The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-06-09

fH.Hf IN. ttlIIIIN NitInN 10 nLl.'NH
Sorry can't to convention go:
Would enjoy papers and frolic.
but have got the banker collie.
In his report Presidential. h. Lane spoke
I az the organization iu Macon last year. az
which time about forty banks were
/ represented. During the year he said. a
( great many banks have been added 10
. our list, and now there are only about
. twenty-five banks and bankers in the
. state that are not members of the assO-
/ citation He expressed the hope that
( every bank in tine state would toe enrolled
. before the next meeting. He acknowl-
/ edged his appreciation 10 the con-
vention for electing him president, and
said he trusted it would be his good fort
une TO attend many of the meeting in
/ future.
The report Of the executive council,
read by Mr.. James 5. Davis. stated that
the council had held a meeting in Atlanta
! and had discussed, among other things,
/ general bagking law for Georgia and the
! Twitty bill.
/ Secretary Hillyer's report showed that
/ fifty members were enrolled when the
/ association was organized at Macon,
which number had since been increased
/ TO ninety-six and then by reason of five
( failures decreased to nincty-One. Three
of these failures were in Brunswick.
THE SECURITY OF SAVINGS.
The paper by Mr. William Slade of
| Columbus on the security of savings was
one of the strongest of its kind that has
been read before such an association in
years.
1t dealt largely with the present fnau-
cial situation and the causes from which
it resulted. The distress, he said, was
caused by unwise national legislation.
The wholesale retirement of money was
due to the strong fear of security Wrong
full national legislation, he said, was at
the root Of the whole matter.
Mr.. Slade deprecated the widespread
demand for a free silver platform, and
said that it did not mean that the country
would have an honest dollar. 1t was a
scheme, he said, to sell silver bullion by
Offering a bride to the debtors Of the
country but the country would gain no
advantage. The United States purchases
of bullion was largely responsible, he
thought, for keeping up the present price.
II e said he admired the cheek OF the news
papers who tell the farmer TO stop raising
cotton and who want to put a bounty on
the silver industry. He thought they
could better employ themselves in work
ing for the repeal of the present bounty
on silver.
The confidence in everything he said
was being destroyed by the evil workings
of the Sherman law. No fixed ratio, he
said. could exist between any two COM
modities of commerce. Some of the GeOr-
gia press, said Mr.. Slade, are generous
and just, and show no Partially to any
one industry. Among these is the SAvAN-
NAH MORNING News. They have long
been outspoken in their advocacy of sound
money. The farmers, he said, do not
want silver, but paper money. If silver
dollar is cut in two and taken to the mint
you get O. cents for it, but for mutilated
paper dollar you get 100 cents.
COUNTRY BANKS AND BANKERS.
Mr. f. S. Etheridge of jackson read an
interesting paper on country banks and
bankers and their relations to city banks.
He spoke Of the fact that there were
sixty-siY towns in Georgia, each with one
single bank, yet the capitalization and de-
posits of these banks amounted to &c.,
0S0000.
The country bank, he said, was neces-
sary to our makeup. The city bank gets
the business from the country condensed
and guaranteed. The city bank, he
thought, often invaded the territory of
the country bank by Offering "a premium
on daily balances. Nine out of ten of the
countrymen who so to the city bankers,
he asserted, had been refused at home.
In the collection business the city and
country banks came in contact every day.
The city banks work all sorts Of schemes,
he said, to make the country
banks pay all the expenses
of collection Farmers, he said, would
rarely buy exchange and often refused
drafts with exchange. He referred to
what he called the pen point fallacy and
said nearly all banks were put upon that
list and still changes were made. This
matter he thought should be regulated
through the clearing houses.
SWOTTD Rr HANDLED WITH CARE
Mr. James H. Hunter read an excellent
paper on credits He thought there
there should be a free Interchange of
views between all bankers upon any
thing involving the question of credits.
III is one of the most valuable things to
know whom to trust He thought "a
banks customers should be more willing
to conide in their banks and give them
statements of their condition, thereby
benehtinG themselves in that they could
! get moro credit We are obliged, he
| said, to show up the condition OF our
| banks and their customers should OPP
/ pTeciate this fact. To a certain extent
/ the mercantile agencies were guide to
/ credits, but there should also be confer
/ ence among the baniscrs Overwhelming
/ should never be allowed under any cir
/ cumstances. as it led to evils.
! Gold in Georgia was the subject of a
very interesting paper by Capt Robert j.
/ Lowry OF Atlanta He began by referring
! to the natural advantages Of Savannah,
/ which made it the foremost commercial
/ city in this section.
! He did not intend, he said, to discuss
/ the battle of the standards, or enter
/ upon a discussion Of ratios be-
/ tween gold and silver. He began
with the earliest discovery of
/ gold in Georgia when it was invaded by
/ De Soto for purposes of gain. The value
/ Of the gold mined in Georgia up to 1882
/ was 1872, 600, while the total value up to
1882 was s., 49,, S52, not including that OBJ
tanned during the civil war and other gold
unaccounted for. The total, he said
| would probably reach Sl0.000,O00.
On motion of Col. c.. II. Olmstead the
thanks of the convention were rendered
unanimously TO the delegates who read
| papers
| REPEAL THE SHERMAN LAW.
Mr.. 4. B. Neal of Atlanta offered res
Olution, which he said had been adopted
by the Clearing House Association of At
lanta, urging the repeal of the Sherman
silver law.
Mr.. Burden thought this resolution
should come up under the head of unfin-
ished business. He thought also that the
subject it referred TO, the repeal of the
Sherman law, substitute for It, and the
repeal of the state bank tax should be
dealt with separately.