The age-herald., 1897-08-18
BOASTS THE GOLD BUGS
And Takes Up the CudSel in Favor of the
 White Metal.
SECRETARY BRANCH'S REPORT
Shows Healthy Condition of the Association n- Some Proposed Changes-Uniform Law o
 for Commercial Paper Recommend |
 ed-Hot Fight for Offices. 9g

tss .!e interests of the country were well rep-' resented this morning when about 800 delegates of the American Banking asso1' citation were present. in the opera hoirse to attend the opening session of -fAre- awenty third annual eenNention of that body. President Lowry presided The welcoming speech of Governor Pingree, while considered somewhat radical by. some of the members, was on the whole we'll received anld he was given gener- ous amount of applause. At it's cnnclu-4 the Dtltroit clearing house, administered a mild rebusa uo the goverrror by say ing that he had only been in the banking business eight or nine years. ard wolld not, therefore, attempt to deliver homi- ly onl the silver question or the evils of corporations. The applause which greet ed llhis sally showed that a hit at Mie,li- gams corporation governor was uafier- stocd and appreciated. At the conclus on of the session the s.ate delegates met to appoint their members of the nominating committee
 There is scarcely doubt but thnt Jos eph c. Hendntcks, President of the Ma tlonaH Ulfon hank of New York City, finst yice-president of the association, will be chosen president The prospects are that tlhere will be a lively contest for the vfce-presidency when the election of officers Is begun. Frank W. Tracy, of was a candidate last year, but was sfe- !ela;ed fby Hendricks and his friends think, he ought Ito get 1t thts year. eSe- lAlyah TI,Jwbridge, chairman of the ex-.. ecutive committee, is also a candidate. for the vace-presidency and last but by no means ll1e least the Detroit bankers are determined, if possible, to elect Geo. H. Russell, of this city, to the position! In the course of his speech Governor Pingree said:
 q do mot pretend to fully understanii day manufacturer of shoss, but have Thought which wish to x art rolling for discussion. Whatever mens' ideas, may be upon the subject as to what money m:tal of ultimate red dlsmplien is best in the worlds commerce and none tary systems it is corl,edsd tha. winch silver gradually ceased to be part of lhe stock ussd for such purposes in the bal
 
 ance of trade and otherwise ilre ayails,- ble amount of primary money waa re- duced about one Daf To remedy this state of affairs 1t is sough: to effect an arrange ment among nations whereby IIhe unit of measure may again be in either gold or silver at a ceiaain iatio ,caMedy binlellaliism. ida
 Should 1t be impossible to effect such an agreement or should the people of the United staes decide hereafter to use gold alone for the purpose of ultimate redemp-. tion. condition of affairs may be inag- ined when such large proportion of the str'ingency in gold coin will occur The used and consumed in the arts that a use of goIi in the altts Is now inicre as '1iy from year to year. As l understand it the principal purpose of remone.izing sil- yer. whether with or without foreign as- sent, is to increase the available supply of. ultimate redIsmiptdon money"
 As on'e method of increasing the stock of the worlds coined gold Governor Pm gree suggested that some way be depisai to prevent the ircerasing of golYd ffa ;fafs '@rts, for instance tax upon gold inaiiu- factured in the shape of jewelsy, gold leaf. etc .~2a Governor Pingree then weaut into an