The Cordova daily times., 1923-02-20
OUTLOOK IS
 HEALTHY, SAYS
 COMPTROLLER


 sation of imports of golds into this country and when that point is reached long step will have been taken toward the restoration of a world economic equilibrium, Comp troller Crissinger, of the Currency, declares in his annual report trans mitted today to Congess. This na- tion holds virtually one half of the worlds gold stock, he says, describ- ing the situation as mo less unfor- tunate for us than it is for the other countries to have their stocks so badly depleted"
 Discussing the steady flow of gold to Americas shores, the report de- clares that the "water saturated cur rency" of many countries now has begun to yield to the inevitable pres sure and the more stable money units of other countries are being called in and utilized. Mr. Crissinger regards this situation as "all to the good" and as proof that ''in the end the gold standard will be recognized as the safest, soundest and most reliable that fiscal and economic wisdom has yet devised.'
 The comptroller warns that thought must be given to future condition which may be presented when world gold stocks are again liberated and free to travel about the world i'll equalization of industrial and finan- cial requirements.
 'We have need" he says, ito keep our stocks of gold so well in hand' onr credit so sound, our fabric so z secure that we will be able to meet these demands without shock or jar to the industrial and business con- cerns of the country. It is because we must look forward to the time when we shall have to return our nresent gold holdings to those rom whom in recent years it has come to us, that we must give thought to the importance of having our flnanclal establishment in order and prepared for the demands which will come to it.
 Turning to a discussion of ques- lions of domestic import, the Comp troller declares that the banking ln- stitutions of the country have made satisfactory progress through the per ind of deflation and liquidation that necessarily followed the wartime expansion of credit and lnflatlon The banking system, he says, haS justified the confidence reposed Tn it. although there are some difficult banking questions confronting the conntry. The most difficult of these the comptroller repots, have been produced by the depressed conditions which characterized agriculture Tn the past few years.
 The areas where the bad farming conditions have developed serious banking problems are few ana ap- near only as a slight blemish to the whole fabric of economic improve ment which the comptroller finds existing in most every section of the nation. There has been a gen. eral improvement even in gr1culture' according to the comptroller, but ne notes that betterment in conditions in farming communities have not quite kept pace with improvements in other lines of business and com merce.
 "To state the matter broadly the report goes on, ''it may be said that the development of banking con- ditions within the year, and thelr present status, quite generally and accurately reflect the agrlcultural conditions of the country. That IS, the greatest improvement in bank ing conditions is found in sections where there has been most improve ment in the agricultural, or in those where the general DuSl1lSoo PooA'ioA is least dependent upon the prosper ity and progress of agriculture
 The banking situation, taken as whole, however, is described by the comptroller as filled with "cheer- full prospect" He predicts continued improvement in all phases of agrl- culture with a consequent greater return to profit to those who supply the raw food products of the nation
 Commenting upon conditions as they have developed since the war MT. Crissinger says that it is a rather striking commentary on the unwisdom of many of the most trust ed economic theories that so many of the anticipations which were almost universally entertained during the war have proved to be erroneous.
 He calls attention to the wide belief during the war that the restor-