Proclamation 3521—Centennial of the Commercial Banking System

Whereas the year 1963 marks the centennial of the approval by President Abraham Lincoln of the Act of February 25, 1863, which provided for the establishment of a system of national banks chartered and supervised by the Comptroller of the Currency, under the general direction of the Secretary of the Treasury; and

Whereas the national banks and the State-chartered banks comprise a dual banking system which has beneficially served the public interest, provided credit and other financial assistance necessary for the economic growth of the United States, and played a leading role in keeping our economy competitive and vital; and

Whereas commercial banking, both Federal and State, has made great contributions to the Nation in tunes of crisis and continues to serve the Nation daily; and

Whereas the national banks and the State-chartered banks anticipate continued opportunities to contribute to the future growth and development of the economy of our country consistent with the changing needs of the public, industry, agriculture, and commerce:

Now, Therefore, I, John F. Kennedy, President of the United States of America, do hereby designate the year 1963 as the Centennial of the Commercial Banking System; and I request the people of the United States to join with Federal and State authorities and representatives of the banking industry in activities and ceremonies designed to pay tribute to the contribution which commercial banking has made to the economic, social, and cultural lives of the people of this Nation.

In Witness Whereof, I have hereunto set my hand and caused the Seal of the United States of America to be affixed.

DONE at the City of Washington this twenty-fifth day of February in the year of our Lord nineteen hundred and sixty-three, and of the Independence of the United States of America the one hundred and eighty-seventh.

JOHN F. KENNEDY

By the President:

DEAN RUSK,

Secretary of State