Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-05-10
THE BANKERS CONVENTION
SOME POINTS ON THE PRACTICAL
SIDE or BANKING.
An Interesting Talk was Made on
the Prncticnbiiity of "a Flexible
Currency, Followed by Gene
raj Discussion.

the roll Of membership. paying So each
at par
President Groce announced TO III,
delegates that an excursion woult
leave Friday morning for Colorado
and the Rocky mountains, and re.
quested those who Intended going &c
hhnd In their names 10 Passenger
Agent sloat Of the Rock Island road
stand up. Mr.. sloat and let the deL.
gates identify you" said the president.
end the gonial Mr.. sloat stood up for
Identification.
Mr.. Reed OF the committee on ar
rangcmcnts announced TINT there
wonld be an excursion to the Stock
yards hotel and packing house In the
afternoon ut $3.50 o'clock.
The president called for reports from
| committees.
COMMITTEE REPORTS.
The committee on officers reports re-
compounded that the reports OF the
! president secretary, assistant secre-
tary and treasurer be ndopted and
| referred.
| The committee on statistics reported
IN detail the number OF bank failures
| Wlthln the past year, together with the
sN..'n ~ h'NNHllpIh ana the causes of
failure, Also, the failures caused bv
reimbursement and fraud In looming
| money 10 favored depositurs, The re
port WAS ordered printed.
Tho committee on badges reported n
houtonniere badge IN the shape Of a
pm or button, ~ desired, and Of about
me SIZE OF Il quarter OF dollar II
WIN be In circle, with blue lettering.
containing the name of zach bnnk ana
the general name OF tho association,
PRACTICAL BANKING"
Capt NJ. y Lloyd OF this city was
introduced and delivered an address
on Practical Banklng"--in substance
as follows.
1T In difficult 10 tell when and where
the first bank was established. They
were organized for the Legitimate
functions of trade. There iH no slnecure
In bank. The president should do
more than look wise and serve as n
ntuIe-hsad' The cashier is by no
meana merely an ornament; the bank
holde him responsible for It's business
Employees should he selected from lie
best families, Overdrafts are a curse
10 the banking business. When YOU
allow the renewal Of note more than
once you are paving the way for
loss, aud the sooner you get rid of
such customers the better. Soliciting
customers from another bnuk shouid
pc discouraged, aud you often want
help 10 turn such a customer loose
Ihere should be mutual confidence be-
tween bnnkcr ana customer. Diyi-
dends should only be paid when
earned, Giving interest on daily bal
anceH and time deposits conalder 10
b" unwise. Every bank should he |
prohibited from loaning money to It's !
officers. The creator number of fail. |
ures IL attributable 10 this fnvorItIsm
The speaker was applnuded on the |
conclusion or his address.
Us a FLEXIBLE CURRENCY PRAC- |
TICABLE2"
Mr.. c. C. Hcmmlng OF Gninesviue |
was introduced. and said In effect:
THE remarks That shall mol,. 40
Tor your crluclem Would an elastic !
currency benefit uaP II is n nnna.
currency issued Mt Will and It's basis |
IL credit rcdcemnble Mt Will n is |
claimed that such currency would |
thirty years proves that the natinpoi
Hystom has given relief. The friends
or state banks claim that their avst,tn
Us the surest means OF relief. Banks
~ the iorty-fpur states. acting with
their own ideaa OF local wants are ,,ot
q means ~ relief. There should he
uniformity OF action under a general
Jaw We can nut no valuable paner !
N circulation unless Il is based mon
the Soundeet economy. We are now
.snn ~ WV uniform system, ana II Is /
ROXY 10 mike n change. An hnnks
should Issue under tho snr.e control
We want more CURRENCY hyt we want
sound currency, maintained and clrcu-
lAted upon It's own morltR, with honesfv
Nl1iuped upon ita fnce; otherwise. IL
WIN 10 down with disgrace. There h
but one standard, yet gold, nllyer ami
paper can circulate with perfect hnr,
mony' At the present time. when we
need tnore money In circulation. we are
compelled 10 contract. with pore
money We could extend our nccor,n,n.
dntions. The function or the hn,,,s 10
70 SUPPLY money. and the MED Of
the people In more money We 10
mnnd laws that win enable us 10 over
come those difficulties that surround u.s.
ana should have larger currency
L9gislauon should not discriminate
Ihe currency per canlta In some 81
the states II $50 and 500. and IN Other
states az low as SIC, We are greatly
lmpeded In our progrcsa today hy such
restrictions, and should hive mn eios.
uclty which would give relief Ia tboso
states diacrlminated ngRinst Tho
trusts and combinations nut n prIec
upon every commodity IN The market
md me cry, Is for more money and
Tho speaker referred to tho Canadian
banking system and tho law which
required the government To retain Z
per cent OF the 100000 capital OF n
pank 70 guard against loss
Continuing the speRiSor said,
III They've wAre an elastic cnrrcncv tho
strinEency ~ the market could this 10
'aHily relieved, II hRnl's assots nre
good. why hamper Il with restrletive
awsf From these crude Thoughts Won
may gct an IDEA OF how an elastic
'nrenoN would work" The speaLer
VAS londly applauded a vote OF
hanks extended him. and the address
nlerred 70 anoclal committee OF
hrce 80 he submitted for discussion
A recess was taken until ? O'clock
The afternoon session was called -
,rder by FirSt Vice President ReaS
rhe committee on finance reporte1
exported favorahly upon the treasurer's {
'eporI which was adopted
The report Of the COMMITTEES on n a.
ign for new badge was adopte1
Gen w II. Handy % Austin ,vns IN ,
rNdnced and delivered nm address On ,
state Banks" He said, IN effect,
The state systcm gives currenc,,
hhl does not rtasnate IN money cen.
ers' The hrst consideration Of a hank !
lnl. ~ Us means If redSmptlon. Our
iational banking system does not nos q
ess the attributes OF state banlfnr I
Netem All the paper issued hv the =
,eNernment not covered hv uold Is IN &
ne nature OF forced loan. There G
must be some substantial value. and \