The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-24

criminals to the full extent of the law The
outcome OF the protective policy during the
association is shown in the following state
me-lts:
Il From May 1, 1895. to Aug. /. 1885,
members of the American Bankers
Association suffered by burglars
robbers and sneak thieves total
SO From Nav i 1895. to Aug. i. 1895 ''''''
banks nonmembers of the associa-
ton suffered in the same way re-
ported losses of over. .$2OOOOO
20 So far as can be ascertained there is
out one organized band of professional
criminals now operating on the banks OF
TINS country, and up 10 this time Ii mas not
attacked member of the association.
t. In the past year the only burglary
committed on member of the association
since February. 1885, occurred at Boelus,
Neb., Oct. 5. 1897 Otis Anselon and Otto
Warwick were arrested for this burglary.
and have been sentenced to three years and
six months and eight years imprisonment.
respectively
"A most significant contrast, aptly illus
trating the comparative immunity enjoyed
by the members of the American Bankers
Association from burglars and the like, is
found in the fact that early in 1895, before
the purpose and power of the new organiza-
ton were thoroughly realized and its in
fuence established, members lost heavily.
A comparison of the total reported losses
shows that
In the four months from Jan. / to
May l. 1895, members lost by bur-
glars and robbers. ACKNOWLEDGEMENT. .$23, 200
I'm the twenty-seven months from
May L. 1895. to Aug. /, 1895. members
lost by burglars and robberS.......... 1880
LOSSES DECREASING.
1.-THE above figures do not include losses
suffered by members through forgeries.
Statistics in respect to these are difficult to
obtain. The broad effect of the protective
feature is shown by the fact that in 1894,
before this association began the protective
work, the banks of the United States lost
$229'261 from burglary and forgery, and that
in the year ending August, 1898. the MEM
bers of this association lost through bur-
glary $1,4O0 and through forgeries of all
Kinds amateur and professional, less than
The report of the executive council was
read by the chairman, Mr.. Alva Fl. Trow-
bridge, of New York. After reciting the
letter from the Railroad Freight Agents
Association, suggesting better methods in
the. matter. of drafts accompanying bills of
lading, and asking for joint committee to
take action. The association agreed to the
request
Upon recommendation of the council the
association adopted a resolution asking that
government committee be created to study
the financial situation of Cuba, Porto Rico
and the Philippines, and suggest amend
ments thereof If any are deemed necessary.
Committees were authorized to inquire
into rates and forms of surety bonds, and
to suggest a standard form for warehouse
Mr.. Frank w. Tracy chairman of the
committee on uniform laws. made the re-
port of that committee, which was in part
as follows:
1.-The negotiable instrument law, which
we are endeavoring to have passed, is very
fortunate in having been tried for sixteen
years in Great Britain and all its colonies.
1t has been Endorsed by experts of law in
thirty States of the Union. Indeed. 1t has
been subject to all the criticism which the
best minds in the legal profession could
bring to bear. and yet has come out I'M
scathed. In spite of this we find in every
legislature some wise man who wishes to
offer some amendment Much opposition
has been expressed to the law because 1T
abolishes days of grace and, astonishing
strongly in the New England States than
anywhere else That long arguments should
be made against the abolishing OF such a
relic of stage coach days in a country COW
cred with railroads is a marvel indeed We
are pleased to say, however, that this OPP
position did not come from either the bank
law in all the States is one of herculean
proportions, but from the experience of the
past winter your committee believes it can
be brought to a successful issue. We worked
in five States only. The law was passed in
three and good progress made in the other
two. There was no failure in any state STATE
Maryland, New York, Colorado, Massachu-
sets and Virginia..
paper in memoriam of President William
Henry Rhawn, of Philadelphia.
EDUCATION OF THE PEOPLE.
The report of the committee on bureau of
education was presented by William c.
Cornwell, as follows:
For many years, in the United States, a
most unjust prejudice has existed against
banks, and ii is quite generally recognized
that this prejudice against capital employed
in banking does not exist against capital
employed in other lines of business. The
large insurance companies, with assets ag-
hundreds millions
are not made the target of the political
archer, as are the banks. This Is probably
due to the fact that the people have bet
ter knowledge generally of insurance and
its advantages to the people than they have
of the banking business Where there is one
man who keeps an account in commercial
bank, there are probably a thousand who
are members of the various fraternal or
CARNATIONS, and are thus interested in, and
understand the principles of insurance, and
1t is for this reason that insurance does
not meet the obstacles that banking does,
and is not attacked by demagogues. If this
of banking under similar circumstances.
THE only thing to do is to educate the
people so that they will understand that,
like the insurance business, the banking
business is decided advantage to the peo-
pie generally, and that any injury done to
banks is reflected back upon the people
themselves, in the way of curtailment of
loans, high rates of interest, general sup
preston of enterprise, and consequent loss
to all classes. When the people understand
of business, prejudice will disappear. The
existence of this prejudice has been no
fault of the banks themselves, as far as
their daily operations are concerned, which
are of the greatest possible benefit to every
class in the community.
THE fault is that the bankers have not,
heretofore taken up the task of educating
the people. The most absurd statements in
regard to the special privileges of bankers
are allowed to go unanswered ana are gen.
orally accepted 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 &C
crue to the banks through the issue of notes
based on new bonds and these statements
are believed by probably SO per cent of the
people who read them. All these willful
Misrepresentation should be met and an
swered promptly and this cannot be done
unless it is made somebody's business to
do it, There is no people in the world who
are SO ready to recognize right and justice
as the American people. 1t is folly to leave
them in ignorance any longer. to allow this
prejudice TO flourish. VIII you begin now,
at the end of this century, to right the
wrongs which have oppressed the men of
your calling for fifty years, or will you
simply weakly drop the task because it
seems so great, and fall back into the
trenches? If you do you have learned the
glorious lessons which our brave soldiers
taught us before Santiago"
After the adjournment of the session the
delegates from each State and Territory had
meetings for the purpose of choosing MEM
bers of the nominating committee.