Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-04-20
An Encouraging Note

DlSllNClLt refreshing nOte OIL op-
~ timism runs through the address OF
d. II. Crissinger, new Comptroller OF the
Currency, delivered last night before tho
Louisiana bankers at New Orleans. Mr..
Crissinger is no extremist. He expects bust
ness recovery to be slow. The underlying
causes of the recent decentralization are
too deep and far-reaching to be overcome
overnight or by virtue Of any financial pan
acea. Scars caused by wars commissions
need more than a few weeks or months for
their crasure But Mr.. Crissnger can see
no reason why business should not pro-
gress surely and steadily and with acceler-
ating speed from this time forward.
1t is reassuring, too. to note that the new
comptroler's views of the banks as the help
full advisers and servants of their respective
communities are almost identical with
those held by the man he succeeded and as
an ex-ofticio member of the Federal Reserve
Board, ii is certain that he will lend his
influence toward easing of the credit sit
uation in Il manner that is at once liberal
and in keeping with sound banking principles.
His sympathy is with the farmers and with
any essential industry that stands in need
OF wise and conservative financial aid In
this connection the comptroller says:
The national credit reservoir is still
rnny s4 orat is enps ba s Of
tina, how away from !; can he certain
and '' the %" re,nrninr sha, ' which has
been Withdrawn, That is all we need
withdrawas from it shall be for use
! 1Hl; reproHnc,ives' supporting burmese .na;a
world. and there is good cheer for us
the necessity to conserve, TO utilize,
to save its resources.
That bears with it ring rather different
from statements we have been hearing from
high financial sources during the last two
years when the great agricultural and in
dustrial interests have been all but forced
TO the wall through failure to obtain credit
for their legitimate undertakings, while the
peoples money flowed to Wall Street The
fault has not been with the banks. but in
the working of the financial system, and IL
the new comptrolle-s views reflect those
OF the administration, he will accomplish
much toward the restoration OF the local
banks as the credit reservoirs OF the COM
munities, with whom in general the decision
in extending or refusing credit reposes.
The comptroller knows that the difficult
ties have not all been surmounted, that ma
tonal thrift is still necessary to n proper
solution of the national problem, and he
gives this sage advice to the banks:
service OF Ts every 70 banker f one sery Ssnar
man. farmer. WORKER cap rtinnts
every inteIigcnt person in America
IL would be TO incucatc the ideals of
thrift and prudence and saving.
This is time in which banks have
opportunity TO render supreme
i|e TO ihe community. Through them
the small surpluses of capital may he
drawn together; bits that in them
selves would be Of no practical use for
financing the countrys business and
yet that. IL heaned together in the
form OF bank deposits, would repre-
sent the difference between ample
capital and financial shortage; he
tween tight money and easy money,
between business depression and buSi-
activity.
That is a sound suggestion from high
source.