Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-05-09

obtaining In this state are too unfavor-
able TO Justify the payment OF interest
on fiuctuating balances. II unfortu.
natcly happens that our seasons Of
wise our great necessities are embraced
in one common period The inability 20
use surplus funds to advantage the
year round. together with the certainty
Of Withdrawals and discount demands
later on, make this class OF business
Improbable In itself, not to speak Of
the unhealthy physical condition mani
Tested In such rapid expansion and con-
traction OF a banks deposits. Should
any OF you parallel these conclusions
with my earlier arguments. ahnll bor-
row the language OF the political aero
bat and defend myself with the re-
mark, II was talking then; am swear
ms now" for IN this particular instance
consistency ~ seemingly more honored
~ the breach than In the observance.
Last summer when rapid conversion
was an essential To safety. the wisdom
OF the trainers OF the national banking
law IN prohibiting loans on real estate
was made very apparent. The eitun-
ton also developed the deficiency Of col
lateral loans. In times Of plenty these
are easily handled by shifting from one
bank to another. Kind OF "robbng
Peter to pay Paul" process. but under
pressure Peter lodges the usual Issue
aud rfuse- to be robbed-an unhappy
combination Of circumstances that
makes such loans very undesirable,
They cannot always be avoided. how
ever since they are usually the OFF,
spring OF local enterprises nediug the
Fostering care OF banks but, In the
light OF experience. their accumulation
should be limited 10 certain percent
age Of our assets, and this limited
amount should not be allowed to cstab-
fish perpetual claim upon our indul-
gence, Mr.. \. ID. Moody is 10 read n
paper before the association this after
noon mud ! shall cave TO him the fur
thcr enlargement Of theRe"A ftsr
Thoughts OF the Panic" But before
quitting the subject I must disclaim
any intention Of encouraging you into
a complete revolution OF methods, for
Il is certainly much wiser to conduct
or b islneHs IN line with conditions that
constantly prevail than 10 adapt our
solves to u state OF affairs which, at
tnt Wpfnt, huppen9 only now and then
My purpose VIII have been accom-
pliahed II. In suggesting the necessity
Tor Intelligent action at an times,
ave also strengthened your resolutions
towards greater conservatism Or
checked an iuelplcnt tendency towards
Nnpolcc nc career, FOR II " well to
rrmeber that the m ataoric genius whose
splendur da22led world died In defat
and lillcd nu eNile'A grave at st Helena,
while tall column pcrpctuntes the vir-
tues Of his sturdy and less dnahing
opponent. and Waterloo has become
the accepted synonym for all that rs
diHastrous
These remarks, ns brief as hive
aimed To make them, are sufficiently
long To try your patience. but must
crave your Indulgence for Il short re-
view OF
our Relation to the People.
First, In brief tribute to your own
merits. l shall avoid fulsome praise.
leaving It TO the reporters to speak Of
you ns the finest looking body OF men
ever gathered together. combining my
speech ns closely as possible to actual
fncta Neither shall l dlspnraRe other
professions In encouraging becoming
loyalty FOR your own, aud In asserting
that you have no God. given privileges,
! atlll hope TO prove that II ~ no crime
TO be Il banker. Your elevated posi-
tlonH OF trust. conferred by given
number Of representative citizens CT
Your respective communities, evidences
the esteem IN which YOU are held by
various Integral parts Of the state.
This position invites q confidence as
sacred IN It's degree as the relation bc-
tween priest ana pcnltent; yet this In
Innate knowledge Of your nelghhor's
AFFAIRS Ia never used as a weapon OF on
preston. No narrow preiudices govern
your action, for the very essence Of a
bankers creed IN To- subordinate per
sonRl RnimOslties "a the demands OF
business Your loyalty TO trust had It's
grRndcsl lesson last summer when
many Individual fer;uneH Were pledged
for the safety OF banks Tor whose OBJ
ugationa you We're only partially liable.
ana IA fmrMWIITp I'D
nsert II here that during all OF that
trYlng time your personal futures were
lost sight OF In the greater concern for
the welfare OF the interests connded
to your care, The readiness with which
you contribute to every demand VI prl-
Nute charity attests your claim To- good
citizenship and current history records
m0ry noble hencfnotions from bankers
VA the endowment OF schools and de-
serving charities. Right here II affords
me much pleasure to call attention to
my own home, once the abode OF In
mite, and oven now designated Ia the
nomenclature OF Texas Cltlua aa Tho
Pirate ISLE" whore n few years since.
banker dying, lcft as a heritage To
the children of Galveston a lnngnifl-
cent school building Rplcndld hos-
pltnl stands AZ enduring evidence of
the Christian charity OF another banker.
\ llttle later our school System wna en-
'N'NN " HHNAn'i kiAnu huiluinE, the
gitt OF third banker Ia HIS lifetime
and when he died, last year. charity
Mier charity was rcmcbored In lavish
manner and, coming TO Galveston IA
Tow pears hence, you gentlemen viii
De shown towering monument, nor
petuaung the memories ofthe heroes
VI Golind, the Alamo and san Jaclnto.
lho men who dlcd that Texas minht
I'VE, all the gift OF this blg-aoulyd and
philanthrupic banker
what IL the relation Of your business
u community and state? Surface IN.
Wc1uonh would surgcut bank na "A
place. merely for the barter and sale al
cNchNugc. This function ntono hna ths
merit of facilitating trade In All of ia
various channcls, but the grandcst mis-.
aion OF u bank IL manlfestad In thnt
power which centraliXea the q,ilet ami
unseen forCos OF community. nohu.
lEing the umid and scattered funds Of
the lahorCr into a concrete whole maxi.
ing them n powerful factor In tho he
Nclopmtnt OF further actretinna and
IN the production OF more labor. From
this concentration Of power we see ma
growth OF new industries. OH mills IA
coin the waste products OF the farms
into golden harvest, factories To fnr.
nish labor for helpless women and chit
uren' saw mills and furnaces To levy
tribute upon our vast forests and moth
er earth. In fact, all Industries requir-
lnB capital Tor their perfection have
their birth places In and around IN,
bank, and IN the fulfillment on IN. mia.
sion the bank IN every trnnsnetinn
atanda as u guarantor between debtor
aud creditor aiding the one in tlevclon.
Ing A higher civilization au.. t,.....t ~