The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-08-24


lean proportions, bat from the eX-
perience of the past winter your com
mlttee believes it can be brought to &
successful issue. We worked in five
states only. The law was passed ir
three and good progress will be made
in the other two. There was no failure
| in any state. The law is now in force
in Connecticut, Maryland, New York
Colorado, Massachusetts and Virginia
Mr.. NJ NJ, White of Cincinnati read
! a paper in memoriam Of eX-PreSident
William Rhaun, of Philadelphia
EDUCATING THE PEOPLE.
The report of the committee or
bureau OF education was presented by
William c. CornweIl.
For many years ~ the United
States most unjust prejudice has ex-
listed against banks and it is quite
| generally recognized that this prejudice
against capital employed in banking
does not exist against capital en-
pioyed in other lines of business.
The large insurance companies, with
assets aggregating hundreds of mil
! lions of dollars are not made the target
of the political archer, as are the banks.
This is probably due to the fact that
the people have better knowledge,
generally, of insurance and its adj
vanaages to the people than they have
OF the banking business. Where there
! is one man who keeps an account in a
commercial bank there are probably a
! thousand who are members OF the
various fraternal orders, and are thus
! interested in and understand the princi-
! pies Of insurance, and it is Tor this
/ reason that insurance does not meet
the obstacles that banking does and is
not attacked by demaSogues. If this
is true of insurance it would also be
stances.
THE only thing to do is to educate
the people so that they will under
stand. that, like the insurance business.
the banking business is a decided ad-
vantage to the people generally, and
that any injury done to banks is re-
Elected back upon the people them
selves in the way of curtailment Of
cams, high rates of interest. general
suppression of enterprise and conse-
quent Joss Of all classes. When the
people understand these things as they
understand other lines of business,
prejudice viii disappear. The exist
ance of these prejudices has been no
.auit of the banks themselves, as far
is their daily operations are concerned,
which are OF the greatest possible
benefit to every class in the COM
nunity.
1.-The fault has been that the bankers
have not heretofore taken up the task
Of educating the people. The most alb
Surd statements in regard to the spe-
.ial privileges of bankers are allowed
20 go unanswered and are generally ac-
copied by the people as true. Ever
since the late bond issue the papers
which favor government paper money
and free silver have been full of the
widest nonsense as to the enormous
profits that would accrue to the banks
through the issue Of notes based on the
lew bonds. and these statements are
believed by probably SO per cent of
The people who read them. All these
Villful Misrepresentation should be
met and answered promptly, and this
cannot, be done unless it is made some
5ody's business to do it. There is no
people in the world who are so ready
o recognize right and justice as the
American people. 1t is folly to leave
them in ignorance and any longer to
allow this prejudice to flourish.
Gentlemen, you have before you to-
day a momentous question. Will you
begin now at the end of this century
20 right the wrongs which have OPP
pressed the men of our calling for so
years, or will you supinely, weakly,
drop this task because it seems so
great, and fall back into the trenches.
II you do, you have not learned the
glorious lessons which our brave SOL
diers taught US before Santiago
Resolutions We're adopted expressing
the regrets of the association upon the
death of Thomas Ridgeway of Shaw
neetown. Pa.
After the adjournment of the session
the delegates from each state and ter
ritory held meetings for the purpose of
choosing members of the nominating
committee.
h.
greater number of the delegates and
visitors in sightseeing, though there
was some caucusing by advocates of
various candidates for office and of the
cities inviting the next years gather
ing Of the association. The invitations
thus far received are from Cleveland
and Milwaukee. The advocates of the
former appear very confident of sue
cess.
There are several candidates for each
of the minor offices, but it is generally
conceded that the presidency will go
to George H. Russell president of the
State Savings bank, Detroit, Mich, at
present first vice president of the asso-
citation.
From o'clock p. m. until midnight
the delegates and visitors were enter
tanned at a reception by the Denver
Clearing House association at the
Brown Palace hotel.
The delegations from % states, rep
resenting their respective state associa-
tons. met tonight and nominated five
for the executive council Of
the American Bankers association.
These candidates are TO be voted on
by the convention proper. Eleven
names were presented to the meeting,
and the five receiving the highest num-
Der of votes were declared the nomi-
nees. The. following are the nominees:
Charles r. Hanna, Council Bluffs, Ia;
H. w Mccoy, Peoria, H.; S. R. Shoe
maker, Huntington, Pa; Robert Nc
Curdy, Youngstown, o.; A. P. Wool |