The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-01-01
BANKS SHOW GROWTH
IN RESOURCES DURING
THE YEAR JUST ENDED
BY WILLIAM r. sANsoRN

u16 ] 0Etk WV
BY WILLIAM n. sANBoRN
The latest government compilation
of national bank statistics, dating from
Feb. 1874 to June 80. 1919, Is most
impressive document. This compila-
ton deals with National banks, ex-
clusively, but it Is fair to conclude
that the state banks and trust COM
panies have shared as largely in this
growth in resources, and that all are
equally prosperous, according to loca-
ton and character of management.
There are a vast array OF trust, saw
ings and state financial institutions,
some of them ranking with the largest
banking concerns in the entire coun-
try. and these are also the depositaries
of billions of money.
The record in review shows that In
Feb, 1874, the combined resources OF
all our National banks were but
81. sos. sol, 900, and the total deposits
only $795, 900. During the inter
yening 40 years up to JAM, 1914, de-
posits mounted to $S,393,372,000, and
the total resources to $11,296, 353,O0O.
What has happened in the last ~
years, or from jan, 1914, to June ~,
1919? On the latter date our Nat1onai
banks held almost exactly 16 billions
of deposits, and had total resources OF
close to 81 billion dollars. OF the later
sum s2,36s, Ats, 900 formed the capital,
surplus and undivided profits Of the
combined institutions, to which cash
assets are to be added realty holdings
and other valuables Of the various
banks.
A Wonderful Growth.
profits of our National bank system on
July l, 1919, exceeded by BIB million
dollars the amount Of this total IN
Ian 1914. The increase in total re-
sources of the National banks from
JAM. 1914, to July /, 1919, was 91a
billions. or about 16 million dollars
more than the increase shown in the
entire 40-year period prior to January
1914.
The tremendous demand for liquid
capital caused by the world war, LED
to vast imitation of the money ana
credit instruments of every nation. IN
America, the institution OF the F'eoerai
Reserve banking system as center
for credits ard rediscounts has had
most beneficial and stahilizing effect
It's air of solidity and permanence
jnspires confidence. There is reel
ing that. regardless of the trend IN
nrices. whatever labor troubles may or
may not develop, or whether the crop
wears be lean or fat. one thing seems
to be finally assured: There will al
WAYS be currency enough to go round
The money of the country can never
again be cornered or locked up Ihere
are to be no more financial pan1cs, nc
op
cause the financial magnates have
forcod dollars to a premium, to the
depreciation of all else but gold ana
currency.
The ship OF American finance now
floats on an even keel: nor does II
apnear that any economic storm can
ever again seriously disturb It's pcise
and balance. What is to happen &c
rore;gn money values ard TO rates OF
exchange. measured in dollars, is moi
IN affect our circulation, here at home
We are always to have every dolal
needed for every legitimate demand
hacked hy surplus reserve, instantly
available for all our requirements:
The realization OF this conditior
lends hone and courage. 1t lnsnlre'
confidence 70 venture and accomplish
in every field Of needed activity ana
legitimate production.
OUR CITY BANKS.
The bankers of Richmond are un
animouslv reportine large increases II
resources during 1919, and saflsrac
tory business from every angie. IN
hanks have been prosperous hecaus
richmond has been prosperous an
because all Of the people within thl
financial and trading radius have MAJ
,oora nancy to sDend. and to save