Evening star., 1936-02-22

II EktE is Ddllk NlleEe lIlele di
IL no glass eyes staring at you
kindly bank, an eaSy-goins
sort of bank, the only banl
of its kind on the banks of the Po
tomac or elsewhere-the bank tha
flourishes under the dome of the
United States Capitol.
This is the bank that obeys NJ
banking laws, the only bank ir
America without a charter, bank
that keeps open each day in the yeal
except Sunday from a m. until Con-
gross adjourns in the afternoon, nc
matter how late. bank that operates
even on the Fourth of July and other
holidays
Also this bank enjoys the distinc-
tion of being the only one in the
United States that did not close dur
ing the so-called bank holiday, or the
period of bank moratorium, or mourn
ing-the mourning after the night
before the New Deal.
Kenneth Romney. sergeant at arms
of the House of Representatives. is
president of this unique institution
a bank whose clientele is limited to
members of the United States Con-
gress, but whose business activity is
so widespread it takes in all countries
of the world. 1t even buys or sells
foreign exchange.
Hardly a day goes by. when Con-
eresS is in session, that the bank at
the Capitol does not cash checks
from almost every State in the Union
and it has on hand this vecy mo-
ment more than $12000,000 in accu-
mulated deposits. This, despite the
fact that not even Representative is
permitted to deposit money other
than that drawn as salary from Uncle
Sam.
You see, by the end of each fiscal
year, your old Uncle Samuel has paid
to his legislators the neat sum of
$4,405,O00. On top of that, the old
gentleman disburses S175,0 900 as mile
age to keep the boys from walking
back home.
All this money is paid out over the
counters of the bank in the sergeant
at arms office. More, all the secre-
taries and clerks and employees Of the
House of Representatives are per-
mitted to cash their pay checks at
this bank.
A GAIN, when some constituent of
Congress goes broke in Washing
ton, has no banking connections here
and wants few sinoleons to pay the
hotel bill and the hat check girl, all
he has to do is get the Congressman
to indorse his check-and there he is.
In the daily run of banking business
at the Capitol the bank cashes checks
for out-of-town men and women,
checks ranging in value from SIS to
$500-and one day the cashier forked
over $4,000. That, of course, doesn' t
happen every day. but even if it did
this little bank under the dome of
the Capitol could pay and pay and pay
q For it has behind it no less a deposi-
tory than the United States Treas
ury. That is where this bank keeps
all its funds, except the cash on hand
for the day-and any time the cash
drawer gets unduly light all Mr.. Rom
ney has to do is call on his friend
the Secretary of the Treasury for
more money.
1t takes quite lot of money to run
this bank. merely for the cashing OF
outside checks. Also there are three
separate and distinct pay days to be
met. The Representatives get paid
. on what they call the first of the con-
g gressional month, which is not the
). first at all, but the third day of each
month. You see, congressional yea,
, starts the Sd of January.
. On the other hand, all the clerks
and secretaries to Representatives
and the regular employees of the
House of Representatives and the old
! and new House Office Buildings, gel
paid like all Government workers, on
' the 1st and the 18th of each month
( When these two days roll around
!. although these particular persons dc
= not have deposits at this bank, they
i have the privilege of getting their
Government checks cashed there-and
(, that takes. on each pay day, the neat
:. little sum Of $150,000.
1 To facilitate all these intricate bank
/ ing operations. and not having a bank
I charter, the bank In the Capitol clears
I through the National Bank of Wash
ington-the oldest financial institu-
+ ton in the Nations Capital. The
/ bank at the Capitol is not a member
i Of the Washington Clearing HouA,
esz5, ,as5.-