Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-02
A NEW SCHEME IS ON.
Leading Bankers Arranging for
Another Organization.
THE OLD ONE NOT SUCCESSFUL.
Delegates Hereafter to Be Chosen by States
or by Cities.
OFF FOR THE SAN FRANCISCO MEETING

Thomas P. Day, cashier of the People
| National Bank will leave next week for
| San Francisco to attend the annual conven-
| ton of national bankers at that city, Mr..
Day is probably the only Pittsburger who
will attend the convention, which. it is
hought by many bankers, will be the last
| ield BY the present organization. A new
organization is contemplated by the leading
bankers of the larger cities of the country.
Meetings looking to the formation of the
new association have already been held in
New York. The new plan is to have dele
gates elected from each State or from each
city with view to having the annual con-
ventions composed of only the leading
bankers and financiers of the country.
The approaching convention of National
Bank men at San Francisco will call to-
gether a large number of that fraternity
from all parts of the United States. These
meetings are looked forward to by bankers
of the country with great deal OF pleasure
on account of the opportunity they give for
forming personal acquaintances with corre-
spondents with whom they have had busi-
ness relations for many years but otherwise
Have n vrry Pleasant Tim..
The real business of the convention is not
onerous and generally consists in calling
the roll and the reading of few essays by
delegates from different parts of the coun-
try. A singular feature of this organiza
ton is that its members are not looked upon
in any way as representatives of the locality
from which they come, but simply of the
bank with which they are connected. Any
bank which will pay SO dues per annum is
entitled to send a member to take part in
the deliberations of the convention, whether
they represent capital of $50, 900 or $780,
900, 900.
The character ofthe onvention is greatly
changed since It's FIRST inception, when the
leading banks Of the United States and of
New York and the Eastern cities took an
active part in its deliberations. Within the
last few years it has been looked upon more
as a channel for social intercourse, and
many bank officers postpone their annual
vacation until this time in order that they
may attend the meeting of the Bankers
Convention.
1t is likely there will be change in this
respect A reorganization has been pro-
posed by some of the more eminent finan-
cers of the country who formerly took an
active part in the deliberations and work of
the Bankers Association, and who did
much to shape the financial affairs of the
country and to devise and throw about the
national banking system the projections
and restrictions that have made it the most
admirable scheme of banking, with the
best, safest and most satisfactory supply of
currency the world has ever known.
Members viii Represent Districts.
They propose to recast the present asso-
citation or form new one, where delegates
would be elected from States or prescribed
localities, who would annually, or oftener
if desired, meet and consider the affairs of
the national banks.
1t would be easily seen that an associa-
tion formed upon such plan, whose men,
bers were chosen on account of their
peculiar fitness, experience and knowledge
of the wants of their own special locality,
would have very different status in the
eyes of the public, than the present assem-
blv, where simple connection with any
national bank and the payment of an an
nual fee of $40 are the only requirements of
members.
1t is claimed that this would elevate the
character of the association from an annual
junketing, to permanent and useful organ
ization which would be ever on the alert to
protect not only the interests of the banks
themselves, but the entire public.