The Birmingham age-herald., 1920-12-15
TUSCALOOSA MAN SEES NO REASON
 FOR MONEY WORRY
Rosenau, Financier, Says Banks Are Full of Money and Never Were There So
 Many Savings Accounts

''It would have been better for the country could the pres ent depression have come i'm mediately following the arm. istice," says D. L. Rosenau, a well-known Tuscaloosa capi- talist.
 At that time practically all the busi- ness men and the general public ex- pected a slump and prepared for it. But when business showed an added impetus, when prosperity became even more marked than during the war, peo- pie took 1t for granted the rather wild era of business and the almost universal extravaganza of the people would continue indefinitely.
 NO REASON FOR GLOOM
 There is no reason for much of the gloom which one sees and for much of the calamity talk which one hears. We are merely going through a period of readjustment, which is necessary, and the sooner all business and in- dividuals adapt themselves to the changed conditions the sooner will II
 Surely we in Tuscaloosa are not so unfortunate as people in some other sections. We have about $6,500, 900 deposits in our banks and that does not spell want and suffering. There are more than s2,250.000 in savings deposits alone, and business men know that people with money in savings deposits are in good financial shape and ready to weather any storm. Despite the de- nrG22tnn ht fka rrfAa ~F ten. which will become better in the near future, and in spite of the decline in lumber Tuscaloosa is sitting on the world as the A. F. F. men would say
 BANKS FULL
 "As an indication thnt cOndi-
 tions are sound, although n read
 justment thnt will be unpleasant is
 underway, we should notice thnt
 all the banks of the country have
 the heaviest savings deposits in
 their history. When the individual
 feels the pinch he will begin to
 draw on these savings and most of
 the people are in position to
 weather quite number of rainy
 days. There are several millions
 or dollars i'm cash between want
 and the Tuscaloosa people.
 Tn 1914, the people of Tuscaloosa 'ne the country generally, were not ir good financial condition, the farmers in our sec on had raised nothing but cot. ton; they had not had very prosperous years for some time, and they were in desperate straits when cotton went tc and cents Of course, our business men were in the same condition.
 But now the farmers have had sev. eral very prosperous years, most O them got out of debt and quite a large percentage saved some money Ther almost without exception they hay, raised enough to feed themselves ant their stock. That Is the real reason most of the farmers have held on tt their cotton. They did not owe any on, and could do it, or where they did owe the merchant and the bank were ir much better condition than in 1914, an, 1t was not necessary for them to fore immediate collection of every obliga ton, as had been the case when tn European war started
 HEAVY SAVINGS There is no need for all the pessi mism one hears. We weathered tn, storms of 1907 and 1914 when the coun try was in very bad condition befor. the expressions or panics, as some cal them; now. when conditions are funda mentally sound, when the banks ar, fairiy bulging with money. much of f Tn savings deposits, and when the farm CTS generally have raised enough t, feed themselves and most of them wer, in good condition when the depression started, we should spend our time ad justing our business to meet tn, changed condition and get ready t, start again before long on the upward climb. this time on a firm and san, foundation, and not one of war time in flation."