The Washington times., 1925-05-11
PAST DECADE Of
D. c. BANKING
REVIEWED
Statistics of Fifth Federal Re-
serve District Show 10 Years
of Prosperity
By RICHARD HATTON.

The statistical department of the
Fifth Federal Reserve District has
just completed a most exhaustive
compilation indicating the ire
mendous increase in banking power
for the district during the ten-year
period from June 80. 1914, to June
20, 1924. The record shows what
may be considered a most remark
able growth in wealth, capitalize.
ton, deposits and total resources OF
the 1888 National and State banks
in the States of Virginia, West Vir-
GINA, Maryland, the District Of Co
lumbia, North Carolina and South
Carolina, comprising the Fifth Fed
eral Reserve District.
It is evident from the conclusions
to be drawn from the statistics that
the territory comprised in the dis.
trict has passed through a decade
Of prosperity and expansion posi-
bly, unequaled in its history and
that business conditions today war
rant the most optimistic outlook for
the future.
The following figures compiled
from the report are most interest
ing, illuminating and reassuring as
to the stability and continued pros
perity in the fields Of agriculture,
manufacturing mining, fruit grow
ing and the mercantile interests
Of the territory covered.
LBS Banks in 1914.
On June 80, 1914, there were
1875 banks in this district. Ten
years later these had increased By
443 new organizations, making 2,2SS.
90 oil 20
solicitations.
In 1914 the 1895 state and ma
tional banks in the district reported
total capital, surplus and undivided
profits as follows: Capital, $144, 36z,-
900; surplus. $8S,647, 900; undivided
profits, $29, $4,000, with deposits Of
$797, 044, 900. The total resources in
1914 were $780, 62, 900. Ten years
later these items had risen to the
following figures Capital, $217,972,-
600; surplus, $164, $50 900; undivided
profits, S57, 1888, 900; deposits, $685..
Sal 900, indicating the following ex-
ceptional gains: Capital, $73,610, 900;
surplus, SIS, 1892 900; undivided prof
it's, $27 $4,000; deposits, $1,252,-
100000 and resources, $1.5S1, S79, 900.
Due to Federal Reserve.
According to local bankers the
tremendous development recorded in
this district is very largely due to
the Federal reserve system. Just en-
tering its eleventh year. The sys-
tenn has made it possible to give
agriculture and commerce in the
district the elastic currency so much
needed in place of the old cur
rency system enacted during the
civil war. Through the banks Of
the district adequate loans have
been furnished agriculture and COM
merce commensurate with their
needs, their legitimate requirements
and their financial responsibility.
Moreover the currency has been
absolutely sound.
AS stated by one local banker.
today, the figures quoted above in
dictate that agricultural, mercantile
and manufacturing interests in this
district are absolutely sound and
prospecting and there is no reason
C anticipate any change in these
conditions which portend continu.
ing prosperity for the entire terri
tory, including Washington.
The Federal Reserve system is
lauded by Washington bankers as
having been a success, even beyond
expectations, since its inauguration
ir 1914 1t has been one of the
most helpful factors in progress
ever established by any power.
The statistics are given for this
district for the period from 1914
to 1924 are pointed to as conclu.
sive evidence of the success of the
system.