The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1922-01-18
CAROLINA
BANKS STOOD
THE TEST
State Bank Examiner
Craig Reviews the
Financial Situation
in This State

Columbia. Jan. l3.-lnc man
ner in which the banks Of the
State have WithStood the strain of
dcflation and failing crops has
been nothing short Of marvellous,
said James n. Craig. State Bank
Examiner today in discussing the
financial situation IN South Caro-
Ina. Very few Of the banks have
closed thcr doors permanently, he
said commenting on the close CO.
operation Of the people with their
lidutiary institutions, many Of the
dcpositors agreeing to leave their
money in banks for twelve months
to insure their solvency.
Such endorsements as our
banks have experienced, he said.
have been mainly due to inability
to realize upon loans. While gen.
eral!:' speaking, these loans. l be-
licve will be. collcctibla, many Of
them are necessarily slow. Given
time. however, there is no reason
to be pcssimistic Of the outcome.
Our people arc inherently honest
and they will meet changing agri-
cultural conditions with new yea:
and determination and rcestablish
the financial status OF our State as
comparatively first in agricultural
production.
Continuing. Mr.. Craig said:
That we have passed through
most Of the depressing conditions
with our banking institutions still
practically intact. gives US strength
70 begin the struggle Of the new
year We need not shut our eyes
TO the fact that the present year
will be fraught with serious diff
cultieS. which will require all the
Skill and energy Of our best flnan-
cicrs to meet and overcome. Crop
divers;fication has at last been
forced upon cur aSriculturalists,
which will require the usual eX-
pcrimental periods Of growing and
marketing .untricd crops, but in the
end we will produce other paying
crops than Gotten and we will also
continue to produce cotton. This
has been anticipated. and already
steps are being taken to bridge the
necessary period OF agricultural re-
ad djuStment. The most potent fac
tor to this end is the War Finance
Corporation. which operating
through our banks is extending
needed credits. In this connection
it should be added that cor
responding banks. within and with
out our States have been most lib
eral in extending needed credits.
"In view of these facts. we lock
confidently TO the future. with sue
ccsScs OF the past as an earnest OF
what wc can do by stint Of un-
flinchinG determination and pub
lice spirit Of cooperation.
1T should be added that banks
are just as strong as the CONT
dence of their patrons make them.
Our problems are not merely
problems Of the financiers. but arc
us we'll. problems Of the people.
The man who withholds his de-
posits from the banks is working
to his own dctrimcnt. as we'll as
the dctrincnt of his state. Con-
ridcncc is ,hc keynote Of business.
it is the substructurc of banking.
and banking is the soul OF business
Destroy confidence and you de-
stroy lan!ting and hence DESTROY
business. The IniS"r who hides
away his savings in n niche in the
wall. not only robs business. but
actually rob himself rs he is with
drawing from business that pro-
,luctinn. which contributes TO the
prosperity Of the whole.