The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1894-10-22

bank at any time upon depositing with the
treasurer of the United States lawful money
in amount equal to the sum desired 10 De
withdrawn, and, Immediately upon sucn de-
posit the tax indicated in sections :, ) ana
Z. shall cease upon the circulation SO re-
lii ed.
Section .. In the event of the winding
up of the business of n bank by reason of IN
SOlVency, or otherwise, the treaSul er o. the
United States. with the concurrence of tho
comptroller of the currency, may, on the APP
plication of the directors, or of the liquida-
tor, receiver, assignee or other proper OF
fetal. and upon being satisfied that proper
arrangements have been made for the pay
lnent of the notes of the bank ana any tax
due thereon, pay over TO such directors
er of1cial the amount at the credit OF the
bank in the redemption fund indicated III
section a. .
Mr. 81. John Doesn't Like Ii.
Mr.. William T. St. tohn, president of the
Mercantile National, was among the few
New FORK bankers present at the conven-
ton. 10 the surprise of many of the dele
safes ne took no part in the proceedings.
TO Il newspaper man Mr.. ST John said:
Il was not invited to prepare paper
ON any topic for this occasion. / came
4 listener, hoping also 10 be learner. /
am u little disappointed at the small num-
Der attending tins convention, but en-
JoylnS exceedingly The cordial greetings Of
acquaintances from all sections Of the
country III this celebrating atmosphere of
cordially. We are ali alike debtors foT
the Inequalities extended so graciously 10
the American Bankers Association by the
Associated Banks OF Baltimore
The prime topic for the Considcra ton
OF the convention had been announced as
Il proposition TO he submitted and recon-
mended by the Associated Banks of Bal
timore. Details of the proposition We're
not furnished in advance. II aid not seem
Il part of prudence To condemn lightly u
proposal hailing from bankers nj such es-
TEEN for conserve tism ana Sagacity. and
il is not my habit 10 dntdgOniZe on the first
objection any buSinesS-,lke proposal. Fur
theriaore, the Baltimore banker who intro
duced this baltimore proposal dad 80 in
terms that were SO exceedingly corsidera5e
members present, that / should have seem
ed To myself like one careless of the amen
tiles Of dinner table TO interject anything
controversial into the proceedings.
'.FsuaIIy unrestricted coinage for gold
and silver Di-metalism, national or inter
national was not an announced topic OF
this convention. My views, which ] have
not hesitated 10 advocate on any proper
occasion are not favorable 40 any increase
Of bank notes or other substitutes for
money until we are first made certain
of a sufficiently broad base Of primary
money growing with its substitutes in
volume ana ready for their redemption.
Much that passes for true m theory is, in
fact impTacticable. Many sO-callcd sound
or,inions' are based Inaccuracies. Cur
rent conditions ought to shutter some
false notions. We witness the dollar OF the
United states more potent as means OF
acouirine. the great products Of labor than
for many years. and at the same tlhie 't@
impotent to yield income Tor the use tol IL
as AT any time in our histOry-thc dollar
commanding two bushels OF wheat IN
Chicago whSie earning only L Per cent PEI
annum in New York"