The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-16
BANKERS OF THE NATION.
Their Association in Annual COnven-
ton at Atlanta.

ton at Atlanta.
Atlanta, Ca. oct. 15.-The American
Bankers Association. in twenty-hrst an
nual session. met in the Grand opera
house this morning At 10 O'Clock. The
auditorium was filled with the members
Of the association. while the executive
council occupied seats on the stage. The
ladies who came with the convention Oc-
cupied the boxes.
At 1920 O'Clock President John T. O'Den
/ formally opened the convention. Prayer
was offered 10y Rev. +. H. Barnett Of
the First Presbyterian church Of this
city.
Mayor King welcomed the association
to Atlanta He spoke Of Atianta's warm
appreciation of the honor conferred upon
her by the selection Of this city as the
place OF the convention.
on account Of the illness Of Gov. Akin
son. who was expected to welcome the
bankers 10 the state Of Georgia, Mayor
King spoke for him.
g. GGnby Jordan. president Of the Geor-
gia Bankers Association. welcomed the
association on behalf of the Georgia as
The president Of the association. John
p. O'Dell Of Chicago, Ill, in his annual
address discussed questions of vital i'm
portance to the association He was given
the closest attention by the convention.
His speech was one of the features of the
session.
The next half hour was devoted to rou-
tine business, several reports being read
and adopted.
Ex-Gov William r. Merriman, president
of the Merchants National Bank of ST.
Paul. Mimi, delivered an address on THE
currency Of the twentieth century.
At the close of Mr.. Merriman's address,
Mr. St John of New York city arose and
asked for the privilege of replying to the
arguments of Mr.. Merriman. He was
granted the privilege. and was placed on
the programme for Thursdays session. He
will speak in behalf of free coinage.
After an address by William H. Rhawn,
president of the National Bank Of the Re
public of Philadelphia, Pa, on the sub
ject: The utilization of lawful money re-
serves through bank clearing houses in
relieving monetary stringencies and pre-
venting panics,' the convention adjourn
ed TO meet again tomorrow morning at ~
o'clock.
President O'Den, In the course of his
speech, said: In the march Of events II
is not always possible TO trace an effect
to its cause, nor can we always foresee
the results that flow from the action OF
to-day, so II appears difficult to set forth
infinitely the achievements which are truly
the fruit of our endeavor, but IL is doubt
less true that many of the improvements
in the methods of practical banking can
be traced TO the educational efforts Of the
association, and not a few of the reforms
in commercial practices are due to il.
The abolition of the war tax on deposits,
probably the removal Of a stamp duty on
bank checks, and some of the amendments
to the national bank act may be attribu-
ted to our body. Growing out of the ag1-
tation begun in the conventions Of the as
ISOLATION has followed the abolition or
days OF grace in many states, twelve hav-
ing already adopted this reform.
To-day we are engaged In a great prac-
teal work, endeaVOring to protect our
members against the depredatiOns of the
criminal classes, and the experience of
the past year, during which an active de-
Tense has been undertaken. points to such
possibilities of sucsess that / think / can
assure you if the present plan and policy
are persisted in, that the members Of this
association Will secure freedom from the
assaults of the professional criminal and a
membership in this association will be
equivalent to an insurance against for
gerry, burglary and professional swindline
a year ago, at your convention in
Baltlmore plan for the reformation of
our national currency system was ADOPT
ed, and while the recommendations of
the association did not meet with uni
Nersal approval, the action of the con-
Yention gave rise to a most extensive
agitation of the currency question both
in and out of congress. and a great deal
OF valuable discussion followed. The ef-
fort Of the association to deal with this
subject mas not been fruitless, and IL is
to be hoped that the agitation this initia-
ted viii continue until the government
shall abandon the issuance of notes and
more perfect currency system shall be
adopted. The evils of our present sys-
TEN were never more apparent than to-
day. During the period since we last met
together our country has passed through
an experience that will not soon be for
gotten.
Following a season of universal liqui-
dalton and distress, the country was con-
fronted by a national treasury forced al
most to the very edge of bankruptcy and
was saved from this only by the heroic
and patriotic action of a wise and cour-
ageous President. For weeks uncertainty
and confusion prevailed and were not al
layed until by the sale of large amounts
of government bonds the government re-
covered its gold reserve. That this expe-
dent offered but temporary relief we have
had ample evidence. The signs are not
wanting TO indicate that we have yet more
trouble in store unless we shall depart
entirely from the present makeshift and
pernicious system of government note is
sues. With a scientific monetary system,
based upon standard which has received
the Endorsement of the most civilized ma
tions, we may feel assured that the intel
ligent and energetic people of the United
States viii develop and utilize to an ex-
tent beyond the dreams of the widest Wis
ionary the marvellous resources which ma
ture has with such generosity bestowed
upon us, until at length we shall take our
true place among the nations of the earth
the foremost in material prosperity and
moral worth which will he manifested in
the advancement of our arts and sciences
and in the daily life of our people. To-day
were II not for our uncertain currency sys-
tenn, we might well congra tulate ourselves
upon the condition of affairs"
-Bouguereau has painted and signed