The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-02-05
ENCOURAGING SIGNS

A T q dinner Of bankers held in Albuquerque last week % number
n of facts were brought forth which combine 10 furnish the basis
mcnt m general business conditions IN New McNl'u. The strong state
lueut of Judge Ramsey of the eleventh federal reserve bank at
Dallas In which he gave u cheerful review Of the dark days of the
price collapse, Of the slow but steady restoration and ~ the encour
auiug outlook was alone sufficient 10 furnish new courage aud roufi
dcucc TO ever. producer and every business urn
The pcs.mistic tone, prevalent n public meeting, OF bankers
during the past eighteen months, was wholly lacking m this one and
u its stead q feeling of guarded optimism wa, very evident. The
words pulled through were heard NOR than once The expression
referred to troubles that are in the past
Judge Ramsey showed that three banks IN the district served by
the federal reserve. that - banks had lqudated IN excess of 80 per
cent Of their obligations and that more than fifty banks han retired
ia excess of % per cent. The governor of the III Paso branch showed
the liquidation of over three million dollars OF paper ia the period
from August to January lt. without the sacrifice Of u single
head Of breeding stock 80 a Las Vegas banker referred TO q report
by the Federal Farm Loan bank Of Wichita. showing that Of iNer
four million dollars of federal farm loaas in TIM, state only SisUpO
is delinquent in interest payment. O showing not cqualcd in any
other state in the district served by the Wichita bank. An Al'u-
qucrquc banker referred to tho comparative bank statements Of This
city. showing liquidation Of more than one million dollars of loan,
from june 30 10 December 81, with a total increase in deposits during
the period of a third of a million.
But the most encouraging feauro Of this meeting was the unani
nous expression of confidence in the ability of New Mexico livestock
producers to come back, absorb the losses Of drouth and price col
lapse ard start ahead once more from solid ground.
II required a confidence of this kind, VIII. its "reminiscences, tc
bring home 10 us Just how serious the conditions were during the lat
potential calamity has been successfully locked in the past. II should
lend MS new confidence in our resources and in our resourcefnlness
and new courage 10 step out into the new and better conditions that
ae AT hand. w will be more careful, more conservative. AT least for
some years to come and the result Of trial brayely faced and over
come will be beaefit and added strength.
II is time, beyond doubt, to give over calamity talk, to Danish
doubt and fear and 10 take a firm hold on our affairs, determined to
hasten their return "a a substantial prosperity. IL $ time, certainly,
10 stop finding fault with the other fellow and his system and 20
exert persistent effort to improving our own. II is time 70 cease long
ing for mirac ilous. effortrs rescue from difficulties aud to effect
that rescue, each for himself. with the materials that are now AT
hand and by the only system that ever has worked or that ever viii
work successfully purposeful persistent, individual effort