The times. [volume] (Richmond, Va.) 1890-1903, 1894-10-16
THE INV CUEHHNCF PLAS.
Judge George l.. Christian Correch an
Error in tho report oi The Proceedings.

Editor Of The Times: In the alucle III
your issue Of the 18th, entitled, Banking
a Natural Right" you refer to the report
IN the Baltimore sun Of %nat occurte"
in the Bankers Convention between MI
Horace White, of New York, and my
self. 49,.
I think this part OF the report IN the
Sun is calculated 10 create a |ionS ~
preston OF what was said by DOM ~
White and myself, and as the proCeSI
ings Of the convention, espetiaHy " ~
occurred In relation 20 the adoption Oh tut
Baltimore plan may be lntrIesuH"' ,
VIII state my recollection Of ms part OIL
them.
In the report Of Mr.. Whites remarks
the sun makes him say. among otht.
things, the objection has been Idl5cp
by Mr. Christian, that good BANKS ulh.s
the Plar will be compelled TO as-l-t III
guaranteeing the notes Ot D.! pIh"I,
etc. rs ! raised no such objection 10 tn'
Baltimore plan,' OF course II is ~ 3
take to suppose That Nj " MY {poT
issue with me on that p0ist. Indeed; !
was very much gratihed al what MI
White said about my remarks, re r cm@L
discussion Of the subject and, II u"
criticised any position taken by me
fail to recall the fact. The pr9cetulnbS
OF the convention al and about thdt juno
ture were very unusual. ana VIII give
my recollection Of them as accurately az
! can. The Baltimore piann' was pre-
scented 10 the convention by Nr. Cna.!es
g. Homer. president Of the Second Ma
tional Bank of Baltimore in an excel
lent address, and he was followed ~ MI
4. u. Hepburn, late Comptroller Of the
currency. IN a very abe NaHueL III
which he not only endorsed the "Balt-
more plan" throughout az, OF course,
Mr. Homer did. but also took the vie"
that State banks might b.. allowed 20 be
that plan. Both Mr. Homer ami MI
Hepburn were 50 urgent iu their requests
that / should speak on tIe plan ana
Yer" 50 cordial and Kind, not only IN their
congratulations 90 me after gOt through
but AZ all times, that J cannot think Nj
Hepburn expected his verbal motion 10
adopt the 'pla8. made hy him S. the
conclusion OF his address, 10 be put TO
the convention before the discussion was
through. That verbal motion was, now
ever put TO The convention at That time
and as far as / could judge from the
sound the plan was unanimously
homer on behalf Of the Baltimore clear
ing house. After This had been done. h.
Of course concluded, as | had told NJ
Homer 1 had 10 desire. to speak. that
W3it"g. 70 Wy surprise, however, tAa
president then called first on My. Lowry,
OF Atlanta, and then on me, 10 address,
ne CunNenton on this same subject ana
we I'D this i'm the above order. After
vas through with what I had 10 say the
indlr announced. as was stated on the
programme. that the same subject was
open for further discussion and he thcr
At this point MI. W. t.. Rhaun. Of Phiid-
drlphia. raised the point that as the
plan had been adopted by the passage
II Mr. hep2urn's .xs9'GdoH, all further
II order. Mr.. Soep"Ith Wilmer, O.; Bal
tiWOre. then said Of course the point OF
the gentlemen from Philadelphia was
wen taken, ana he thought the CAair
mad made l.. stake gTIIfIIE tIT
ton before the discussion vas C5uclu! u;
but THAT as others wish I'd 90 spcdE on th.
question n would not do 10 stop there,
since the action Of the convention would
plan was adopted after Iull discus
sion, than II adopted a. a. had been, he
fore the discussion Wa Concluded, ana
De therefore moved q reconsideration of
the question, which was unanimously car
ried. The point was then raised by Mr.. !
RhauU that under the constitution Of the
convention, which required all such bust
ness 10 be referred % the executive CJun-
Cil thirty DAYS before the annual meeting
TINS plan could not DE considered uuu!
the next annual meeting. MI Hepburn
and others then showed now the matt D.
mao really been under consideration by !
the executive council for more than the
time required, although no formal report
on IT. had been made % the body. IT WAS
nnlIly determined q refer IN" matter TO !
N" council and get il 10 report at once. |
Ihis was done and that body retired and
I'm q few moments returned the resolu-
tpn % the convention without any
cWm'uaatIon one way or the other |
! ne plan Wa then further discussed IN |
q IVocHcy OF n by Mr.. Wilmer. Of Baltl-
more Mr Hepburn of New York and |
Mr.. Butler ~ Connecticut Mr. Hepburn |
then submitted a Written resolution iH the |
place Of is verbal motion heretofore |
submitted by him and adopted by the |
convention, which resolution was 10 the |
eHc't that the convention recommended |
legislation along the lines. or, a. tho |
sun has 10. ''ou the underlying principles |
laid down Ia The ''plIu." and this was |
adopted with few dissenting votes "A |
i"F as ! Te.at. i was the only speaker |
VINO criticised tn az way the plan and !
ny criticisms related principally 10 the
objections 10 issuing "rrnerErucy circu-
alton" and Ip advocacy az allowing
STATE banks 10 So change their charters
ana become banks OF issue under the
plan The New York journal OF Com
neIce. OF the 18th. saws: Many delegates
had been thinking along the same ines
as Ar. christian, and his remarks TOOK
'ucA deep hold upon the convention that |
VIZ. Hepburn'S resolution previously pass
.'rn W aetner or not what ] said
'auSed the resolution 10 be finally adopted
n the modified form ia which IL was. OF |
curse / express no optui0u. As / said
% the convention, l stated my objection 10
ne plan with the utmost Difference |
IA these objections did not at ali in.
owe the integrity Of the main features |
y the plan which meet with my cor
| was asked 10 give "my views" how
yer and ! gave these for what they
we're worth. Yours very truly
GEO. l.. CHRISTIAN.
oct. L. 1891.