Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-09-24
THE BANKERS, CONVENTION.
Report of the Executive Council fn
Favor Of the Gold standard.

Favor Of the Gold Standard.
At the conclusion OF President Pullen's
address TO the Bankers Association at 81.
Louis Tuesday the reports of the execu-
tive council and protective committee were
read by Chairman Joseph c. Hendrix.
president OF The National Union Bank of
New York The report of the executive
council was declaration in favor of the
existing gold standard. Ii states that in
its opinion the existing commercial depres-
sion is Immediately due to the attacks
which threaten to overthrow the present
gold standard of value and adds ian part:
We further believe that our fun meas
ure of national prosperity Will moi be gain
ed until the whole world understands' that
the dollar of the United States L. loo cents
worth of gold and that the nation intends
10 keep il al that value.
We believe that an opportunity is pre-
scented by The issue of this political cam
paign TO give lasting definition of the
dollar as money unit. to permanently SET
lie the foundation of our monetary sys-
TEN. and 10 remove the menace of an over
turn of value and far reaching ruin and
distress which a descent TO a silver basis
would involve
The -treasurer's report was read by Mr..
Hendrix In the absence of that officer. MIR.
| VIM. II. Porter of the Chase National
Bank. New York. II was followed by the
report of the auditing committee.
Secretary Branch then read his annual
report.
Secretary Branrh's Report.
Gentlemen: / have the honor TO submit
the following report:
THE close of the year 1895 shows the
, largest membership in the history Of this
| association. In 1879 this association had
] $50 members
The records show that during the last
| eight years this association has a gross
| average annual loss Of DO members. In
| the past year. however, We have only lost
"a members, having regained ~ Of the io5
| who were dropped from the roll December
| ], according 10 article of the constitution.
| A large proportion of the a. lost members
| either assigned or liauidated.
| Il am glad to report that this Is the
| largest increase in the history of the
| ISOLATION. and the smallest percentage Of
| loss of old members.
! This Office has, Without additional help,
sent out over 11,o0 pamphlets and cir
| cuiars during the past year. Fifty thou
| sand circulars were issued from different
parts of the country 10y our officers and
| members, and reaped good results. These
| circulars, being indorsed by the banks who
sent them to their correspondents. carried
| additional weight and saved postage: the
| total cost being SlIa.p while the IL 5sn
| circulars and letters issued November H.
| 1894, by the old process, cost s6l1.55.
Il am pleased to add that by getting
| hlds Tor printing our proceedings We OBJ
| tanned a deduction of s42Sp from the price
| and even these figures could have been re-
| duced but for the fact that a large amount
| of the work was already done when this
| reduction was requested.
| The treasurers books have been kept
| In this office for the past year. with th.
| usual complement of clerks saving an adj
| Gitional $.Jn.n year
The dues of the members who have join
ed and have been regained since Sepiem-
Der j, 1St5. amount to 81 5000 annually
| This Increase Is largely due to the united
efforts of officers and members. and The
publicity given to the good work of the
protective committee by the financial press.
ana If this association continues to impress
on bankers who are not members that good.
practical benefits being reaped daily
by those who belong many more will Join. -
| Mr.. F. w. Hayes president of the Pres
| ton National Bank Of Detroit. read the
report of the committee express money
| orders. There was no discussion and adj
| journment was then had for the day.
| The delegates and their families then
l took carriages and were driven TO Union
| station. where lunch served. after
| which they made a sightseeing trip. Last
| evening the representatives of the trust
companies attending the convention mel
in the Planters and formed a national as
sociation of their own