The age-herald., 1897-08-20
MASSES NQs THOUGHT OF
Twenty Third Z lual Convention of Na-
 tiOF 7 Bankers Ended.
GOOD OF 'iE BANKERS DISCUSSED
But Nothing For Those Who Help Pay the Bank Officials Joseph c. Hendricks, of New York, Elected President,
 Russell Vice-Presdent.

I Detroit Aug. 19.-The twenty-third an-
 nual convention of the American Bank
 CTS association came to an end at 1 o'clock this morning. According to prsce- dent, First Vice-Presidemt Joseph Hen- drix, of New York, was raised to the office Of president George II. Russell. the votes cast for first vice-president al-
 although the nominating committee had recommended Tracy, of Illlonis. for the office.
 Business was transacted with a rush | today. a number of papers having been carried over from yesterday and several were ordered printed without b=ing read. Luncheon at the great dstillery of Hi- ram Walker 6 Sons, at Walkervllle. Ont. and a boat ride to Des- Chez -Hos-Ka, tl1.s afternoon, wound up the social features of the meeting
 While at Walkerville several in- promptu speeches were made. Retiring President Lowery responde to, repeated
 calls, and was followed in rapid success sion by Messrs. Hendrix, Leathers,
 Powers. Jones and others. Then the | twenty third annual convention of the American Bankers association terminat- ed in a combined burst ofg patriotism ed in a combined burst of patriotism for the stars and stripes and God save | the Queen," rising together from thous- ard throats. The band played Dixie" and Yankee Doodle," alternately, and the delegates from all sections of the country united in pronounc.ng the con- ventlon of 1897 an unqualified success.
  promptly at o'clock and the reading of papers left over from yesterday taken up. The question: What legislation is needed in respect to the cuws ncy?" was
 discussed in an interesting paper by | x. B. Van Slylle, president of the First National bank of Madison, Wis. The i speaker thought reforms to be perma- nent should be gradual rather than radi- l cal and in this connection he suggest ed as the first important step curren-
 cy reform evolution, the retirem mt of the
 troublesome greenbacks and the tr; as-
 ury notes, a floating debt and practi-
 cal business method of funding this debt
 in three per cent government bonds in
 denominations from fifty to one thousand
 doiiars each.
 Savings Banks" was the title of a
 paper read by Myron T. Herrick, of 1 Cleveland Harvey J. Hollister pres-
 dent of the Grand Rapids clearing house, i spoke on "Organized capital, Its privi- l leces and duties" Bradford Rhodes, of Mamorencls N. Y, discussed the question ''Clearing house for country ch cks prac- tical.'
 MT E. c. Born, of Columbus, Ga, dis cussed the question of whether nationai banks of less than $5o,OoO capital would be benefit to the country!' He answered it affrmatively. That tha needs or the l country require small banks is indis- 1 putably proven by the statistics of their l organzaton. He said:
 "Since January 1, 1S99 230 national banks have been organized Of these 80 per cent have been s1ooOOo and un- der and of these 93.77 per cent GAO have bean of the minimum capital allowed by law, namely, s50co0. The pessimst alone, haIo-like, is without occupation. Tn fairness. in justice and wisdom, ls't our law-givers settle the currency ques--