122 CONSOLIDATION OF NATIONAL BANKING ASSOCIATIONS 
Doctor Wirris. This gives the tabulated results of some of the 
studies of foreign bank ln I simply submit it for what it is 
worth, merely illustrating the point I have just made that in branch- 
bank countries you do not have the evil that we have here. 
Mr. Chairman, that brings me practically to the close of what I 
have to say on the subject of branches. I have dealt merely with 
a few points that I think are rather essential, and I have omitted 
the discussion of the number of branches, the laws on the subject, 
etc., all of which, however, is contained in these volumes here. 
The Cnarrman. Before you take up another point—I am very 
much interested in what you say about chain banks. Apparently 
those things have come into existence in response to a feeling of need? 
Doctor WirLrLis. Yes. 
The CuarrmaN. They are an evil and consideration ought to be 
given to the possible checking of them. 
Doctor WirrLis. Yes. 
The Cuarrman. And if so, what could possibly be done in that 
direction? 
Doctor WiLris. Well, since you ask me a plain question, I will 
give you a plain reply. I think properly regulated, controlled branch 
banking is the remedy for chain banks, just as I think the proper 
supervision of the drink evil is the remedy for that rather than 
prohibition. 
The Cramrman. At this point the committee will take a recess 
until 1.45 o’clock.. 
(Accordingly, at 12.05 p. m., the committee took a recess until 
1.45 p. m.) 
AFTER RECESS 
The hearing was resumed at 1.45 o'clock p. m., at the conclusion 
of the recess. 
STATEMENT OF DR. HENRY P. WILLIS (RESUMED) 
The CrarrMax. Mr. Willis, we will resume our hearing. 
Doctor WirLis. Mr. Chairman and gentlemen, before leaving the 
subject of branch banking, which was my second point, there is one 
matter that I should like to refer to with special reference to that por- 
tion of H. R. 2, which has to do with the control or regulation of 
branches. 
The Cuamrman. Before you go into that, I should like to say 
just this, that a number of gentlemen here, when we took our recess 
expressed to me a desire, from time to time, to ask questions in refer- 
ence to the policy and development of whatever subject you were touch- 
ing upon. 
Doctor WiLLis. Yes. 
The CHAIRMAN. And if it is not disagreeable to you, I would suggest 
to those present that if, at any stage of the testimony, any of You 
gentlemen have any questions to ask, simply step forward and touch 
me on the shoulder and I will see that the questions are asked. 
Doctor Wires. I shall be glad to answer any questions. 
The CuarryaN. Sometimes, if you can congregate the facts, when 
you come to read the record, it is a great deal easier than to have 
them scattered through separate pages.