The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-26

Delegates.
DENVER, Col. Aug 25.-The clos
Ing session Of the twenty fourth annual
convention Of the American Bankers
association opened with full attend
ance, the election of officers being on
the programme.
After prayer by Rev. Father CARR
gan, of st. Patriclk's church, William
L. Royal, Of Richmond, Va, read a
paper on THE Need of Banking Facili-
Ties In Rural Districts" He said in
part:
mo The cla n 3, q. Of the day 4. for more
To get more money" more than 6, 0o0. 600 Of
voters declared in 'sS for free silver
FEC people in the cities have plenty Of money
because they use scarcely any. They do ali
tlielr business with checks. and need enough
to go to market and pay street car fare
20 ranks Tor the people to check Every
one knows this to be fact. Why is it? Be-
cause the tax of 10 per cent on the issue of
impracticable. The national banks are found
ed on national bonds, Of which the farmers
nave nave none, and they are anti-rural also in
actual cash for their affairs and yet they
have none. Why is this? 1t is because all
81 o. our h money Is good at it's face in every part
Intrinsic value; silver because the govern
ment practically gives gold for it, and green
packs and national bank notes, because the
bears its endorsement. This being so all of
| 1t goes to the commercial centers and leaves
the country people destitute.
Ihere is but one possible remedy-a bank
| ing system that will permit each locality to
Dank upon such resources as it has with
banks managed by local directors who are
ACQUAINTED with the people of the neighbour
hood that Notwithstanding accommodated
know the prejudice against state banks will
never permit the re-establishment OF them,
and 1 do not argue for them. But all their
! advantages can be secured without resort
to them. Permit national banks to issue az
| many notes as their directors think proper
ana upon the security Of the assets of the
DanK, only subject to as rigid inspection by
6he government as can be asked, and the
Gordian knot will be cut
OPPOSITION IDEAS.
w. s. Wood, Of the National Bank Of
Commerce, of Kansas City, Mo-, con-
demned the ideas advanced in Mr..
RoyalPs address from first to last. He
declared that the West had seen
enough Of currency issues by local
banks. The banking business, he as
serted, was highly developed all over
the country. In the East large COM
merce had led to the establishment Of
banks of large capital, while in the
West small commerce had been salts
fed with smaller banks. In the West
banks were too plentiful; competition
mad been so excessive that the banking
business is not profitable, and conse-
quently, in many cases, not safe. He
advocated the branch bank system as
the remedy for the trouble Large
banks should absorb little country
banks, then a plethora Of money could
not exist in one locality, while an I'M
satisfied demand existed in another.
Mr.. Ronebrale, Of Kansas, disagreed
with MIR. Royals assertion that the
country districts lack banking facili-
ties, especially in the West. He quot
ed figures to show the amount of mon
ey IN the banks Of the country in Kan
sas.
John P. Branch, president of the
Merchants National bank, Of Rich
mond, Va, disagreed with all sugges-
tons. He favored permitting country
banks to issue currency on the same
terms as city banks.
George NJ. Reynolds. cashier of the
Continental National bank of Chicago,
followed in paper on Uniform Laws
for Holidays as Well as Days Of
Grace
John w. FaXon, assistant cashier Of
the First National bank, of Chattanoo-
ga, Tenn, followed in a paper on
Banking as 1t Relates to Industrial
Developments. w. S. Withen, of At
lanta, followed in an address on "The
Country Banker"
OFFICERS ELECTED.
The nominating committee then
made it's report, which was adopted.
The officers elected are as follows:
| President George H. Russell, president
savings bank, Detroit. Mich.
First vice president, Walker Hill, presi-
dent American Exchange bank, St. Louis.
State vice presidents: Alabama, ]. w.
Whiting; Arizona. H B. Tenney; Arkansas,
J. G. Flacher; California. G. F. Howes; Colo
RADIO, ]. A. Hayes; Connecticut, G. A. Lewis
G. H. B. White; Florida, John 7. DisInute;
Georgia. L. P. Hilyar; Idaho, H. N. Coffin ;
Illinois, G. p Boulton; Indiana, A. G. Lup-
tory, W. A. Ware: Kansas, Calvin Hood;
Kentucky. Fayette Hewitt; Louisiana. G. w
Bolton Maine; A: G. Rogers; MARYLAND J.
! ley: Michigan, Peter White; Minnesota. G.
e. Thorne; Mississippi. G. D. Abe as Missouri,
W. F. Thayer: New Jersey, Nathan Haines;
New Mexico, w. S. Strickler; New York. w.
Il: Bainey; North Carolina, John NJ. Miller
c. E. Neils; Oklahoma. ]. s. Wheeler: Ore
gon. c. H. Canfeld Pennsylvania, William
aastt Rhode b Island H. J. Wells South
Mckay; Tennessee, F. O. Watts; Texas T. ].
Grace; Utah, L. s. Hills; Vermont, W.
ingto I J. I. NcRichards: West Virginia, ".
/ NJ Jackson; Wisconsin, w. X. Coffin; Wy
! oming G. H. Gable; Hawaii, s. NJ. Damon.
Members of the executive council for three
years. Charles Hannah, Council Bluffs,
To-; Homer W. Mccoy, Peoria, H.; s. R.
Shoemaker, Huntington. Pa; R. G. McCurdy
Youngstown, O.. A. P. Woodbridge, Austin,
Tex; Breckenridge Jones, St. Louis, Mo-. J..
G. Mitchell, Denver, Col; c. Brown, Raleigh.
Y. C.; H. L. Burge, Boston. Mass; Bradford
Rhodes, New York.
The officers elected were then duly
installed. The retiring president, Mr.
Joseph G. Hendrix, was presented with
a silver punch bowl by the members Of
the associa ton.
The convention adjourned sine die.