The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1900-12-22
State Banking Department,

4 dAA A.1No hA0A 80 N1~
coast of Juda, has not yet died out.
State Banking Department.
The following address was delivered
by Emison Chsnslor before the Bankers
of Group 3 of the Missouri Bankers
Association at ST. Joe.
Banking is an ancient and honorable
business, neither the history or nature
of which needs particularly to be dwelt
upon in this paper, though the latter
will be somewhat interviewer with It's
theme.
"The Banking Department These
words suggest a thesis upon what a
banking department should be. First
OF all 1t presupposes' that there is some
thing for a banking department to do,
and then The inquiry comes as to what
that duty is, and how it is best to be
discharged. While ] am naturally TO
consider this question from the bankers
standpoint, yet must | be broad enough
TO command the respect and confidence
Of the general public, TO which the
business Of banking looks for its sup
port and profit. Indeed everything
that q bank does which is Of lasting
and substantial benefit to itself must
partake OF that dual character which
has about it benefit for the customer as
well as the bank. In this connection Il
may be said that at no time in the his
tory Of the world has the bank been so
useful in The carrying and conserving
Of business interests as it is today. AT
no time has lis efforts so thoroughly
and intimately p~ermeated the by-ways
as well as the highways Of human
undertaking. Its ramifications are
everywhere, especially is this true in
Missouri with its iI5 counties Qnelnd-
ing St. Louis city, and its seven hun
dred banking institutions. Conceding
the desirability OF a Banking Depart
ment let us determine what 1t should
be.
1t should be presided over by q man
who rs informed as TO the law, a broad
intelligent business man. He should
be able, impartial, dlligent and brave.
These are high requirements and yet a
banking department which falls short
OF them will give satisfaction neither to
the public nor the banks. He should
have with him examiners chosen for
their fitness and competency for the
work 10 hand, with these qualifications
on the part of the officers Of the de-
parlmeni, there should be no friction
between them and the bankers whose
business they examine. The coniden-
tial relation established by examination
between The bank, The department, and
the examiner should be preserved
II is among the most important and
delIcale Of all business confidence. The
department should be SO conducted
that its experience may be made useful
to The banks IN the incubation Of better
methods where practicable, and should
also be crystalized into legislation. II
should be the duty Of the department
10 aid in lettering these statutes, to
weed out the crude and unnecessary
provisions and to secure a few needed
ones 10 round out and harmonic the
whole. Personally, ! am not in favor
lengtbening these laws by a line.
While we are setting up a standard fol
The banking department let Us bear ia
mind, as bankers, we too have a duty
to. perform. There should exist be.
tween officers Of banks and The depart.
ment of the state the most cordia.
relations. Each should treat the Other
With that consideration and courtes,
which should attach 10 the high dutiei
and position they respectively occupy
Each should aid the other in ever,
practicable manner, and the banker
can in no way offer greater assislanc,
than in a prompt and cheerful com
p%liance with all lawful and proper
requirements of the department
especially when II is remembered th'
law makes II incumbent that the,
should be made.
The Legislature in 1925 placed upol
n statute books the law known a
Bank Examination, thus inauguratn,
in our state what may be termed
Banking Department, and TO the secre
tary Of the state was ascribed the dot,
of Jurisdiction of this department. How
well this law has been enforced 40,
the necessity Of creating such a depart
ment let the history Of the department
answer. While there was some feel
ing Of opposition to bank examination
AT first, / do not believe there Is
single bank or banker ~ the state VIII,
does not today endorse the same. In ia,
five years the department has existet
Ihere has been removed iron the list o
banks more than 1870 institutions eithe
by closing or forced liquidation tina
the law held unworthy OF their charter
association, Iand existence with you
This has been accomplished quietl,
and without injury in the slightest ;,
the good and solvent institutions OF on
state, and will say further, that will
but one exception there has no
occurred a loss to the depnsItor Of ID,
Institution closed. Ihs stockholders II