The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-08-20
THE BANKERS.
INTERESTING PAPERS READ BE-
FORE THE ASSOCIATION.


FORE THE ASSOCIATION.
John p. Branch of Richmond. Va, Out
lines a Financial Policy For the Govern
ment-A Committee to Consider His
Proposition-An Address by Comptroller
Eckels-Representative From the Va
rious States Give Encouraging Accounts
of Business and Crops in Their Sections.
Detroit, Mich. August 1S.-The star at
traction at today's session of the bankers
convention was Comptroller Eckels. At
the conclusion OF his address he was sur
rounded by more than score of members
who pressed forward to congratulate him
and shake his hand. a vote of thanks
was unanimously given the young comp
troller for his speech. While Mr.. Eckels
was speaking, standing room was hardly
to be had in the theatre, but soon as
he had finished the audience rapidly
dwindled, leaving such a wide expanse Of
empty seats that most of the addresses
remaining on the programme were put
over until tomorrow morning. This makes
the list of papers for the final day OF the
convention a very long one and as d trip
to the distillery of Hiram Walker & Sons,
at Walkervile, Ont, is scheduled for
o'clock tomorrow it Will keep the dele
gates busy to dispose of all their busi-
ness.
The naming OF the committee on nomi-
nations was the first business transacted
this morning.
representative from each state was
then called upon to give brief state
ment as to the general condition of busi-
ness in his locality. This drew forth in
every instance reports of good crops, re-
viving business and encouraging prospects
for bankers. Marked Improvement in
business conditions and indications for
better things in the future were the char
acteristic features of all the state reports
as detailed by the delegates.
Henry w. Yates, Of Nebraska, said the
golden grain of the ripened and ripening
harvests in his state did not reflect the
calamity tint to which the utterances Of
SO many of its public men and the vote
of the state last fall had seemed to con-
sent.
John w. FaXon. of Chattanooga. Tenn,
derided Mr. Bryan's claim that the price
of silver controls the price of wheat, and
said the recent fall of the one and rise
Of the other offered conclusive proof of
the falsity of that claim.
Only a few of the states failed to re-
spond with a statement Of industrial con-
ditions.
When Comptroller Eckels came forward
he was greeted with a most generous
round of applause. Throughout the read
ing of his address, the large audience
gave him careful attention.
banking auestions ii Followed u Mr.. petis Eekela
address, rs Credit Bureau Or Bureau
| of Information to Prevent Losses from
| Bad Debts Possible Among Banks?' was
| the subject of the first paper, read by
John H. Leathers, of Louisville.
| Mr.. John P. Branch. president of the
| Merchants National Bank, of Richmond,
! Va, in discussing the question: What
| Legislation is Needed in Respect to the
| Currency?' said, 'Imaintain that our cur
| CT the best will serve the higher and
larger interests of our country. Its value
! should be fixed and stable. 1t should be
| adequate to the needs of the country 1t
should expand and contract automatically
! 1t should be simple and uniform. 1t Should
| be so distributed throughout our territory
| that every man entitled to credit should
| be able to obtain it's use at a fair rate.
| "a competent non-partisan currency
commission should be appointed and, it
seems to me. they should advocate:
l. The final. adoption of the gold
| standard
2. THE gradual cancellation of govern
| ment demand notes, said cancellation to
be not faster than new currency is issued
| by the banks; the deposit of government
| revenues in the banks of the country and
| the retirement of the government from
| the banking business.
8. "They should advocate the repeal OF
| the tax on the circulation of banks, and
| thereby make possible the issue of a cur.
rency which will expand and contract au
| tOmat1cally with the needs of the cOun.
| try: said currency to be under the super
/ vision of our national government to be
surrounded by ample practical and eff
| cient safeguards.
IF the currency commission does mo-
solve the problem and guide the people
to demand currency reform based or
eternal principles, it is my solemn con
viction, that with the inevitable return o.
hard times, the people will solve the ques
tion for themselves and free silver ma,
| be the least of our evils"
A committee will be appointed to tak'
| action on the suggestions embodied il
! Colonel Branch's paper and report at thu
next meeting of the association.
| AT o'clock the convention adjourned
| until tomorrow morning.
| The following members of the executive
| council were chosen tonight at a meetin.
| held on the steamer Pleasure: Joseph
Branch, Richmond, Va; F. w. Hayes
Detroit: A. G. Campbell, Natchez, Miss
F. G. Bigelow, Milwaukee; J. c. Hunter
| Duluth. The other five members of tn
council will be elected tomorrow morning