Regional President Speech

Eighth Annual Dinner Lebanon County Chapter American Institute of Banking LEBANON COUNTRY CLUB Friday, April 21. 1944 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis MENU GRAPEFRUIT ROLLS BUTTER FRIED CHICKEN NEW POTATOES PEAS CARROT and APPLE SALAD ICE CREAM CAKE COFFEE Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PROGRAM DINNER—6:30 P. M. AMERICA INVOCATION..........Rev. Paul H. Sheffer Pastor, St. Luke’s Lutheran Church Schaefferstown, Pa. ENTERTAINMENT .. .Military Personnel Indiantown Gap GUEST SPEAKER........Dr. Karl R. Bopp Research Director, Federal Reserve Bank Philadelphia, Pa. PRESIDING ...........................A. E. Warner President, Lebanon County Chapter American Institute of Banking DANCING TO VAL BASHORE and HIS ORCHESTRA Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Lebanon Connty rhapter Administration Officers A. E. Warner Preside»* First National Bank, Schaefferstown, Pa. Richard P. Zimmerman Vice Preside** North Side Bank, Lebanon, Pa. Margaret Papson ___ Secretary North Side Bank, Lebanon, Pa. Paul G. Spangler Treasurer Farmers Trust Co., Lebanon, Pa. ----o---- BOARD OF GOVERNORS Robert D. Womer—1944—Lebanon County Trust (X John B. Shenk—1944—Peoples National Bank. K. Paul Fernsler—1945—Peoples National Bank. Ira L. Kreider—1945—Annville National Bank. John S. Mull—1946—Lebanon National Bank. Ralph E. Speck—1946—Jonestown Bank A Trust Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ^ 7 z. X ' <2.1 I q.HH Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis From War to Peace with Banks X. Introduction: a^* A* We must know where we want to go 1» Alice and the Cheshire Puss* B. We must prepare to get there 1« Preparation must be proper a* Maglnot minds won^t help b* MHe might as well have et." 2« Preparation must bejquEapsx in time -not too little and too l*te a. Incident at an outpost b. What if Hitler surrendered tomorr< C. Unique position of banking 1. Enormous expansion during war U. 3* member banks December 31 (Billion #) 1939 1943 fcoans 8c investments 54 74 Governments 14 53 Demand deposits 26 53 Mot as large as shipbuilding, aircraft, but very large 2» Ho prespect of serious post-war decline• Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis I. The American war record. A. The armed services B. Industry 1* Early mention of sacrifices 2 . Accompli shments "I see you are able to get beef" MYes, and we finds we likes it.” Industrial production for war and civilians Star Total Civilian War 1932 58 58 0 1935-1939 100 100 . ialy 1940 123 (»0. 1943 245 75 170 C. Finance from i to l/3 in taxes Ownership of U. S. Government Securities Amount held Increase in holding vec. 31,*43 1943 1942 1941 kinks 72.1 24.6 23.4 4*1 Jonbanks 96.6 32#5 24.4 9.3 *Otal 168.7 57.1 47.8 13.4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis XII. Problems of reconversion A. Demobilization B. Industrial reconversion 1* Moving gov*t work out of plants 2. Termination 3. Speedy settlement 4. Disposition of govt, property C. Long run problem 1. to achieve high level of productive employment Year Civilian Labor force Employed Armed Unemploy< 1932 50.9 37.3 .3 13.6 1939 54 *6 44.2 •4 10.4 1942 54.5 51.9 4.2 2.6 194X 57 «5 55.5 1.9 2.0 2• A war vs a peace economy: markets 3. Production creates markets the ‘’hitch” 4. Individual company approach Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis The problems or banks 1* Function of banks a* protect depositors b* extend credit where justified o. earn profits 2. Volume and ownership of deposits a* Relation of individual bank to systei b* Individual peculiarities c* Analyze deposit ownership at your ba 3. Loan opportunities a* Agricultural loans b. Personal and instalment loans o. Merchant loans d* Industrial loans e. Utility company loans f. Transportation company loans 4* The capital problem a« Reserves against risks 5* Government bond and Investment policy a* Importance of maturity policy adjustment to individual needs higher rates 11 just around the corner?" Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1944, April 20). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19440421_karl_r_bopp

@misc{wtfs_regional_speeche_19440421_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1944},
  month = {Apr},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19440421_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}