The Washington herald., 1921-02-08
WILLIAMS SEES
PERIOD OF SOUND
PROSPERITY AHEAD
Comptroller Says Steel,
Iron and Coal Must
Come Down.
BANKS SHOW GAIN
Treasury Reports Indicate En-
during Era of Business
Activity.
CONTINUED FROM PAGE ONE.

activity and business development
it is essential that the prices for
these fundamental products should
come down to a fair, just and nor
NAL basis If We are again to at
tain the prosperity for which we
hope"
Comptroller williams also de-
nounces the practice of New York
banks in fixing interest rates for
the entire country which he declares
are excessive. While conditions are
substantially similar in the United
States and Canada, the price Of
money is decidedly lower in Canada
than in the United States, he as
serts.
National Banks Gain.
The country, according to Mr..
Williams, now has s,157 national
banks in operation or authorized.
This is the highest number ever re-
ported.
Since March 4, 1900" he says,
"2.S2S State banks. trust companies,
and private banks, with capital Of
SlS3. .554,S00, have been converted OF
reorganized as national banks, and
the movement toward nationalism
is progressing steadily. During the
past year 361 new national banks
were chartered.
"On June 80, 1920. there were 20,-
52O,177 deposit accounts in all ma
tional banks. being an increase Of
2.27S.S77 over the previous year.
There is now approximately one de-
post account in the national banks
for every nve OF our population.
Despite the troubles Of the past
year. the national banks have made
the best record in about forty years,
excepting only the year 1919. The
percentage of the capital of failed
banks to the total capital Of all
banks was about .OO2 per cent, or
sixteen times better than the av-
erage for the entire period OF fifty
seven years from the beginning Of
the national banking system.
The national banks in the past
twelve months earned 23.Os per cent
on their total capital and surplus
Net earnings for the year amounted
to s2S2,Os3.ooO. or S4l.717.OoO more
than they ever earned before in any
year"
Over $50, ,ooO, 900 900.
The report shows that the bank
ing power of the United States, as
expressed in the aggregate of CAPT.
tai. surplus. deposits and circulating
notes OF national, State and Fed
eraI Reserve Banks. has reached the
huge total of S5o.sSl, 100000. The
increase over the previous year is
5.225, 10000 Our banking power
is said to be about ten times as
great as n was thirty years ago.
The excess of our exports oveI
imports OF merchandise for the
seven years from 1914 to 1890. in
elusive. amounted to $l954S.2l5,954
according to the Comptroller. OF
this vast credit approximately SlO.-
| 00e. .00O. 900 was the result of loans
by our government to European
countries Payment of $4,000. 000, ,OOC
to $1,000, ,0Oo. .OO0 was made by oUI
debtors who resold to this country
American securities accumulated by
European investors.
Discussing the alleged currency
imitation" the Comptroller asserts
that the proportion of money in
circulation to the total resources
of the banks is now considerably
smaller than before the European
war.
The Comptroller's figures show
that the combined resources Of all
banks in the United States, includ-