The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-05-25
TEXAS STATE BANKERS.
THIRD AND LAST DAY OF THEIR
ANNUAL MEETING.
Favor Repeal Of Tax on State Banks, But
Oppose Banks Of Issue-0Hicers Are
Elected and the Convention Ad-
journs to Meet Next Year
Special to The Statesman

special 10 Inc statesman.
SAN ANTONIO, May l8.-The third
and last days session of the annual
convention of the Texas Bankers as
ISOLATION began this morning by the
reading of invitations from the Asso-
citation of Bankers of Fort Worth and
from the bankers, merchants and citi-
zens of Galveston to meet in those
cities next year. The matter was laid
over temporarily.
President Woodbridge appointed
II. J. Grace of Galveston, g. s. Levi Of
Victoria, G. f. Smith of McGregor,
e. o. Tension of Dallas, j. c. Miller,
Jr., of Gonzales, Theodore Bulow of
Victoria, and P. A. Ludlow of Fort
Worth, as delegates to the worlds
ongress of bankers to be held in
Chicago next June.
The members of the association were
then invited to participate in q dis
cussion of the subject: "The Tax on
State Banks. Should il be repealed"
resolution was adopted:
Resolved, That this convention ia.
vors the repeal Of the 10 per cent tax
on state banks, but Is opposed to
state banks of ISSUE"
The following resolutions and rec
concentrations were then adopted:
Resolved, That our senators and
repr esentatives be requested to favor
an amendment of the present national
bank law so as to admit of other secu
rites being held for national bank
circulation and that the tax oil one per
cent on circulation be repealed.
We do not recommend that the as
ISOLATION take any action on the ex-
emption of capital engaged in manu-
featuring at this time.
We deprecate the present system OF
collections at par, but are unable to
offer any suggestions that would lead
to q practical solution of the question,
yet we recommend to the association
and to the individucl members thereof
the careful consideration OF this ques-
ton.
We recommend that our senators
and representatives be requested to
urge the establishment of @ SUBJ
treasury in Texas.
We recommend that the executive
committee be requested to provide for
number of standing committees and
thathe president appoint the men,
bers of said committees.
We recommend that the Legislature
favor legislation which will establish
q convenient number OF state deposit
tories.
The silver question then came up
for consideration. The following Sc
ries of resolutions were introduced
and discussion followed which was
participated in by q. A. Levi, Col. j.
+. Miller, w. Goodrich Jones, A. s..
Reed and others.
Resolved, That this association be.
lieves that the law known as the
Sherman act should be repealed.
Resolved, That this association is in
opposition to the free and unlimited
coinage of silver.
Resolved, That this association be-
Iieves that the best interests OF the
people would be subserved by adher-
ence to the single or gold standard of
value.
Each resolution was taken up sepa-
ralely and voted upon, resulting in
the convention unanimously fayorlng
the repeal of the Sherman act. The
association then went on record as be-
ing unanimously opposed to the free
and unlim tied coinage of silver. The
last resolution, in reference to the sim
gle or gold standard, provoked a
great deal of discussion, but no def
mite action was taken by the assocla'