The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-02-07
BANKERS AT A BANQUET.
Senator BeveridSe Spoke on "The
Brotherhood of BuSiness."


brotherhood of Business"
New York, Feb. 6.-Nlen of prominence
in banking and monetary circles to the
number of nearly 400, met tonight at me
annual banquet of Group Eight of the
New York State Bankers Association
held at the WaldOrf-Astoria Gov. Roose-
Welt, eX-Vice President Morton, ]. Pier
pont Morgan, Charles Emory Smith. Post
master General, and United States Sena,
tor Albert J. Beveridge were among the
guests.
The toast. THE President of the United
States" was drunk standing amid great
enthusiasm.
Mr.. Beverage, who spoke on 1.-THE
Brotherhood of Business" said, among
other things:
The great truth of the hour is this-the
real interest of every American citizen is
the true interest of every other Ameri-
can citizen; the ultimate good of any
class is the final good of all. Unless we
abolish civilization and reverse the bal
ancing principles of property and cooper
alton on which it is founded, all legiti-
mate occupations are necessary; and, if
necessary, then the prosperity of one in
wolves the prosperity of all. And SO moth
ing is so vital to-day as for all Americans
TO know that fellowship is their highest
duty. If farmer, manufacturer, artisan
carrier, banker and all the elements with
which God has woven the American ma
ton, can understand that their interests
are Identical and not antagonistic, the SOW
ereignty of the republic over the markets.
minis and mines of all the world is no lon
ger a prophecy, but in the very realization
of that great truth, becomes an accom-
plished fact.
THE banks are not the creators of
wealth; the government is not the creator
of wealth The people, the soil, the air,
the mines, the looms-these are the creators
of wealth. The banks do not even own the
wealth they hold. They do not own them
selves. The stockholders own them part
w. but the depositors own them under the
accommodating decisions more largely even
than the stockholders. So the dema-
sogues' statement that the banks own the
country is merely a statement that the
country owns itself. The farmer, laborer,
mechanic, manufacturer, and business men
are the real bankers of the republic. They
put their money in banks, because it is
safer there, because it is convenient, and
for the multitude of reasons which, to-
gether. make up what men call common
sense. If left there long those deposits
usually draw interest. Those deposits
must be loaned out again to pay that in
terest. to pay dividends, to pay expenses.
OF these and all the operations of the
banks, the banker is only the servant the
agent the supervisor-the real banker is
the depositor and stockholder-the real
banker is the American people. The NOM
inal banker, from president to bookkeeper,
is nothing more than the telephone girl at
the exchanges throughout the country,
with the central exchange here In New
York; the banking methods and devices
are nothing more than the wire and trans
mitters and receivers; the depositors are
the subscribers to the system, TO serve
whom it is the business of the whole ma
chinery of financial exchange. The banks
may be the transmitters, receivers and all
that: the officers of banks may operate
the exchanges; but those who do the talk
ing are the prosperous and producing
American people"