The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1884-08-21
SARATOGA COSyLNTIOS,
The Americas Hackers Association
Meet In Annual Convention.
IMPORTANT PROCEEDINGS HAD
Tsling step. To rorp"tu'ie III" in-'iin-
tion-u IL IN. Hest safc-Uusrd Of
business ESp-rienre Teaches
This-Addrssses, Eto.

SARATOGA. n, y, Aug. ls.-Tho
American Bankers association as'
sembled In annual convention here this
morning. There was quite large nep
resentatiOn of proniinent bankers, ~.
meeting was called toordor ny frcsidoi,
Lyman j, Gage, oI Chicago, VINO duliNcrcd
riIHlNAIGUKAL ADDi Ess o. I'm rRLs!
DES of THE ASH I, iArioS'
Gentlemen Of the tonNrhliohi ,.,
Iipon me has been Imposed the pleas
ing duty of bidding you welcome To tins
the tenth annual meeting oi the Aincri'
can Bunksrs' Association, The associa-
.tion ia 10 be congratulated ON so large
and respectable representation, ana
Won whn are here present are 10 DO con
graduated that YOU have had tho cOur'
age and good SENSE Ia break away from
J Office and desk to indulge In this pleas
ant reunion, To take part In the aercea
bio but important work We have before
as. As look into your faces ! can see
the lines of care already soiteninS undor
the influence of mutual words of greeting
and GOODWILL. This valuable, II Incl
dontal, feature Ia more serious laDors IL
must DO the desire of each OF US TO I'M
prove.
The association you represent ON
bodies ideas of great value not only 10
the business of banking, to which you
stand more Immediately related, but t.
the general welfare of the whole bust
ness public, For, IL must be admitted
~ true, that whatever goes Ia lay moro
sECURu TO- NDAT oNs
for the business of banking, and what
ever Is done to perfect the machinery Of
the worlds exchanges, Is of high value
To the whole industrial system. To you
belongs the honor of having formed an
association that has not sought to ag-
gregate the great power II could possess
into u machine for sellraggrandizemcnt,
but has proposed Tor itself solely broad
and general ends. No delegation from
your association has ever yet appeared
in legislative halls to secure measures
calculated to advantage tho banking
class alone; indeed, those who are wise
clearly understand that the banking
business thrives best when all other
business thrives, and they argue ill who
try to persuade that the influence OF
banks or bank capila al is or can be other.
wise than beneficial 10 every branch OF
industry, labor and trade.
As an association, We are yet young
Nine wears covers our entire history
We can as vet point to no
DIST NGuIsHED AcH1HvHMESrs
but il we consider the progress made
from year to year in advancing correct
ideas and in opening questions .or fu'
ture realization, these give strong assur'
ance of future good.
AS bankers, we find ourselves in
volyed i'm responsibilities of high and
delicate order. For their just discharge
firm and steady character, Il fair intel
ligence and the peculiar wisdom furn
ished by. experience is required: IN
new country like ours, where cities
spring up in day, and new States are
created in n decade, that slow growing
plant we call experience, has not had
time to ripen. Material interests Of
great importance come to be committed
to tho care of the
UNFRAMED AND ISEXPBRIENCED.
This fact, apparent in general business
affairs. often noticeable IN tho manage
ment of large corporations, has its Illus
trations also in the business OF banking
and il goes far towards explaining, if il
does not fully explain, the disasters
). which, 80 frequently surprise us.
While ii is not Incumbent upon us II
undertak" the work OF reform in general
matters OF business, it is for us rs bank
ers to fully recognize the responsibility
resting upon us in our peculiar depart
'Nsuent To establish and maintain such
y,tandards as experience has approved
and confirmed. To this work your asso
citation stands fully committed. In
needs are calling forth appropri
ate action. In Great Britain
an association known as the
London Bankers Institute has been eS
tablishcd. 1t embOdiss ideas and cher
is"es aims quite similar to our own
Its nom bership is superior toour own in
nuinl er, and embraces in its list the
most prominent names in
ENrL!SH FIN Noes.
Ii is expected that You will be furnished
with some interesting particulars of the
London Association by one of our mem
bers who has made himself well &C.
uuaintei with that organization and its
practical workings. The field covered
bv the London Association, and marked
out for occupation by our own, includes
some of the most delicate and complex
relations developed in high civiliza-
ton. 1t is hopeful token that these
relations arr beginning to receive COM
prehensivo aid patient stud y.
1t must be recognized that an impor-
tant practic Il feature of the work of our
Ass ,ciation is educational in character.
Educational 20 many of us who feel a
sense of nc mplcteness in much that is
essential for Us to know, and not to us
only, but to tn It great body of untried
men who will assume our responsible
ties when " ay them aside. Thus we
shall reduce abstract theories to rational
practice, and out of wise practice we
shall develop in turn high and rational
How can this practical object be best
accomplished? | venture to suggest as
powerful auxiliary aid thereto
A COMPLETE !rNAScIaL LIBRARY.
It would be worthy work, quite with
in tho scope Of our direct aims and Of
forts to establish at the proper point a
grand library which should contain all
the valuable literature upon banking,
general finance and political economy,
aud in which should be collected the
published statistics of all the govern