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September 1 0 , 19M Hr« T. R« Pr^stoa, I I Blt| B f 11trui National fttnfr. Chattanooga, T«fttMMM«« Dear Mr. ttQBl ftse . • JUT Xmt •- ..closia.. I ColH&Cj f4o Ciii- | I [ • lettf I ..pring . v i l l a s obj^o^ daailofti tO -••ibject. . _•.:.. Copi 9Ur l e t ! ha¥e been rm i I .. . I I lr« Collins 9 Mf , L^laioB a , Trossu. I it« ITery* t r u l t HtfUXfG I tea I CiV* T«aaesse^-f l a ») . to Mh • Lioa, August 31, 1934, Mr* Viner Mr. Socles I as attaching hereto for your Information copy of a letter sed ho Secretary Morgenthau from the Hr.iailtoa lationftl Bank of bta&Odg&j Tenneyseje, enclosing copy of letter fro^ii the Banlc of Spring Ci'ty, TiMMMiimt, to the i-ederal Deposit Insurance Corporation, copv of wliich I km alao attaching hereto* s«fit copies of these Xetterfl to Mr. Await, Wtm Panlger an/i 3i4r« Tall©y, : ttaciilng hereto copy of the raemorainiuia I wrote t o each of them. August 31, 1994« Assistant to the directors9 .Reconstruction Plnaeoe Corporation, W&sldrt-fbon* &. C, Dear H:r. Talley; I fim fttt&chiof hereto .., our laf«n»tlo& Of a letter *ddro»a«d to Secretary Margentlmu rron UMI Hamilton liational Bfink af Chattans>oga# Temiesisee, timlttng oopg of l e t t e r frosa the Batik of Spring City f T^&MWSML to the Federal Deposit Corporation, a copy of which I I ching hereto* This oorres^oridetKi-eftddrvfifiadJO the rei'er-red to so from his office tad I Ml yftaalnj I t on to you for your consideration as I fsel i t i s rather pertinent at this ti&a in view of the considers.tion iiiloh Ifi beir^ gi^en hy tbe Treasury in an effort to elininat^ duplleatloo of reporta and 8X?4ainations as well AS sore uniform staadarJs of ttMftaliwttniji In order to Sa>* prove t^ie credit relations-hip *f tiie bftakj wii±i the public. traly Assistant to the S<seretary of the Treasury* V/E Att. August 51, 1954* Mr. Await Mr, Eccles I am attaching hereto for your information copy of a letter addressed to Secretary Morgeiithau from 'the Hamilton national Bank of Chattanooga, Tennessee, eadOftilig copy of letter from the Bank of Spring City, Tennessee* to the 'Federal Deposit Insurance Corporation, a copy of which I am albo attaching hereto. This correspondence addressed to the Secretary Baa referred to sae from his office and I aia piltgltig it on to you for your consideration a,: 1 feel it is rather pertinent at tt&s t&Mm in view of the consideration which is being given Ijy the treasury in an effort to eliminate duplication of reports and examinationsftflwell as iiore uniform stendards of examinations in order to iaprove the credit rei&tionsliip of the bftnka vith the public. August 31, 1934* Mr* Paulger I am, attaching hereto for your information copy of a letter ressed to Secretary Morgenth&u from the Hamilton National Bank of Chattanooga, Tennessee, sndoeing copy of letter from the Bank of Spring ^ity, Tennessee, to tfc* Federal Deposit Insurance Corporation, a copy of wbicb I am also attaching hereto* This correspondence addressed to the Secretary w^s referred to me from his office and I aa tlfig it on bo you for your considsration M foel it is rather pertinent at this time in view of thc; consideration which io being given by the Treoimrv la ac e. fort to aLiminyte duplication of reports and examinations M well utj, iaore uniform standards of examinations in order to improve the credit relationship o: the banks with the public. 1IKAD OFFICK HAMILTON KVTIONAL B A N K CHATTANOOGA .TENNESSEE August 29, 1934 T. R. FHB8TON PRESIDENT Hon. Henry Morganthau, Secretary of the Treasury, WASHINGTON, D. C. Dear Mr. Secretary: At the suggestion of Gov. Black of the Federal Reserve Bank of Atlanta I am sending you the enclosed copy of letter addressed to the Federal Deposit Insurance Corporation by the Bank of Spring City, Tennessee. The banks of this State as well as every other State want to co-operate in every way they can to aid business recovery, but because of the drastic treatment by National Bank Examiners some of the banks, especially the smaller ones, are doing absolutely nothing in the way of extending credit. One banker in this State quit after thirty years service because he could be of no assistance to his community for the above reason. Banks that have come through this depression with a reputation unblemished should be allowed time to work out their problems. In the last analysis business cannot recover without the aid of the banks throughout the country. Yours ver; T. R. PRESTON, President A. B. COLLINS, Vice-President SARAH NEIL HILLEARY, Cashier ELLEN PAUL AULT, Asst. Cashier Federal Deposit Xnsmr&nce Corporation* Washington, 0* a* Thistoejtfci s a waa&er or your Corporation and i« also &miiat«d with the Baal 1 ton National Basic af Chattanooga, whiofa has been or great benefit tO US* i t a l n about one year tills feaafc was examined six t i a e , - twice by the State authorities, twice 4»y the Comptroller'a OfTle*, o»«a bjr tJMi PUIC and ooca fey tlMi Tm&**±\ Kmrnmr** B«ot. In addition to this we aava r«cuir#4 t« aaka iiin—>rafela raporta for pubUcation axKt oth«rwia«. fftla aitoation i s aot oaly «xpaoaiv© to Ha tout quit* disturbing to our people* Xt tills matiplioity or emsiiuations faad oecured when the u t a l l arrald of banke i t wo«ld problj ]sift oeueed a ran on nm and taigbt AAVS destroyed us entirely* «• are a as* 11 bank i s a saall oonwonity and eourae, so far as your office i s oonoernod ve do not at to anything, but tbm flatter i s exeeedingly important to tte, and we j»st wonder i f there i s not sofiw way we caa avoid tale baraeaisent. % underutaaa we are to go tHroagh this case experience to a degree# every year* Pro» a oredit standpoint we oaa hm of no service to e*r oosmauaity# and ve are gradually soswertlng omr assess ifkto bonds - aovenwseat and otiier wise - as tae encloeed statement w i l l ahoo* the olasslfioation of assets b$ seae i s so unfair to oevr oos«iuiity tlakt we oarmot amk* a tJiat w i l l fee acceptable fee tueou ^o«e or taem appear to be anxious to destroy as* aad sees §reat!y disappointed i r taey do net find &o»stiling IM4* fits rollowaing i s and example or waat so«e or tftese examinations are li&e$ ently t in answer to tne question on tae examination blann, fi)oes i i d f feanfc re-discount oontlnously, or for seasonable purposes? ff the Bxattlner said* *$eld*» re-discounts.• thm faot i s , tfeie htmk has newer had a re-discount or o i l l s payable on i t s eooka during i t s http://fraser.stlouisfed.org/ 44 years or exl<stenoe« Federal Reserve Bank of St. Louis T. R. PRESTON, President A. B. COLLINS, Vice-President SARAH NEIL HILLEARY, Cashier ELLEN PAUL AULT, Asst. Cashier i>epO£it Inswrnnse corporation If we are %€t $0 through contlattot&fc ly what «* have been throagto the pa«t f#v tt^^lui* A» ft mit%«r of fact we do s e t t h i s i a star a no* of deposits bos helped us i f at « U t statement l» •adored, and «e te luiv* further l»strnctiou© and advlee fros truljf President. C
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