The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1895-11-29
STATE BANKERS, ASSOCIATION.
1t Met at Norfolk acknowledgements by
President Trout and Others.

10y
President Trout and Others.
NORFOLK, Va, Nov. 2S..-The State
Bankers Association met here TODAY,
Hon. Henry s. Trout, OF Roanoke, the
president, presiding. The address of
welcome was delivered by Capt. VIM. II.
White, and responded by the president,
who spoke as follows:
"Gentlemen of the Virgins Bankers
Association:
"In assembling In convention on the
third anniversary Of our organization
/ congratulate you upon the improve
ment in general business conditions
that have taken place during the past
year. The clouds of depression and
wrecksge of financial disaster that have
hung aroun US are gradually clearing
away, md tho dawn Of an era of good
solid prosperity is upon us.
Our association sprung into exist.
ence in the midst Of one of the severest
psnics that We have ever experienced,
and IT i5 a eourco of no little gratihca-
ton to know that our Virginia banks
weathered the ssorm,with'a as lew failures
as those OF any State of the Union.
During the past year only one bank
in Virginia has closed It's doors, and
that need not ave happened If IL
State government had exercised that
wise supervision over the banking in
terests that 1t should have done.
much good hiss been accomplished
through the influence OF your associa-
ton in the enactment Of wise legisls-
ton during the one session of our
State Legislature that met since our
organization, and much more remains
to BIO done before our laws are brought
to 3 standard of excellence in keeping
with the progressive spirit Of the age.
Our State legislature will soon con-
vene, and whatever movements are set
on foot for the improvement Of our
laws from the banking standpoint must
bs mapped out and put in shape at
this meeting. Many matters OF gen
erel Importance have been heretofore
considered by your body and referred
to appropriate committees, and I trust
tina these committees will be able to
report fully on all matters referred to
them.
I'm the light Of present conditions I
see no reason why the coming year
should not be n of healthy financial
growth. Every department of trade
seems to have caught the impulse of a
quicSened life, and the natural re-
sources of our country will be developed
as the improved conditions of trade
demand.
ANY people, to enjoy permanent
prosperity, must have g currency, ample
In volume, sufficiently elastic to meet
the varying demands OF trade, and so
thoroughly safe and honest thai it viii
command the confidence, not only of a
locality or q class, but of all the classes
and conditions, so that an American
dollar, whether of gold, silver or pager,
Will pass at par in all the markets of the
world. Give us a sufficient volume OF
circulation that Is worth one hundred
cents in the dollar and our prosperity is
assured.
The only trouble that l csn see in
our present conditions arise from the
existence OF our National Treasury
notes or legal tender notes r~edeemable
In coin, necessitating the keeping in the
National Treasury of q hundred million
dollars OF gold as 8 reserve.
Currency of q different character
should be substituted for these Treasury
notes and the strain upon the Treasury
Department to keep lis gold reserve
intact by the periodical sale OF bonds
would cease. have thus digressed from
our State affairs because l regard this
as the most important matter before the
American people to-day, and II the
members Of this association will try to
impress these ideas upon the minds of
our representatives in Congress / believe
1t Will accomplish much in this
direction.
~ have great faith in the conservative
wisdom OF the people when they are in
formed and aroused to q true apprecia-
ton OF the conditions that confront us.
Leaving the field of national
finances and taking up the subject of
our organization, am glad to say we
have constantly added to our member
slip and l believe that every bank in
the State should be enrolled IS q Nom
Der. A united action OF all the banks
Will accomplish much, and the annual
meetings OF our association would bring
them together in pleasant intercourse,
cementing and perpetuating friendships
that have been begun by business COR
respondence.
"LookiDg to the idea of arousinp
greater interest in our association, /
would recommend that q resolution be
passed here and sent to each bank, re.
questiDg the board of directors to send
a delegate to zach convention and that
the expenses Of the delegates be paid
by the bank. l believe this step would
materially increase our membership.
and 1t Is no moro than right that the
bank should pay the expenses of it's
representative.
81 am sorry to be compelled to Off.
clally notify you Of the death OF one OF
our most active and efficient members.
In the death of Maj. w. j. Johnston,
president OF the Citizens Bank OF Rich.
mond, which occurred during the last
summer at his homo in Richmond, we
have lest q firm friend, q wise counsel
lor and sn active worker. whose place
in our midst will be hare to fill. You
will b1 cRllad uOon fo naaa ouitabl