was very interested in the article with the above heading in the Adventist Review dated 13th. September, 1979.

Interested because it reminded me of a story told to me by the late Pastor C. H. Watson who was the president of the General Conference at that time, i.e. through "the depression-ridden thirties."

The story as told to me and as I recall was that Pastor Watson had observed that a number of banks had closed. He therefore called the officers of the General Conference together end [sic] suggested to them that $60,000 be taken out of the bank account and put in a safe deposit so that there might be some ready cash available in case a moratorium might be proclaimed by presidential decree.

The General Conference officers did not sense the same degree of urgency as felt by Pastor Watson. However they agreed to take $30,000 out of the regular bank account and place [it] in a safe deposit.

That day more banks closed their doors and so the next day Pastor Watson called the officers together again and said that instead of $60,000 he counselled that $90,000 be put in a safe deposit, because of his fears that a general monatorium [sic] might be proclaimed.

The good General Conference treasurer demurred by saying, "Not in America, Elder, not in America."

However the additional $60,000 was taken out of the bank and placed in the safe deposit that day, making $90,000 in all--and that day or night, President Roosevelt signed the order closing all banks.

Pastor C. H. Watson told me that with this $90,000 and the offerings which kept coming in from our people, that all the missionaries were held at their posts and the work carried on as though nothing had happened.

*Reproduced from a carbon copy from L. H. Engelbrecht's vertical file; submitted by Lorraine Engelbrecht Everitt.