The midland journal. (Rising Sun, Md.) 1885-1947, 1935-10-04
PUBLIC CONFIDENCE
CONTINUES TO GAIN
Bankers Report Nation Wide
Improvement in Attitude To-
ward Banks-Educational
Campaigns Play Part

NEW YORK.-Ninety-six per cent
Of over 300 reporting clearinghouse
throughout the United States find con.
crete evidence of favorable turns in
public opinion regarding banks, 1t is
shown in the results of survey made
by Banking" the monthly publication
of the American Bankers Association.
City and country districts in every state
are represented, 1t Is pointed out.
1.-THE outstanding conclusion is that
there has been a genuine nationwide
improvement the last few months in
the attitude of the public toward its
banking institutions" the publication
says. Statistical evidence on which the
bankers base their conclusions which
warrant this statement is as follows:
The Evidence
"How do bankers know there has
been an improvement in the public at
titude? They have certain statistical
evidence. They have seen their deposits
increase substantially in nearly all the
cases reported, and tremendously in
some cases. Many letters tell of in
creases of 100 to 800 per cent from the
low point of the panic.
For another thing, they know that
fewer people are using safe deposit
boxes as a repository for their savings,
and that, in many instances at least,
postal savings are declining.
However, many express the view
that they could throw out the statis-
tical evidence and still realize that the
public is in better mood where the
banks are concerned than before. The
best evidence offered on this point,
numerous bankers say, is to be found
in the acceptance by the public of the
newly instituted service charges and
the reduced deposit interest rates"
A Summary of the Returns
The statement presents the following
summary Of the survey:
I'VE find on breaking up the general
classifications of replies to the poll that
the 65 per cent of those answering with
an unqualified yes represent only a
partial measure of the optimistic feel
ing. Adding the favorable replies in.
cluded in other groups, Il. g. yes with
qualifications, no change and 'mixed')
we find that the vote shows definitely
healthy situation in 81 per cent Of the
localities reporting; at least some
signs of improvement in another IL per
cent; continuance of unfavorable con.
ditions in 2 per cent, and change for
the worse in another per cent. It is
not too much to say that this Is sub
stantially SO per cent favorable"
Reasons for Changed Public Opinion
AS to reasons for the changes in pub
lie opinion regarding banks reported by
the clearinghouse more than one or.
ganization has word to say about the
American Bankers Association adver-
Using and educational material" the
magazine says.
1t mentions in addition the benefits
of the Federal Deposit Insurance Corp
Grafton In the emergency. improvement
in the general business situation, the
wedding out of weak banks and the
banking moratorium.
"The response to the survey can be
put down as encouraging and informa.
tive" the magazine concludes. ut holds
out the definite hope that with con.
tinuance of a cooperative, educational
attitude on the part of the bankers the
rest of the journey back to normal may
we'll be completed in the not too dis
tant fi1tIlra"