The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-14
BANKERS OF THE STATE.
They Go on Record as Against Free
Coinage of silver.

They Go on Record as Against Free
Coinage of silver.
Brunswick. Ga, June bon invitation
of L. C. Hayne the convention of state
bankers to-day accepted an invitation to
make Augusta their next meeting place.
The date is TO be arranged
The convention adjourned this after
noon, and the bankers left for st. slmon's,
where they are being banquSed tonight.
The following officers for the ensuing
year were unanimously elected:
President-G. Gunby Jordan.
Vice Presdents-L. c. Hayne, r. f.
Burden, J. S. Davis, f. T. Hardwick, and
J. G. Rhea.
Secretary-L. p. Hillyer.
Treasurer. w. Cabaniss.
John A Davis was elected chairman of
the executive committee.
on retiring from the chair, ex-President
Neal made a pleasant speech, and was
followed by an eloquent address from
President Jordan, on accepting it.
r. J. Lowry extended an invitation to
tho association to visit Atlanta during
the session of the National Banking AS
ISOLATION next fall, which was unani-
mously accepted.
When the session met this morning res
olutions were in order. and the following
was passed by large majority. only two
voting nay:
Whereas, The members of the Georgia
Bankers Association heartily appreciate
and indorse the message of President T.
Neal and do fully concur in the broad and
practical views therein contained; and.
Whereas, We the members of this assp-
citation, realize that the currency question
is now absorbing the attention of all in
telligent and patriotic citizens as the i'm
portant issue with which our next con-
gress will have to deal.
Whereas, We, the custodians of the peo-
pies money. believe that our business re-
lations put us truly in the debtor class,
and that our interests and their interests
are Identical. Therefore, be it
Resolved, That il is the conscientious
opinion of the members of this association
that the free coinage of silver will bring
upon our country the greatest financial
disasters.
Resolved, That we believe that statu-
tory enactment endeavoring to maintain
a circulation of gold and silver on a par
ity, providing free coinage for both, is
futile. Such legislation would wipe out
half the value of our property and our
laborers' gains. 1t could only benefit the
silver producing states by sustaining the
value of their products, while sacrificing
the wealth of every other section. and
bringing distress on the great majority
of our citizens. 1t must necessarily de-
stroy confidence in the financial system
of our country and hamper us in every
branch of trade and commerce, both do
nestle and foreign.
Resolved further, That President Nea
be requested to print and distribute among
| the bankers of Georgia 1000 copies Of his
| message, together with these resolutions
The resolution offered by Mr.. Burdel
of Savannah, urging the legation of a sub
| treasury in Savannah, was unanimously
| adopted.
A resolution was passed asking for tn
| amendment of the state law as to tn
! transfer of stock certificates.
The following resolution introduced b!
the committee on resolutions was passeC
unanimously:
THAT it is the sense of this association
/ that the business interests of the Unite,
| States demand a more elastic and respon
| sive currency than the present system fur
| nishes.
THAT we deplore any legislation tina
will provide a variable or wild cat curren
| cy.
THAT we hereby approve the repeal o
| the 10 per cent. tax on state bank issue
| as soon as proper laws are enacted to Sc
| cure safety, elasticity and uniformity to
! currency that is most readily convertible
We favor only an issue of bills that shall
be safe at par throughout our common
country regardless of bank failures o
financial panics.