Business & Finance: Town Banks vs. Country

One result of the rural credits discussion in Washington last year was the authorization of a joint commission of Senators and Representatives, whose duty it would be to ascertain why it was that 9,678 banks in this country eligible for membership in the Reserve System, had not seen fit to join it. The commission will travel into every state in the Union and hold hearings in all significant banking centers.

Much of the hostility thus far shown to the Reserve System by country banks is believed to be due simply to the old but perhaps inevitable antipathy between country and city banks....

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