The Montgomery advertiser., 1901-10-18
MEETING OF THE BANKERS.
Resolutions in Memory of the Presi- dent Adopted.

F F
 Milwaukee, Oct. 1.-The closing days session of the American Bankers Asso- citation was devoted to d continuation of the discussion of practical banking ques- tons.
 After a prayer by the Rev. J. Beveridge Lee of Milwaukee. President Trowbridge introduced P. c. Kaufman of Lacomb. Wash, who spoke on 'The Financial and Commercial Future of the Pacific Coast" " Walter D. Coles of St. Lotus, Mo, was the next speaker His subject was "The Bankruptcy Law"
 Mir. Walter Coles spoke about the fed eral bankrupt law, saying, in part:
 The present bankrupt law unquestion- ably embodies many of the esential pro- visions necessary to a sound and efficient insolvency system. It would be far from the truth however. to consider 1t as free from defects. These defects, while op- presive and unjust in effects. are not fun damental or irremediable in character Organized and systematic efforts are now being made by the National Association of Credit Men and by other influential commercial bodies to remedy, by proper amendments, the evils resulting from the faulty provisions of the law.
 "A bill reported favorably to Congress at the last session." he said, would. if enacted, give relief against the present unjust provisions of the act concerning the surrender of partial payments and would also throw additional safeguards around the granting of discharges. This bill would be pressed for consideration at the coming session of Congress. as 1t was confidently believed that it's passage would give bankrupt law which would prove socially advantageous tn restoring to useful activity insolvent debtors held in the thrail of debt: provinding for cheditors just remedial process tending to promote conservatism in business and throughout the union and equitable, uni from method of administering the estates of insolvents. thereby fostering trade and strengthening credit among the mer- caftile class
 James H. Eckels of Chicago, formerly Comptroller of the Currency, was intro- duced at the conclusion of Mir. Coles paper.
 Mir Ecke1s spoke on Assets Currency" He said he agreed with Secretary Gage that the financial system had not reached that point of development where a peo- pie of so much progress. so much energy and force as the people of the United States have a right to expect that it should. He would like to see legal tend- | CTS of the government retired as there is always a possibility of their reissue in a | form of detrimental to the country. He would like to see the abolishment Of the | sub-treasury of the country. It stands | as a menace to the trade and commerce | of the country becauFe 1t locks up money | The sub treasury should be conducted as is the business of private individual ol large corporation. He would restrict rev I enue where the credit of the countr, | could be maintained. He believed In grea banks and a branch system of banks. Wi | have an administration that command 1 the confidence of the people and admira' ton of the world, and there is no reason who we might not well discuss with | frankness every public question. The following memorial on the death of President Mckinley was then pre- scented:
 We, the members of the American Bankers Association, are saddened by the death of our honored Chief Executive, William Mckinley.
 His fame rests securely in the nation that he loved and helped to save.
 we acknowledge to the fullest our ob- Iigations to his memory and desire to put on record this simple testimony to his high character and life
 Most deeply do we sympathize with Mrs Mckinley and his family. who have suffered so much greater loss. and in some small degree testify to our love and respect for him and our sorrow for his death"