The Providence news. (Providence [R.I.]) 1891-1906, 1892-04-21

sympathetic connection between clerks
and officers. the disRraceful failures OF
past years. which have 80 shaken the pup,
lie confidence. paralvzed business. anu
world, would In many cases have peen
averted, and some presidents and cashiers
of banks would not have found II neces-
sary to take n residence In Canada. ~ IL
my deliberate judgment that the ieauinn
officers Of bank can learn as much, IL not
more, concerning the financial status anu
significant characteristics OF their Gus
toners from the tellers and clerks tnan
can be CLEANED from the reports OF the
commercial agencies. With this chasm
successfully bridged, thee business OF the
banks Will be moro carefully, more eni-
ciently. and more safely conducted"
Next National Treasurer.
Senator Aldrich was next introduced
and was named as possibly the next secre.
tary Of the treasury. He spoke words OF
encouragement to those young In the bus-
mess and urged them to study deeply the
philosophy underlying economic and com
merclal science.
spoken upon the silver question, and this
question is one of transcendent impor-
tance to all. wish could feel as san.
guine as he Is regarding the outcome OF
It. wish could believe that within q
year whole section OF the country. Will
country be radically changed. The trou-
BILE of the planters Of the South Is not TO
sell their cotton for good money. We
are made to believe that they feel they can
always sell their cotton for good money,
but they want to do their own trading
with cheaper money. Tie cotton planter
knows he can sell his cotton in Liverpool
for a certain price in gold. The question
with him is how to pay his Northern cor
respondent in n cheaper money.
This desire of the South will not be
eradicated by campaign OF education.
wish could believe IL would be. 1t Is
surprising how often this country has re-
Cured to this question. to this madness.
How often has the desire for cheaper
money led nations to bankruptcy. Here
in New England there Is no difference OF
opinion. There is unanimity apparently
in all classes of the people in other sec
tions In the other direction. What fear
is, not so much the avarice and greed OF
the silver mine owners, as the ignorance
and misinformation of the great masses
of the people in certain sections.
"If the United States stops the use OF sil-
yer and stops issuing silver coin, which 1t
has made legal tender. what will take
it's place among the nations IL trades
with? It would not ruin the nation
financially. We could have every dollar
| of silver we have for currency now, or will
have for five years to come: and not sufier
| ing that Mr.. Harter should desire to OBJ
| tain note-issuing power aside from the
| national banks but maintain there will
| be no such law passed in the lifetime ol
men now living. The day for securing m
agreement for a national banking law
which allows other notes than those based
| on bonds of the United States to be issued
| is not likely TO come soon.
"The duty of the present hour, which
every legislator should try to impress, IL
to stop this madness, this degrading, de
basing functuation of the currency, by
| international agreement or national
| measure That accomplished, great
step will be taken, but then you are con-
| fronted with the question what to do fol
a currency. We will not go back to state
banks again. but what shall it be? Wha
position shall silver holdfI simply wisi
to IMPRESS this one Of large number o.
questions upon you, and to urge you U
study the question-what shall be ou
| currency of the future! hope 1t will D'
one which will rebound to the Interest
and welfare of this country"
During the reception and banquet
series Of popular selections were rendered
by Smiths Orchestra, while between tn
speeches u quartet composed OF John u
Williams, Robert Brown, Frank w
Reed and George A. Freeman. all OF tn
fraternity. discoursed sweet music
The affair was an exceedingly enjoy
8Dle one anu ItuCCtcu SIcds CiSAie VII VI.
committee, Henry Il. Dean, George A
Freeman, William II. Sayles, John NJ
Alderman, Benjamin w. Gallup and b. b
Manchester.
The business meeting of the association
was held previous to the reception an,
the following officers were elected: Pres
dent, George G. Noyes, cashier of tn
Globe National Bank; vice president
William w Paine, cashier Of the Secon
National Bank: secretary, George
Barnes of the First National Bank an
treasurer Eben McGregor of the Roge
Williams National Bank.