The text is a response from Congressman James R. Jones to Louis H. Nevins, Director Counsel of the National Association of Mutual Savings Banks, regarding H.R. 11221. The bill was passed by the House and the savings bank industry urges for an increase in insurance on savings accounts to $50,000. However, they also request to vote against any amendment that would reduce or eliminate the additional interest thrift institutions can pay on public deposits. The industry believes that public deposits could provide a new source of funds for the mortgage market, but an adequate interest rate advantage is necessary for thrift institutions to compete with full