New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-08-15
PROBLEMS OF BANKING.


RESULTS OF THE BANKERS CONVENTION.
LARGE REPRESENTATIONS OF THE NORTH AND THE
wEsT-GOLD CERTIFICATES NEEDED-BANK TAX
ATION-DETEC1ON OF swINDLERs.
IRON A SPECIAL CORRESPONDENT THE TRrBUNE1
NIAGARA FALLS, N. Y, Aug. 14.-While
little appears on the surface having been accom-
plished by the convention Of the American Bankers
Association which has Just labOrs close,
In reality the gathering has been undoubtedly produc
tive OF much good to the banking interest of country
One OF the main objects Of the annual meeting OF bank
ers Is TO bring face to face the who handle the
money OF the country. In the OF their daily
business they know each other by their signatures only
and the object of tho association much to bring the
members together that they may become personally
acquainted with each other, for any other object
This year more attention has been given to the social
feature Of the Convention than ever before.
Rooms have been provided the International
Hotel for the exclusive use of the delegates
and they have been extensively patronzcd. When not
In convention the delegates found in groups
In different parts OF these and the balconies OF
the hotel and the casual listener discovered that
their conversation of banking and of the various
modes of conducting the routine banking affairs.
me result OF this discussion, 1t is expected will be more
uniformity in the practice OF the bankers the Nation
The gathering this year has been different character
from that which marked those which have gone before
and 1t is due to the change OF the place in which the
Convention was held While at Saratoga the faces
were met year after year. AMI as rue the representa-
proportion
from other sections OF the country At the Convention
which has just closed there were only six New-York
bankers ont OF nearly 300. And besides this the
ority OF those who attended did for the first time
There were more men present from the West and North
west than attended from those sections before
this respect the Convention n success.
USEFULNESS OF THE CONVENTION.
Viewing the Convention, however, in the practical
hight OF what II has accomplished there is certainly
for argument toits usefulness The majority pa
NOR yl hntn
interest to the localities to which they referred
valuc OF them 10 the Nation nj large 1t be admitted
was small without being nvidous might place in
the category OF such those which referred the
lumber trade in Michigan, the water power Of Niagara
the progress of Buffalo aud few others Of equally local
tenor. Again, almost without exception the papers
were so long that the reading OF them deprived
the delegates OF the opportunity OF discussing
questions OF verbal interest to themselves
Some of the productions, If printed in full
in THE TRIBUNE, would occupy between six and eight
columns. Bankers in dealing with their customers
probably brief and pointed In their remarks to
be regretted TINT in dcang with each other conven
tion that they have not adhered 10 their practice In
business The country however, hag to thank the Con
vcnticn for two things: It the Of giving to
the public Secretary Windoms clear and concise sum
mary of the operations OF the Treasury connection
with the National debt since the present Administration
came into power. and II also brought forth able paper
on banking and the currency o the country from John
j. Knox, Controller Of the Treasury
There were two other results of the meeting which, II
they are put into effect 1t is thought viii prove bcnc
fetal Ia the banking community least The first OF
these was the adoption Of resolution requesting the
Secretary of the Treasury, the deposit OF gold
Ir & n"n % ~ ,o any o le sun lreasnries IN sums OF not
- 49, 'ih fiVo I" 'SSue 'efu icltcs therefor The re-.
quest y made simply rs matter OF convenience and
Al profont tons ~ gold laly in New-Yuri in
adjusting balances. and the object Is TO do away
with the t,ansisr az ,.uost
i Is also contaminated. should the secrctry OF the
Treasury comply with the request o the Convention to
list tue cert icites as means oi transporting gold
ny ny cxrress Is not only costly, 6nt inc"nyenicui.
Ieved viii protoSt nak"r an n % wvi % 1T ~ y s DE-,
fraud, THEFT and robbery II is proposed that u
confidence man. Cor instance, succeeds in dcnudins
bank. ul particulars OF the fraud. t"xcthcr VITA 4
description Of pcrpetratog and ns methods shall
LorWarded to the teerotary N NewYork l. h 10 be the
tyery EVE nS 1 N i the ,ctogntr 81 is SAM tme c@nceang
to lac appointed, the Pnkcrtnn agency srsed to
Investigate all crmcsand when det1ction
pi',nioc s To he permitted, whether
common burglar or inan having political and social
lutnce.
SECRET AND IMPORTANT WORK.
Although. as has already been said the work OF the
Convention on Its face has not amounted Ia great deal
III practical result, much has been by the Execu-
tive Council which ia members VIII go far toward
accomplishing tne cherished wahes OF the bamkcrs
I" the county The Executive Council was, during the
days OF the Convention, in almost constant session. and
It's proceedings were surrounded with great
The Convention regarded by the active workers
the association more social tan business meetns
and taken to allow nothing go bef re It but
that which had been fully considered by the Executive
Council. bankers hold widely different views on huar-
cal questions gnd it felt safer discussion
on certain points rather than take the chance
uttcrance OF some llcOnsdered words
which might subsequently bc used the disadvantage
OF the Association It for this reason probably
thc al l-iportant question of bank taxation
c5Sed III the open meeting; but cvcry member
Convention know thai tnc Executive Council had the
lIu"f III tid, ana that IL talked ali
poets III It's secret nession
That portion OF Mr.. Ha.,ucs address on Canadian
banking, which referred TO the policy OF Dominion
Government In making banking practically free,
warmly nrplauded aS IL 5ust what the
ic convention desired In Lts country The Canadian
noNcrhihcht Mr. Hague said, had convinced tnat
| ny taxing bdik capital ii burdcncd tfac, hampcrcd
manufactures ana injured its However,
ie question was moi discussed In tn Conventions
delega IS toellnt tnat their ntercss the
hands Of the Council Another suhec wnicn was not
| lhe expiring bank charters. The majority OF
iclh nave only about one year run, and IL rs highly
important tnat some plan OF legislation should be
adopted whereby the business of the may
Inucd without nnicIncut. A siggestcd
when VIII enable .!ctn To closing
up their books and rcopening Others
Il new basis. Much tue OF the Executive Council
was spent III discussing the method, but result
VIII not be known probably until after tnc desired egs
lation las been scared
4 PARDON THOUGHT NECESSARY