The San Francisco call., 1897-04-21
STATE BANKERS
PLEAD FOR COL D
Adopt Resolutions in
Favor of a Single
Standard.
Early Reconstruction of Our
Early Reconstruction of Our
Monetary System Is
Urged.
J. J. Valentine Of San Francisco
Elected President OF the
Association.

LOS ANGELES, CAL, April 20.-The
assembly-room of the Concordia Club was
1Iied to-day with bankers, the attendance
being considerably larger than that of
yesterday. Only one paper ives read
that by j. ]. Valentine of the Wells-Fargo
Bank on "BimetaIlism." Mr.. Valentine
quoted numerous opinions from tie
learned in finance to support his own
opinion that bimetallism was impractical
bic and impossible of accomplishment be-
cause the governments of Europe and,
after them, the bankers of the world, we're
against it.
"If Congress" said The speaker in con-
ciusion, would go TO work and recon-
struct on scientific principles our none
tary aggiomeration-fo / repeat it cannot
be called a system-definitely affirm the
payment of all obligations on the basis of
the gold standard, retire the green backs
and let banks, under proper restrictions
and safeguards, issue circulating notes
such action would go long way toward
renewed industrial and commercial &C.
tivity.
Ii the present administration and Con-
gress do not act courageously, intelli-
gently and definitely, but instead permit
things to drift. the fatists will not be
slow to take advantage of the situation.
Congress and the ad ministration cannot
| escape responsibility. They may as we'll
prepare, and promptly prepare, to meet
the wild and many weaponed throng OF
silver inflationists who are marching be-
hind the tattered, stalking posse of inter.
| national bimetallism."
James II. Thompson, chairman of the
committee on resolutions, presented reso-
| lutions indorsing the gold standard, which
| were adopted. Resolutions were adopted
thanking B. c. Wright and Colonel John
T. Irish for their interest and Iabors IN be-
half Of sound finance and for their learned
papers read before the association. The
following officers were elected for the en-.
suing year:
President-J. J. Valentine, Wells Fargo Bank
San Francisco
vice-President-J. NJ. Elliott, First National
Bank, Los Angeles.
Treasurer. W. Kline Croker W ool worth
National Bank, San Francisco.
secretary-R. NJ. WEIGH, San Francisco Saw
lngS Union.
The following were appointed vice-presi
dents for the several counties:
Santa Rosa, L. W. BURNS; Los Angeles
George Fl. Bonebra ke; Placer, V. w. Lubbock
Sacramento, W. V. Gerber; San Benito, A.
Tom; Su,ter, c. r. Boise; Tehama, W. B. Ca.
horn; fuba. A. G. Bingham; Ventura, E. B.
oAOy -. Aldneuds y. T.
Baker; Butte, A. H. Crew; Colusa, W p. Har-
rlngton; Fresno, ]. MacMullen; Glenn, B. II.
burton; Humboldt, :. Soule; San Bernardino
Luis obispo, L. F. Keiser; Santa Barbara. W,
NJ Elliott; Santa Clara, A. Frafnt; Solano
Ste phen g. Little; Stanislaus, A. L. Cressy.
A motion OF thanks was extended by
the convention to President n. u. Rideoui
for his untiring efforts for the success oil
the association. 1t was voted that the
selection of the next meeting place should
be left with the executive council.
The bankers will remain over and go on
an excursion around the kite-shaped track
on Thursday morning.