The record-union., 1899-09-07
Yesterdays Proceedings of AmeTi-
can Bankers Association.
Wa Iker Hill of St. Louis Selected for the
Next President Of the Organization.
A Resolution Adopted Recommends
ing That Congress Enact a Law
at It's Next Session to More For
chilly Establish the Gold Stand
ard in This Country.

CLEVELAND (O), Sept. 6.-Walker
Hill, President of the American Ex-
change Bank of st. Louis. will be
chosen as the next President of the
American Bankers Association. The
| Nominating Committee decided at its
meeting previous to the opening of the
| convention to-day to recommend his
name to the convention when the an
nual election takes place, and this
means election.
| Alvah Trowbridge, President of the
| North American Trust ompany of
New York, will be recommended by the
| committee for First Vice President. He
/ has acted as Chairman of the Execu-
| tive Committee during the past Year
The name of Colonel Myron T. Her
rick, President of the Society of Saw
ings of Cleveland, will be presented as
a member of the Executive Commit
tee, and it is understood on the highest
authority that he Will be made Chair
| man.
| When the second session Of that body
was called to order to-day by President
Russell there were fully 20J more dele
gates present than there were at the
session of yesterday.
| The report of the Committee ON Edu-
cation was presented by Chairman
| William C. Cornwall of Buffalo.
| General Whiting of Alabama intro
duced a resolution, which was passed,
| recommending that the Committee on
| Education be continued, and that it he
| instructed to present to the executive
council plan for the organization of
sucn an institute as that in London
described by Mr.. Cornwell.
Robert McCurdy, Chairman of the
| Committee on Credentials, presented
his report.
In the absence of Chairman Ander-
son of the Committee on Fidelity In
surance Vice Chairman Hardy pre-
sented the report of that committee.
BY rising vote it was decided to
continue the Fidelity Insurance Com
mittee.
The report of the Committee on
!sWareheslse Receipts and Bills of Lad
| ing was next presented by Maurice M.
White of Cincinnati.
| At the close of the reading of the
reports E. o. Leach of New York, Vice
President and Cashier of the National
! Union Bank, presented a resolution,
which indorsed the gold standard. Mr..
Leach said that the resolution would
| stay the hands of the members of Con-
gress.
Mr. Leach moved the adoption of the
resolution.
The question was raised whether the
resolution could be voted upon by the
assembly at once, without referring 1T
| to the Executive Council.
i
that the resolution must be referred
to the council.
/ Chairman Trowbridge called the
council to order right in the convention.
and in a moment a report was recon-
mended for presentation to the con-
| vention.
! The resolution was then voted upon
| by the assembly and unanimously
adopted. The resolution in full fol-
! lows:
'"The bankers of the United States
most earnestly recommend that the
| Congress of the United States at it's
next session enact a law to more forci-
! bly, and unequivocally establish the
! gold standard in this country by pro-
viding that the gold dollar, which un-
! der the existing law is the unit OF
value, shall be the standarJ and meas
ure Of all values in the United States;
that all obligations of the Government
and all paper money, including cir
| culating notes of national banks. shall
be redeemed in gold coin, and that the
| legal tender notes of the United States,
when paid into the treasury, shall not
be reissued except upon the deposit or
an equivalent amount of gold coin"