The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-08-26

the general prosperity. Too long has this
been disregarded. We have neglected our
opportunity. No such bitter feeling could
nave been entertained asexi. ting during the
political campaign of 1896 had the true
relations of the banks to the well-being of
the people been known.
AS administrators of capital we owe
1t to ourselves TO so conduct our business
as TO command The respect of our fellow
citizens. Without their respect we can not
hope to enjoy their confidence, and with
out their confidence we need have no ex-
pectation of success.
IF we as corporations enjoy equal privi-
leges with the individual under the laws,
now can We avoid the conclusion that as
corporations we are bound to assume equal
obligations. Associated capital is bound
to bear its true proportion of the burdens
of society.
"Some of you may say. and properly.
that as the laws now work the banks of
this country bear more than their share:
If so. it is but our duty to make the fact
apparent and so apparent that he who
runs may read Does the corporation as
sumo any responsibility to community
over and above n legal one and Il pecu-
mary one? Most certainly. As its pow
er through concentration of capital and
savings increases, its responsibility to
every worthy cause increases. Here is
where we fail i'll duty most of all. The
giving of money is left to the individual.
Within reasonable limits. every worthy
cause of charity and civilization should
have our recognition.
Banks should be mutually helpful;
there should exist no spirit of antagonism
that will prevent union of strength in
times of great emergency, a concentra-
ton of resources for mutual service to
each other, and the community, is Il
prime duty. No solvent bank or indus
trial institution should be allowed to go
to the wall if it is within the power of
the associate capital of any community
to prevent. The jealouses and rivalries
that often exist in II community are not
only hurtful. but dangerous. How can
any community have faith in us unless
we have faith in each other?
"The bank should stand in every COM
munity as the supporter of law and or
der. sobriety and good morals. il will not
do to have Your community, or mine. set
tie down upon the belief that corpora
tons have no souls. In Il business sense
it is not true. Where without the gen
crosby even of the banks would be many
of our industrial institutions today, in
situations which. by careful advice and
pecuniary assistance mt the right moment,
into conditions that promise prosperity?
'Of course the bank must have con-
slant regard for those who have con-
tributed its capital, its stockholders. Be-
yond this. however. 1t has an obligation
resting upon it not always recognized the
healthy prosperity of the people. In fact
the two go together.
1T is the duty of organized capital, ns
represented in this association. TO look
with scant favor upon all speculative en-
terprises. The money received over your
counter must be returned again. To
avoid this pitfall requires both wisdom
and nerve. The SPECTATOR. as such,
should receive no favor ut the hands of
the banks. If there are not sufficient
legitimate demands so that n banks cap
ital and deposits can be protitably used.
has no right longer TO do business.
'All institutions which hold the moneys
of the people in trust should be subject
to inspection. None but critical. able en-
perts should be employed. The private
bank has no right TO exemption. The
rule should be an memorable one:
1--WE have Il duty to protect the pub
| lie by due punishment of the criminal
The certain exposure of crime is an alb
soute necessity. The man who takes
| the trife left by accident in the I'LL goes
| to hard labor i'm the penitentiary. while
all too often the skillfnl capturer of mil
lions is invited TO divide and no action
will be taken This is not good banking
nor is il safe action. Capital if II would
be ultimately safe, must. even ut great
expense do its share in protecting society
by quick punishment of the offender"
In concluding. Mr.. Hollister said that
no duty was more plain than that to Their
employees. Consideration. fair play. due
promotion for merit and work. watchful-
ness of character and morals: the rear
ing of men not machines;" these things
they owed to their employees, soon TO be
their associates.
Bradford Rhodes. president of the Nam
maroneck bank of Mammaroneck. y. Y.
read a paper on Clearing House Tor COun-
try Checks Practicable"
&. Gmby Jordan. president of the First
National bank of Columbus, Ga, gave an
address on the subject, How Would Ma
tional Banks With a Capital Less han
$4,000 Be of Benefit to the Country
Mr. Jordan's address follows:
He said in part:
"A monetary conference commanding
and obtaining the attention of the chief
executive of 73,O0O,0O0 of Americans,
has lately declared that a banking sys-
TEN be. provided which should furnish
credit facilities to every portion Of the
country. and safe and elastic circnla
ton. and especially with view to Sc
curing such n distribution of the loan
able capital of the country as will tend
to pgualize the rates of interest in all
parts thereof Whatever may be the
individual views each of MS may have
on other financial affairs, to this demand
every member of this convention, every
banker. every right-thinking man in the
Union. can subscribe. In this moment
when political contests and professional
politics do not beclOud the question. ii
is = fitting time to earnestly seek
method 20 enlarge borrowing facilities.
better distribute the loanable capital now
cOngested in the centers. and phil from
its hiding place the idle boarding of sec
tons now lily provided with banks. The
ideal we may aspire to, perfection we
may hope for, but practical men rarely
expect 70 attain either. The agitation
now happily well inaugurated may
eventually lead us to an ideal monetary
system. including perfection in banking;
hut for one | expect neither at an early
date. So let us take what we have and
make .ho most Of il. The demand of
bankers for the retirement of the green
backs. the clamor of the agitators for
the adjustment Of the national banks
will neither. probably. find accomplish
mont i'm n,Ir duys Tho pnrty i'm nowpr