Chapter LVI: Section 65: That any national bank having a paid-up capital and surplus

of at least two million dollars may establish a branch in any foreign country with the consent and approval of the board of directors of the American Reserve Bank.

COMMENT:--If we hope for our share of profit upon our foreign trade and if we hope to secure for the American merchant an equal opportunity in securing that foreign trade, we must prepare here two aids: one is banking facilities and the other is shipping facilities. Is it not perfectly clear that a foreign banker would do anything in his power to divert all the traffic he could over the shipping lines of his country? We shall find in the end then that our foreign trade will be aided not by our foreign bank alone but by American shipping as well.