The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-08-30
BRANCH BANKING.


Bankers Association was one by William
c. cornwell, president Of the Buffalo city
Bank. on the question whether branch
banks would or would not be beneficial to
the United States. II is TO be regretted
that man Of his position. speaking on
such a subject. should have permitted hinf-
self to use such violent language as he did
In referring 10 political conditions. lie
said in his closing rrmarks: mot more
binding. grinding. misery breeding, the
tyranny Of Russia. than this tyraRt Poll
tics. which rules our business world. NOT
moro degraded the serfs OF the broad
white plains than We Of America, bound
down with the chains OF political possibll-
iiy. Slaves to system which makes US
labor day by day with no reward--brain
and muscle wasted because OK bad lesis-
latiou. which brings to naught all our
agony of toll and EFFORTS every dollar OF
profit from our utmost exsrtion. When
will all this be changed2''
He also said that because Of our an
sound currency system. which politics win
been working four years for nothing. bust
ness concerns have made no profit. and
have been steadily using up their capital
IL Il true that bankers have not been max
ing money during the past few years. but
the depression has been very general and
10 some extent was inevitable after a
period OF extraordinary imitation. Bankers
. hpve not been entirely hlameiess In the
matter. TIE temptation TO make profit
assails bankers "a il does other men. and
It cannot be maintained that all banks
confined themselves in prosperous days to
those commercial loans which form the
most legitimate business OF a bank. They
became mortgage companies ard speeula-
tors in real estate. standing In to make
large profits If the activity in speculation
continued, but bound to suffer loss II It
abated
Nor are bankers So a class more ungeldsh
than ans other body OF commercial men.
They are not always inaneicrs. in the
broad sense OF the term, and have fire.
| quently attempted legislation which ex-
elteA the lre Of the people by lis manifest
one-saedaess. Any measure which tends
90 strengthen the security FOR deposits aud
assure the safety Of small Accommodations
must appeal 20 the mass Of the people.
: bat they are not % be blamed ~ finding
/ fault Win laws which make 81 possible 20
/ establish banks upor insufficient capital.
| and make it an easy matter % divert 20
tAe ,.s.s..,.f ,----a =, *..s-... - ,.-,s-.-
| tho funds entrusted to thelr KEEPING f. =
/ very rarely that bank ran en- conse=ya-
! tive lines ever fails, Closed doors almost
/ always conceal rash investments or ioaus
/ made In the expectation OF large profits
ter the directors,
TIE subject II branch banks Is interest
/ ms because C indicates orc means by
! which Ereate~ security can be assured de-
posijors ia trinity populated communities.
+ on thss point President CornwelI gave
some valuable Information. which may he
summarized BFaneh banking has been
/ Ser active operation throughout she world
for a. least ia} years. n some countries 70
the exclusion % almost every other kind
j Tztz s. the csse With France. Germany
/ Scotland and Canada. where the valuable
/ qualities ef TIE system have been thor
/ aaEa'y proven. The Eaak 90 France. the
/ a1iy FrgneA bank allowed 90 issue notes.
I has branches tn niuety-foGr towns and
e.tiss outside q Paris TAe Imperial Bank
&c Germany has - branches In Scotland
y where thsre are altag syber orly tsu banks
/ ia the country. they have SIS branches.