The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1899-10-24

failed in the last two years7 Not one.
Now where is your public necessity.
How many examined books have failed
in the state of Ohio, do you know? One,
so far as / know, and that was very
disastrous failure, not very large one
but a very bad one. Now 1 do not
mean to say that the general effect of
examining banks is not wholesome,
but do want to submit to this body
before they vote on this bill the fact
that it is bill involving very important
interest in this state. 1t ought not to be
rushed through without consideration.
Then, so far as the bank in which 1 am
a director Is concerned, 1 do not hesitate
to speak about 1t at all, and will say
that / do not think we need any ex-
amlner. 1t is a state bank and ] have a
\ little stock in It. / happen to be a mem
ber of the board of directors and think
we manage that bank just about as
safely as any bank can be managed.
We have our discount committee, a
cashier and an assistant cashier. The
cashier under no circumstances is al
lowed to make a loan exceeding $1,000,
unless the rate of discount is fixed by
the discount committee / mean that
the limit or line is fixed by the board
of directors. If the cashier or the as
sstant cashier have any doubt what
ever about a piece of paper it is their
duty under our bylaws to call in the
discount committee; and the board of
directors every Saturday afternoon goes
over every piece of paper in the bank
which has been discounted during the
week. Now all 1 desire to say here is
this, that 1 do not think 1t is proper at
this time to precipitately urge the pass
age of this bill. 1 do not think there
should be any undue haste about it. If
in the wisdom of this convention the
bankers of the state of Ohio, it is deem
ed wise to recommend to the Legislature
an act, the effect of which I undertake
to say many Of you do not understand,
vote for it; but 1t does seem to me we
ought to consider the thing very care
fully and give it that consideration that
a matter of this Importance requires.
(Applause.)
SULLIVAN'S RESPONSE.
Mr. Sullivan-I am certainly much
pleased that this discussion has obtain
ed from the consideration of the work
, compliment to the committee that II
prepared bill that will engage the at
/ tention of this convention as the con-
| sideration of this bill has this evening
, AS to the National banker on this COM
r mittee, want to say that I am that in
! dividual. The position was not one OF
my seeking. Until this whole subject
was brought up in the convention last
} year by gentlemen engaged in the man.
E agement of state banks, applause,
/ and think the gentleman here this
= evening who have made certain declara
5 tions-and 1 am sorry to say without
: having facts to sustain them-if they
! were present last year, or even reaC
up on the proceedings of last year
would have known that this whole sub
. ject emanated from the state bankers
( (Applause.) The appointment of thi!
e committee was demanded by the stat,
e bankers of Ohio and no National banke
D or no private banker had one word t
e say in the advocacy of this proposition
e looking toward the appointment of thi'
t committee and when the gentleman
v here on this floor used the language tina
e has been used, that this bill was pre-
e pared as a result of the connivance OF
0 the part of the National bankers al
u against state bankers, it brings up il
4 my mind a degree of very great sur
/ prise.
Y My name appears upon this report
$ but in justice to myself and to the Ma
s tional bankers of the state, 1 will say
e that 1 was not present when the com
i mittee met and considered this bill
1 which has been ordered. The commit
t tee met the week before the meeting
= of the Bankers Association, which me
:. in Cleveland, and my time was prin
= cipally occupied in making arrange
ments for the entertainment of the dis
t tinguished gentleman who attended it
4 and 1 did not have time to meet will
g the committee, and 1 only affixed m!
e name to the report after the bill haC
4 been submitted to me and l had reaC
s 1t over. / am sure, from what l know
t of the gentleman who did prepare thi
i bill that they proceeded honestly, fair
e ly and intelligently, actuated who'll!
d by desire to bring up our grand state
:, and lift the banking business of ou
= state into that position that we are en-
( titled to have and to which our grea
= commercial and industrial interests en-
= title u.s.
s AS to the reference to the Nationa
$ banks and the examinations which TAX
: place in them annually or semi-annu
g ally wish to say a word. have th
: greatest respect and indeed admiration
o for my friend on my left here, and
?, am quite sure he permitted his intens
t nature to overbalance his judgmen
t a little when he stated that Nationa
e bank examiners of the United States
o were frauds, and non-beneficial and o
n no use, (Applause,) For from the his
r tory of National banking laws, and tn,