The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-10-05
Able Papers Read by MeSsrs.
Wright, BeCkman and
Magee.
FAVOR THE GOLD STANDARD.
Tenor of the Discussion Shows
Opposition to Extensive Use
of Silver.


to the fourth annual convention of the
California Bankers Association convened
in Einstein Hail in this city this morning
at 10 o'clock. The hall was profusely
decorated with pots of tropical shrubs and
plants, and large bouquets of La France
roses were placed on the presidents and
secretary's desks.
President Lowell White called the asso-
citation to order and introduced Dr. Ches-
ter Rowell, president of the Peoples Saw
ings Bank of Fresno, who delivered the
address of welcome. A. H. R. Schmidt,
cashier of the German Savings and Loan
Society of San Francisco made fitting
response.
The address of President Lowell White,
following Mr.. Sehmidt's response, was
happy one. He said:
This association is about to commence
its fourth annual convention for mutual
benefit not only from a business stand
point but also from a social; business,
for the reason that even those trained to
reason from facts are benefited by an ex-
change of opinions gathered in other parts
of the country, and social, for it is a we'll
known fact that logical arguments have
greater influence and force when accom-
panied by a warm handshake, and that
handshake we have already received"
President Lowell White made an inter-
esting address, reviewing the history of
the past year from a financial point of
view in this State, abiding to a circular
from the Chamber of Commerce of New
York sent out year ago relative to the
payment of depositors in deprecated cur
rency in case the free coinage of silver
should become the law of the land. and
reciting the answer that was sent back by
the banks of San Francisco and Oakland.
The answer was to the effect that settle
ment with debtors would be made on the
basis of gold coin, and that depositors in
the banks could safely rely on receiving
payment in the same kind of money de-
posted, namely: gold coin. The presi-
dent advised that the convention declare
the allegiance of the California Bankers
Association to the specihc-contract law of
the State, both in letter and spirit.
An exhaustive paper on the Various
Kinds of Money of the World, p by Benja-
min G. Wright, financial editor of the San
Francisco Bulletin, was read. Our present.
currency situation was ably handled by
| Mr.. Wright, and he showed himself in
| touch with the Leading fnanciers of the
day.
This was followed by an able paper from
William Beckman of the Peoples Savings
| Bank of Sacramento on the relation of the
| bank to depositors and borrowers. Mr..
Beckmans address was not long, but it
was good one, and he was roundly ap-
! plauded at its close.
The next paper was read by the Hon. H.
| W. Magee, State Bank Commissioner. 1t
was entitled why Banks Fail"
He gave as the principal reasons for the
| failure of banks incompetency, lack of ed
ucation, specializing with banks funds
and directors failing to perform their duty.
His paper was well received. The senti-
ment of the papers read was almost unani-
mously in favor of the gold standard
The following are the delegates who reg
istered to-day; Lowell White. San Fran
cisco; G. w. Kline, San Francisco; J. E.
Baker, Alameda; P. H. McEverett, Santa
Paula; E. H. May, Pasadena; H. w. Ma
gee, San Francisco, ]. K. Lynch, San
Francisco; G. w. Carpenter, Yuba City;
]. E. Ward, Modesto; P. B. Fraser,
Stockton; D. S. Snodgrass, Selma;
J. H. Brady, Los Angeles; E. New
man, Porterville; H. Hank inson, Antioch
J. B. Fuller, San Francisco; Fred O. Wick
ersham, Bolinas; n. D. Rideout, Marys-
vile; H. H. Hewlett, Stockton; G. E. Pal
mer, Oakland; ]. A. Simpson, San Fran
CISCO; ]. Stoddard, Pomona: John Reich
man, Fresno; Leopold Gundlefinger, Fres-
no; W. n. Busnop, Santa Clara; ]. Nc
Mullen, Fresno; A. f. Lisenby, Fresno; B.
.. Steinman, Sacramento; II. NJ. Larue San
Francisco; F. T. Duhring, Sonoma; Dan
Brown, Santa Rosa; o. J. Woodward,
Fresno; P. E. Bowles, Oakland; Chester
Rowell, Fresno; D. Burris, Sonoma; Will
liam Beckman, Sacramento; C. Altschul,
San Francisco; A. H. r. Schmidt, San
Francisco; T. s. Hawkins, Hollister;
Lionel Stagge, San Francisco; William B.
Wightman, San Francisco; L. A. White
hurst, Gilroy; Ben G. Wright San Fran
cisco; P. H. Maxwell, San Francisco.