The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-26
Senator BeyeridSe's Address.


visitors were again in their places in the
assembly rooms of the Commercial Club.
Senator Beveridge was introduced, and.
holding the undivided attention of the au-
dience, delivered the address of the after
noon. The senator declared that he had
not been aware of the fact that he was 20
be called upon to speak. He was confident,
he said, that had he been Informed of the
fact. he would have taken pains to consider
more thoroughly the subject Of his address.
The senator was interrupted from time to
time with the applause that greeted his
the aH Il IN
sympathy with the expressions of the
speaker. Senator Beverage spoke, in SUBJ
Mr.. President Ladies and Gentlemen
Until yesterday afternoon l was not aware
that was to have the distinction of appear
OF our papers came to me to get the points,
or the manuscript. of my address to-day;
which the first notice 1 had that 1 was
expected TO make one.
II assure you that had I known long
enough in advance, in case L found it pos
sible at all to be with you, | should have
direct practical and immediate interest TO
you and to the people, and given to that
theme such thought and examination as
who had authority upon that subject. i am
my friends, a firm believer in the great
truth which Thomas Carlyle announced,
conditions so compel and the message which
he is to deliver is SO vital that every word
he utters will have it's fruition in a deed
Any other speaking than that is sounding
brass and a tinkling cymbel.' 1 am not a
believer in extemporaneous speaking in the
sense that extemporaneous speaking means
utterance upon a subject to which a man
has given no thought and preparation, be-
cause such extemporaneous speaking is too
often IKE extemporaneous bankng--there is
a great deaf of glitter and very little assets
And when people deal with a bank they
have right to consider the assets: and
when people listen to man they have a
right to expect his earnest and final thought.
CONVERSATION TOGETHER
But there are some subjects, my friends,
upon which. after all, it may be that an
audience ard the speaker may have a con-
versation together, to the end that a true
conclusion may be reached. 1t is possible
that I may be able to say something to you
to-day Of that nature. In my capacity in
the past. as an attorney for depositors In
banks. and as an attorney for banks, and
as as a student, in modest way, of the ques-
tion, one great thought has impressed itself
nrmly upon my mind and that is that above
everything else the banker is a trustee The
relations of trustee run through his every
He is a trustee for his stockholders He is
trustee for his depositors He is trustee
| for the public
He is a trustee for his stockholders be-
! cause, aside from these stockholders who
are directors, as matter of practical ex-
pt;T ,,,a they do not, nor have they the
time 10 go into the affairs of the capital
! which they intrust to his keeping Tt re-
| quires therefore of the banker a minuteness
or scrutiny; calmness in Judgment, a good
humor in disposition. courage in decision
which is required of no other class of men.
noSit nen the banker is trustee for his de-
pOsit ors;,,, MY friends think that in all
| our civiization there is no confidence that
| Is exhibited by mankind which compares
o. ~ 'he commence which the depositors If
Sepos eaiiAS snow; by the very fact of their
| posts. They do not examine. as a practi-
thl mater matter as is well known the reports of
the banks. They cannot go in and Examine
the books of the bank They are NOT on the
discount committee. Everything-the book
heeplng; the ioaning, the direct charge OF
control the banks. 1t is the highest exam
| pie OF that confidence upon which our whole
business civilization is based: and that con.
noence implies upon your part and demands
upon your part an equal amount of facts to
| Justify the confidence. 1t Is given too
mink. | think that. as great body of men
tions, statistics will show that, In compare
son, there are very few betrayals of the
aga trbet which the depositor-the million
| washerwoman who brings in her littls
account say there are very few instances
| in which that confidence has ever been re.
trayed. But think ii is only fair. perhaps
that the law which compels that conf
dence-but the confidence is justified with
| 49, 'hpuiu kO IuIl0eT. i nave
sometimes thought. and even had converse.
tons about ii with men I'm responsible iu
olclal and legislative positions that Il
| might be well to make the directors OF
| banks criminally liable. without any cues
| ton as to whether criminal intent was Their,
or not for failures of banks and losses Il
| depositors where those failures and thos,
| losses occur by Illegal loans or any othe
merely and purely illegal transactions IL
the bank / know that the answer to thi.
is that you could not get directors then
that you cannot afford to pay director,
| enough to justify their minute attention
but / think that those large stockhol1ar,
who are usually most deeply interested ii
the success of the bank would serve as sucl
directors. AT ali events, gentlemen 1 be
lieve that am prepared TO say to-day that
while not perhaps in favor of such a strin
gent law as that-althOugh 1 verv mlcl
lean toward It'll should be in favor OF
law which would make directors lie bl
without limit in financial way for az,
such derelction of duty and loss to stock
holders and depostors as consequence
THE HIGH TRUSTEESHIP.
"But, gentlemen. above the relations o
trustee to the stockholders, above the rela
tons Of trustee TO the depositors. Is tina
higher, that broader, that deeper. IL NOR
vague trusteeship which you owe 10 tn
] people and to society. 1 hold that there i
no such thing as individualism In humal
society i hold that outside OF the dut,
which each and every man owes 10 nj
business, Is the broader. higher and deepe
duty which he owes to his fellows LAP
! piause.l For example. lawyer, or course
IL in the law business for the purpose Q