The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1922-01-18
CRESIlQCER holds
WORLD ECONOMICS
FOR MONEY STATE
Lack of Credit Funda-
mental Difficulty, He
Tells Civilian Club.
OTHER LOCAL NOTES
Baum Made Vice President.
American Security and Num-
sey Add New Directors.

The worlds economic situation
and not world finances is back Of
the badly muddled worlds money
situation, Comptroller Of the Cur
rency d. r. Crissinger declared at
the bi-weekfy luncheon of, the
Washington Civilian Club yesterday.
An abundance Of money but no
credit is the fundamental difficulty
confronting US today, he said.
The bank balances OF the coun-
try districts coming under his sur
VIGILANCE. Mr.. Crissinger said, indi-
Gated that so per cent OF the people
OF the United States were deprived
of their buying power. This per-
centage is comprised. in the main,
Of those farmers who are depend
ent on natural sources for the
things that come to them to sup
port their families. All wealth in
financial analysis must come from
the soil, according to the comp
troller.
pne way to solve this economic
problem is to trade more among
ourselves. Trade is most essential
to money making. and without IT
we could not prosper, II was pointed
out. However great the accumula-
ton Of gold might be, 1t becomes
burden just as soon as IL Is al
lowed to remain idle. In this state
IL is as useless as the mlsers'
hoardings.
Commenting on the confident
broadcast belief that we are q pow
erful nation and can rely on our
selves If ever need be. Mr.. Girls
singer urged that this idea be COM
batted to the fullest extent, stating
that a realization of this theory
would Immediately put out OF COM
mission 10 per cent Of our indus
tries.
In concluding his remarks. the
comptroller stated that however
sorely we may be stressed. we still,
under the Stars and Stripes. are
the people that are best situated
OF all the people in the world
Mount Vernon Bank Election.
William r. Baum, cashier. was
elected to the vice presidency OF
the institution. in addition to the
ofice he now holds. at the annual
meeting Of stockholders of that
institution yesterday. Other on
GERS were reelected
American Security and Trust Co.
At the annual meeting OF share
holders Of the American Security
and Trust Company held yesterday.
J. p. Hermann. DR.. NJ. G. Gibbs
and William E. shannon were added
to the directorate. Immediately
n
the following officers for the en-
suing year: Charles ]. Bell. presi-
dent: Corcoran Thorn, Howard s.
Reside, B. F. Saul and Howard
Moran. vice presidents: James f.
Hood. secretary; Charles e. Howe,
treasurer: Alfred r. Leet. trust Of
fcer: William L. Beale. real estate
officer: John G. Holden. auditor:
Alfred c. Flathsr. manager new
business department: Martin r.
West and James c. Dulin. jr.. as
sIstant secretaries: David n. Hous-
ton T. Stanley Holland. Kenneth
J.. Brooks and ]. Eliot Moran. as
sistant trust officers: William w.
Keck and John l.. Fugitt. assistant
treasurers. main office: Percy c..
Brady. Edward E. Swan and Hans
W. ireland. assistant treasurers.
central office: Richard Z. Harris.
assistant treasurer. Southwest
branch: Harry P. White. assistant
treasurer. Northeast branch. and
John F. Benton. assistant auditor.
Munsey Trust Company.
At the annual meeting Of stock
holders of the Munsey Trust Com
Rpany held yesterday George w.
Perkins. jr.. and Charles NJ. Har-
wood were added to the directorate
to succeed William Z. McRcynolds.
resigned. and Perry Belmont. who
has taken a permanent residence In
Paris.
At the directors meeting imme-
diately following. p. c. Willis was
installed as assistant treasurer In
addition to his reelection as Sec
rotary.
Philip II Sinclair has resigned as
superintendent OF the Washington
ONCE of the Bradstreet Company to
become associated with the Cleve-
land Discount Company. with offices
at s23 Munsey Building, Washing
ton. ID. c. Mr.. Sinclair Is widely
known in financial and credit
circles of Washington. having been
connected with the Bradstreet Com
pany for twelve years, the last
three as superintendent, in which
capacity he mas been most sue
cessful- The business of the Brad
street Company has grown steadily
during his management. Mr.. Sim
clair has been a member of the
Washington Chamber of Commerce
Rnd also a director of the WASH
ington Association OF Credit Men
for several years.