The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-23


The resolutions adopted on Thursday by
the Georsia bankers al the annual con-
I vention OF their association ia Augusta.
contain a great deal Of common sense.
They also contain a warning the people
would do well 10 heed.
The BANKERS call attention 20 the efforts
that are made continually by a certain
class OF politicians and newspapers TO
create a prejudice against banks and ban
kers. the aim being to make the people
believe thar the banks are the enemies
rather than the friends Of the people. In
doing this the politicians hope 10
strengthen the side Of the money
question which they represent As
matter Of fact, however, the
banks are the friends Of the people
Their prosperity depends upon the peoples
prosperity. When there is confidence in
the future of business ana Industrial en-
terprises their deposits are large and they
have great demand for money, but when
there Is a lack of confidence and times are
hard deposits are small and the demand
for money is Eight. It is natural therefore
that banks should want good times.
They ought 10 be the best judges of what
kind of money is necessary to good times
Their experience gives them this knowi-
edge. just as experience teaches a farmer
how 10 manage his farm to the best add
vantage They know that sound currency
means good times and that degraded
currency means hard times for an classes
O people. Therefore they are solidly ar
rayed on the side of sound money.
Speaking of the silver craze the Georgia
bankers in their resolutions say:
Now it so happens that an immense ma
ieNe that great calamitles would
befau the whole country if GER
tain very extreme views about
our primary money should prevail.
The partisdns Of that policy do not desire
that our views and adv ice upon that sub
Ject shall nave any weight. We think ii
business question which we understand
DIETER unan most Rohticians, not because
We are wiser on all subjects, but because
our business makes us more Informed on
this one subject.
If these politicians succeed we wish IL
understood that IL was in despite of our
warning; thoi We TO the last protested
that we wished TO pay our depositors IN as
good money as we got from them; That 70
the last we besOught the disturbers of the
peace OF commerce TO let confidence IN
money revive, and when our depOsitOrs
rush on us for their money i'm advance of
the passage of such a law and in order 20
attempt to avoid loss before the law de-
preciates their money and when to meet
their just and imperative demands we are
forced to press collections and deny ac-
commodauons. in that awful rush of ruin
let 10 be remembered that we begged to be
spared the calamity to ourselves and to
the country.
once mora-when by reason of our gov
tnfHf FFH Igfrr
wrongly obtained credit on one basis and
then suddenly changed that basis to a low
or one-whcn by this act il shall have
suaned ltseli-then payment for the
our national credit will be low and our
interest high. Our national budget already
great enough to demand a most eXacting
tariff, even under democratic management
must become grcatcr-a higher taxation
must ensue-and our state largely depend
cnt upon ITS international export must en-
dure a commerce encountered by an UNI
hinged international eXchaGge-and must
buy in a high protected market with de-
preciated currency. and sell 10 q free mar
ket under the gold standard. In these pro-
positions there is not a man who has a
patch OF cotton that is not as much inter-
ested as are we.
If the people will read the foregoing and
give the views therein expressed careful
consideration they will be forced to the
conclusion that the bankers of Georgia
are right-that they aim to promote the
best interests of all classes, and also of the
state. They do not believe that there is any
great danger that the views of the silver
ties Will prevai-that silver will be made
the standard of value and that our cur
| rency VIII be degraded to the level of that
of Mexico and China-but the possibility
of such thing keeps distrust alive, makes
business stagnant and drives prosperity
away from the country