Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-12-12
TEXAS BANKERS ASSOCIATION,
ITS CHARACTER PURELY SOCIAL
AND EDUCATIONAL.
banks Not the Exclusive Property
of the Rich--Manufacturin Indus
tries should he Encouraged by the
Peopie-Thc Right to Incorporate.


Peopie-The Right TO Incorporate.
President Read OF the Texas Bankers
association has issued the following adj
dress:
To the Public: To the end that the
purposes OF the Texas Bankers assoc
citation may be more clearly under
stood by all citizens, and animated by
the hope that an Intelligent considera-
tion of facts herein set forth may serve
to enlist the earnest cooperation of all
classes In promoting the welfare of the
state, this address is respectfully sub
mitted.
The character OF the Texas Bankers
association is purely social and educa-
tional At the same time its members,
being necessarily students of finance.
have not in the past and will not at
any time hesitate to openly advocate
measures which In their judgment Will
serve to create and perpetuate sound
currency system and safe methods of
banking. In both OF these departments
49, EAHfA~ ~ AAA ~ - az AfthtANs 80 N--@F
ly interested as those whose duty it is
to manage and control banking institu-
lions. Rates OF Interest. discount and
exchange, the principal sources Of
profit to bankers, are not discussed Ill
the conventions of the association, each
and every bank and banker being en-
tirely free to compete for business In
such manner and upon such terms as
may seem best. Hence the association
possesses not single element OF a
trust or combination. As coadjutors OF
commerce. upon which all civilization
depends. banks are simply indispensa-
Bile, and the more intelligently they are
managed the greater becomes their
sphere OF usefulness. Personal contact
interchange of views and experiences
and the discussion Of subjects pertinent
to the business have been found to be
instructive and beneficial, and for these
purposes the annual meetings are held.
The right to incorporate banks under
state laws and regulations Is granted
by nearly all OF the states of the Union
and the record OF state banking instl-
tutions in recent years Will compare
very favorahly with any other, Under
n corporate system banks have ceased
to be the exclusive property of the
rich there being thousands of stock
AARAAtib anu lAdNtbfAs VI AANhNAhAN
means and In closest touch with the
masses OF the people. The Texas
Bankers association favors an amend
ment to the constitution OF the state
which will permit banks to incorporate
with legitimate banking privileges, but
without power to emit bills to be circu-
lated as money No sound or logical
reason exists why banking should be
Disseminated against in Texas. If
the inhibition be aimed at corporate
banking II fails OF Its purpose. for the
reason that what Texas denies the fed
eral government grants. II is safe to
assume that state banlSs OF issue. indie
pendent of n national system, will
never again command the confidence
necessary to success, and as the ques-
ton of issue was the primary cause for
the existing prohibition the time has
arrived for Its repeal.
Recognizing that Texas Is essentially
an agricultural state, the association
Views with rrave concern the constant
depreciation In value OF all farm prod
ucts. Being unable as was recently
proposed by public speaker. "to re-
peal the laws OF supply and demand"
the association for second time re-
commends n greater diversity OF crops,
more attention to the cheap raising OF
hogs, poultry. dairy products, fruits.
and, as far as possible. home supplies
OF all kinds. Any disposition to dictate
TO farmers IL most theoretically denied,
II Is freely admitted that they are more
directly Interested In existing scales of
returns for their labor than any other
class We believe. however. that If
they would net In concert. agree TO a
material reduction In the acreage Of
cotton and carry that agreement out to
the letter. similar action would be
taken In other states, and next season
would witness much more satisfactory
results than Texas farmers have
known for years past. I Is within the
power OF the farm owners Of Texas 10
regulate the acreage Of cotton and thus
measurably regulate It's price
While recognising agriculture to be
the greatest factor IN the commerce Of
Texas, we believe that means exist
whereby Texas may become also one
Of the greatest manufac curing states In
inc Union. and that dormant forces po-
tent 10 develop Industry OF this charac- !
ter need only tho impetus OF wise Log
islation and local ENCOURAGEMENT. No |
thnurhtful student of'the laws of cnuaa |
ana erect can regret the liberal policy |
originally adoped toward the constrnc-
tion Of the railway system OF the state.
70 which ls largely due the credit for
the advanced condition. DEVELOPMENT |
ana increased population OF Texas.
Public and private resources were |
drawn upon, and promptly responded. /
ana this resulted IN Texas taking RAM, |
IN advance of states many years older.
with even less degree Of liberalltv |
manufactures may I've established. Riv- |
ing employment to thousands Of
skilled and unslIilled laborers and pro-
Niding home market for n large pro
portion OF the products OF the state
We believe that friendly taxation OF |
manufacturing enterprises, general on
courdgement to the Investment OF can't
tai and spirit Of fairness toward cor
porations would result In benefits more
iar reaching and general than any
thing else which could now be devised
for the good OF the whole people.
Corporations. being created by law.
should be subject to legal regulation
at once definite. decisive and coneln,
siVe. The right TO incorporate should
no longer comprehend the privilege OF
advertising a long array of figures as
capital stock. misleading and untrue
but provision should be made within
reasonable time when every dollar
= 4 a L.