The States financial
records will show her scrupulOus
compliance with financial obligations -
Following the luncheon in the hotel
grill, State Bank Commissioner Medlll
delivered his address on the con-
ditions Of the banking institutions Of
Delaware. saying In part.
During the last ten months my re-
lati0n with the State Banks has been
"a very intimate one, and after care
ful examination into the affairs Of all
Of your institutions, / am glad TO be
able to say 10 you men here today
and TO the people Of the State OF Del
aware. by and for whom the banks
exist, that il is my opinion that the
banking institutions OF Delaware, for
the most part, are conducted in a
careful. safe and conservative man
ner and are worthy OF the confidence
Z reposed in them.
"ln conversation with one Of the
older residents Of lower Delaware re-
Gently, learned that years ago th,
, banks I'm Kent and Sussex at that tim,
1 were two at Dover, one at Smyrna
one at Milford, one at Georgetown ant
{ one at Seaford
3 The figures Of my recent report
i show that In Sussex county there are
i5 state banks with resources Of $40,
y 100000 and national banks Will
: s2,50OOOO making a total for Susse'
OF Si3OOO000.
r IN Kent county there are Z Stat
s banks with resources OF SJ.3S9OOO ant
1 Z national banks with S6,6O0000 max
r ing total of Sii $50 900.
SIN New Castle county there arr
L i3 state banks with resources Of SOB.
Il 2SQO0O and national banks Will
= si3.6i7,000, making total Of Sl6,9Ob,
l. 900.
r "These figures give a total for M
C thirty-five State banks OF Sl9.3ti,OO
l. and for the nineteen national banks o
e s22 III 900.
y "rhe total resources Of all banks j
Delaware are Si02, ,06i ,000
Ie 1.-THE total resources or the Slal
" banks have increased at the rate
1t siOOO0.OO0 each year for the pas
l- three years. This is the natural r'
" suit Of the tremendous growth OF ou
a. agricultural, industrial and commel
~ cia interests.
ct "The annual report required irol
e. the Banking Department should ful
at nish interesting statistics TO those n
TO ierested in these matters, and WI
We nut Delaware on the map with othel
p in respect 10 published Information
ne 20 her banking interests, IN Whlc
ne heretofore. we have fallen short.
Sc "I nnd that the supervision or IT
le building and loan association Is
~ lmportant feature Of the work OF u
u, department. Several Of these insuu
ul tions. | have discovered, nave Dec
pc transacting business without llcen
from The Slate, apparently from a la'
10 ~ knowledge OF the requirements.
De presont there are tWenty-one on "
ns ilsl with assets of approximate
lu 100000
or 'sYour committee at Ms meeting
'dr Sesford. were kind enough 70 FNpr,
OF the thought that the creation OF
ne BANKING department was a wise pl'
re- OF legislation and trust tnat no
ing may happen 10 change that op