New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-10
THE BANK CONVENTION.
CLOSING SESSION Ar SARATOGA.

SARATOGA, N. l., Aug. S.-Ine DdnkerS
the closing session OF their convention in the
town hall at IL o'clock to-day. The nominating com
mtteo presented the following list OF officers for the
ensuing year. aud they elected by the convention
President-Afxander Mitchell president Of Wisconsin
Marine ana Pre- Insurance Company bank Of Milwaukee, also
Itrs wee PresidetJaeOb D. Yefmiye, president OF the
Erseulrs Connell-George s Coe president American tx
president IppSrtsT and traders National Bank OF New
YORK Morton McMicha jr cashier FIRST National Bank Of
Planters Bank Baltimore. Edward Tyler cashier suffolk
Na;ionaI BANK Of Vr1ns Richmond j. b. Hayes vic
president Merchants aud Maauiactgrers National Baak
Detroit, Mich. H. j. Gage cashier Fist National Bank OF
Chicago Ill Mtiham O. Deshle president National TX.
rSii pIrdpnI S,i2Sn Rational ank Des MoInes Iowa NJ
Koppsfi Tssdept National BAnE Of Texas eayes Texas
CHARLES Parsons president state Savings association a.
waukee Wise9nsn W II kowR' president National Baak
eha me Nao6s BANK NeWark = r. Moray cashier
Kentucky National Bank Ionisyie Kentucky William a.
Mcmillan cashier Mobile sayings Bank. Mobile, Ala A. IL
Mlard. cashier Omaha National Bank Of Omaha.
Secretary James Buell. president Importers and Traders
T. Baker president National Bank,
Vies.FTesidsnts Alabama william II. Pratt president
Bank Of Mobile Mobile APsapSS1LogaG an. FS sscI Rst
LOUIS MoaDe president Nevada Bank san Francisco Colo
yer conneetieut Land swi president AmoTIean Ma
tional Bank, hartford Dakota-James G. MGNy president
First National Bank YauktoD Delaware-Etwald Beiis,
president Fist National Bank Wilmington District Of co
lumbia-John A. j. Creswen, president Czens National
Fora-yames NJ shoemaker cashier First National
Citizens National Back OF Georgia, Atlanta ldaioJames
H. McCarty president First National BsnK Boise Sb1 III
bank Chicago. IHdiana-K A. w. Davis cashier Indiana
dent Citizens National Ban Topeka Kansas-John y
Muivane Topeka Bank, T0ueka KentuckyJoh W.
Proctor cashier Central Bank Danye. LOUISIANA
- Lnria, cashier Louisiana national Bank neWOI an5'
MaTyand-Henry A. Thompson president National r BaH
a sir assisii NaIona Ink salem MIcbigan Henry T..
BALDWIN president second Natoia Bank Detroit Mime
Ss.ssp@Gs rye 81 Klein cashier .5sPP VALLEY
Bank Vicksburg Missouri-Ruius q. Lakeland president
Boatmens savings Bank 81 Louis M9n'a9aLsamuei ~
Hanser president fst N at1na % Natinnat RAM
Omaha neyaoa-Ge9Tge Iany president larson My
INST National bank Nashua NewJersey Alexander u.
Wallace president rst National Bank Jersey civ
Pc Sew,York jacob D. Verni,ye PRESIDENT MeIeasnls
president Bank Of NewllanoyeE wilmington o6o-Daniel
Oregon Henry W. Corloit United states and
presidtn First National Bank Portland PenDsylvana
adsighis Rhode island-Edward a. Green National Bank
S 81 First Naiionai Bank C6srIeson TenneseeH e
Gsrih president German National Bank Memphis TeXn9T
o6pef president Dcseret Natl ,Ua Bank CITY.
Rs5E RafssSp T. M Bsin IT, cashier
h5eaangs t Nsgaa GA t eaSe West yrhaJ HeioB
Vance president Exchange Bsnt' Wheeing' &
wycming-Edward Irving. president Wyoming National
Bank Laramie.
