The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-05-06
STATE RANKS AS
GOOD AS OTHERS
Bank Examiners Report That
Conditions in Florida Are
Best in the Country.
tsx The Associated Press,

WASHINGTON, May 5.-Genera1
Strengthening of the economic machin-
cry for the nation was reported today
to Comptroller Of the Currency Cris~
niger by the twelve chief national bank
examiners reporting the federal re-
serve districts of the country at their
annual meeting here.
In the main the examiners said there
has been notable Improvement in
business conditions throughout the
country together with restored conf
dence and favorable outlook for the
future. The belief was expressed. how
ever, that progress towards normal
conditions would be gradual and not
an overnight accomplishment
In the New York district business
generally shows wholesome trend,
although still depressed in all lines,
according to L. G.. Borden.
''This depressed condition" he said,
lis believed to be still due to our west
ern and southern agricultural situa-
tions, TO taxes, to the still too high
| living costs and to labor costs
| In the New York district he contin-
/ ued, it is hoped that the Genoa con-
ference will be the first step towards
future beneficial conferences which
win prove more economical than po-
litical The proposed soldiers bonus
Legislation, he added, while strongly
condemned, is not having much effect
because of firm faith in President
Harding.
Philadelphia is well on the way TO
recovery. as well as Cleveland and
New England. it was reported.
/ Less favorable reports from the
Richmond district were presented by
w. j. Scheckster.
Enthusiastically, conditions are fair"
he said There is probably less un-
employment than is found in the large
cities. The agricultural situation is
serious but the farmer will be able to
combat the boil weevilwell. The com,
mercial situation in general is fair but
nothing to enthuse over. Financially.
Econditions 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. e. Pole, of the Atlanta district.
"There is little reason to doubt but
what 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 conditions
several years of thrift and hard work
will be necessary before this section
can hope for complete recovery.
Farmers are generally giving at
Itention to diversification of crops and
the cost OF cotton production will be
less than last year. The citrus and
truck crops in Florida have been splen-
did with satisfactory prices and there
fore the situation in that state is
probably the best Of any state in the
Union"
/ Considerably decreased grain on
hand in the Chicago district was re-
ported as well as >avier exports.
sThe morale of the farmer is slowly
returning" John S. Wood OF the st.
Louis district declared.
'aThe increase in prices of grain and
livestock have renewed his hope"
Reviying purchasing power OF the
farmers was reported by Howard NJ.
Sims of the Minneapolis district.
/ kansas City is cover the hill. ac-
cording to Luther X. Roberts. En-
HANGED prices for cattle, he declared
have restored the value Of farmers
| securities and rising values of hogs
and corn are helping conditions meas
urabiy. Cotton conditions are good,
he added, and the outlook generally
most encouraging.
.oThere cannot be an improvement
| under a year." according to Richard
RI. 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
he made. The perpetuity OF small
banks depends on this"
Pacific coast bankers look to inter-
national effort to bring about world