The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-20

fellow citizens. Without their respect
we cannot hope to enjoy their confidence
and without their confidence we have no
expectation Of success"
COUNTRY CHECKS.
Bradford Rhodes. president OF the
Mamaroneck Bank. Mamaroneck, n. Y.
read an address on the subject Are
Clearing Houses for Country Checks
Practicable?" He said in part:
Country checks are such important
factors in effecting the exchanges OF the
country that any attempt materially TO
reduce the number Will not stand: There
is one feature of this problem that may
be proftably studied with confident hopes
of its solution. That there is an expen-
diture OF time, machinery and money IN
the existing methods Of making these
collections and consequent loss 10 many
banks handling them is TACT Wen es-
tablished. BY selecting an agency for
the collection Of such checks many OF
the vexations delays in their collection
would be obvialed and the devious jour
news that some of these items take oeiore
reaching their sponsors might De CONSUL
erably shortened"
How shall the American bank ousl-
ness be made more useful. was dis
cussed by Frank Tracy OF Springfield,
Ill.
The addresses made aroused the atten-
ton Of the entire assembiage.
FINANCIAL DISJOINTEDNESS.
Mr.. Gunby Jordan Of Columbus. Ga,
discussed the question, whether the ma
ton banks would be a benefit TO the
country He answered il:
Things financially are sadly out OF
Joint" ne said. 'If slight amendments
to existing laws will help TO right the
wrong. IN heavens name let US urge
them. If we are to continue the I'M
scientific basis of bonds for note issues.
let the banks issue par on the bonds. II
the people actually need banks. let
them demand a reduction in the tax rate
on the note ssuing feature. and allow
a healthy expansion from the 81. 15S,46o
outstanding July 81, while with only IL
banks in 1872 there was Of national bank
notes 1886. 900, 900. Then. with 900 as
minimum of capital, there would be IN
ducement enough to plant a national
bank wherever one was needed, and out
side capital would greatly aid in this
work. That the needs Of the country re-
uuire small banks is ndiSputably proved
| t,y the statistics Of their organization.
Since January, 1893. 245 national banks
| have been organized. OF these, so per
cent ns0 have been 500. 900 and under.
| and of these 1913, II per cent Q4s) nave
been of the minimum capital allowed by
law, namely $4,000.
"The pessimist alone, Othello-like, Is
without an occupation. In fairness, in
| business, in wisdom, let our lawgivers
settle this currency question, and the
| south at least, will blaze its own road
to riches"
BRANCH BANKS.
Mr.. c. A. Cornwell of Buffalo spoke in
favor of the establishment OF branch
| banks. saying that the system reached
| the highest perfection in three particu-
| lar-stability, economy and usefulness.
| There was only one formidable obstacle,
| the political one. He concluded thus:
81 cannot but feel that nation which
is at heart right, which has freed the
! black slave at cost untold-will at
last turn upon its prosecutions and free
the white slave, as well-will cast off
nthe shackles from the business toiler
and give US at last commercial freedom,
| in these great states.
"My NEUTRALITY-SUSPICIOUS. men OF
| the United States. be not deceived by
prosperity, as you were in 1879, but in
! sist that the concer be cut out by legis-
ton, that sound currency laws be enact
| ed, commercial freedom established, and
no chance left open for another '93 or,
worse still, for the annihilation which
would follow another So"
Frank W. Tracy, president Of the First
National bank OF Springfield, read a pa
per on the subject, What Can be Done
to Increase the Usefulness Of the Ameri-
can Gankers' Association"
Papers followed on Currency Ship
ments by Registered Mail" by Charles
R. Hannah, president of the Iowa Bank
ers' association, and Express Money
| Orders by L. P. Hifyer, secretary Of
| the Georgia Bankers association.
Those prepared by Lawrence B. Kemp
! OF Maryland and Eugene H. Phellen OF
New York were withdrawn by heir au-
thors on account of the lateness of the
hour and ordered printed in the pro-
| ceedings.
A resolution was adopted by the con-
vention urging congress 10 promptly pro
vide for a competent. non-partisan cur
rency commission 70 the end that sound
legislation may be speedily secured.
Regre, al the death Of the late WI
liam p. S.. John of New York was ex-
! pressed in a resolution offered by W. 3.
Van Slyke.
J. c. Hendrix Of New York city was
elected president. without dissenting
vote. The sailing was not so smooth
when il came to the election OF vice
president. For this place the nominal
ing committee presented the name o.
Frank W. Tracy Of Springfield, H.
Frederick ". Hayes Of Detroit also nom
mated George II. Russell o. this city
Mr.. Russell was elected. receiving 2c5
votes 10 100 cast for NJ. Tracy.
The secretary was instructed 70 cast
! the baIlo: OF the convention FOR the state
vice presidents, and the executive coun-
| Gil members.
| The members OF the executive COM
mittee elected are: J. G. Cannon, New
York; p. ". Huntington. Ohio; r j.
| Lowry. Georgia: ]. r. Findlay. Penn
| sylvania: J. c. Sands. West Virginia.
| After f. H. PuEen OF New York hal
! presented the retiring president, r. Il
Lowry. with handsome gavel. me il
| s:allation OF officers took place and the
! convention adjourned sine die
| AGAINST sABBATH- BREAKING
Father Cleary Tells How q Law of the
Church Is Violated