The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-11-22
Presidents Address.


ing of the presidents annual address'
which was In full follows:
"Fellow-members of the Bankers As
ISOLATION of Indiana-We are met for the
fourth time in annual convention Tor the
purpose of considering the progress anu
welfare of our organization, ana 10 CON
slider and discuss ways to promote COOP
Grafton to our mutual financial develop
ment and interest, not only In the STATE
of Indiana, but in the whole country as
well: and while we are not among the very
largest organizations in the country, we
certainly can and should be among the
most active and energetic We are To-Day
on the threshold, of a new century ana III
the midst of the greatest prosperity that
this or any other country has ever seen
The past year has been one or encourage
ment in all branches of business. Inc 1arm,
err the merchant, the manufacturer ano
the banker have much reason 10 leei
thankful for the successful business pros
perity attending their efforts. and we can
certainly all join heartily in observing with
cheerful alacrity the proclamation of the
President and the Governor of our beloved
commonwealth
1T is a happy condition in which TO END
the most progressive century in the world
history and may not hope Tor even
greater achievements, not only in the bust
ness world, but in the conditions and I'M
provement among all classes OF people,
than in the century about to pass into his
tory. A few weeks ago had We inquired
into the cause of this marvellous degree OF
encouragement for business enterprise.
there might have been some diversity OF
opinion as TO their causes, but as our next
election is four years in the future feel
that l can safely say, without woundlnS
the feelings of any one, that they are
largely due to a stronger feeling of Sc
curity in the business world, arising from
wise legislation for the establishment OF a
single well-defined standard OF value recog-
nized by all the leading nations of the
world. Time has shown that this legisla-
ton has been of even more benefit TO the
borrower than TO the lender, and in that
way has benefited the great mass OF the
people.
Capital and labor can now go hand in
hand with confidence, into new ventures.
giving increased employment to labor at
better wages, moving the wheels of COM
merce with an increased force through all
the avenues of business industry. The
banking interest has certainly done it's
share in bringing about this change for
the better. We have been criticised for ia
voring just and stable money standards.
Some claim we were merely working in a
selfish way. But time, in this case, as In
most others, has demonstrated that what
IS good for the banker is good for his Gus
toners as well. Banking cannot prosper IL
the country does not prosper; so the bank
er should desire and labor for the pros
perity of all the people. But few years
ago we were seeking loans ABROAD, not
only for the government, but also for very
many of our larger enterprises, while to-
day a majority of the leading nations are
seeking our surplus capital, and they have
been accommodated to very considerable
extent We need not be surprised at our
ability to supply their needs when we
take into consideration the fact that dur
ing the month of October alone the balance
of trade in our favor amounted to over
S92 600 600. Since our last meeting legisla-
| ton has been enacted that has placed this
country at the forefront among the finan-
| cial systems of the world, and, as 1ndianf-
ans NAV we not feel a pardonable pride
| in the very prominent part taken by citi-
zens of our State in bringing about this
legislation? Our financial system is among
| the wisest, If not the very best in the
| world. So that We are fast becoming the
| clearing house of the world. This Is as 1t
| should be. as we are the most resourceful
| country We occupy the best geograp hical
| position; we are the richest people, and
| not only the richest but morally, mentally
| and religiously we have outstripped all
the other nations. We can reach all coun-
| tries in less time than any other of the
| powerful nations. We are in close COM
| mercial touch with a vast amount of hui
man beings who use our products. which
| are produced at less cost than any other
| people are capable of producing them; and
our ability to produce is increasing with
rapid strides, in fact, even beyond Our
most optimistic expectations. The gold OF
| the world. instead of flowing to England
| France and Germany, as ii once did, is
coming our way, and to-day our gold re-
serve has accumulated to such an extent
| that like the farmer whose crops have
been abundant, we are compelled to in
crease our storage capacity. The rapid
growth of over 500. 000 coo per year in the
| savings deposits of the country for the last
| five years shows that the wage-earner has
1 learned TO husband his earnings, and that
| there is a very healthy increase in the
| number of people who have something laid
| aside for some kind of profitable invest
| ment, or for their support should misfor-
tune overtake them. We should lend every
| encouragem to careful saving, prudent
/ dealing and wise provision for the future
young person who has acquired the habit
| of careful saving and frugal living is sure
| to become a valuable member of any com
munity. The prudent handling OF money
so that il may be of use to it's owner and
! the business interest of the community is
| the proper business OF the banker. The
| proper getting of money is virtue. The
| saving and properly using it is no less
| virtue. The boarding OF il is vice thai
| cannot be condemned too severely. W,
| should so seek 10 employ our means. no
| merely for our own selfish qualification
| but for the benefit of the community II
| which we live as well.
STOCK RAISING.
stock raising was never so profitable IN
| our country's history and the capital fol
all legitimate enterprises could never bs
obtained so cheaply. And yet, at the same
! time. the financial institutions OF the coun
| try were never on so sound or satisfactory
| basis The volume of business i'm oul
state has made rapid strides during tn,
past year. Our bank deposits have In