New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-07-21
THE BANKERS AT SARATOGA
ORGANIZATION OF THE CONVENTION.

MENTs UP FOR DISCUSSION.
typou A STAFF CORRESPONDENT OF THE TRTBrsg.l
SARATOGA. July 2O-It was matter of
some doubt among the $50 representatives OF National
Ranks no mbled In the Town Hall here this morn
Ing and even among those who had originally projected
and called this convention OF Bankers as 10 the precise
purpose which they were met IL was stated IN the
original call that pleasure and better acquaintance were
the first objects and general interchange OF banking
experiences-a sort OF financial love feast-the
principal purpose. second invitation further III
timated that oil questions OF a polltlcai
or sectional nature were to DO eareiu'y
avoided. But the members met this morning
without any definite idea of what was to be done.
general suspicion seemed prevail that axes OF some
sort were be ground. and equally general deter
mnation prevailed that they should not be ground with
out opposition This spirit and suspicion was so ehera
that wlen early in the first half hours session. Jealous
Philadelphia banker named adder proposed 'Iat eA-
Gov Biger be invited O address the Convention on tue
subject of the Centennial. the suggestion was rejected
with such aror 10y such overwhem NJ vote rs I"
Indicate there was some undercurrcnt of opposition
which could not he OWNED. l made careful inquiry
however, among those who were most active
in opposing the proposition, not only on It's
first offer but upon It's subsequent renewal ana c"nu
discover nothing more than indsposton TO take up
for subjects foreign TO the objects or the con
yeuicn. The discussion If the Centennial was decidedly
forcn 10 the purposes OF the convened bankers since
their business learn how 10 make money and not 10
listen to arguments intended 10 take ont Of their
pockets for Gov Bier still his grand begging tour
asking for 81, OOO, 600 for the National Fair
Notwithstanding its indefneness Of purpose the Con-
ventlon was not long getting to business. Commit
tee on Permanent Organization appointed rs 10"
lows f.. c. Brick OF ST. Louis 4. p. Palmer OF Albany.
j. d. Hayes Detroit K b. Conant or Boston, Morton
Nc Michael Of Philadelphia G ". Perkins OF New-iorh
j. /. Leonard OF Dallas Texas g. ~ Ives OF Chcdso'
aud J. W. lockwood Of Richmond. permanent organ
zation was effected by the nomination Of Charles b. Han
Of Boston ~ Chairman James F. Howensfeln OF ~
Louis as Secretary and A. W. Sherman Of Ncw-f"rk
as Treasurer The rest Of the business transacted WIS
the appointment OF q Committed OF Nine tto "h'" '"o
others were subsequently added on Resolutions ana te
reference 10 them Of number ~ resolutions or ftlo
topics suggested by individual members ~ the Conven
ton Most OF these OF practical and purely
financial character "a Indicated below. Tho Committee
ON Resolutions as finally selected. consisted or the ioi
lowing gentlemen: James Buell., President of the I'M
nortrs ana Tradcrs' Bank OF York Daniel j. Moves
Of Dartmouth National Bank Of Hanover, " H.; Luther
Goldman President Of the Hampton County Bank Mass.
John Hurst President OF the National Exchange Bank OF
Baltimore: l. j. Gage, Cashier Of the First National
Bank Of Chicago j. W. Lockwood, Cashier OF the Ma
tlonal Exchange Eank OF Richmond, va; Daniel D.
Priutup OF Prinup Brothers. Rome, Cal Edward Iyler
Cashier OF the Suffolk National Bank, Boston,
lanes T. Tarlton OF New-Orleans; c. III. Chaplin
First National Bank Of Pittsburgh and Logan
H. Roots of Dallas Texas. This Committee may be SAID
to fairly represent the Convention Very rev OF 'he
prominent banks SewYork of the country appear TO
be represented in the long list of go delegates. Inc
o inaI call was issued by committee, including tho
cashiers Of only four New York City banks-Messrs Eeo
W Perkins Of the Importers and Traders National T.
