Savannah morning news. [volume] (Savannah) 1868-1887, 1886-08-12
BANKERS GO TO BOSTON.
ANNUAL CONVENTION OF THE
NATIONAL ASSOCIATION.


address Before an Unusually Large
number OF Members-Msny Banquets
an the PrOgramme--The AssOciatlon's
Present Membership ,466.
BOsroN. Aug. 1.-THE annual conven-
ton Of the National Association of Amerl-
csn Bankers was called to order in Horti-
cnltural Hall by President Lyman j.
Gage. at 10 O'Clock this morning, with
more than usually full attendance OF dele
gates, Rev. Phillips Brooks opened the
proceedings with prayer, after which
President Gage delivered his opening ad-
dress. T. W. Hart, Of Boston, delivered
an address of welcome. BE announced
that the members of the association would
be entertained at banquet at the Hotel
Brunswick tonight, and that an excur-
sion down the harbor would be made to-
morrow. and that the association would
he entertained at dinner at the Parker
House tomorrow night. The Secretary
reported the present membership OF the
association as l, ,466, an increase of about
100 during the year, the increase being
greatest in the South and West.
PRESIDENT CAGES ADDRESS.
The following are extracts from the adj
dress OF President Gage:
: AS bankers, we lind ourselves op-
pressed by our own peculiar enemies.
Many of these we must avoid or resist
alone. Others can only be overcome by
the union of defensive powers. The COM
plete dependence of modern commerce
upon Instruments of credit, such as
checks, drafts, promissory notes and bills
Of ading, offers to the unscrdpulous an
inviting opportunity for the quick gains
of fraud aud forgery. The degree to
which commercial transactions are him
dered or made insecure by these
possibilities or the actual losses
suffered by the community there
from may not be definitely stated, but
good deal is known. 1t is known, for In
stance, that three distinct combinations
of persons, very skillful and bold in their
have, within the past year,
carried on systematic, and to a consider
able extent, successful forgeries. The
losses to banks over the United States
from this source, within a year, have
probably aggregated more than one hun
dred thousand dollars; and If the modest
and basnful who have suffered from these
would come in with their
the total would no doubt be con-
sideraby increased.
HIS FIRST VISIT TO BOSTON.
When a young man l made my first
visit to Boston, and while here | took the
earliest opportunity to call upon an
esteemed banking correspondent. The
President of the bank, man of ripe years
and great experience, received me with
kind words, and in answer to inquiries
gave much valuable Information concern
,,,., 81 at tb,N a.
increasing financial Importance and It's
brilliant prospective future. When /
asked him, however, if he had visited that
great West whose resources aud future
Development were to furnish so largely
the elements of his eity's future growth
a look, half of pride and half of
chagrin, passed over his face as
he answered: "No, sir; have
never been west of the Hudson
river. The door of that vault near you"
be continued, 81 have locked with my
own hands every night for eight years.
ContesSedly guilty myself OF being an ab-
sentee from official duties, retired from
the interview burdened with sense OF
sell-reproacb; but from this a tull re-
cOyery was had when, fe W months later,
the fact was developed that this faithful,
palhstaklng president had been engaged
lof many years in locking up each sue
cesslYe night steadily diminishing pOr-
Iloh oil the capital and surplus of his bank.
TOT IL lnen appeared that his cashier,
equally faithful in personal attendance,
led, by the aid OF peculiar methods in his
accounts, abstracted over half a million
dollars from the banks resources. This
Iehllnlscence-toO personal perhaps for
tihe and place-may be pardOned, be-
cause 1t illustrates an old truth that ''to
Va fanl q. \
occasionally 90 abrOad;" but chiefly be-
csuse 1t brings clearly before us one of
.uose disastrous events which it is an OBJ
eut OF your association to render less fire.
yuehV' and II possible, wholly prevent.
Ii IL were only to confer together for the
sue purpose of rendering less frequent
i ooVulIeAces or this kind--Occurrences bV
"llch SO naturally and necessarily our
yaHlhg Is brought into disrepute. and the
mmedlBte interests OF all made sympa-
rueuealy to snffer-yOur association
"'u'O .nd abundant reason to exist.
THE DEMAGOGUEs.
, II was While good man slept that the
eaelny s0Wed tares, and in government
1ue people by the people, we need not
q Ue suF Fprsed that demag0gues pander TO
Il itassioh' nor that political tricksters seek
Il ;"SVonIuse ;oSIg and mislead. 1t is because of
sauluerence or hOpelessness in the con-
iallFe that the field is too much left to
IN inVm pefnIclous labors. 1t will be said, !
answer TO these suggestions, that a
i"e' Is business man, pure aud SIM
yi,l 'Ial as banker he has no concern
koe. polIucs; that he is simply a shop !
orie' VINO sells the use OF money. |
cyo. 'uI consideration helps forward the |
s,6-'aHges OF the country, and that out !
1Ji, VI 'nese functions he has no concern. !
thn answer ls but statement of half
uuth' is true that in sense he is !
M ,U,pNeeper, but shopkeeper the value |
muse wares are determined by the |
f6is % al slate OF public welfare. Beyond |
aso ne y citizen, and as "a citizen and |
Il IJiopNeeper deeply concerned in the |
4 lim..l sDol' ne mas the right to associate |
i THAI I,. WIN common interests in order |
at4d 'S7oclated counsel and by associ- |
ecotIoh ne may bring into the field OF !
coocerl auairs, III which be has SO great
1qed n ulS strongest influence. We
4 nr'rSy oe over modest IN claiming such I
gari,,iIrte' Associated industries of
.ayo Vs. Alnds, honorable In character, |
Already set us the example.
7. iuE CLEVELAND coNvooATIoN.
ferro'. recent convocation at Cleveland. |
than t0o ing BODY said to number more |
adont"IY'0VY' memorial to Congress was |
toB of 81 recommending certain legIsla- |
approy"," "'oSt original kind. 1t formally |
cali 1Ane ny vote what IL was pleased 10
and f'u, t'u act liking the measure of value |
money : 'Ngr ,I regulating the value OF |
cen, That act proviias tbst nor