The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-08-14
The American Bankers Association
Meet In Annual Convention.
IMPORTANT PROCEEDINGS HAD.
Taking Steps to Perpetuate the Institu-
tlon-It is the Best Safe Guard of
Business-Experience Teachesl
This-Addresses, Etc.

DENT OF THE ASSOCIATION.
Gentlemen OF the Convention:
Upon me has been imposed the pleas
ing duty of bidding you welcome to this
the tenth annual meeting Of the Ameri-
can Bankers Association. The associa-
ton is to be congratulated on so large
and respectable representation, and
you who are here present are TO be con-
graduated that you have had the cour-
age and good sense to break away from
office and desk to indulge in this pleas
ant reunion, to take part in the agreea-
bic but important work we have before
us. AS look into your faces ! can see
the lines of care already softening under
theintluence of mutual words OF greeting
and goodwill. This valuable, III Incl
dental, feature TO more serious labors ii
must be the desire of each of us to inn
prove.
The association you represent en-
bodies ideas of great value not only TO
the business of banking, to which you
stand more Immediately related, but TO
the general welfare of the whole busi-
ness public. For, it must be admitted
as true, that whatever goes to lay more
SECURE FOUNDATIONS
| 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 it could possess
| into machine for selt-aggrandizement,
but has proposed for itself solely broad
and general ends. No delegation from
your association has ever yet appeared
in Legislative halls to secure measures
calculated to advantage the banking
class alone; indeed, those who are wise
clearly understand that the banking
business thrives best when all other
business thrives, and they argue i'll who
try to persuade that the influence of
banks or bank capital is or can be other
wise than beneficial to every branch of
industry, labor and trade.
As an association, we are yet young.
Nine wears covers our entire history.
We can asyet point to no
DISTINGUISHED ACHIEVEMENT.
but II we consider the progress made
from year to year in advancing correct
ideas and in opening questions for fu-
ture realization, these give strong assur-
ance of future good.
As bankers, we find ourselves in
volved in responsibilities of high and
delicate order. For their Just discharge,
firm and steady character, a fair intel
ligence and the peculiar wisdom furn-
ished by experience IL required. I'M
happily, in the rapid developments of
new country Ike ours, where cities
spring up in n dav. and new States are
created in decaue, that slow-growing
plant we call experience, has not had
e time to ripen. Material interests OF
great Importance come to be committed
to the care of the
UNFRAMED AND INEXPERIENCED.
This fact, apparent in general business
affairs, often noticeable in the 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, so frequently surprise us.
While II Is not incumbent upon us to
undertake the work of reform in general
matters of business, ii is for us as bank
ers to fully recognize the responsibility
resting upon us in our peculiar depart
ment to establish and maintain such
standards as experience has approved
and confirmed. To this work your asso-
citation stands fully committed. In
countries much older than ours, similar
needs are calling forth apprt pri-
ate action. In Great Britain,
an association known as the
London Bankers Institute has been es-
! tablished. 1t embodies ideas and cher
I ishes aims quite similar to our own.
Its membership is superior TO our own I'm
number, and embraces in its list the
most prominent names in
/ ENGLISH FINANCBs.
{ 1t 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 ac-
i. uuainted with that organization and its
D practical workings. The field covered
e by the London Association, and marked
q out for occupation by our own, includes
Y some of the most delicate and complex
relations developed in high civillza-
j. tion. 1t is hopeful token that these
e relations are beginning to receive COM
Z prehensive and patient study.
1t must be recognized that an impor-
tant practical feature of the work of our
Association Is educational i'm character.
Educational to many of us who feel u
; sense of incompleteness In much that is
essential for us to know, and not TO us
q only, but TO that great body of untried
men who will assume our responsible
ties when we lay them aside. Thus we
4 shall reduce abstract theories TO rational
' practice, and out OF wise practice we
> shall develop In turn high and rational
theories.
p accomplished? | venture TO suggest az
, a powerful auxiliary aid thereto
a COMPLETE FINANCIAL LIBRARY.
Z 1t would be worthy work, quite with
i in the scope of our direct aims and ef-
/ 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
! ments of the civilized world. Such a Ii
\ brary would be standing invitation TO
scholars from all countries 10 explore its
, hidden treasure, and would inspire the
humblest of us all with new zeal in ac-
!. quiring the Information such store
n house would contain. This accom-
\ plishod, other branches Of practical work
will naturally appear, and we may, at
, last, leave behind us some fitting mOnu-
n ment of our associated desire 10 Inn
I prove and benefit mankind.
1t need not be feared that your asso-
citation will languish and die for lack of
q objects demanding your co operating
/ thought and labor, From year TO year
: new questions will arise, and new oh
i iects desirable of attainment will pre-
. sent themselves.
y Large questions in our National
4 finances remain TO be settled,
n QUESTIONS TOUCHING
at vital point every industrial interest
u and affecting by their sympathetic but
a. POW eriui action our own mture We'll.
9 being. The National Debt, Taxation
q Coinage Laws, The Currency of the
!. Future. Bankruptcy Legislation, these
~ are few OF the subjects upon which we
should gain wise and just views, and tc
a procure the proper settlement OF which
our iudicious influence should be ex
ertcd.
At present we meet in the midst o
If some Of the most interesting and mos
n important phenomena OF finance, the re
W | anlt nf NNhnt IL tAnnulnrlN lrnnkVn oa
G. panic. A panic is possible at any time
Mt IL means an unreasonable fear amongs
le great mass of people. At such time
IN men doubt everything. They dlstrus
e. their own Judgment, and refuse TO acl
m or IL they act, Il Is IN wild and unreas