Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1866-09-14


BAHKsR's CasvsHsssx ~ Cs,cAoo.
the proceedings q The rseeot Bankers Con
ven,ion at Chingo ass Of interest 10 IN,
public generally. our own city being repre-.
seated y Nr. Irs =. Oidsed, ses rspdsr,
vill pssdsn - Y - eiss shs oalaer to
much spass. The Csnssasies aaoablsd u
~ sseas II ~ osssk EssAanes % wed-
assdAy oosnine. ths aatsedascs being sens
whss issgss sAsu had bssn ezpscss1. Thu
ajset - - laks isle ceaeidssation meas
ssss which have bssa psadisg bsfess Con,
grsas. and to sxprsss the visws Of tn
sanksss Of tAe nesshssat spsu The sshjsesl
u dspssit ssdsaptiea end taxasios.
In forming Temporary ospniSasion. 3
D. Jones. Of The Second NstionAl ofChiesgs
wss called 70 the chair. end Ire n 0iaerd
Of shis city ssd Ira Holmes Of the Chicago
FNut Naiional, chosen Secretaries. 4 com
mittes being appointed Tor the purpose. r.
psstsd The nsmss Of the bsokses pssssss
~ fSllbviog Stases briag rspseseossd--lu
iaois, Ioss, AsMsei, xichieas, Wissse-
ain. Indiana. xtaasssss. Ohis. cad Louisi
ana After . shsss discussion a nattsrs
relative 10 Ne 0ansse Of conduceiag ths
business bssuss The nesting. Il was dscidsd
70 sdjouen till aftrnseas in order that ths
.ielsgAacs from the Lake Shoso towns nigh
ave tims to arrive end participate
II the afternoon. after the usu Il prel..si,
nary soutiae Of auch sccasisns hsd bees
passed through. Mr. croaebeuid Of St
l.ouis expressed his opinion that the con-
veotien should be called the Conv. ntioa d
The Western States. - the interests o|
those States we're &oss involved.
The Chairmao Of the Busiasss COMMITTEES
,hen stated that be would change the nsms
in accordance With the suggestion
The Committee on Business then reported
IN favor Of approving the present officers q
permanent ones. which was sdspte !. and al
90 reported the following sub>coumitsees
% Redemption -Msssrs Coolbsugh. Hall,
Hunt, Pendicion snd bssdley.
% Tsxas,os-Aeesrs. Sanford, Camp. Name
Geld, Cochrane and Bowen.
On Interest Asesss. Dabbase. williaml
strong. Hall and Andrews.
They also reported In favor Of the follow.
ing organization, which wss adopted:
Rasoirsi. That . National Ranksrs' Associs
tion fos she Western Statss be organised BY th,l
Convesuon. The oficsra Of which shall cossst Of
. President. . Vice resident froa cash state,
. Secretary and Treasurer. and an Executive
Committee Of nine psrso0s, the Executive Com.
uIttee 70 be authorized to 'epp ,sent the Asseeis
tion, recommend isg, station, and propose perm.
snent measures and call future Deetinge Of the
same.
The sub committee on redemption report
ed - follows:
The committee 10 whom the subject Of re
dempsiou Was referred made the following re.
port
Rssolr..,. Unanimouslv. - the sense Of thi,
eonventios. representing the Nstional Banks oi
the Norshwsst. thss the proposed smendment
70 section - OF the National bmk aet. - re-
porte ~ the Hon. N '. lloepsf. Of Masss-
chusstts, which requires all the nssionsl banks
VI the country ~ redeem their notes in New
York. Ph lsdelphis Or Boston. mests our earn
the eject Of such amendment. If substituted fos
the provision IN the Law - II nov exists con
cernlne redemption. will be to seriousiy embar
rass aud impede the commercial and rnaseial
interest Os the entire west aud southwest BY the
forced concentration in the eastern cities Of Z
very large portion Of the means Of the banks,
which the commercial necess,ties. especially Of
tie west. require to be used q home. We can
see no good resso, for ignoring she greet CON-
cou,asrciAi center Of the West end South st
/" the manner proposed, and believe The time
hes come when II ie alike our interest end duty
70 demand . recognition Of the financial and
commercial Importance Of our own section Of
the coun'ry. We. therefore, eas snestly remon.
strAte ageinst the paessse Of the proposed
am, ndment. and respectfully ash oar senators
aud repre- ssasostves in l,0eeress - ues their g.
forts 20 prevent any material elterssi"a Of the
iSignedl W. CooLsAucn.
