The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-09-06
American Bankers Association
Passes Resolutions
Demanding Redemption of All
Currency In Gold.
BANK NOTES
Are Not Excepted Want the
Greenbacks Retired.
Walker Hill, of st. Louis, to
Be Next President.


president of the Exchange bank of st.
Louis will be chosen as the next pres
1dent of the American Bankers asso-
citation. Tne nominating committee de-
cided at its meeting previous to the
opening OF the convention today TO rec
ommend his name to the convention
tomorrow when the annual election
takes place, and the recommendation
win mean an election. Mr. Hill has
been president of the association dur
ing the past year.
Alvah Trowbridge, president of the
North American Trust company of
New York, will be recommended by the
committee for first vice president. He,
too, will undoubtedly be elected. Mr..
Trowbridge has acted as chairman of
the executive committee during the
past year.
The name of Colonel Myron T. Her
rick, president of the Society of Saw
ings of Cleveland will be presented as
member of the executive committee
and it is understood on the highest
} authority that he will be made chair
, man of that body.
When the second session of the con-
vention was called to order today by
President Russell, there were fully 200
more delegates present than there were
at the session of yesterday. Rev. T.
P. Thorpe, pastor of the Church of
Immaculate Conception offered prayer
after which the programme of yester-
day was taken up. The report of the
committee on education was presented
by Chairman William G. Cornwall of
Buffalo.
Gen. Whiting of Alabama, introduced
resolution which was passed, recon-
mend1ng that the committee on educa-
tion be continued and that it be in
structed to present to the executive
council a plan for the organization of
such an institute as that in London, de-
scribed by Mr. Cornwall.
The report of the committee on cred
it's was then presented.
The committee on credits appointed
n En fT7rr -
as follows:
First-That a committee on credits
be made one of the standing commit
tees of the association.
Second-That the association estab-
lish in the city of New York an agency
to be known as the bureau of bank
credits whose duty shall be to collect
information in regard to the standing
of all parties who either as makers or
endorsers sell their paper on the mar
ket, and to perform such other duties
as the association may from time to
time prescribe.
In the absence of Chairman A G. An
derson, of the committee on fidelity in
surance, Mr.. Caldwell Hardy presented
the report of that committee.
The convention by a rising vote de-
clded to continue the fidelity insurance
The report of the committee on ware
house receipts and bills of Iading was
next presented by Maurice NJ. White,
of Cincinnati
At the close of the reading of the re-
ports E. o. Leach. of New York, vice
president of the National Union bank
presented set of resolutions which
endorse the gold standard Mr.. Leach
said that the resolution would stay the
hands of the members of congress-
Mr. Leach moved the adoption of the
resolutions.
The question was raised whether the
resolutions could be. voted upon by the
assembly at once without referring
them to the executive council. After a
hot debate it was decided that the res
olutions must be referred to the coun-
ell.
Chairman Trowbridge called the
council to order right in the convention
and in moment of time it was recon-
mended for presentation to the conven-
tion. The resolutions were then voted
upon by the assembly and adopted. The
resolutions in full follow:
The bankers of the United States
most earnestly recommend that the
congress of the United States at its
next session enact a law to more uni
formly establish the gold standard in
this country by providing that the gold
dollar, which under the existing law,
is the unit of value, shall be the stand
ard and measure of all values in the
United States so that all the obliga-
tIOns of the government and all the pa
per money, including circulating notes
of national banks shall be redeemed in
gold coin and that the legal tender
notes of the United States be paid into
the treasury shall not be reissued ex-
cept upon the deposit of an equivalent
amount of gold coin