The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-06-16
BANKERS IN TYBEE'S BREEzES
Continued from Eighth Page)


with pride. II is nevertheless true that
those at home can serve their country in
another capacity.
We are at the close of one epoch and at
the beginning of another, Mr.. Barrow said.
He spoke of the Monroe doctrine, and said
for seventy-five years our country settled
down in the enjoyment of domestic tran
guilty, and concerned itself only with its
own affairs. There was no time for ac-
QUESTION of new territory, no thought of
1t, and no desire for conquest. In a sin
gle night the American people have chang
ed their minds, and now have different
thoughts. ideas and ambitions for this
great nation. whose policies are now sug
gested by new conditions. If it is neces-
sary to the commerce Of the United States
10 open a branch Office in the Pacific, the
branch office will be opened. II 1t is
necessary to establish colonies to protect
her commerce, colonies will be establish
ed and If need be she will hold the Phil
ippines and annex Hawaii.
Mr.. Barrow concluded by congratulatlng
the bankers on the fact that they had
come together at so critical a period, and
extended them a most cordial welcome on
the part of the Savannah bankers.
The resopnse to the address of welcome
was made by President John A Davis,
who regretted the Unavoidable absence of
Mr.. r. T. Daniel of Griffin, who was to
have made this response. He spoke of Mr.
Daniel as one of the Improved Order of
Red Men, and said it would have been
most appropriate to have had him speak
in the old home of Tomochichl. He
thanked Messrs. Charlton and Barrow for
their pleasant expressions, and said that
much was always added to the meetings
of the convention by members of the bar
THE best response 1 can make" Presl-
dent Davis said, lis contained in the
bright expression of appreciation which
nJO n
to-day. 1t is not often in life's expert
ence that fruition exceeds anticipation
but that is always the case with those
who come to Savannah. Savanuah's bank
of hospitality has a full capital and drafts
upon it are always honored without ques-
ton as to days of grace. Once partaken
of it forever leaves a green spot in mem
ory's vase"
In his annual address, President Davis
referred to the most gratifying progress
which the association has made since its
organization in Macon seven years ago.
From the bright and pleasant side of
things, he said, he was forced, by a tender
and mournfuL recollection. He paid a
beautiful tribute to Mr.. r. f. Burdell, de-
ceased, cashier of the Chatham Bank, and
first vice president of the association.
I'VE miss his cordial hand-shake,' he
said, land sigh for the touch of van
ished hand and the sound of a voice that
is stlled."
Death brings sadness, come when it
may but doubly sad when it strikes a
Shining mark, and deprives US of a broth
er in the full flush of his manhood and
usefulness. We shall always miss his
ready loyalty and devotion to our asso-
citation, and it will not be amiss to say
that, if he had been spared, il would have
been the pleasure of this assocition to have
bestowed upon him the highest honors
within its gift
beautiful tribute was also paid to Col
J. D. Boyd of Griffin, another member of
the association, who died during the year.
In touching upon the financial question,
President Davis said:
1T would seem to be an act of superero-
cation for me at this time and under ex-
listing conditions to attempt any discussion
of the much needed reform of our curren-
cy system, and the value and necessity of
strict adherence to the gold standard.
Surely the exhaustive and unansWerable
arguments that have been presented to our
people by the ablest financial experts of
this and other countries as well as the
more convincing lessons of experience in
all leading commercial nations should suf-
fee.
1T had been hoped that these import
ant questions had been settled by the YER
DICT of our people in the last presidential
election, but 1t seems that demagogues
and politicians are determined to force
financial heresies upon us again, and it
behooves this association, as we'll as all
the patriotic agencies in this great land
of ours, to see to it that the second YER
dict of our people shall be so pronounced
and emphatic as to settled forever the
financial policy of this government in
favor of sound money"
1T had been hoped that the voice of
craftsmanship would have been silenced in
congress by the voice of patriotism, but
We are reminded by features of revenue
measures proposed in Congress that there
Is desire for the adoption of expedients
having a direct tendency to debase our
currency. thus indirectly to effect the
same result that is aimed at by the free
coinage of silver at ratio of 16 to /. One
of these expedients is to coin or treat
as coined the silver bullion in the treasury,
purchased prior to 1898 under the Sher-
man act, and another is to issue in the
Place of bonds notes not bearing interest
TO serve as currency in addition to those
already existing With all the recent and
baneful experience of our treasury depart
ment occasioned by this class of demand
paper, and the difficulty of maintaining
the gold reserve, our so-called statesmen
are willing to Disregard the lessons of the
near past and to largely augment the
trouble by assuming that the country
needs more circulating medium and that
provided the quantity is sufficient, its quail
lty is of secondary Importance
Sound financial methods are wanted he
said. The bankers have not only shown
Willingness, but have made persistent
efforts to aid In the solution of these vexed
questions, and the Georgia bankers are
now, as always, ready to do their share
of the work
Chairman J. G. Rhea, of the executive
council said he thought his report should
be eliminated from the proceedings of The
convention. He spoke of the appointment
4 Oy the executive council of three members
OF the association to look after legisla-
uon of interest to the banks, and banking
laws in the state in general. He believed
mat committee had discharged its full
duty.
On Feb. 8, there was a called meeting
OF the executive council at which it was
decided to send a circular letter to all the
banks in Georgia, asking them to become
members of the association. Arrange.
nents for the convention were also made
at that time.
Chairman G. Gunby Jordan made the
report of the special committee appointed
10 confer with the Governor and state
treasurer to the end that a law might
De secured from the legislature lookinr