49 was noticed by merchants in many sections of the county, who reported not only augmented buying but greatly increased confidence. As an additional remedy of restoring the integrity of the nation’s money supply, an Emergency Banking Bill was passed which protected the money supply against hoarding, melting or earmarking of gold or silver coins or bullion or currency. The President of the United States required any person engaged in any transaction to furnish under oath complete information on the person’s intentions. A notice in the Clarke Courier addressed the hoarding issue: “The Treasury Sunday night denied the right of any banking institution to permit withdrawals for hoarding. The bank is made the judge by the Treasury as to whether withdrawals are intended for hoarding. The provisions declare that banks, before permitting huge withdrawals, may require from depositors a full statement under oath as to the purpose for which the currency will be used. At the same time all banking institutions are authorized to cash official checks drawn by the various secretaries of state for payment of salaries and for other purposes and to remit the amount thereof to banks from which the draft are received. No gold or gold certificates shall be paid out under this ruling.” Shortly after the reopening of the bank, a meeting was held with representatives of banks from Frederick County and Winchester to discuss interest rates on deposits. A decision was made on a mutually agreeable rate that would then be offered to the customers of all local banks. They also discussed a collective reduction on the rates paid on savings deposits. Application was made in October of 1933 for membership in the temporary Federal Deposit Insurance Fund (which eventually evolved into the Federal Deposit Insurance Corporation – FDIC) in accordance with the provisions of the Banking Act of 1933. A week later, Mr. Joseph Moore resigned his director position after taking up residence in Washington, D.C. and finding it inconvenient to attend Board meetings. An ad in the Courier that appeared on November 23, 1933 stated the following: “Many and vast changes in our nation, in our conception of things and our local surroundings, years of glorious progress and years of chilling fear and panic, the coming of new faces among us and the passing of old and worthy ones; yes, much has happened since that day some fifty-two years ago that marked the founding of the Bank of Clarke County. Came ’93, and again in ‘07 days of national stress, then ’14, ’21 and on to ’29 . . . yet never once faltering, always a well of safety, from the day of its inception when Mr. A. Moore Jr. was its first president down to today and the administration of its present president, Mr. W. A. Bradford, and Mr. J. F. Spates, its Cashier, steadily, quietly onward. Well, indeed, has it earned and gracefully does it bear that old and honorable name . . . the Bank of Clarke County!” The Bankers Code of Fair Competition was approved by the President of the U.S. on October 3, 1933 and required the organization of a clearing house association to be formed and to be known as Regional Clearing House Association No 3. The Cashier was directed to subscribe Bank of Clarke County as a member. Beginning in December of that year, the bankers’ National Recovery Act code became effective. The Code was far-reaching and quite revolutionary. It