The herald and news. [volume] (Newberry S.C.) 1903-1937, 1922-05-09
BANK EXAMINERS
SEE IMPROVEMENT
ECONOMIC MACHINERY OF MA
TON STRENGTHENED
Belief Expressed That Progress To-
wards Normal Conditions Will
Be Gradual

strengthening of the economic ma
chinery of the nation was reported
today to Comptroller of the Currency
Crissinger by the IL national bank
examiners representing the II feder-
al districts at their meeting here.
In the main the examiners said
there has been a notable improve
ment in business conditions through
out the country, together with re-
stored cofdence and a favorable out
look for the future. The belief was
expressed, however, that progress to-
wards normal conditions would be
gradual and not an overnight accom-
plishment.
In the New York district business
generally shows a Wholesome trend,
although still depressed in all lines,
according to L. c. Borden.
tinued, it is hoped that the Genoa
sis believed to be still due to our
Western and Southern agricultural
situation, to taxation, to the still too
high living costs and to labor costs. y"
In the New York district, ne con-
tniued, it is hoped that the Genoa
conference will be the first step to-
wards future beneficial conferences
which will prove more economical
than professional.
r The proposed soldier bonus legisla-
ton, e added, "while strongly con-
demncd, is not having much effort be-
cause of firm faith in President Har-
ding"
Philadelphia is we'll on the way to
recovery as we'll as Cleveland and
New England, it was reported.
Less favorable reports from the
Richmond district were presented by
w. ]. Schechter.
"Industrially conditions are far,
he said. "There is probably less un-
employment than is found in the
large cities. The. agricultural situa-
ton is serious, but the farmer will be
able to combat the boil weevil well.
The commercial situation in general
is fair but nothing to enthuse over
Financially conditions are probably
poor but not so much due to cotton
as to bad loans in years gone BY"
Florida conditions are better than
any state in the union, according to
J. W. Pole of the Atlanta district.
s'There is little reason to doubt but
that real prosperity in this district as
we'll as the entire country" he said,
depends largely on restoration of
satisfactory foreign demand, but
even under the most favorable con-
ditions several years of thrift and
hard work will be necessary before
this section can hope for complete re-
covery.
Farmers are generally giving at
tention to diversifcation of crops and
the cost of cotton production will be
less than last year. The citrus and
truck crops in Florida have been
splendid with satisfactory prices and
therefore the situation in that state
is probably the best Of any state in
the union"
Considerable decrease in the grain
on hand in the Chicago district was
reporter as well as heavier exports.
''The morale of the farmer is slow
~ returning John S. Wood of the
st. Louis district declared. "The in
creases in prices of grain and live
stock have renewed his hope
Reviving purchasing power of the
farmers was reported by Howard NJ.
Sims of the Minneapolis district.
Kansas City is "over the hill" ac-
cording to Luther K. Rberts. En-
hanced prices for cattle, he declared,
have restored the value Of farmers
securities and rising values of hogs
and corn are helping conditions meas
urably. Cotton conditions are good,
he added, and the outlook generally
is most encouraging.
There can not be an Improvement
under a year" according to Richard
H. Collier Of the Dallas district, ':and
no great Improvement under two or
three years. Two or three crops have
to be made before Improvement can
be made. The perpetuity of small
banks depends on this
Pacific coast bankers look to inter-
national effort to bring about world
restoration, according to Harry L.
Machen of the San Francisco district