New-York tribune., 1900-07-14
STATE BANKERS MEET.
STRONG ADDRESS BY SUPERINTENDENT
KILBURN on SOUND MONEY.
COLD THE STANDARD OF THE WORLD
INFERIOR CURRENCY A MENACE.

morning.
the president Henry c. Brewster, ot the Traders
National Bank Of Rochester. He dweit principally
upon what he characterized the present UNJUST
bank taxation asserting that the banks paid more
than their share. and that the big corporations
and trust companies paid less than their snare
I. ! Clark Of the Pulaski National Bank, Pul-
aski. presented his report as treasurer
The formal report Of The secretary was submit
ted in perfunctory detail 10y = o. Eldredge Of the
Owego National Bank Of Owego, and it was re-
ceived and referred
E 5 SchencH. OF Nev--York City spoke in regard
70 the social features Of the assoc citation and the
imperative necessity Of prompt and concerted ac-
ton relative unjust taxation. stephen Grls-
void OF Brooklyn and W.,liam H. Rainey, of
Kinderhook. both spoke al length against the free
coinage Of silver the ratio Of 6 10 J. and urged
upon all bankers regardless Of political affiliations
70 stand together and maintain the financial credit
and integrity OF the American nation. Their re-
marks were applauded. were also those Of eX-
Senator George 3. Sloane, Of Oswego who spoke
OF the same line T. 2. Thurber, the secretary
Of the Civic Federation Of New'-York City. who
seated in the audience, was requested TO make a
few remarks. AIr. ThUrber dwelt upon the differ
ence OF taxation Of banks and trust companies. He
said banks taxed three times their fair share,
four times more than banks OF other States, and
five times as much as the trust companies Of this
State. He believed that intelligent. associated
effort would afford relief. This was an age of or
ganization. and organization should produce de-
sired results. Mr.. Thurber said that he spoke from
business mans point OF view
The following nominations were made 10 be voted
upon tomorrow: President, John B. butcher. Paw
ling: vice-president. John H. De Ridder, Saratoga
Springs; treasurer. J. F. Thompson. New-York
City; secretary, 3. Y. Wellington, Corning.
Mr.. KILBURNs ADDRESS.
The association adjourned and reassembled at
BIS p m. The report Of the special committee
On taxation was presented after which Frederick
D. Kilburn. Superintendent Of the State Depart
ment of Banking. made address.
He spoke in part as follows:
bank and The people. the loT5rnmcIt is Under obi
cation to provide and maintain that every form Of
money be kept always al parity with the basis
this money be- +har when the CIVILIZED world en-
plOys and recognizes as the best. There can no
moro pe two standards measures Of value OF
two measures OF length Of quantity. Business
cannot buy by one measure to-day unless guaran-
ready 10 sell tomorrow i cannot pay gold in the
be danger that il may be forced to accept de-
probation of coin or irredeemable paper in the
eouality Of opportunity with the enterprise Of other
nations IL reaching out gain snare in supplying
the worlds wants, 1t must not be fettered by an
The world accepts gold as the standard money
Experience has approved il fhe most convenient
for this purpose me safest ana the most stable in
value OF metals, We may adYaEt Etageousy use
tainty, but further. Your bank bills depend for
excen+ in gold wbe9 i1s Owner 50 demanded Con-
strue the contract 70 make the bonds payable in
silver, and that instant the parity OF various
kinds of Inoney would be destroyed. The banker
whose honor is treasured beyond the riches IN his
vaults, and TO whom the apprehension OF panic
sound money advocate. He krCws that his own
safety depends upon the maintenance OF uniformity
IN value Of all the forms Of money ne handles and
he knows also that there be prosperity with
upon which II may build. The first and the funda-
mental requirement. for practical banking is, there
that he he
and N accord with that Of all the other enlightened
gold dollar as its standard Of value
The relation between bank and the community
bank should be so conducted that the community
win feel that II is public benefit and factor IN
understanding ought TO exist between the bank and
things in the nnana cement Of q bank is to make
customers appreciate that the loans made TO them
II is necessary for them 10 secure the bank beyond
question
Mr Knburn pointed that in New-York COM
paTatively little paper went 10 protest, while on
the other hand in the agricultural districts meth
DDS were lax resulting in much past due paper,
Continuing. he said:
The great central secret and requirement of sue
ccssfuI banking is TO know how and where TO loan
banks are caused by bad loans than By ali other
causes put together Occasionally we hear Of en-
81 ishoneStr on The part Of one or more of its
9e5rfsis 5-IS5e noyraver is tie axcant{o, Dis
honesty perhaps cannot be guarded aga Alst en-
tirely-
ABOUT DIVIDENDS
I would Ike 10 say something about the policy Of
banks with reference 20 the declaration Of div-
dends- / know that l am treading delicate
ground, and that many VIII agree with me in
ny view upon this subject, but I believe that in
certain and IN certain circumstances the
1ent Of dividends Is one Of the greatest obstacles
success that banks experience. II may not be
possible TO lay down any specific rule by which
thai all banks would succeed better if they de-
ferred dividends until their surplus equaled their
capital
ration Of a dividend Is a tangible evidence of sue
cess and strength. and that business viii be
tracted 10 the bank by such course, and that. on
the other hand The failure Il declare dividends is
evidence that the bank is unsuccessful / would
rather have the attractiveness Of large and grow
ing surplus 10 increase the business of a bank
than al the solicitation that NAV be possible
Men usually VIII not deposit their money on
biHty they have any doubt The ordinarily prudent
VIII, above all things. be sure far as ne can
oe, that The institution in which he deposits his
congratulate this convention not only upon the
coi3alllon generally OF the banking institutions Of
our State which ] believe were never in a sol,ndsr
condition Of our country. its Industrial! and com
mercial prosperity and fFe rar,td stridae y,a ~.
tGt and benetceDt Influences we exercise iu the
business and concerns OF the world class bas
l59 IHoIe 10 90 II ne bringing about of these
cI.loLs II our country than It's bankers. and IN
this class New-NOrk takes the lead.
Following Mr.. Kilburn's address miscellaneous
business was disposed Of. Between . and o'clock
MS evening the delegates attended 2 reception
gwen by Mr and 1irs. Spencer Trasls az their
country seat, IN tnou-ave. s reception was also
given IN the Grand Union Hotel parlors at . O'Clock
tto,,H4.sIl. ioloWed by music md dancing Ia the