The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-26
A Resolution Asking Congress for
LEGISLATION tn Make Nations Cred
it the Best in the World.
SENATOR BEVERlDGE TALKS
HIS REMARKS ARE THROUGHOUT
GREETED WITH APPLAUSE.
Reports Of the Vice Presidents lnui-
cate n Condition of Unusual Pros
perity-The Banquet.

The assembly rooms of the Commercial
Club were crowded yesterday morning ana
afternoon with members OF the lnulana
Bankers Association, which is holding It's
third annual convention in this city. Be-
sides the bankers there were many leading
financiers from the Middle States, who were
present for the purpose of listening 10 the
reports on the general conditions prevail
ing in the State and for the purpose OF
noting the discussion of the treasures pro-
posed to secure a uniform rate Of assess
ment throughout the State. When the
convention was formally called to order
yesterday morning by the president of the
association c. T. Lindsey, over 100 visiting
bankers had registered.
An invocation by the Rev. ]. Cumming
Smith was followed with address of well
come by Mayor Taggart. Mr.. Lindsey. the
president, in his opening address outlined
the growth of the association from the time
of its inception to the present day. He
stated that there were now nearly 200 of the
prominent bankers Of the State enrolled as
members Of the association and that about
30 per cent. of the banks of the State were
represented. He gave 1t as his opinion that
the good resulting to the members who
were already enrolled would in time be-
come so obvious that by the next annual
convention there would be increased rep
resentation and that fully so per cent. Of
the banking establishments would have
delegates present.
This growth, he said, was In line with the
object of the association, which was not
for profit or gain, but for the purpose OF
education and advancement. The bankers
were uniformly benefited by such an or
ganization. Views were exchanged and
questions of vital interest discussed. The
bankers were not only benefited. he de-
clared but were oftentimes protected from
material harm or loss from having gained
a wider and broader view of general bank
ing affairs.
SET OF RESOLUTIONS.
At the close of the presidents address and
the reading Of the secretary's report George
b. Caldwell presented a resolution in which
it was desired that Congress should be
urged to take such legislative action at its
coming session as would tend to unity and
fortify the currency of the United States
and make the credit of the country the best
in the world for all time to come. 1t was
further resolved that some action should
be taken by Congress as a measure for the
relief of all banks organized under the
federal statutes by:
81. Reducing the tax on circulation at
least one-half.
''2 BY permitting the issue of circulating
notes to the par value of the. United
States bonds deposited for circulation.
30 BY permitting the organization OF
national banks with a capital of $4,000 in
towns having LOCO people or less.
"a. By granting TO national banks, ex-
cepting in reserve or central reserve cities,
permission to invest 90 per cent of their
capital stock and surplus in first mort
cages on real estate, that may run not
longer than five years"
The ruling of the committee on internal
revenue in exempting the express companies
from the payment of license fee was also
arraigned and declared TO be unjust and II
was urged that the association take some
action looking to a reversal of the ruling
The resolutions as a whole were acted upor
favorably and 1t was decided that copies
should be sent TO the sensfors and con
greSSmen of the State.
The Missouri Bankers Association, an or.
ganization with similar purpose, had for
warded a set of resolutions which were
read and also favorably received The Mis-
souri, bankers have come to the conclusion
they claim, that the commerce OF the coun
try largely depends upon the consular sys
tenn and that the present system Is detri
mental to the interests of the commercial
Industries and especially to the banking bus
mess of the United States. As a remedy the
bankers urge that the consular system bt
placed upon a permanent basis and thai
school or academy be established for the
purpose of training whomsoever may desire
to enter the service.
The association then passed a resolution
" hich had come up with the recommends
ton of the executive committee. 1t was Il
the effect that the Indiana Bankers Asso
citation should take steps to arrange Will
| the United States trea surer for the free de
| livery of one, two and five-dollar silver Ger
| tificates under the same system that sive
money is delivered by the department.
The reports of the secretary. s. A Nor
| rison. and of the treasurer, f. l.. Mckee
| both showed that the association was on
sound footing and steadily growing Th
president then appointed the committees a
| follows:
On nomination. +. Fl. Nichols. Rockville
| f L. Elliott, Middletown; G. 3. Caldwell
| Indianapolis: G. II. Church. Muncie, AM
| W. II. Gardner. Valparaiso.
| On necrology-George w. Applegate, Cory
don; Harding Rhodes. Muncie, and o. M
| Lockard. Indianapolis.
| On resoutions-J. o. Perrin, Lafayette
w. G. Irwin. Columbus. and W. H. O'Brien
Lawrenceburg.