The report vas. On motion. unaninously
a6opted
The Coumittec on interes made the FOL.
lowing report which Vas finally adopted
Your committee recommend the foii,wing
., &C By ssslkiae ONT NE words comneseiae
in the stA line 0f sa,d sectios; ''eaeeps that
whore ~ the lsWs efsay sssae. . die6sens rate
- l,saite1 Gos baaks Of iasse organlxed under
the stese isws the rsss - limited shall b u
lowed for ass0ciasasns osaaaiaed in any such
mend no other amendment Of ssid section.
The anb.commi.tee on Taxation returned
ne followi-e resolutions:
hesotrei, That it 10 the sense Of this convsn.
tion that tho stock of nsslonal sanks. TO the ex
H. 1~-> A~A &. 80 - III
not TO be taxed b. Or undsr stses ed municipal
authority and that proper action should be t.
ken by this convention TO CO operate with those
sow making an effort 10 New Tort to have re.
considered the recent .eciaioA Of the Unite
istsses Supreme Court allowing indlscrimata
tax atieu uuder state authority.
Kseseed. That In case the decision Of The Uni.
~ Sssess Cesrt shove rsfefsed to shall BE- e.n.
nrmst, then W. shoald use every hosssable
means to ksvs the banking law % snssdsd ahs,
asl sa1s1iss shail b. na1e peysbls - TIE treas
usv Of the Ustesd Sssaes.
Rseolred, That il 10 the sense ef this couveo-
-, tAai Hnleae 10 decision of the Cuieel
SteGoa Hoseemo Csurt recently nade, allowing
indisesfmiuote tas stion BY OF un1er etete au-
thority can be reversed. or soms amendment u
the naiioual banking law can b nsde, Noitins
the rsts Of TAXATION under the laws. this system
aaA jsstly dopular throughout the country. must
- S0h3ecs 20 greet changes detrimental to the
psblc good.
The resulssisas wsre vsted - separately
TIE lnt oae was adopted. Ahee lengthy
diecuoion, the second resolution wsslaid or
the table. On the reading u ~ third rss.
olutiou, IN aaioated debate ensued. snd on
. vues 'Asiss tshss, shs resolution was lost
Mr Jonn wesre, cashier Of the Firss Nssiss
81 Bank Of Cedar Ropi0s, JoVo, o1bmttte1 che
following rspeiusien, WhicA - saepted:
{ AbsetseI. lhat tAis eenve11ioa expeooe the
oClnien sha1 the pgooooe oa1ionol hoaklae Nv
ehculd be % q euded = - oecure 70 the eeves.
a banks ~ndes saitaeje ptevision the lssseGt oi
oil Lost circulation.
Ansr ibs appoistsbeat efs Csnmistes d
one iron sach Stats 70 report sdiesn fos The
Nssioaal Basting Aseociaaisn, . resolution
wss adopted favsring The sspssl 4 Ssstion
% Of the National Cur:sasy Act, which
limits ~ liability Of aay pssssa. company,
q cooperation 70 IN sssociatioo 10 eoe>eseto
u The capital sock Of such sssociaaiso. Al
the evening session permanent osganiss-
~ vas elected. ths Psssidsat q Which h
". 2. Coelbsugh. psesldeat u ths Union
NaAisaal Bank, Of Chicago. Ira n. Clifford.
Of shis eity. was also chosen one Of the vice
Psesideots, representing Iowa. After ss0s