Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-23


| were expected on later trains, recess
| was taken until noon. at which hour the
| body reconvened, with quite a goodly
| number of bankers present. Prayer was
| offered by Rev. ]. Yates bowman, OF
| All Saints church, after which the roll
| was called. and the following delegates
| responded to their names.
| J.. A. Wilett. cashier First National
| Bank, Newport News; r. w. Burke, presi-
| dent National Valley Bank Of Staunton;
| c. ID. Fishburne. cashier Bank of Albe-
marie Charlottesville; John NJ. White,
(presidenD and j. NJ. Robertson (cashier),
| Peoples National Bank, Charlottesville:
| j. L. Bilisoly, cashier Bank of Ports
MOUTH ]. V. Perevia, Fidelity Bank of
Scottsville; ]. ]. Lawson, cashier Bank
of South Boston; j. ]. Seay, cashier
Petersburg Savings and Insurance Bank;
| ]. II. Toomer, cashier Merchants and
Farmers Bank of Portsmouth,; r. G.
Marshall. director Merchants and Farm
ers Bank of Portsmouth; John III. Hume,
president) and a. b. Butt (cashier, Peo-
Pies Bank of Portsmouth; n. H VIII
hams, cashier Bank Of Chase City; ID. f.
Sprinkle, banker, Chase City; +. r.
Causey. Smetz Brothers, Newport News
and Hampton; A. L. Adamson, Mechanics
and Merchants Bank OF Manchester;
Joseph Nj. Hurt. City Bank of Blackstone;
Joseph Stebbins and w. |. Jordan, Bank
Of South Boston; r. NJ. McGruder, CASH
ier Merchants and Farmers Bank OF
Woodstock; Thomas Branch, Thomas
Branch & Co.. Richmond; James SODIUM.
cashier Bank of Fincastle; j. p. Branch
(presidenD and J. +. Glenn (cashier).
Merchants National Bank of Richmond:
r. Lancaster Williams. Of John L. VIII
llams & Sons: w. Nj. HablistOn presi-
dent) and s. q. Wallace (cashieD Citi-
zens' Exchange Bank. Richmond; w. NJ.
Hin, cashier State Bank; Virginus New
ton (presidenD and II. G. Burnett Cash
ie), First National Bank. Richmond; j
w Sinton. cashier City Bank Richmond;
Thomas n. Carter (presidenD and II. A. |
williams (cashieD. Metropolitan Bank |
Richmond; j. N. Boyd presdenD, NJ. > |
Quares (vice-presidenD, and John Nor |
ton, Virginia Trust Company; Jones ". |
BOYD (presidenO and h. II. Smith cash |
ier). Planters Bank; George l.. Christian, |
president National Bank OF Virginia; w. |
l.. Warng, banker.
MR.. MENTIONS WELCOME.
When the roll had been completed Mr..
Virginius Newton was presented, and he |
delivered a chaste address Of welcome. |
lie said.
Association-I have the honor and the
pleasure, in the name of the banking
fraternity of this city. I'm the name Of
the citizens OF the metropolis of the
State, to give you hearty welcome within
our gates In the words of the wisest of
our races--of the human race
"Sirs! You are welcome TO our house.
1t must appear in other ways than
words.
Therefore, 1 scant this breathing cour-
tesy."
In numbers You are few, yet WELD an
influence i'm your communities. in the ma
TONS progress, most disprOpOrtiOnate.
You gather the tiny rivulets of ma
tons resources; the profits Of its labors
and under the guidance of conservative
judgments scatter their aggregates, to
energize industrial life promote trade
and commerce. advance civilization, and
make glad the waste-places in our heri-
tage. BY instinct and training cOnserva-
tive. your vacation commits you to the
mission Of a sound currency as the sole
condition of stable progress.
In the brief life OF your association
you have witnessed the battle of the
standards, upon which the destiny Of the
nation hung with ''bated breath" You |
have heard the discussion and elucidation
OF the principles of finance by masters
I'm the science whose sagacous and fear
less bearing redeemed us from that peril. |
and shed a ray OF honor upon our nation.
DEFECTS IN OUR SYSTEM.
You have seen a banking system born
Of the vicissitudes of war created not 10 |
sustain a currency, but to market bonds,
construct the energies OF the people with
in the Procrustean bed OF political expe-
liency. You witness 1t even now con-
hscating Sis of free investment capital
TO secure SIS OF currency. arbitrarily re-
iucing its circulation to 40 per cent. of :
the country's currency, later TO 2S per
cent. and finally to IL per cent, pro-
iucing a currency panic TO paralyze your
rade for months. Absolutely void of the
luality OF elasticity, absurd i'm its re-
iemptions. IL has created a money CEN
re In the country which is maintained
Al the expense Of the whole 1t has per-
yerted the natural laws Of trade and
commerce. under which your 500 900. 600 {
balance of trade Is redscounted. and re-
oaned 10 your foreign debtors. IL has !
become an incubus OF real distress. The ,
author and promoter OF the heresles OF
he debased currency you have 'scotched
,ut not killed" [
The dark places OF your long travail /,
ire al last lllumined by the brightness +
n a light which should !
shine by the side OF every path we 1
tread.
with such lustre-he that runs may {
read" 4
You behold the benehcent influence OF a
he Scotch and Canadian system, ample {