The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-08-23
TO GET A SUB-TREASURY.
RESOLUTIONS BY THE BOARD OF
TRADE TO THAT END.

A Copy to he Forwarded to secre-
tnry CarIisIe-What a sub-Treas-
ury Means 10 savannah-Would BE
the Only One between baltimore
and New OrIeans-savannah Al
ready a Reserve city for National
Banks. M
At a special meeting Of the board Of trade
held yesterday, resolutions were adopted
urging upon the secretary Of the treasury
the desirability OF establishing branch
Of the treasury department Of sub-treas-
ury at Savannah.
Vice-President James Earle, Jr., presid-
ed at the request of President Purse who
read the resolutions. The resolutions were
passed unanimously. They were prepared
by President Purse and state clearly and
directly the reasons which impel the board
Of trade to the belief that a sub-treasury
should be established at Savannah. The
fact of the recent endorsement of the eff
fort by the Georgia State Bankers Asso-
citation is alluded to.
The advantage to be gained by such an
acquisition is very apparent to the business
men of the city. With branch Of the sub
treasury located in Savannah 1t would not
be necessary for the local banks and all
the other banks in this section to send to
Washington for their supplies of currency.
The subtreasury would be expected to
keep a full supply on hand. 1t would be
of particular advantage to Savannah and
the surrounding territory If the branch OF
the treasury were established at Savan-
nah now. An immense quantity Of small
change is required in harvesting the cot
ton crop and the cotton factors will soon
be making demands upon banks for sup
plies for their customers in the country.
The supply usually almost invariably runs
short and the bankers have to send to the
treasury department at Washington, in
volving a delay of several days and the
cost Of express. If there were sub-treas-
ury in Savannah this cost and delay would
be obviated.
There is no subtreasury In the south be-
tween Baltimore and New Orleans, and
the Savannah bankers are of the opinion
that this is just the place required to fill
the gap. The establishment Of a sub
treasury here would not be for the con-
venience of the Savannah banks alone,
but for all the banks in this section as
well which would find it to their con-
venience to order their supplies from
this point instead of Washington.
Mr. r. F. Burdell, cashier of the Chat
ham Bank, has been very active in this
matter and begun an agitation on the
subject over year ago. Largely through
MIR. Burdells efforts Savannah was APP
pointed a reserve city by the secretary Of
the treasury several months ago, thus
allowing the deposits of national banks
elsewhere in this section with the Sa-
vannah national banks to be counted rs
a part of the reserve required by the
government to be kept by all national
| banks.
The resolutions adopted are as follows:
whereas. Resolutions were unanimous
ly adopted by the Georgia Bankers Asso-
citation, at their last annual session held
in the city of Brunswick, recommending
the city of Savannah as fit and proper
place for the location of a sub-treasury,
and asking congress to enact legislation
necessary to provide for an assistant
treasurer of the United States to take
| charge of and manage it; and
Whereas, In same resolutions our SEN
| ators and representatives in congress were
appealed to and urged to give their undi-
| y1ded support to measures looking to the
appointment of an assistant treasurer of
| the United States and the location of a
subtreasury under his control at Savan-
nah, Ca; and A6
Whereas, Our senators and representa-
| tives have responded to the appeal and
pledged their earnest and hearty support
/ In securing the appointment OF an assist
ant treasurer and location of subtreas-
ury under his control at Savannah; there
| for, be it
Resolved, BY the Savannah Board of
| Trade in general meeting assembled, that
| they heartily concur in the action taken
by the Georgia Bankers Association TO
secure, by act of Congress. the appoint
ment of an assistant treasurer of the
| United States and the location of a sub
| treasury under his charge at Savannah.
Resolved further That the thanks of
| the board of trade and the citizens of Sa-
Yannah IN general are due and hereby ten
| dered to the officers and members of the
| Georgia Bankers Association for their
generous recognition of the Importance
and value of Savannah as a financial CEN
ter for the large and growing commerce
| of this section.
| Resolved further, That the Savannah
| board Of trade and the citizens of Savan-
nah in general tender their thanks also 10
our senators and representatives inscon-
| gress for the assurance of their support
/ of measures to be introduced at the next
session of congress by our Immediate rep
resentative, Hon. r. Z. Lester, providing
| for the appointment of an assistant treas
urer of the United States and the location
of a subtreasury under his control at Ea-
vannah
Resolved, lastly, That certified copies
| of these resolutions be forwarded by the
secretary to the president of the Georgia
/ Banking Association, to our senators and
representatives in congress, and to the
| Hon John G. Carlisle, Secretary of the
| m.