The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1896-09-26
BANKERS ARE FOR GOLD
THEY SO DECLARED IN 2aD ANNUAL
SESSION AT ST. LOUIS.
They Respect some silver Men fol
Their sincerity An Honestly Adj
vocAtinE Dishonesty.

st. Louis, Sept. a--There assembled
at the Olympic theater today repressn-
natives of more wealth than ever before
came together in this city al one time.
II was the first session OF the twenty
second annual convention of the Ameri-
can Bankers Association. Delegates
were present from all parts OF the couA-
try. representing at least one billion dol
lars The convention will be in session
three days. There will be a general dis
Sussion Of reports and matters pertaining
to banking.
About 40 delegates assembled at the
Olympic theater at 10 O'Clock President
4 II. Pullen OF New York called the con
vention to order. Mayor " anortdge de-
nvered an address Of welcome, W. n
Thompson. president OF the St Louis
clearing house, welcomed the delegates
On behalf OF the local bankers
F. n Pullen president, Ia his annual
address sail In part. We have assem-
bled here oil this occasion. codlinS troin
the north ard the south. ard from the
east and the west but We are rot divided
geographically ~ sectional differences,
We are proud. even in these troublesome
tines, to call ourselves American ctti-
sens
The American Bankers Association
during Its - years has stood for honesty.
Individual honesty. official honesty, nA-
tional honesty; has always stood for an
honest dollar worth lou cents ard Ic-
septed as such in all the markets OF the
world We should occupy the same po-
alton today. and far from desiring TO
modify our past record, We should con-
nrm and reiterate It without phases
Dishonest money. because it is dishonest.
attracts the lawless and Evolutionary
element-the socialist. populist and an
0rchist- The issue today IS not excl1-
slVely honest money. but the very eN
ktence of government and the prestrVa-
ton Of law. LIFE and liberty are at stake
banks, especially national banks, have
been assailed b. the vituperatious OF tg-
aorance and passion
Through the national bank system a
market was opened for United States
bonds, yielding the money necessary for
the prosecution OF the war. for the pres
arvRJion Of our Union, ard currency
provided that has never been excellad
for safety. universal acceptance a. par
and immediate redemption. Ninety
three per cent Of the business OF this
country Is transacted by checks and 9th
or negotiable Instruments. Eliminate
the banking facilities OF the national
banks and their circula ton. and substi-
tute dishonest money as the vehicle OF
trade, and a chaos would Immediately
result. Cotton and cereals could not be
produced; II produced could not &c mar
keted- Transportation would be para
lyEed. the wheels of industry would csa =
to revolve. enterprise and develop men
be checked and the land plunged int
ruin and misery
Many sincerely believe It Is true thu
the free and unlimited coinage OF sill
yer at the ratio OF 10 to l. and the pay
ment OF existing obligations public ans
NaFSnnaI n 10 FOR rN.
highest good OF the country We respec
their sincerity in honestly advocating
dishonesty. but regret their hallucind
ton on the subject, and are sorry to se'
them In such dtsreputable company.
The question has finally been referreC
to the ballot box for settlement Their,
Il a God who presidas over the destinies
Of nations Let US do orr duty. and thar
trust Him in the present crisis OF oul
beloved country for the Preservation o.
Its honor and liberty inseparable for, p:
burke said. What is liberty without wis.
dom and WITHOUT virtue7 Such liberty
Il the greatest OF all possible evils. fol
II Is vice and folly. and madness with
out tuition and without restraint
From liberty without honor or virtue
from dishonesty. from lAwiessness, from
anarchy and ruin, good Lord deliver Us
At the conclusion OF Mr. Pullen's
address the reports OF the executive
council and protective committee were
read by Chairman Joseph C. Hend-ey
president OF the National Union bank OF
New York The report Of the executive
council states that. In Its opinion. rhe
existing commercial depression is imme.
diately due to the attacks which threat,
en- to overthrow the present gold stand
ard of value, and adds in part:
We further believe that our full meas
Of national prosperity will not be gained
until the whole world understands tbs
dollar Of the United States Is 10 cents
worth Of gold, and that the nation In
tends to keep 1t at that value.
We believe that an opportunity Is pre-.
sented BY the issue OF the political cam
paign to give lasting definition OF the
dollar as a money unit, to permanently
settle the foundation Of our money sys.
tenn, and to remove the menace OF ar
overturn Of value and far-reachlng ruin
and distress. which a descent to a silver
basis would involve"
The treasurers report was read. In tn,
absence OF that officer. b. William II
Porter. Of the Chase National bank OF
New York. II was followed by the report
Of the auditing committee.
Secretary Branch 5 annual report says
that the close OF the year 1896 shows the
largest membership in the history OF :he
association. In lsS9 the association mad
mo- members. This was the maximum
number until the present time. Ths
membership had shrunk low as l}g3
and the ass Ociation. by the secretary. )
report, has made a net loss Of az mem
oers from 1879 TO and through 1885. Since
September !. 1885. CAS- have been added 70
the list and Il lest. large proportion Of
the latter having been either assigned
or liquidated.
F. w. Hayes. president OF the Preston
National bank CT Detroit, read the re
port Of the committee on express money
orders There was no discussion and
an adjournment was had for the day