Omaha daily bee., 1897-08-18

which 1t takes its name, bess In mind that
the tonnage which Is buoyed by. the in
tSrousb Detroit river is as great as that
which enters the port OF London, the largest
commercial center OF the wprd And also lo1
Cadillac the founder of Detrp,!, first entered
this broad strait with Q fleet of twenty-five
birch bark canoes which coup now o5e 6e stored So
and sailing vessels, manned by over 5000
men which yearly comeland 60 from Detroit
BETTER BUSINESS CONDITIONS.
Gentlemen of the American Bankers AS
sociation: one year ago we met IN our
twenty-seCond annual convention at st.
Louis where through your Kind partiality
l was most highly honored by being elected
president of your association. At that time
the country was In the throes of national
elections party spirit ran nigh, and prejudices
were aroused as never before In my expert
ence; the finances of the country We're seri-
ously imperled and confidence shaken. At
that meeting this association, composed OF
class of business men who were Intimately
connected through business relations with
every branch of industry, and representing
about billion of banking capital, declared
most emnhatically that gold was the only
safe standard of value, and that this great
country, ranking as one OF the foremost
CONNIE rc!al nations of the world. could not
Join with other nations OF lower commercial
rank in fixing on baser metal as the basis
on watch a sound currency should rest.
a heated canvass and discussion of nearly
: a year the people of the country, through
the ba lot box, fully and completely endorsed
your position The results that were reason
ably expected to follow this action of the
people are being slowly but surely realized; [;
confidence the foundation Of all commercial
prosperity, is being restored. This assertion
needs no argument to establish its truth; 1t
can be seen and felt by all who are are. n not
blinded by prejudice, and whose sensbilite,s
are not callouSed by ignorance. No one VIII
deny that our country, for tae last several
ygaFs waters ofs of gsy TAts we ali know and
: fully realize; yet, white we hope and feel
| that we are now where the bottom can be
| reach the shore of prosperity. we want that
| prosperity to be based on the sound founda-
ton of confidence. We want nothing
| sporadic, nothing sectional no prosperity of
1 a class, but general rosperty-prosperity
! not only for the banker, the merchant. the
! manufacturer, the farmer the mechanic and
! the laborer; in a word we want a pres
perity which will reach out and touch every
! section industry and business in this great
working, and this end we. most certainly
viii, reach by honest, united, continued and
determined effort.
| ell a strong committee was created to begin
and push the work of bringing about uni
formity in financial and commercial laws
port will show considerable progress in the
| work. but it is a work which will, of course
require time and persistent effort to accom-
plish. This demand for uniformity of finan
cial and commercial laws, is not a pure.S
selfish demand, but is made for the good o.
all commercial interests. We ask no specia
| privileges, but the time has come when no
only the banking interest. but every othel
commercial interest demands unitormlt!
in laws which will not retard, but furtaei
both loca, and interstate commerce, and thu
advance general prosperity.
Another committee has been created Whos
duty is to get up and distribute broadcas
correct information in regard to the relation
which exist, or should exist between bank
and the people. Banks are not necesSar.
evils; they are necessary instruments o
agencies of commerce; Incorporated they be
come artificial persons created by law am
| governed by law, and so long as they ar
Ilaw- abiding like the law-ab ding a ural p r
son. are entitled to protection from the .aw
, | Banking is a legitimate business, just n
much as any of the other of the varied pur
suits of men. 1t IS business which shoul
be engaged in only by the citizen, never b.
the government For our general or stat
, governments to engage in the business o
, banking, is no more legitimate or polite tina
for those governments to engage in manu-
, featuring, farming or any other, cuisines
| which would come In competition with IN
? pursuits of the citizen; The right of tn
: | government to control through equitable an
, uniform laws business conducted by tn
/ | citizen does not and should not carry wit
, it the right to enter into such business o.
government account. Violation of tAis prin
| ciple by the government Uhough that viola
} tion was possibly forced by the necessltie
4 of war;, has worked harm to the commercia
\ interest of the United States, and Is now
standing menace TO confidence as 1t invite
raids upon the treasury of the goVernmer
by the INSCRIPTIONS SpCCulatOr IN Solu, an
f places within the reach of financial harce
4 the means of creating oanics, upon whic
: they thrive. OF course allude to the goN
+ ernment Issue of legal tender paper, and q
e not hesitate to assert that the commerc!i
n welfare of this country demands that thes
legal tenders should be retired. wheneve
f some pan shall be devised by which the vo
{ ume of sound currency in circulation sha
9 not be reduced by the retirement of tn
greenbaGk That this problem m ca can nndrM and WI
l do not doubt for one moment and II
influence Of this association should I
- pledged to that solution
q The annual report OF the secretary, jaime
g R. Branch of New York City followed
s The secretarys report shows 9S2 new men
+ bers received during the year ana tot
d membershio of 2SlS The receipts Tor II
e lost on account of the new schedule of due
n which went into effect September !, 1S9
j. making total of Sn lost members. Tn
i decreased the membership at the beginnir
e of this fiscal year to ls25. me roll no
e banks, 756; savings banks. 247: trust con
IS panes, 1872: private bankers, 225; total, 2.Sl
e with combined capital and surplus or Sssl
IS 6O775S; and deposits of $3l7S, l4O; tota
$, S,1I3 439,S9S
o FREE FROM RAIDS OF BURGLARS.
r Joseph C. Handrix OF New York submlte
p the report of the protective committee whic
ID is composed of three bankers whose name
% are kept secret and who act under the dire
g for the arrest and prosecution of partit
he charged with crimes against members OF Il
" association. During the past year not
l. member of the association has lost dolli
e through burglary, and every profession
~ operator to whom the attention OF II
o protective committee has been called h;
Of been either convicted. is awaiting trial
st has been released on turning states eyidenc
~ Mr.. Handrix called attention to the fact tn
c, there has been no notable swindle or forgel
% during the year.
"a Alyah Trowbridge of New York, chairm
rs Of the executive council 9 said the only In
rs portant busiuess OF last rights session WI
n the consideration OF two Amendments to Il
al constitution. subcommittee on the amen
=. ments had been appointsds and ]. C, Handri
m its chairman, reported favorably on u
e proposed amendments. One of them i
ly creases the representation of the state a
~ socation in the executive council from thr
Of to five, and the other puts the nominate
of officers more largely Ahe hands OF mer
g. bers OF the conveation instead of lsavlI
lie 1t to the council Both amendmepts we
unanimously adopteds
W The report of the; committee on unlfor
te laws was read by Frank w. Tracy of Sprin
id field Ill. The report begins follows:
UNIFORM COMMERCIAL LAWS.
Your committee on uniform laws was
rected by the executive council at its mec
IN ing In April last TO prepare, with such leg