Article Text

Inspiring Confidence AYOR HARRY MACKEY took spectacular but effective method of stopping run on Philadelphia bank. Learning of the increasing withdrawals Mackey went to the bank, with necessary ostentation deposited his own check for thousand dollars, then mounted desk and made speech assuring depositors the bank was sound. The run ended. The banking system of this country is inherently sound, backed by investments in the However, there are occasions country. when people become feverish, usually when some individual bank is closed. Then it is that banks with intelligent financial direction and with management whose integrity is unquestioned must meet the repercussions of suspicion. In the majority of cases they do this unaided by anything such as the dramatic action of Mayor Mackey. But often gesture such as that of the Philadelphia mayor, an assurance of stability from some trusted public citizen, expression of confidence from newspaper, is of material assistance in allaying unrest. Fortunately Pittsburgh has not suffered the necessity of "vote of confiany dence' as that of Mayor Mackey. Its banks in the depression have maintained relation with their depositors of mutual regard.