Morning journal and courier., 1882-07-19
Wednesday Morning, July 19, 1882.
THE BANKERS CONVENTION.

A
 The convention of the American Bankers Association, convention which grows in interest and importance each year, will be held this year at Saratoga, on the 18th and 17th of next month. There are at the prss- ent time 7,136 banks in the United States, of
 which 2,159 are national banks, 1,O24 State
 banks and the remainder private and savings
 banks. Each one of these institutions Is en-
 titled to send one delegate to the convention,
 and such as do not designate their own off,
 cers to attend will be represented by vice
 president of the association, there being one
 for each State. Hence all banks will be rep
 resented in the convention and the summary
 of bank progress is thus rendered complete, the reports beirg made with view to ascer- tain the extent of the banking and industrial growth which has been made during the past year, the dangers which threaten the tinan- cial prosperity of the country, and the meth cd by which those perils can best be net and prevented.
 Among the reports to be laid before the convention will be one on bank taxation, showing what has been done and is doing to relieve the banking business from the mis- chievous, unjust and oppressive part of it's fiscal burdens. Among other subjects touched upon will be the expedients for extending the usefulness of the association, the com parative changes in the monetary situation during the year, the defects of our banking system and their remedies, the later aspects of the currency and silver questions, the re- cent and prospective demand in the for eign markets for American securities, the growth of industrial enterprise and productive power with it's dangers, the fluctuations of
 the past decade in the money market with their chief causes and results, the flow of capital from Europe and the recent and pro- spective changes in it's methods of invest ment the industrial improvement of the West
 and South, the financial and banking move- ments which are producing such widely diff ferent rates of progress in various sections of the country, and the influence of railroads and telegraphic facilities on the direction of comme~ and banking development here and abroad. The usual reports and statistical documents will also be presented on various financial topics, among which are the progress of recent bank legislation in our State Legis- latures, the best guarantees of fidelity in fidu- ciary officials, the banking aspects of the aug menting through trade between the West and Europe the growth of the clearing house sys- tenn in this country and abroad, the importance of ample cash reserves and of publicity in the accounts of our banks, the history and devel- opment of banking in the United States, in England and on the continent of Europe. One of the topics which will probably at tract much attention at the convention is that of the financial panic which some financial prophets have predicted as likely to cause ] trouble to the monetary movements of this
 country and Europe Although the nation is l prospering and growing richer every year. \ although our productive power is expanding with a rapidity never known before, and | the seven thousand banks, by whose operations and aid so important a part of this industrial and commercial activi- l ty is carried on, are for the most part report. | ed generally to be more sound, well managed
 and stable than in many previous periods of ! our national history, we are warned by the past history of our banking progress and in | dustrial growth that it would be presumptu
 ous to expect to avoid reaction. There are,
 however, good reasons for the belief that the apprehensions of panic are at present prema- ! ture, and that no immediate danger threatens
 the progress and activity of our economic l life as a nation. What our bankers antici- pate, what may he their best information,
 and with how much confidence they regard the financial situation we shall soon know. The bankers and bank officers among us have
 better means than almost any other class oi
 men for getting accurate knowledge of fnan
 cial facts, and what they have to say con-
 cerning the situation will be very interesting