The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1901-11-26
PRES. SMITHS ADDRESS

/ frn tbat was more intehigcnt than be-
I fore. Of every proposition tnat presented
itself for consideration ana more conf
dcqt of the success ut every venture
undertaken.
( was suggested al that convention that
I H. banking business now amounts 10
1 81 nee and that suggestion MAJ, thihk,
/ iC aiken as true in SO far, az least as
/ g. methods Of that business may ne
I s.i 70 be placed uIon accurate knoWl-
/ et ta which is only another name Tor the
50 ntifc knowledge. