Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-11-29

vene. and whatever movements are set
on foot for the Improvement OF our laws
from the banking standpoint must De
mapped out and put in shape at this
meeting Many matters OF general i'm
portancc have been heretofore considered
10y your body and referred TO appropriate
committees. and trust that these COM
mlttees Will be able to report fully on all
matters referred TO them.
In the light OF present conditions
see no reason why the coming year
should not be one OF healthy financial
growth.
Every department OF trade seems to
have caught the impulse OF a auickened
life. and the natural resources Of our
country Will he developed az the i'm
proved conditions OF trade demand.
! am glad TO be able to say the free
silver craze which recently threatened
20 sweep US into another panic has about
subsidized. and | believe that the reaction
that has taken place In favor OF d sound
currency VIII be permanent.
ANY people 10 enjoy permanent pros
pcriiy must have currency, ample In
volume. sufficiently elastic TO meet the
varying demands OF trade. ana so
lhoroughIy safe and honest that IT vii
command the confidence. not only OF a
locality or a class but of all the classes
and conditions. Give US an American
dollar. whether Of gold. silver. or paper
that viii pass at par In all the markets
Of the world. and give us sufficient
volume OF circulation that Is worth 100
cents in the dollar. and our prosperity
Is assured.
LEGAL-TENDER NOTES.
The only trouble that l can see in
our present conditions arises from the
existence of our national Treasury notes.
or iegal-tender notes redeemable in coin.
neceseitatirg the Keeping In the national
Treasury Of $l9oo00,0O OF gold as re-
serve
Currency Of different character
gh iT t.gtt fgl % -ll Isk
notes. and the strain upon the Treasury
Department TO keep It's gold reserve in
tact by the periodical sale OF bonds
would cease. ] have thus dlsressed from
our State affairs because | regard TINS
as the most important matter before
the American people to-day, and II the
members Of this association VIII try 10
impress these IDEAS upon the minds OF
our representatives. in Congress, / be
lieve We will accomplish much In this
direction
have great faith in the conservative
wisdom Of the people when they are In
formed and aroused TO true appre-
citation of the conditions that confront
Leaving the neid Of national finances
ana taking up the subject OF our organi-
zation ] am glad To say that we have
constantly added to our membership.
and | believe that every bank in the
State should he enrolled az member.
A united action Of all the banks will ac-
complsh much. and the annual meetings
Of our association would bring the bank
crs together in pleasant intercourse,
cement,ng and penetrating friendships
that have been begun by business cor
rcspOndence.
Looking TO The idea Of arousing greater
interest In our association. | would re-
commend thai resolution be passed
here, and sent 10 each bank. request
ing the Board of Directors TO send a
delegate TO each convention. and that
A. I.fA 10 t..f1 ktf
the bank. ! believe this steD would ma
teTially increase our membership. ana
II is no more than right that the bank
should pay the expenses OF It's represen-
THE LATE MAJOR JOHNSTON.
| am sorry 10 be compelled TO officially
notify you % the death OF one OF our
most active and efficient members. In
the death Of Major W. j. Johnston, presl-
dent of the Citizens Bank OF Richmond.
which occurred at his home IN RICH lo
mond we have lost firm friend. wise
counsellor. and an active worker. whose
place will be hard to iill You VIII be
called upon TO pass suitable resolutions
in testimony of the esteem in which we
held him.
In closing | desire TO commend the
very faithful and efficient services OF
your secretary and treasurer-Mr Samuel
q. Wallace-nOw president OF the 'lti-
zens' Bank OF Richmond.
| desire to express 10 you my thanks
for the honor conferred I'm making me
your president. and In retiring from the
office | do so with best wishes for my
successor and the association.
The bankers went down 10 Newport
News this afternoon and inspected the
large ship-yards and dry-dock there. To.
night they were given a magnificent ban
quet at the Virginia Club by the Norfolk
Clearing House Association. Those from
Richmond present at the meeting are
Judge George l.. Christian. Mann ;.
Quarles. Major J. Il. Worth, 5. q. wal
lace, X. II. Smith, and ii. y. Williams.