The Executive Council reported regard TO the prop
ositon Of s. W. RoweI. OF Rutland, VT. made yes
terday that in the light OF recent decisions by the
oonr,s IL was unnecessary to take any action at present
Mr. RoweI had suggested that efforts be made to pro-
cure the amendment OF the National Banking Act in
such way as make Il legal for National bank TO
take per cent In any State where usury laws limited
the rate Of interest per cent. 10 was at first sug
qested 10 postpone the whole matter indefinitely, but
the convention finally decided TO lay It over until the
meeting next year.
The convention voted 70 refer the statistics presented
Yesterday by J. d. Yermiyo, OF New-YOrk. concerning
inc reduction OF bank capital TO the Executive Council
with authority print such parts as the council may
think proper The council was authorized 20 nil any va
raucles n the list OF yicepesdents and 20 have the
proceedings OF the convention printed N pamphlet form
Aresouton OF thanks TO President Hail. for ms services
dnrng the last three years. adopted. In his ae-
knowedgment of this be said that It desirable and
imp,rtan 20 increase far possible the Interest IN
the West and South IN the work OF the association and
IN the objects which It sought 10 attain The East and
especially Nev-York and New England, had been most
prominent IN these hitherto and the earnest CO.
opcrsop Of bankers IN the Western aud Southern States
should be secured For that he had favored the
election OF a Western man. Ike Mr.. Mitchell, as preSi-
dent Of the association.
committee appointed for the purpose at the Phila-
dephla meeting years reported on the interest
and usury laws statutes OF limitation and legi'aton on
dys OF grace In the various sates The report the
prrscnt condition Of laws these subjects through
out the country IL was referred to the Executive Coun
ci which VIII public those parts OF 1t which 1t Is
considered desirable print letter and tables OF sta
stles received nom tie Commissioner OF Internal Rev.
enuc took the same course
ON account OF the lack OF time the following papers
were TO the Executive Council without reading
ON bank taxation papers by j. NOns, Of Iowa, d. NJ.
Reid OF Madison Ind. @. d. Riyes, Of Lebanon Penn;
ON the usury laws OF Pennsyvania, papers by l.. IL.
Williams of Pttsburg and f. +. Torrey OF Honesdale;
and ON the cieaing house system the Unltod States
paper by DIR. George Marsand, Of New-YOrk.
Mr. Butler OF NeW-Hayen, spoke OF the importance OF
the subject Of bank taxation aud the adyisabty OF die
cussipg it freely.
d. J. Falls Of Cincinnati. read paper on bank taxa
ton He dwelt upon tie inydious and unjust charac
ter OF the enormous burdens banking The present
system he said Is injurious alike 10 the investor and TO
every business community In which bank Is located
II IL tre that the necessities Of the Government
great and IL Is Obliged seek for source Of reve
nue Bpt A. would be directly 10 the damage Of
the Government aud the country TO drive capital out
Of banking 20 lessen the stability of business and TO
npair the value Of invested capital as onerous taxo-
zion IL doing Banks taxed here more heavily than
In any other cO1ntfy. First there u the tax OF per
cent on circulation There would be no great injustice
ia this alone Tor bank need not have circulation
unless IL desired IT, But second, there Is direct tax
the only direct Federal tax leyied-Of q Of
per cent on all capital OF National ana State banks not
invested in United States bonds. This was a war
measure other war taxes have been repealed. tn
tax ia conceded to unjust but II Is continued cause
u IA so easy 10 collect Third there is tax OF q OF
uer cent ON deposits This e atly tax on indebted
ness by State laws are levied on credit sneh as
mortgages, etc This Ia the nrst tax on ueDtors It IN
debtedness There precedent ana NO JustinehiOn
Tor In exceut mat might makes right The argument Is
made In support Of tots taxation mat the noIetnueht
is gvur projection TO the banks Oppf, ssYe and hnf-
fui laws snow that the protection is OF stch CHAR
acfer as that winch the wolf gives 10 the lamb
Samuel Harris, OF Catskil expressed asl0nishmeht
that the outrageous bank taxation law had existed so
ioWg The burden pressed on the middle ana poorer
classes IL must all money hrers not on lendtrs III
ali the members OF the assocatiou should labor ear
etlv for tc repeal Of The law he thought II would be
reI,eaed within three weeks after Congress meets