Huge Bank Deposits
$29 billion!
That’s the amazing total of deposits in banks of all sorts
in the United States in December 1918, as reported by the Comptroller of the
Currency.
Bank deposits do not belong to the banks. They belong to the
depositors—as all but stupid people know.
This stupendous total means that the people of this country
are rich. We are the richest people anywhere on earth today.
Our bank deposits in the United States are six times bigger
than the new Victory Loan that is now being offered to the American people.
They are more than the Victory Loan, the four Liberty loans, and the War Stamp
loan all put together--$10 billion more!
The distribution of bank deposits by states appears in the
table presented elsewhere in this issue of the News Letter. [Scroll down; it's at the end of this article.]
Our total in North Carolina in December last was $174
million.
It represents a gain of nearly $100 million in four years.
It amounts to an average of $70.08 per inhabitant, counting
men, women, and children of both races.
And the Victory Loan
We have already invested $151 million in this state in
government securities, and we are richer than ever in bank deposits!
We have now a chance to invest $40 million more in the
Victory Loan, and we’ll take it with a rush. That will make a total of nearly $200 million laid away in
gold-bearing government securities in North Carolina in less than two years.
The federal interest money coming back into this state in
1920 will be around $9 million.
That’s a figure worth turning over in our minds somewhat.
It is more than twice the total cost of our state government
in 1917. And only a fourth less than the cost of state and county governments
all put together the same year.
We now have as cool $50 million invested in automobiles in
this state; or more than twice as much as the combined value of all our school,
college, and church properties.
And we can invest another $40 million in Victory Loans.
Nothing is easier.
We are rich enough to do anything we really want to do in
North Carolina.
Having put our hands to the plow we are not likely to look
back. It is not North Carolina’s way.
Having started out to do our part in this war, we’ll stick
it out to the end and close up our account in decency and in order.
From The University of North Carolina News Letter,
April 23, 1919
Bank Deposits in 1918
Based on the 1918 Report of the Comptroller of the Currency,
covering all banks State and National.
By the Omaha Chamber of Commerce.
Total for the United States $28,961,152,000. Per capita, for
the country at large: $248.73; for North Carolina: $70.08.
Rank
|
States
|
$
Per Capita
|
Totals
($)
|
1
|
New York
|
713.18
|
7,538,357,000
|
2
|
Massachusetts
|
541.77
|
2,092,854,000
|
3
|
Connecticut
|
481.52
|
625,979.000
|
4
|
Rhode Island
|
450.11
|
283,570,000
|
5
|
California
|
413.62
|
1,338,074,000
|
6
|
Vermont
|
373.60
|
137,486,000
|
7
|
New Hampshire
|
350.25
|
158,613,000
|
8
|
Iowa
|
337.77
|
758,295,000
|
9
|
District of Columbia
|
319.94
|
126,956,000
|
10
|
Delaware
|
302.75
|
66,605,000
|
11
|
Montana
|
302.38
|
149,677,000
|
12
|
Maine
|
302.32
|
235,505,000
|
13
|
Pennsylvania
|
300.31
|
2,657,786,000
|
14
|
Nebraska
|
285.20
|
385,874,000
|
15
|
Illinois
|
279.82
|
1,762,893,000
|
16
|
New Jersey
|
279.77
|
853,307,000
|
17
|
Maryland
|
278.16
|
392,200,000
|
18
|
Ohio
|
266.36
|
1,404,270,000
|
19
|
Minnesota
|
260.96
|
613,260,000
|
29
|
Wyoming
|
254.46
|
50,128,000
|
21
|
Michigan
|
252.83
|
797,672,000
|
22
|
South Dakota
|
239.07
|
180,261,000
|
23
|
Nevada
|
210.94
|
26,157,000
|
24
|
Arizona
|
209.84
|
57,916,000
|
25
|
Colorado
|
207.94
|
219,373,000
|
26
|
Missouri
|
207.10
|
724,859,000
|
27
|
Utah
|
193.64
|
88,493,000
|
28
|
Wisconsin
|
189.40
|
494,341,000
|
29
|
Oregon
|
188.82
|
169,939,000
|
30
|
North Dakota
|
185.42
|
149,264,000
|
31
|
Kansas
|
180.41
|
354,693,000
|
32
|
Indiana
|
177.45
|
510,695,000
|
33
|
Washington
|
176.91
|
297,203,000
|
34
|
West Virginia
|
152.36
|
218,637,000
|
35
|
Idaho
|
147.25
|
72,891,000
|
36
|
Hawaii
|
139.32
|
32,043,000
|
37
|
Florida
|
121.71
|
113,813,000
|
38
|
Virginia
|
121.22
|
272,741,000
|
39
|
Louisiana
|
117.13
|
217,284,000
|
40
|
Oklahoma
|
116.63
|
283,409,000
|
41
|
Texas
|
109.79
|
501,198,000
|
42
|
Kentucky
|
101.59
|
247,379,000
|
43
|
Tennessee
|
100.37
|
233,170,000
|
44
|
New Mexico
|
88.03
|
40,492,000
|
45
|
Georgia
|
82.59
|
240,752,000
|
46
|
South Carolina
|
80.68
|
132,323,000
|
47
|
Alaska
|
79.25
|
7,370,000
|
48
|
North Carolina
|
70.08
|
174,147,000
|
49
|
Arkansas
|
67.37
|
121,946,000
|
50
|
Mississippi
|
59.50
|
118,104,000
|
51
|
Alabama
|
58.64
|
138,401,000
|
52
|
Puerto Rico
|
19.22
|
23,935,000
|
53
|
Philippines
|
7.82
|
70,482,000
|
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