The Iola register., 1889-10-04
BANKERS IN COUNCIL.


Meeting Of the American Bankers ut Kan
sas City-A Cordial Welcome and 9
Baaquet.
KANSAS CrTY, Mo-, Sept 26-It was
10:45 o'clock yesterday morning when
President Parsons raped his gavel on
the chairman's desk at the Warder Grand
Opera House and called to order the con.
vention Of the American Bankers Asse.
ciation.
President J. & Chick. of the Kansas
City clearing house, in behalf of the busi-
ness men and bankers of the city, ex.
tended to the convention a hearty wei.
come to Kansas City. He thanked the
convention for selecting Kansas City as
the place of holding their convention, and,
not attempting to make a speech, closed
by introducing Mayor Davenport, who
spoke on the advantages of Kansas City
and extended the liberties of the munich
pA,ity TO the visitora
Mr.. Chick then introduced Governor
Francis. The Governor. welcomed The
guests to The State of Missouri in most
pleasing speech. Missouri he said. was
fifth in population and in representation.
1t was first in its natural resources
"Where on EARTH" he asked, 'tcould you
find q better place for investment"s
We welcome you among us. and If you
wish to see an example of Western thrift
we point you to the mighty young city on
the banks of the Kaw." t,t u
Mr. Parsons took the floor and after
briefly thanking the preceding speakers
for the welcome extended, began his
formal address by a general glance over
the history OF the country, reviewing the
revolution and calling down a burst Of
applause by eulogy of George Washing
ton. He gave an outline of the business
Advancement of the country and then
came to the sui ject of banks and banking
and dealt in facts and figures.
Discussing National currency he depre-
Gated the issue of legal tender currency.
"A national currency always redeemable
at the money centers would be always
desirable" If the Government could in
duce the other nations to join with it in
securing an International coinage it would
be. he thought, a long step in advance
ment. He called the attention of the con-
vention TO the question of a standard
bank note paper and other matters of i'm
terest to the convention and commended
them to the consideration of the conven-
tion.
Following the address of the president
Mr.. William P. st. John read an able
technical paper on legal tender. he eN-
pressed himself as opposed to free coin
age, and outlined as a substitute the
proposition that the Secretary of ths
Treasury be required to buy aud coin four
million dollars worth of bullion each
month as now required. providing that
not more than 99k cents or 412H grains
OF silver be the amount of silver in one
dollar; that with the coinage Of silver.
the legal tender notes be withdrawn. dol
lar for dollar. as the silver is issued; that
gold and silver certificates be made legal
tender. He claimed that that solved the
great question of retiring the legal tenier
notes rapidly and without dimir ishine
the sum of money circulating at par. r.
a carefully prepared argument he ex-
planned and defended his proposition. Ee
was listened to with the greatest interest
The Interstate Commerce Commiss sion
having taken seats on the stage during
the reading of the paper, President Par
sons then introduced the members to the
convention and each member responded
briefly to the call for a speech Major
Warner spoke briefly. In the evening q
grand banquet was given to the dele,
gates, fully one thousand being in attend
anca