The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1895-10-25

ANNUAL CONVENTION OF
AMERICAN ASSN.
President Odell Praises tho Administration
y'llghly In It's Course ON the bond Ques-
tion--Our Present Currency system In
: Dcplorable state.

ATLANTA, I'D, OCJ. lO.-lnc Amcrls
can Bankers association began its
annual convention at 10 o'clock this
morning with an unusually large at
tendance Of delegates and a liberal
sprinkling Of visitors and on-lookers.
The association was welcomed by May
or King and G.. G.. Jordan, president
Of the State Bankers association.
President John j. p. O'Dell respond
ed in behalf Of the visiting bankers
and then delivered his annual address.
He concluded as follows: ga year
ago, at your convention in Balti-
more, a plan for the reformation
OF our national currency system
was adopted, and while the recon-
not meet with universal approval, the
action of the convention gave rise to a
most extensive agitation of the cur
rency question, both in and out of
congress, and a great deal of valuable
discussion followed. The effort of
the association to deal with this SUBJ
ject has not been fruitless, and it is to
be hoped that the agitation thus initia-
ted will continue until the government
shall abandon the issuance of notes,
and a more perfect currency system
shall be adopted. The evils of our pres
emit system were never more apparent
than to-day. During the period
since we last met together our
country has passed through an expert
ence hat will not soon be forgotten.
Following a season of universal liqui-
dation and distress, the country was
confronted by a national treasury
forced almost to the very verge Of
bankruptcy, and was saved from this
only by the heroic and patriotic action
OF a wise and courageous president.
For weeks uncertainty and confusion
prevailed, and were not allayed until
by n sale OF a large amount of bonds
the government recovered its gold
reserve. That this expedicnt offered
but temporary relief we have
a ample evidence and the signs are
not wanting to indicate hat we have
yet more trouble in store, unless we
shall depart entirely from the present
makcshift and pernicious system of
governmental note issues. With a sci
entific monetary system, based upon
the standard which has received the
Endorsement of the most civilized ma
tions, we may feel assured that
the intelligent and energetic peo-
pie of the United States will de-
velop and utilize to an extent beyond
the dreams Of the widest visionary
the marvellous resources which nature
has with such generosity bestowed
upon us, until we shall take our
true place among the nations of
the earth, the foremost in material
@asal worth, whiclx
will be manifested 1.-THE advance
ment of our arts ands science.
and in the daily life of our people.
Today were it not for our uncertain
currency system, we might well con-
graduate ourselves on the condition
of affairs. Abundant crops have
rewarded the labors of the husband
man, the wheels of industry are NOV
ing more smoothly and rapidly, con-
fdence is taking the place of doubt,
assurance Of hesitation, and altogether
the prospect but for one single cloud,
is full of encouragement. With the
increasing prosperity of the people we
may hope to prosper, even as
we suffer with them in their
misfortunes. To us, as bankers, is
committed the duty of maintaining
the credit of our people. This we can
do by abiding by those principles of
%finaraha morality the truth Of which
til ~isnsd experience have demon
mean, Upon us, as an association,
l:1 rye responsibility to combat
klu contend for the truth, to as
pullersing the standard of CONNER
rational honor, to extend the
masse of b%rotherly fellowship
nlenylr mission. Are we capable of
Eging the trust? / think we
FER THE UNION PACIFIC