The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-10-21

ents who are not in n position to look
into these things and understand them
quite so well as you. You cannot sit
down and merely protect yourselves.
You ought out of fairness and a sense
OF obligation toward those who are
making your institutions prosperous, to
give your minds to the things that will
avert dangers from their business, al
though 1t may not affect your profits,
you knowing in advance of the dan
gers
Therefore. all of these subjects should
be considered by bankers although they
are not primarily so much interested in
them as other members of the COM
munity.The other members of the COM
munity are often prejudiced upon these
subjects to their own injury and detri-
ment Now, If you comprehend the
fullness Of your obligations and trusts,
you should seek to overcome those
prejudices, even at some risk of some
unpopularity. because you are in the
position to do It; you have the obliga-
tion upon you.
HIS REMARKS NOT NEW.
I do not propose, gentlemen. to take
up any more OF your time. ] simply
wish to say that am enormously i'm
pressed with the Importance of all these
subjects and the importance of your re-
lation to the community. and therefore
| have ventured to speak of some of
these general subjects. That which l
said In regard to your deposits, and
checks, furnishing a currency is not
new. Alexander Hamilton spoke of it
in his time. and Gallatin and other
men said there was coming the great
currency of the country SO that 1t is
not at all new, but 1t is something of
which the mass of people apparently
think but little. You are in a time of
great business prosperity i'm the coun
try as a whole. with wisdom and con-
servatsm it is likely to continue a long
time. 1t is within your power to eX-
ercise n restraining influence as well
es giving aid to all this. 1t is your
part not only to encourage, but to eX-
ercise a conservative influence. 1t is
your part to use your influence, so far
as you can, to remove governmental
difficulties that grow out of our laws,
some of things founded on the neces-
stiles OF the time and others sometimes
upon passing prejudice.
All this is among our duties and
functions, as I understand them, not
alone to conduct your own individual
institutions and make money for them,
but If you come to q full appreciation
Of the whole subject, that you are to
give your minds to all of these things.
And therefore, to repeat what I started
with, / say that a group of bankers
like this Is one Of the most important
assemblages that can be gathered to-
gether in this country; and feeling that
I have felt it a high honor to be called
on to make an address to the bankers
of such a great business community as
Is this state of Pennsylvania, You have
maintained the honor of your profess
sion as a whole with wonderful fldel-
ity. You have been Of inestimable use
In developing the resources of this mar
velous commonwealth, and 7 bid you
God-speed In your good work in the
years to come. (Applause)
MR.. POWERS ADDRESS.
Following this came the address on
"Ihe Banking Department of Penn
sylvania," by Hon. Thomas !. Powers,
state commissioner of banking. Mr..
Powers said:
There was a time when the chief de-
light Of certain classes of demagogues
was to sneer at the bankers, and in
some parts of the country they stil
try to bring them into contempt and
array certain clements against them.
This feeling, / am glad to state does
rot exist to any considerable degree in
Pennsylvania, and the time is coming
when the people everywhere will con-
&C de to the bankers as a class their
Just need Of praise ana honor Cor their
sterling qualities.
No community is complete without
its banking institution. You cannot
point to a prosperous and thriving
place that does not have in its midst
a sound bank that is and has been a
help to its prosperity.
The banking department of the COM
monwealth of Pennsylvania was first
.reated by an act of the legislature or
1891. BY reason of the failure of that
body to make an appropriation or its
support, it work was seriously handi-
capped, and but little was accom-
plished during that year or the year
following in the way of examinations,
although much work was done by the
superintendent and his deputy in for
mulating blanks for reports and
schedules, receiving reports and tran
scribing these portions thereof which
were deemed best for the information
of the public and compiling the same
for the annual report. The greatest
labor deVolving upon these officials was
not only locating that of the various
corporations placed under the care Of
the department, but the careful study
of the various acts of assembly Great
ing them and thus ascertaining Just
what kind of business they could or
could not do, in order that they might
be properly classified under the var
ious headings of banks, trust COM
panies and savings institutions. Their
nomenclature was misleading, and I
here record the wish that the day may
soon come when We will have a uni
form system covering all institutions
in the state.
EXAMINERS KEPT BUSY.
In the years 1893 and 1894 the field
force, then composed of three examin-
ers were constantly engaged in max =.
ing examinations.
In February, 1895, the department
was re-organized, the numhL" Of ex-
aminers incraas sod TO ten and hnildinn