The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1899-10-24
EXAMINER FOR
Y STATE BANKS.
well Known Bankers Make
Addresses on the Question.
HENRY w. HARTER SPOKE.
AT the Recent Meeting OF the State Bank
ers' Association and Was An
swered by Local Bank
President.

- President.
At the emeeting of the Ohio State Bank
/, rs Association recently, Canton finan-
.r5ers were much in evidence. MIR. Henry
sfy. Harter addressed the convention on
toEnportant matters, and Mr.. j. j. Sui
Utyan, of the First National Bank, of
btanton, was elected president of the
8ssociation, and also took a prominent
Mart in the discussions. One matter that
Twas discussed was of great Importance.
lit is a bill providing for the examina-
Stion of all state banks, trust companies
and building associations. On the bill
llMr. Harter and Mr.. Sullivan met and
were on opposite sides. According to
the report as published in the New York
|Financier, Mr.. Harter said:
Mr. Henry w. Harter, of Canton, O.,
said Mr.. Chairman, the committee in
vokes criticism on this bill. have not
read the bill as carefully as I should
like to do before voting upon it. This is
IA matter that affects vitality large bust
pness interests in this state, and / do
eelct think, If you please, that this bill,
? or proposed bill should be adopted by
this convention without discussion, and
go to the legislature with the sanction
of this body without some debate upon
it. / have read this bill over as I say
but once. I do not know that know all
that Is in it. Yet do know that a large
part of it referring to building associa-
tions, trust companies, ETC.. would not
be competent to form judgment about.
In regard to that part of the proposed
bill which relates to savings banks, 1
think it is the best one have seen, ex-
cept for the vicious law relating to tax
alton of such banks in the state of Ohio
Yet do not know that I want to oppose
this proposed bill at this time. There
are many reasons why the peo-
pie of this state do not want
their private affairs known. You
all recognize that. If I should go
to any one of you and ask you whether
A. B, c or d had money deposited in
your bank you would very politely in
form me that it was none of my busi-
ness. You might not say it in just so
many words but that would be the
effect of it. You all know that If you
are to give such information concern
ing patrons of your bank your patrons
would soon go to some other banking
house to do their business. You all
know that a banking house to do busi-
ness must have capital just as black
smith needs an anvil to do business.
If the tax inquisitor can go to bank
and get list of the depositors or the
patrons of that bank, what would be
the effect of it? The effect would be to
drive the depositors from the state
banks into national banks. The state
creating these corporations has a right
to regulate and control them. We now
have law that the officers of the state
armed with the power of the state
can go to your bank and you have got to
show what depositors you have. You
cannot avoid that. Now you go to a
National bank on the other hand and
what occurs? Why you are politely
told to get out, you have no business
here. Now / say the tendency of this
proposed law would be to increase the
depositors in the National banks and
decrease them in the state banks, and ]
do not think that is just and fair 1t
may be said that this bill has a provi-
sion in it to prevent just that very thing
/ have not examined that very care
fully. But this l know. That it would
be very easy matter to attach to that
bill at any time an amendment, and
you all know how easy that very thing
can be done. Now say that would be
unfair. l say that state banks could
not enter into fair competition as
against National banks under that
state of affairs. Now do not want you
to say IN reply to that "Why, they have
banking department in New York and
this bill is modelled somewhat after that
and that they nave one in Pennsylva-
MIA" Why? Because in neither of
these states are there any laws provid-
ing for tax inquisitors. Now, gentle
men, I say that this is a matter that is
well worth the consideration of this
association. There is nothing to pre-
vent at any time an amendment being
made to create department of bank
ing, to create a department that l dc
not know, nor neither do you know
nor does any man here know what that
might lead to. These people are right
here on the ground and they take the
position that they ought to be able to
get at the deposits of the deposltors in
the state banks. There may be other
provisions in that bill that ought to be
looked at and considered before we vote
upon 1t. / do not think there is any ne
cessity for 1t really. What necessity
is there for 1t? Who is complaining
Who is asking for anything? Are the
people of Ohio asking it? Has there
been any expression in the state of Ohio
to make anybody apprehensive about
these things? During the past in Ohio
there has been as little money lost in
uneXamined banks as in examined
banks. Perhaps / ought to say in JUS
tification of that, that have no doubt
there is more capital employed in ex-
amined banks than in uneXamined
banks. But there is not any public ne
cessity for any rush or any hurry in