The Birmingham age-herald., 1924-05-25
W. P. (. HARDING OBSERVES CHANGE
 IN BIR MINGHAM
Former Citizen On Week End Visit, Speaks
 Of Growth
M. P. G. HARDfNC

". P. G. Harding, former president of the First National bank of Birming. ham and now heat. of the Boston Fed- eral ResFeve bank, one of the leading financial institutions in the country. who is here on weekend trip, Sat urday expressed himself remarkably impressed by Birmingham's pr0gresss
 s'The city has expanded more in tho lees two years than in aEix other eight before 1t, he declared Trhak la pslr- tieuIarlg true of the residential gE0#th and civic development. The business enhancement has yet to come.
 Birmingham, he stated, offers a Ire freshing distinctioa from other parts of the country although he said he did not consider conditions, generally, of fered any cause for alarm.
 At the present time, Mir. Harding continued, there is q feeling of insecur- ity caused by an uneasineas as to just what Congress will do in regard to taxation matters. Until this has passed do not look for any periods of ex- ceptional development.
 New England Situation
 In New England there is some mo- ticeable depreciation in industrial ac- tivities, particularly the textile mills: Banks are not borrowing to the extent that they formerly did, Money is cheap and believe people are saving more than they used to. In speaking of the textile industry, it Is gratifying t. note increased prdouction in the south, although I do not bleive this section will ever take over all of the industry. There is enough for both New England and the southern states. 7
 For Europe, Mir. Harding sees sal. vation in the Dawes plan, although he adds that the reconstruction in the past few years has been surprising. T find that about 90 per cent of the reconstruction work has been ac- complished. For example, the Rheims Cathedral, disfigured during the war, has been replaced to almost the same appearance it had previously. There is also a considerable amount of ae. tivity in agricultural communities and the soil, stripped to its limestone base is rapidly being relaid.
 Frances, Reeaperation
 France shows amazing signs ol progress despite their evident fright al fluctuation of the franc. This, of course, is q severe handicap to business
 .aThe cities of Europe, Paris, Buda. pest, London are all as attractive as they used to be. What impressed ns most is that few casualties are found on the streets and no beggars. Govern, ments have apparently take care of their maimed,"
 Mir, Harding, both because of hil connection with financial institutions here, and because of his rapid rise in government affairs, which gained countrywide attention, is well known here. Hes came to BirminghaH in 1886 and in 1902 was elected bend of the First National bank Twelve years later he was appointed on the federal reserve board at Washington and in 1922 became financial adviser to tho Cuban government. A year later he was named head of the Massachusetts bank.
 Faith In Hungary
 Not long ago he was asked to accept Hungary by the League of Nations, . position which he declined. He de clares, however, that from his recent visit to Budapest he has considerable faith in the nation and expects 1t tC make swift strides under the plan worked out for the control of its cur rency. He is accompanied on his trip here l by his daughter and his son-in-law Mir. and Mrs. E. V. R. Thayer. Mir Thayer, ex-pfesident of the Chase Ma tienal bank of New York, is now con nected with E. Atkins & Co.,, sugai | interests of New York.