The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-10-20

port, Pa, devolves upon me as the
first viCe-president of 4he Association,
the duty of presiding at this-its hfth
annual meeting. I assume this duty as
your servant cheerfully. but with dl'h-
dence while most sincerely toining
with you in feelings of keen regret and
SORROW that circumstances compel tle
service. The death of our hcnoied
president involves loss not only to
this association, Dut to the worl1 az
large. OF whose citiz .nship he was so
useful and honored member
In this connection we recall the fact
of the decease of another most useful
member of our body the late Thomas
=. Day, esq, vice-president and cashier
Of the Peoples National Bank Of Pitts
burg, who was calle" hence on the 18th
day of July last .dr. Day was ad-
mired and trusted by all who chJoyed
the honor of his acuu llntance, a gem
erous and upright citizen, ant dis
tingushed member OF our proscSslCn.
We mourn the loss Of these, orr asso-
ciates, and we will ever cherish ~ te,r
memory with deepest respect. As Hpur
presiding officer, suggest tina this As.
sociation, by resolutions through The
proper channels, give expression to our
feelings of regret and sorrow at oul
loss through their de ease.
Gentlemen, the year that has elapsed
since our last meeting has been ole OF
stirring activity ana vast momen- TO
the world ana mora especially TO oLr
country. The mighty ach evemerts OF
our armies and nlVies. resulting In al
ding to our territory domain equal in
extent to many of the great nations
of the earth: with added milliong Of
| population, with vas extent of natural
resources of wealth, with limitless eX-
| tent OF possibility through development
! of those resources of accreation of
! power and riches to us as a nation.
| The tremendous bearing all these have
| upon our peculiar functions and duties
has necessarily impressed us all, and
must have a tendency to make this
| meeting one of the most interesting
| and important ever held by the asso-
| citation.
| Gentlemen, it is an indisputable fact
| that the banking interests of the world
| represent in the highest degree the
status and progress Of the world in the
| direction of it's highest civilization; and
the sum of the difference between that
| civilization and primitive savagery and
unlettered barbarism may be measured
| by that representation.
Banks and bankers are not merely
dealers in coin and exchange, money
lenders and note discounters; they
| stand for all that is worthy of notice
in the commercial and industrial life of
| mankind; for it's broadest culture and
mightiest achievements. They are. in
| a large sense, factors indispensable for
| the unihcation of the race, through
their transactions bringing together
the ends of the earth, binding together
| the lives of nations, and reaching to
the uttermost bounds of civilization.
| And, gentlemen, it is not idle or vain
! CrlnYsin11c Gt IN art NN-ha W. G
affirm that the Bankers Association OF
Pennsylvania stands in no small degree
for what is embodied in these state
ments, for PENNSYLVANIA is one of the
greatest of the great States of this
great nation, the mightiest of all ma
tions on the globe. Her situation geo.
| graphically gives her commanding in
| tiuence; her vast wealth of mineral ag.
ricultural and manufacturing resources
second to none possessed by any Of hel
| sister states in value to the worlds
commerce, confirm her right to leader.
ship. And this Association, represent
ing as it does the financial interests
and much of the power these interest.
confer upon this great Commonwealth
has n right to plume itself somewhat
think to put on. if you please, some
airs of dignity and Importance, and tc
demand attention for it's declaration
and advces.
Gentlemen, we have met for delibera
tion upon and discussion of matters o.
vital Importance and interest, not only
to ourselves, but to all the people o.
the country, as custodians of theiI
wealth, as agencies for the distribution
of that wealth, and as those Withou
whose labors and fidelity commerce
would soon be chaos, and trade endless
trbulation.
Gentlemen of the Association: Al
words of congratulation.
WORDS OF CONCENTRATION.
First. | congratulate you upon tn
evidence to be noticed, of an increased
confidence on the part of the peopl
generally in banks and fiduciary agcn
CieS of approved character and stand
ing. The days of distrust and sus
picion, of the stocking behind the chin
; ney, the unused parlor stove, as de
. positories, are well-nigh ended. Th
people are learning to trust and believ
, ! in the banks. The immense increase il
, | deposits of small amounts by individ
uals, Of growth of saving institutions
| of use Of checks and bills of exchange
: | are indications that Tom Dick an
Harry" are no longer spending muc
of their time in corner of the stree
conventions, denouncing all banks a
|
, | common people," "Cormorants an
; | Shylocks;" but that common sense an
/ honest judgment have taken the plac
5 of these rantings and falsehoods, an
the banks are being recognized not onl
r as conveniences, but pillars of con
| merce and trade.
0 Second. l congratulate you upon II
+ eXorcism and laying of the spectre {
r cheap and dishonest money; of 80 cer
|
o based upon their proposed issu
Y Through much tribulations we have g
e last come in sight at least Of I'll
{ promised land" of a stable and SCUM
money standard for all the world.
4 The acceptance and adoption by we
h nigh the entirety of civilization {
= the gold standard, with its assuranC
= of stability and protection for financi;
= measures and transactions, confidenC
= for creditors and enlarged credit fC
r honest debtors, stimulating and 70.
8 | tering legitimate enterprises and IN
h dustries, as it must and will, seems
:, near by contamination, and is certain
a cause for profound qualification
I banks and bankers.
n In this connection I cannot forbea
o quoting from the speech OF the Vic,
g roy Baron Curzon, at n recent NEE
ing If the East India council held
:, Simla, a statement emphasizing II
!; declarations of the eminent financie
X Mr.. Dawkins, who introduced the Gu
y rency bill for India in parliament. +
o said in substance that "for twent
! years or more the energies and r.
sources of the imperial goVernmeI
y has been largely employed in defen
- of the country against the cons
3 quences of the decline in value of Il
- silver coinage of India, as seen in II
s creased taxation and restriction