The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-16
TWO DECIDED POINTS
The First Is That the Gov
ernment Retire From
Banking.
CALL in GREENBACKS
Guaranteed Notes the DeSir-
able Form of Paper
Money.
NON=PARllSAN PLAN
State Associations Asked to
Urge Action on
Congress.
NON-PARTISAN PLAN

n LIAM la, I'd, Dec. lO.-Ine SOUTH
ern bankers convention met here to-
day on the call of the Atlanta Clearing
House association to consider currency
reform and recommend measures
which will give an elastic currency
and take the government out of the
banking business. The session was
opened in the ball room of the Kimball
house at 10 o'clock by George r. De-
saussuere, vice president of the Ex-
change bank, of this city, who inaugu-
rated the movement. John A. Davis, of
Albany, Ca, was elected president,
and Darwin G. Jones, manager of the
Atlanta clearing house, secretary. L.
P. Hillyer, Macon banker, was chosen
assistant secretary.
George r. Desaussuere welcomed the
convention and spoke Of the need of
currency reform from which would
grow sound and elastic currency, and
invoked a spirit of non-sectiOnal pa
triotism in its consideration.
President Davis declared himself to
be in full sympathy with the move
ment for an elastic currency, but he
said that the standard must be that
of all nations.
welcome dwelt upon the resources of
the South needing currency for their
development. He urged that coin alone
was insufficient for any prosperous
country and that the provision in this
country for paper money were war
measures, now entirely inefficient. He
advocated the retirement OF greenbacks
and treasury notes and the substitu-
ton of banks of issue under federal
control He urged that the percent
age of charge on the issue should in
crease as the percentage of Issue in
creased, thereby making a currency
with elasticity sufficient to meet auto
matically the needs of trade. He in
sisted that the government regulations
should apply as we'll to state as ma
tional banks.
The convention adopted without de-
bate by unanimous vote the following
resolutions:
Whereas we believe that the time has
come for Southern bankers to successfully
demand better banking facilities from the
congress of the United States, we, the
bankers of the South, in convention as
sembled. hereby suggest such reformation
in our banking and currency laws as will
First-Take the banking business out Of
politics
second-Take the government out of the
banking business.
Third-Avoid the expense and danger al
ways attendant upon government issues
by the retirement and cancellation of the
greenbacks and the treasury notes of 1890
(by the substitution of bank notes..
Fourth-TO demonstrate to the world
that the credit Of the United States is as
high that of any other nation.
Fifth-To demonstrate that our measure
OF value being definitely determined and
permanently established hundreds Of mill
iops of dollars from abroad and at home
VIII seek investment here.
SiXth-To keep every dollar of our cur
rency good enough to pass current in ey-
cry land
Seventh-To increase the amount Of gold
and silver in circulation among our peo-
pie.
Eighth-To give smaller towns the ad-
vantage of better banking facilities, so
that every honest man will have meted out
to him the credit he is entitled to.
Ninth-To give producers Of every kind
in every section ample currency at reason
able rates of interest, to handle and hold
their crops or manufactures until they
desire to dispose Of them.
Tenth-To give lower and equalzed rates
Of interest throughout the United States.
Eleyenth-TO reduce our eight different
kinds Of money to only two, viz: specie
and bank notes
Twelfth-To protect note holders and de-
positors under just and equitable law and
supervision.
Thlrteenth-To make all banks equal
under any law of the United States pro-
vidng for banks Of issue.
Fourteenth-To prevent bank panlcs and
currency famnes.
Resolved, That It Is the sense OF the
convention that business men Of every
state should come together in a spirit OF
harmony and reason and agree upon such
a financial and banking system as will
bring prosperity and happiness to the ma
tion.
That we believe this can be best accom-
plished by allowing banks with a capital
of $4,000 and over to issue notes 10 cir
culate as money on commercial assets
That our senators and represent tatives
be requested 70 use their best efforts to
have the present congress actively take up
the question of better banking facilities
and to urge the adoption Of such a sound
and scientific system of banks of issue
as will include all solvent banks. state or
national, under wise and just federal
administration and supervision.
That the laws of the United States per-
mitting state or national banks to issue
notes TO circulate as money based upon
commercial assets the banks should ba
required to aid the government I'm the re-
tirement Of the greenbacks and Sherman
notes in such manner as may be prac-
teal and to the best interests OF the peO-
pie and the government.
That the bankers association Of each
Of the Southern states be requested to ap-
point delegate of one to go TO Washing
ton and aid in securing federal legislation
upon the line indicated in the foregoing
resolutions.
That the chairman of this convention
appoint an executive committee to be COM
posed of one banker from each OF the
Southern states, which committee shall
be charged with the duty Of urging legis-
lation by the State Bankers association
at once and carrying out the purposes OF
this convention as expressed In the reso-
lutions as adopted