Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-09-07
NATIONAL ASSOCIATION ADOPTS A
STRONG RESOLUTION.
NEVER IN POLITICS BEFORE
HAS ALWAYS RESISTED EFFORTS
TO INDUCE 1T TO ACT.
Comes Ont Now, However, With =,
Unanimous Declaration in Favor
of the Gold Standard
Walker Hill to BE
Next President.

CLEVELAND, o.. Sept. 6.-The Ameri-
can Bankers Association put itself on rec
ord unequivocally in favor of the gold
standard to-day by adopting a resolution,
the meaning of which nobody can mis-
take. This action, taken in connection
with the placing of Colonel Myron T.
herrick, President McKinleys close friend,
IN line for the presidency of the associa-
ton in 1901, made it quite day for the
national administration.
The adoption of the gold standard reso-
luton was not, perhaps, a surprise. The
association is sound money body from
END 10 end. Heretofore all attempts to
ihduce the association to take any action
which might be regarded as of political
character have failed, hut to-day the view
| taken was that the money question was
one which ought to be elevated above poll
tics. so, when the resolution was brought
forward, the association forgot its his
torical conservatism and voted for the
declaration enthusiastically and unani-
mously.
walker Hill, president of the American
Exchange bank. of ST. Louis, will be chos-
en- as the next president of the association.
Inc nominating committee decided at its
meeting previous to the opening of the
convention to-day to recommend his name
10 lhe convention tomorrow, when the
annual election takes place, and the rec
ommendation means an election. Mr.. Hill
mas been president of the association dur
| ing the past year.
AlVah Trowbridge, president of the North
american Trust Company, of New York
Will be recommended by the committee for
first vice president. He, too, will rndoubt-
edly be elected. Mr. Trowbridge has act
ed as chairman of the executive committee
| during the past year.
The name of Colonel Myron T. Herrick,
| president of the Society of Savings, of
| cleveland, will be presented as a member
| OF the executive committee and will be
made chairman of that body.
When the second session of the conyen-
ton was called to order to-day by Presi-
dent Russell there were fully 200 more DEL
! egates present than there were at the ses-
sion OF yesterday. Rev. Mr.. T. P. Thorpe,
pastor of the Church of the Emaculate
Conception, offered prayer, after which the
unfinished programme of yesterday was
| taken up.
| At the close of the reading of the re-.
ports E. o. Leach, of New York, vice pres
| ident and cashier of the National Union
bank, presented set of resolutions which
| indorse the gold standard, and moved their
| adoption. S'-
The question was raised whether the
resolutions could be voted upon by the as
| the executive council.
| After hot debate it was decided that
| the resolutions must be referred to the
| council. W 'A-e
Chairman Trowbridge called the council
| TO order right in the convention and in a
moment of time, the resolutions were
| recommended for presentation to the con.
Fehtion- The resolutions We're then voted
adopted. "'''
The resolutions in full follow:
| The bankers of the United States most
earnestly recommend that the congress of
the United States, at its next session, en-
act law to more firmly and uneuuiyocally
establish the gold standard in this country
by providing that the gold dollar, which.
under the existing law, is the unit of value.
shall be the standard and measure of ali
values in the United States; that ali the
| obligations of the government and ali
paper money, including circulating 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 OF an equivalent amount of
gold coin.'' -
The following resolution, offered by
| George Guckenberger. of Cincinnati, was
| unanimously adopted:
Resolved. That the practice of charging
| exchange for the handling of out-of-tow1
| items is just and proper and within the
scope of legitimate banking; therefore All
| bankers, both city and country, are en-
titled to receive the benefits of the same"