IT IS EXTREMELY gratifying to learn that the Canton Exchange Bank, through the cooperation of the Reconstruction Finance Corporation and the State Banking Department of Mississippi, has reopened its doors, resuming a service covering a span of more than fifty years. Yours is a community which now realizes how dependent every individual in the town is upon the continuous functioning of our institutions and in restoring this service to them you are serving the community.
HERBERT HOOVER
[F. H. Parker, President, Canton Exchange Bank, Canton, Mississippi]
Note: The message was in response to a telegram from Mr. Parker, dated March 28, 1932, which follows:
On November twenty-fifth due to heavy withdrawals and our inability to liquidate our securities sufficiently fast our bank was forced to close its doors although entirely solvent. Through the cooperation of our state banking department and the splendid and prompt assistance rendered us by the Reconstruction Finance Corporation we were able to reopen our doors today ready once more to serve our community in which we have been established for fifty-two years. We naturally feel very grateful to the board in Washington and want you to know that the remedial legislation which Congress enacted is producing some genuine good.
F. H. PARKER President,
Canton Exchange Bank
[The President, The White House]
Herbert Hoover, Message to the Canton Exchange Bank, Canton, Mississippi. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/207515