Evening star., 1923-04-29
BY I. A. FLEMING.

Bankers of Richmond, according to
Earl Amick, assistant cashier OF the
Riggs National Bank. are working in
harmonious unity in the matter OIL
maintaining credit bureau. the kind
of information a banker most needs
10 prevent overborrowing and some
thing long contemplated but never
PUT across in this city.
It is possible for any banker in
Richmond presumably all belonging
to the system, to obtain information
ar any time within business hours
as to the total borrowings Of any
one man, corporation or firm in short
order
Just what the information thus
furnished to the Richmond banker
would be worth If il was available
with reference to the total borrow
ing of WaShngton's business com
munity may be imagined in the prop
able savings that might have been
made in Il very few instances re-
called.
The Richmond bureau will not item
ize the borrowings for customer.
hut it will aggregate the total and
give them to the bank in that way.
I'm cmploye. maintaining an ONCE,
where the information is sent in as
fast as credits are opened and con.
tinued with each new borrower ana
repeated with each new loan and ad-
vised as to liquidation of loans.
That's the story in a nutshell.
No one knows how the loans are
distributed as to lending banks but
The trusted employe.
After all. as simple credit struc-
ture as any banker could desire and
ono that is at once brake on eN-
ressive borrowing and putting over
any fake stories as to loans out
Ntanding.
Each year at the District Bankers
association convention it is discuss
rd-and all it takes TO work 1t is a
little common sense and a little trust
OF your neighhoring banker.
Here is a good hint to the pro
yention-get Richmond man to drop
down and tell the story of the way
The system is worked-the technicai
side Of the scheme.
If from the convention this year
some such movement should be orig
mated it would be cause of con
graduation. II all of the banks VIII
not agree it would be splendid il a
few did. Try II for a starter
Bankers Convention.
Naturally with the convention stlfl
fifty days. more or less away. it is not
AN easy matter to keep up active IN
tcrest in the gathering
This does not mean, however, tnat
there is the slightest chance OF the
affair being anything but great
success The annual conventions have
been getting better and better each
year from the first one held at Deer
Park under difficulties. but at that an
interesting gathering.
The keeneSt satisfaction was eX-
pressed by the bankers and their
friends at the last convention, both
at the success of the program proper
and the social features. while the sat
IT, ty,Cp n
hotel is evidenced by the intent to
return this year.
Some Of the leading bankers of the
city, who have not heretofore honored
the annual conventions with their
presence have signifled their inten-
tion of attending.
1t will be great convention. Pub
licity work need not be started before
June !.
The Good Enough Suggestion.
Commenting on the suggestion made
hy Frederick G. Goodenough, London
banker at the American Bankers AS
Sociation council meeting on NedneS.
day last. viz. that notes be accepted
from Germany. indorsed by the ma
tions accepting and then marketed
as a means of putting Germany on
her feet the Wall Street Journal has
This to say: His loan plan for Ger
many. however in view OF the worth
Iessness of any German pledge, may
lie dlSnllSSeu dS lHlpOSSipie. otiii iiioA y
il is unnecessary.
"Ry the remorSeleSS depreciation OF
the German mark Germany mas eX-
tinguished all internal debts The
imperial government IS IN a positioii
to cancel its bonds. payable In marks,
with d truckload of worthless paper.
Every German state government can
do the same. In like manner every
,;erman municipality is out OF dept
and this is merely the beginning of IT.
Every public utility corporation and
Industrial company is free from debt.
Paper money does not mean pank-
ruptcy in the sense of ina abilfty to pay
external loans. with a bankrupt suf-
ficientIy unprincipaled. The nation
is II bankrupt
Garry it further Every farm in
Germany is free from debt. The
farmer can wipe out his mortgage
with seven quarts of milk.
Where are the eXtinguished saw
!ugs of the nation gone? Into tanEi-
hle things. Not a factory. not dock
not bank, not d shipping company
has failed to add to its plant. all AT
the expense of invested savings. The
income relied upon for old age has
vanished. That class is destitute
Germany is not destitute. She was
demnity should be collected if the
French have to go to Hamburg and
Bremen to get it.
wouldn't Ii Be q Mess!
II is unfortunate that the appeal
from the decision of the supreme
COURT of Missouri, in re. to brancf
banking, had not been an appeal from
some state where state institutions
were permitted to do branch banking
Just imagine that this Missouri ap-
peal is sustained; just imagine, II
you can, that the edict has gone forth
that branch banking. state ana ma
ticnal. was at an end. Wouldn't II
he a pretty mess?
Not alone in Washington, put al
over the country.
The Chatham and Phoenix of New
York and the Bank Of Italy. in Cali
fornia. would have the hardest time
Each has scores of branches, one ir
New York from the Battery to Har
lem. and the others up and down TIT
coast line of California.
In Washington 1t would be an cas-!
matter. 1t would seem to be a cas-
OF owning corporations quickly or
ganizing separate companies TO taxi
over the branches and make the bes
possibie uses of them. There woult
he no trouble doing this with some o
the branches, but there are other
that it might be hard to carry OIL
with. Each bank would have to hav,
a special name and another set of of
tcers. prepared to do all branches Q
hanking.
The branch fever in Washington
seems to be dying down-not througl
lack of desire to operate, but by rea
son of the heavy overhead:
OF the permits applied for an
granted for the opening of branche
on Connecticut avenue recently bu
one hank has gone so FAR as to nav
actually opened-the Franklin Ma
The Lincoln National o1ficials ar
still considering the pros and cons