New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-27
THE BANKERS CONVENTION.
A LIVELY DISCUSSION OVER MR.. ST. JOHNS
PROPOSITION.
DELEGATES AGREE TO TAKE VOTE ON IT BY
MAIL-MR. PARSONS REELECTED PRES
IDENT OF THE ASSOCIATION.

Kansas City, Mo-. Sept 26.--The bankers slept late
This morning after last nights banquet. and It was
after ii O'Clock before President Parsons called the
second session OF their annual convention 10 order.
The Rev Henry Hopkins, pastor Of tho First Congre-
gational Church Of this city, opened the proceedings
with prayer. Various papers on subjects Of interest
10 bankers and several resolutions OF general import
were referred without reading to the Executive Coun-
Gil 10 be appointed for tho ensuing Xear with In
sructions 70 report at the next annual meeting. A
resolution from the NewYork delcgaS%,-/ recommend
ing to Congress that such action DO taken will
revive the American merchant marine. adopted.
A resolution offered by Mr.. White. Of Cincinnati. by
request Of the Fourth National Bank Of Chicago call
Ing upon Congress to provide for at least one more
regular statement yearly Of the condition OF the Ma
uona banks, was adopted
Mr. snced, of Kentucky. offered resolution that it
was the sense of the convention that Section 51os OF
me Revised Statutes Of the United States covering
national banks should be amended by Congress as
TO expunge the clause covering forfeiture interest Mr.
sneed defended the resolution IN long speech. and
condemned usury laws in general Tho resolution
also proposed that all banks should be amenabe to
the State laws OF the State in which they located
Mr. Butler, OF Connecticut, condemned the law
He thought there should be laws governing the
OF Interestingly ought TO be allowed bo governed
by themselves. Supply and demand was the only law
that would operate Justly 10 both the oaner and Dor
rover. He urged the adoption of the resolution.
The resolution referred to a special committee
consisting OF j. R. Mulvane. Of Topeka; W. p. John
son, Of Birmingham Ala and ]. ID. Chick, OF Kansas
City. The committee REPORTED recommending that
Congress be requested to amend the law in question
so that the penalty would be the forfeiture of only
the amount of interest over the legal amount.
The lveliest discussion Of the convention occurred
the report Of the Executive Council recommend
ing that the paper read by Mr.. st. John yesterday,
outlining a proposition to require the Treasurer OF
the United States to coin 100000 Of silver each
month and retire in the proportion the United
States legaender notes, that without affecting the
amount OF currency circulating at par the paper
could be retired convenenty be referred to the next
Executive Council. The accommodation provoked
a long debate, the question being whether the matter
should be referred or submitted to immediate
discussion by the convention During the discussion
John Jag Knox was brought to his feet by the state
ment Of a Western delegate that he a gold mono
metalist. Mr.. Knox declared that he was not a
believer In gold the sole coin metal, but that he
in favor Of gold the standard. Mr., Knox
moved that the Executive Council consider in con
nection with Nj Johns proposition the question
OF issuing silver certificates 70 the tl value OF the
silver issued In coin.
Mr.. ST. John opposed tie motion, and called FOR
the yeas and nays. lie did not think that prop
OSitOn entirely foreign 10 the one he had placed
before the convention should be Tackled on r. 1t to
After some discussion Mr. Knox withdrew his motion,
and a plan adopted to fully consider Mr. St
Johns proposition and take vote on 1t by mall after
the Executive Council had sent It's report - the del
egates.
Tho Nominating Committee made It's report recon-
rncnd.ug the recollection OF Charles Parsons OF ST.
Louis as pres dent Of tho association, and Morton
McMchae vicc-prasIdent. The report was adopted
The Executive Council, made up Of one dcleG--e
from each State represented and the viccprcsidents
recommended by the Nominating Committee and elect
ed Is, with few exceptions, the same as last year