Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-08
THE BANKERS ASSOCIATION.
w. n. Trigg on Making u. 3. Clear
inR-House of worid-w. Hfil Pres't.

w. ". Trigg ON Making u. =. clear
inR-House of worid-w. Hiil Pres't.
CLEVELAND. o.. September THE
closing session OF the American Bankers
Association Convention was held to-day.
The Possibilities OF Banking Co-Opera-
ton Under Uniform System OF Credit
Departments and Standardized Property
Statements" was the title OF an interest
ing paper read by James c. Cannon. Vice
president OF the Fourth National Bank
Of New York.
Colonel Myron T. Herrick, president Of
the Society for Savings, Of this city, was
the next speaker, his subject being: "The
Eject Of Banks on the Peoples Pro-
gress."
The next paper presented was on the
subject, What Can BE Done 10 Perfect
our Currency" and was by William G.
Cornwell, president Of the National Bank
Of Buffalo, n. Y.
How Can the United States Become
the Clearing House OF the Worl1?" was
next discussed by William r. Trigg, pres
ident Of the William X. Trigg Company,
ship builders, OF Richmond Va. Mr. Trigg
said in part:
MR.. TRIGG'S ADDRESS.
a lhnlNdE argument WIFI ms DiOuDhe
up among free-traders, is that We nave
the trading station Of the world. and
should, therefore, control the word
trade, and IL IS true that We have II. as
Is now appreciated by al. The export OF
our grain, our cotton, our metals, our
lumber. and. by far the greatest or all
our manufactures. is determining the
question Of where settlements will be
made. The flow Of gold that has hereto
fore gone 10 England Will in the main
come 10 the United states, and here the
clearing of the world will be done. We
can bring this about, or rather hasten,
for We cannot, I'm my opinion, stop il IN
no better way than by encouraging the
enterprises of our people, not necessarily
by governmental aid. but by sympathy,
which is most necessary in business. In
enlargement however we must all adj
nit, is in order when report shows that
this country has fallen from the first
place In gold production, which 1t held
for nifty years, up to and including 1896.
10 the third place. Africa passed us IN
1897. and Australia I'm 1898. This woulc
seem to prove there is progress else
where, but, after all, what care we where
the gold is dlgged if its final lodgment is
in our own Golfers? The day not yet
passed. but passing is at hand when the
American eagle shall be as well known
az the English sovereign, and then the
pound shall give first place 10 the dollar,
and then we shall clear for the world.
at should be the endeavor of each
member of this association TO the full eX-
tent Of his effort and influence to see
that all foreign business sales, pur-
Chases, and exchanges should be MADE In
dollars and not i'm pounds, and thus Ia
miliarize the world with our standard and
measures for il Is most important tnat
our weights and quantities should be IA
miliarized. When We quote We should
use our methods. and when We buy We
..N
stated in the same way, and the desire
TO sell will educate quickly; When inc
world knows our methods OF computing
and recognizes us at the same time 10 De,
as we will be. the largest exporter ana
importer, our wish for the Clearinghouse
will be realized.
SOUTHERN NEEDS.
eve need in the SOUTH a Just currency
law. as they do in the West. ask no
law that disregards the first or all mer-
camille requiTcments-the golo standard
the sine qua non OF lntethduohal eA-
changes. the stability of home ahalrs-
but IL must however. be a law that re-
stores the use of credit Out l fear from
appearances and information. or rather
ncn-information, it will be long before We
get to- Secure this legislation 10 Is
build an isthn.ian canal, ard the corh-I-,
stone of the worlds clearinghouse Will
be laid and we will locate II south Of the
Mason and Dixon line, II you OF the
Weather hut not more resoul Cs4ui So,
tons do not have a care. ana tne SC"tl
deserves aid, for she is helping herseif, as
witness her growth, and ] VIII not name
the difficulties she has overcome anu -
overcoming See what she mas done III
the last ten years.
GIVE us the laws we want, anu pe-
fore the closing OF the first decade cf me
Gaming century. when our population Will
have reached 100000, there VIII o.
none 10 make US afraid commercially III
all this world, as there Is none We l.at
IT, arms to-day. and then VIII not tno
cieariug-house be ours, for how can IL
H. halne - The day Of settlement Is COM
Ing. when Vienna asks Paris for eXchailse
t. nav her debt TO US, ana mas tha'
D. lis. too, is indebted TO US. and then ap,
plies to Berlin and 81. Petei spu' a.
I'll H. great continental capitals, AWAY
reoetving the same answer, and, nnally,
TOO when il comes from LONDON, anu
eli nave TO ship MS gold. me sceptle VIII
have passed irto our hands and the clear
ing-house be ours
NEW OFFICERS.
The addresses having been concludeu'
the election Of officers for the ensuing
wear was taken up, and resulted as io1-
lows:
Vice-President, Alvah IroWOIluse' VI
New York city: Members OF Executive
CornciI-NIvron r. Herrick, Of Cleveland
stuart @. Nelson, OF New York; ). ID.
Powers of Kentucky; Daniel Ammen, OF
MARYLAND. 4. Z. stevens, of Nebraska
q n Lindsay. Of Virginia; George f.
ord cashier of the Northern Trust Com
many. Chicago; Caldwell Hardy, presiiGn'
Of The Norfolk National Bank, norfolk
Vail w. Whiting president OF the REQ
pies Bank. Mobile, Ala; J. II. lAgerWol-
len. president Of the CLINTON S"'i"s'
Bank, Clinton. la.
one vice-president from each state was
also elected.