HON. LAWRENCE O. MURRAY ON PROBLEMS OF THE COMPTROLLER’S OFFICE.
Hon. Lawrence O. Murray, LL. D., Comptroller of the Currency, read a most excellent paper entitled “Some Problems of the Comptroller’s Office,” before the American Bankers’ Association, September 14 last, at Chicago. It was later published in Rand-McNally Bankers’ Monthly and circulated throughout the country. Dr. Murray takes a natural pride in seeing the banks of the country grow in number, strength and popularity; but believes expansion should be along normal, safe and conservative lines. “If we are to have a great system of banks, sound, well managed and prosperous,” says Dr. Murray, “the greatest attention and scrutiny must be exercised before the government issues a charter. In the national system we want banks organized in places where the demand is spontaneous and originates with the people living in the place who feel an actual need of banking facilities. I do not believe in the organization of banks by promoters who go about the country, calling public meetings, and by methods of advertising characteristic of the circus, endeavor to arouse enthusiasm for the organization of a bank.”