The record-union., 1899-09-08
The Convention Of the American
Association Ended.
Walker Hill of St. Louis Chosen to Serve
as President for Ensuing Term.
Some Interesting Papers Read at
the Concluding Session - Ex-
President Russell Presented
With a Loving Cup by the Mem
bers of the Executive Council.

CLEVELAND. Sept. 1.-THE closing
session of the American Bankers Asso-
citation Convention was held this morn
ing.
The possibilities of banking cooper
alton under a uniform system of credit
departments and standardized property
statement was the title of an inter-
esting paper read by James c. Cannon,
Vice President of the Fourth National
Bank of New York
The resolutions offered by Mr.. Can
non in regard to the credit information
bureau were adopted unanimously.
Colonel Myron T. Herrick, President
of the Society for Savings, this city,
was the next speaker, his subject being
THE effect of banks on the peoples
progress
Mr.. Herrick said, in part: "Three
main things need to be done to per-
feet our currency: First to establish
the gold standard by law; second, to
cancel or impound the greenbacks;
third, to retire bond secured bank notes
and substitute properly safeguarded
bank notes against assets. The voters
have not yet been educated up to the
third requirement. They have as to
the first two. That is what the victory
at the polls in 1896 meant. If these
tive provisions remained law the Re-
publican sound money pledges will
have been redeemed. The President
himself has said that this is the COM
der which they hold their present char
ter from the people
Congress for the first time since
the platform of the ST. Louis Conven-
tion is Republican in both branches
with a good working majority. That
majority has no decent reason for de-
lay in carrying out it's pledges. 1t has
the power, and if it fails it means that
Republican promises are not to be
trusted. 1t means that the party will
receive the condemnation of the rank
and file who fought so hard to win in
1896, and it means grave peril for Re-
publicanism in 1902
The next paper presented was on the
subject, What can be done to perfect
our currency?" by William c. Corn
well, President of the City National
Bank of Buffalo, N. Y.
How can the United States become
the clearinghouse of the world?" was
next discussed by William r. Trigg,
President of the William r. Trigg Com
pany of Richmond. Va
Mr.. Trigg was followed by General
Alfred G. Baines Of New York, who
discussed the same subject at length.
The addresses having been completed
the election Of officers for the ensuing
year was taken up, and resulted as
follows: President, Walker Hill of st
Louis; Vice President, Alva Trowbridge
of New York City; members of the Ex-
ecutive Committee-Myron T. Herrick.
President of the Society for Savings,
Cleveland; Stuart G.. Nelson of New
York, James Powers of Kentucky, Dan
iel Annon of Maryland, T. E. Stevens
of Nebraska, G. 7. Lindsay of Vlr-
ginia, George F. Orde, Cashier of the
Northern Trust Company Chicago;
Caldwell Hardy, President of the Nor
folk National Bank, Norfolk, Va; j.
H. Ingerwollen, President of the Clin-
ton Savings Bank, Clinton, Ia.
One Vice President from each State
was also elected.
At the conclusion of the election.
President Russell was presented with
a beautiful loving cup by the members
of the Executive Council, for which
he returned thanks in a brief speech.
After the installation of officers and
the passage of resolutions expressing
the appreciation of the convention for
the courteous treatment extended to
the visiting delegates by the people OF
Cleveland, the convention was declared
adjourned sine die.