The times. [volume] (Richmond, Va.) 1890-1903, 1899-09-06

we know that storms must come. ana we
should feel tic responsibility of tue ives
and careoe- we carry. ln times Oh such
prosperity as this. bankers VIII be tempt
ed with many visionary schemes M Whleh
largo profits are promised. These mus
De avoided while we must not 'o' D0".
servauveiv deny aid and eucoufas .li'',
t5 the DEVELOPMENT of our most Mohd'l "'
resources. 1 have referred to the CROWNS
wealth and financial Independence oil lne
south and West ] can best give YOU
au instance uv citing statistics from my
own state of Michigan which are easiest
obtaiuable tO mo. THE year end.ns Juio
so. lsq4 in the one hundred ana el5"'s
five state banks. eighty national rH''"
and three trust companies OF NJ ..ilr.."
there was an increase in the ioll uep',i-o
of S0eW 1868. of this amount N''ih'-s.'
was in savings deposits. january i|
t.q4 there WAS "a total deposit in The banks
" Michigan of $l2ls,'.ia,''. ana ON ~, ', .3
t.- f,1q There was a. total of sliooll a'>. -
showing "a gain for the first Sis months
of This year of over Sl3Nopo. Do Is p'''
qtla fhat this nrop0rIonate increase may
obt4in throuehout the great states oi lhe
West DO YOU, wonder then that ihia
,.a4r and probably f0r the future We cam
handle our crops without financial aid
sr.-n Tho great money centres, ANA lhhi
for the past TWO months Interest ra'e7
have been actually lower chan ODD ,'n-
nal and far Western cities thau boo Ne"
York city2
COLLECTION CHARGES.
aTn the matter of collection charges,
fIa Clearing House Association ot 30"
York city has set am example Wirn DC '
f1 boz hoped other clearinghouse DO 'he
larger cities may promptly ioI"". a"'
that the members of tnis i'l"n
may not longer conduct and advertise lhe
Great American Free ENpr' and ''i-
lection Company. feae0nin'. '"'
f,, exchange and collection would r1f,itl-
ly reimburse the larger banks for cost
~ stationery and stamps. ln other coun-
-ries tbe-e exchange and commission
charges co.far towards paying ine ehllie
administration account.
81 have no theory OF currency reform I'd
propose. trust that the recommendation
of the Congres .Onal Committ.c appointed
ortbsf purpose viii declare unequitocalIy
ina favor of the gold standard. siit ana
reconcile the differences of theorists. ana
nropo-e such moderate reform m' sur l'-
MS viii commend themselves TO tho unilrd
support of this association. ana
state banker. yet desire currency
under national regulation. and it may De-
that under the policy to which "e seem
committed we shall likely have bonds
enough to secure sufficient issue of cur
rency and reserve gold enough acromu-
lated by the banks t0 meet amy probable
cau for redemption of currency. And an
association like this. with membership
of nearly four thousand. representing 1
total deposit of four and one-ha.f billions
Of money. largely the savings of "as
earners can and should not fear to use
"a conservative influence in favor of "a
monetary system best adapted to our
new conditions.
SHOULD CONSOLIDATE.
"Cous0ldatlon and combination are the
order of tho day. and iu many Instances,
ID would Doe desirable 90 consolidate banks,
whore the smaller banks separately cane
n0t use their deposits with safety to their
depostors or profit 10 the stockholders.
oC6niiuued on Second Page.