Evening Republican, Volume 23, Number 26, Rensselaer, Jasper County, 29 January 1920 — NATION’S RICHES NO LONGER CONFINED TO THE EAST [ARTICLE]

NATION’S RICHES NO LONGER CONFINED TO THE EAST

Washington, Jan. 28.—Decentralization of the country’s batiking resources and widespread distribution of wealth indicated by an increase in banking resources of .1,000 per cent or more in 16 states since 1899, was shown by a comparison of present bank resources, with conditions 20 years ago, issued today by John Skelton Williams, comptroller of the currency. The banking power of the country 20 years ago was concentrated mainly in the east, the report j»id, and national banks in New England and eastern states, comprising but rix per cent of the territory of the United States, held almost 60 percent of the total resources of all the national banks in the country. The proportion of the resources of banks in those states to all others now has fallen to 46.78 per cent, although the resources of the national banks in those states have increased 277 per cent or |7,710,937,000. Every section of the country has shared in the tremendous increase in wealth since 1899, but the report shows that the pacific coast has experienced the largest percentage of increase in national bank resources, amounting to 1340 per cent.