The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-08-20
Association Of Moneyed Men
Ends Business.
NEW OFFICERS ARE CHOSEN.
Needed Reform Of the Currency and
How IL Can BE AceompIfshed-Th1
Great work Done bv saving.
ban1s-A Currency Commission
Proposed.

DETROIT. Aug. fs--he tvantv-thira
81 .sa4 convention Or the American Bank
Association came 10 an snd al !
cl1rk this afternoon According 70
Precedent. Vice President soseph c
dsi"rteEz. Of New York vas raised 70
he Once OF president. George II Rus
ssh of betrufs. received large majority
81 the votes cast for vice president. al
tAo4Sn TIRE nominating committee had
recon- amended F. " TRACEY OF Illinois
for the honor. Business was transacted
VIII rush today a number of papers
having been carried over from yesterday.
Several papers were ordered printed WITH
cut being read Luncheon ~ the great
aistlllery of Hiram Walker d Sons at
NaikervIlls. Ont. ard a boat ride 10 the
Des Chree Shos Ka. this afternoon wound
up the social features of the meeting.
The question, hat legislation 3. aeed-
80 in resPect 10 the currency" u.s dis
cassed IN an interesting speech = .Nr X.
=. Van siyse. president of the zEsfst Ma
tionai bank Of Madison Wis. ~ speaker
suggested as the fEs; lmDcr - ssep. q
currency reform by evolution-reg
q sreanhsck aud treasury notes. float
Ing debt ard a practical business method
% funding this debt into per cent gov
eminent bonds such 9 Per cent. bonds
II payable Ia fifty years. said Mr.. Van
SIyke. and irFedeemabie before that
time. w0gld take up tae present bonds SIS
they mature and. Il by permitting banks
70 issue kheir circulating notes upon the
par Of sach per cent bonds in The same
proportion only as the governments csrcu-
iatlng notes, mIgat be redeemed and then
forever retired. Il would keep the volume
of all currency undistErbed by a gradual
decrease e one class and corresponding
inereasefof the other until entirely doing
away VSth the governments banking bQsi-
ness Gssd placing Il with the banks. where
Il e5slmately belongs"
Hings Banks" was the title of a pa
perfead by Myron f.. Herrlck. Of CIeYe-
- lie mentioned 8 0@9 90 deposstors
wfth more than 8 90 0o10 of deposits in
less than 908 savings banks a. having
entered the financial school last year and
graduated on November 8 ISs8. Touching
on government savings banks. he pointed
ont the difference between this country
and European countries. for the latter
have permanent debt TO employ the peo-
pies money. whiie this countrys debt IS
rapidly ilQuidated IN prosperous times
He added. Besides this scheme is not
consistent wlth the srir1t Of our form or
government. WITH nations abroad the
tendency and policy = 90 make the people
subservent 20 the government our the
ory looks 20 making the government Sub
servient - the people"
lie pointed out THAT the savings hanks
have absorbed practically all the m1inirt-
pal and state debts and with individuals.
rfrta-tenfhs OF the national teot. and carry
the real estate loans and half the railroad
aebt. THESE were signs that the United
States IS changing from debtor 10 q
creditor ration.
In 49, adde's. on Organized Capital;
IT'S Privileges and Duties" Harvey Hol-
lister president Of the Grand Rapids
Clearing house. dealt with the power Of
associated capital and the need OF con
troll due 50 the fact that such combint-
items lose the human. personal quality
in action" lie blamed the banks Tor
nezlccfing their duty 10 educate the pc0-
pie as 20 the real relation q hanks TO
their material welfare and said that 70
such bitterness could have been enter
safned as existed during the political
campaign of 1885 had this been done. Re
went on 20 speak % the obligations of
eaDftal 10 bear its share of social bur
dens 10 support law and order. sobr'ety
and morality. 70 discourage speculation
ara 10 punish crime.
Bradford Rhodes spoke or. Are Coun-
trv Checks Practical" He submitted IN
exhaustive plan accompanied by c4t-
grams showing his proposed method ct
facilitating tho collection az country
checks Gunhy Jordan. president Of rhe
Third National bank - Columbus. Ga.
gave au address on the subject ~ t}9"
Would National Banks VIA Capital 90
less Than E0go BE ~ BENEFIT 20 the
Country Would Branch Banks Ea
Terearial or th. Reverse Was discussed
hv william s.. Cornwel president cf the
CIV Rank of BuGalo. n Y
Frank " Tracy presi5ent of the First
National Bank of Sprlrgaeia. HI. read a
raoar on the subject what Gan Be Done
- Increase ne Usefulness Of the AmFft-
can Da9kers' AssoCauonT Papers fol-
4avsea on currency Shipments by Eesis-
eares NsN" by Charles r. H8nEsn. prs ss-
fut og the lows Bankers' Association.
ana "Fsxpresz Money Orders by T.. l..
prva~ sacretars Il she Georgia BanksTs'
A-eoeia.fcn Those prepared by Lawysn nce
u Keno. = Maryland. sr3 Eugene Il
paWan of ~cw fesk were wltadrawn by
tha4r rnfhors. og acca- -nt q t1f bitterness
81 me haur. and ordered printed Ia tAe
Etroc-edine~-
A resolution WAS adopted ay the ca-a-
,,,f--aA rresuE CONGRESS promptly g. pro-
vide Tor a comp tent uon-E-Ttistln c'-rrec-
,,v commission ta t1.e end that sound iySis-
-Lstaa suaE sg- allE as secured
r-errt Sc ine death 0f "3liaU 2 s.
Jarn. ~ New YORK was expressed .n a
rss-i-.iaa one-eG ay y p. Van SlyEe-
---s members of t6s eXecl'-v committee
,fs-.fa are J. Il cannon NeV fcTS. =
~ tr-sluxcou ohl3. z J Lrwry. Geor-
-. j p F.n8fav r. ns tVarfs. ! E.
SIS West Virginia After g. "a. Paleu
- New YORK haa pys-He3 faa retc1s<
,--..fsrt r. tnwrs wi b --nd ~
s~.vst ara installation % oHleers ccox
49,. .-a fN@ l-.s-r ree.t.nn sHf-LfutE Size