4 Perkins Of the Hanover National. A. W. sherman OF
the Dry Goods, and George +. Baker "f the frSt M
tiona Hardly which is generally considered rs
an authority finance appears on the ll't AMI the O-
mtee indicate by their reluctance to furnish the list
their belief thr II not imposing they had hoped
to make it.
The nature Of the hnne=s already cut out FOR the Com
ittee will Indicate further the character of the conyen
ton Naturally it il rag paper cnnNentioh hatlray
II wants the usury abolished aud just naturally
tconpaincd Of unjust national and unequal local tAa
alton The only two pointed speeches OF the morning
were made ny Mr. Hall taking the chair. ana by Mr.
G. c. pton The former touched upon certain grievances
o the banks and upon the qur ,on cf specie payments
He said. among other thing;
We have some annoyanccs and perhaps grievances that
So might talk about II IL were proper here and If you
Will aow me I will aIludo TO one two Of them. not
with the view Of presenting them for discussion ny the
IN The entire business community j. the twocen stamp
IApplause There Is not gentleman III my oplhi'tt
who draws check or pay one nai WVu'd r't IN, ,h
assessed hundred times what It costs nm ior inc
year than be- annoyed WIN luis Hui7eT -, ~ i
stui-ta applause ana thc "t,!' uOie 10 tn ii'i a.
men' from II is only about million of tron hon 10
A IN ~
b,rnig under the old war tax. Everything else was
s 1sy of was at removed 5nS i EXCEPT ''' TIL, tax
upon the banls suppose the r,t'oh VS. - ,h th
banks modest thar hey did not 9yen a1E a. tiil
about time for that modesty 10 pass away do not
know gentlemen. why the banks ~ tins country -houa
nav tax OF oIe-half per deposits AMI OF capital
The deposits you know, are mertl cheek, ia me t
deposited 10y business making their collections an
sponsbitv their collection, and sometimes furnish the
dcpositOr the money WINE the cne'hs 49, 'rio
nere Of dong H. between three and half aud four nil
i t6at in fsrics- 70 the Goveinrncn lAppau.e
Then there i. the of One-alf per cent upon capital
IL lis fullest exut. In state Il Is taxed for al that
il VIII bring in the market In New-York i Il taxed
Is I.rrf.et y enormous and tie banks. IN my opinion
ou'ht. at The next session Of C9nSress through men
National Executive Committee which they Row nave or
in other way to ask that the act be amended III TINS
There another question that will alude to. hut not
TO open II discussion. That would be opening 900
shot that aur.tion .upp6sr for three months We
hi sht have great deal Of light on the question: ana a
ert deal Of darkness, aud be- probably ABOUT ~ hca. ll'
solution whom We got through ~ when commenced
Laughter The state of feeling upon this question re-
minds OF the member ~ the Legislature ~ Mass Gnu
sets who strongly In favor OF prohltOIy liquor
law but opposed 10 it, enforcement lLInserl iEere
are great many people among ", anu ssPp III nont
every where. who make great deal OF TAX ABOUT
s Yc'e -ocei9 g they do not do any ming Whatever
toward bringing us TO that point Ihey BUY Jus. a.
turc everything that they can sell, aul nor. Bui S''h
,lcy must occasionally have tc ly-tak about spec,c
\ t,aVmeut. u..uglter.l Now, do not want 10 hiNeH
understood ti an not one of that class We al "...t
specie payment soon az We can, WllhDul us
tr.sng III. business community or bringing rain on me
county generally. But am NOT one OF that class VINO
think that the prosperity 81 this country del+nds en-
trely upon hurIyng to specr pay nent lApD!lu,c.I
hn tins country las been very prosperous and l. PROS
porous now nOtwiti standing the results Of the tempo
! iary panic-perhaIs little longer temporary
than we would like 10 have H. lAiuSht'r
! and applaueeJ But YOU will Tccollcct that
alter her great war England, country that owed mo-