The Ocala banner., 1922-05-12
Can ana onone De vp
ONLIuCCCII Created y fOtcu " 0oy

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Gus sum of thirty millions of dop...
deposits There was not a bank in ~
United States at that time. outside ~ na
York city. that had ten millions ~ =
posits. There was not bank in Ros,s-
at that time that had five millions ~ -
posits. / discovered by reading = -
this morning in Birmingham that the r..
National Bank OF Birmingham has nes.,s
as much deposits now as the greatest MI
in the United States in 1894 Nov :
New York city we have the Nationa1 rr.4
Bank with one hundred million dollars !.
capital and surplus. three and a th;ss
times as much as the total deposits ~ ~
largest bank in the United States g..
years ago. Now that bank has six hnnS
red million dollars of deposits. four t;ra.
as much deposits as all the banks in ~
South had combined in 1850. Now fbs
banks in New York city today have ~
posts of FIVE billion. four hundred ana
ninety-three million dollars. twice the a.
pesits of all the banks in the Init,
states in 1890. And today in this erest
country the total deposits of all the banks
amount to thirty-six billion dollars with
forty-three billions of banking resournas
Is ii not marvellous: Is il not wonferfu,g
And the Federal Reserve Bank of tha
United States itself has three billion dol.
lars OF gold in its vaults. with onlv ,va
billion dollars of federal reserve notes ont
standing. so that for every dollar of fed
eral reserve notes outstanding there i
ore dollar and half in gold back of 4
A condition unprecedented in the historv
of any nation. As representing the stu.
pendous amount OF business done in this
country last year il is only necessary IA
call your attention to the fact that the
turnover in dollars and cents of the Fed
eral Reserve Bank operations Alma
amounted to the staggering sum of four
hundred and ninaty-three billions of dol.
lars. year ago the Federal Reserve
Bank had two billions of gold and three
billions of federal reserve notes Outstand,
ing so that in one year the Federal Re-
serve Bank has increased its gold hold.
ings 4 billion and reduced the federal re.
serTe notes outstanding billion. thus rep
resenting the liquidation of the indebted
iiess of the merchants and manufactures
of this country TO that extent which is an
improvement in financial way unpreced-
ented in the history Of any nation.
The Story of stupendous Progress
When you talk about figures in this
country you become dazed: but, II you
will permit me, l will read some few fE.
ures:
The steam railroad mileage has ii.
creased from fifty-three thousand miles in
1870 to two hundred and fifty-four thou
sand miles in 1921 showing a growth Of
nearly four hundred per cent The gross
revenues of the railroads in 1915 were
two billion. eight hundred and seventy-One
million: the gross revenues in 1921 were
in excess of six billion. Right here LET
me remind you that the wages paid out
TO the employees of the railroads today
amount to two billion. eight hundred mil
lion dollars which Is equal to the sum Of
the gross receipts of the railroads of this
country in 1915 Railroad freight tonnage
went uD from one hundred and forty-0ne
billion tons one mile in 1900. to three
hundred and twenty-four billion tons In
1921
The population of the United States, has
increased from 1870 to the present time
from thirty-eight million to one hundred
and ten million.
The national wealth has expanded from
thirty billions of dollars to three hundred
billions of dollars: the money in circula-
tion from six hundred and seventysx
millions 10 in excess of six billion; the
value of farm animals from one billion.
five hundred million. 10 nine billion; wheat
and corn from billion and a quarter
bushels together. TO four billions Of
bushels: cotton from four million bales 70
twelve million bales; coal from twenty
nine million tons to five hundred ana sew
enty-six million tons: petroleum from Two
hundred and twenty-one million gallons 70
eighteen billion six hundred million ga.
Ions: and steel from sixty-eight Thousand
tons to thirty-four million tons. Manu-
featuring materials have increased from
one billion dollars of value 70 fourteen
billions in 1914 even. And the value o.
other finished products from less inah
two billions to more than twenty y-four oli-
lions of dollars. In 1860 the assessed
value of property in the entire Unltea
States was only twelve billion and eignV
four million; and in 1920 property SUD
iect to general taxation in the SCUM
alone was assessed at twenty-nire billions.
which is twelve billions more than the en-
tire assessed value of al the properly 81
the United States in 1880. In 1850 tne
total value of the farm products oil 'ns
United States was two billion. two nun
dred and twelve million; and in 1871 sns
value of the South's farm products. WIN
all of its depression was in excess OF eisAs
billion.
We talk about the Genoa conference We
want to know what we are going 70 y
with the export trade. We do not tninz
Last year. when everybody was pes1
mistic. this country did an export ana 10
port business of eight billions OF ooila-s
The exports of this country last year "es
two billion dollars in excess OF the IN
ports. They were three billion dollars =
1920: but because of the reduction =
prices the exchange Of commodities Na
about the same For instance. there Ns.s
three hundred and fourteen thousand Dass
of cotton more exported in 1921 tnan =
1920: but the people of this country =
ceived six hundred million dollars less -.
so on Do you know that in 1919.
last normal year. the import ana eAp
business in that year amounted 70 oA1
four and a third billions OF dollars :.
against eight billions last year. ana Wa
the excess of the exports over our -.
ports in 1914 was only three hunafea -
lions of dollars as against two pnnon
last year7 Do you know there never -
been time from 1914 back when the -
cess of exports in this country over
imports exceeded six hundred millions ..s..ss =
dollarss Last year they were two Dal...-s Dlss.s
OF dollars and everybody going alo.
with pessimistic face wondering nov
were going to restore our export tt
Do you know that in March Of the pie1-
year the exports of this country a. e
pared to March of 1914 were double -
the imports nearly so? In March OF -
the excess of exports over imports 10 la.~
OF this country was only three millo.
whereas in this March they were sessh@
two millions
wealth and Extrayagance TO Wonau
AS representing the sheer extraEas =
wonderful wealth of this country. e'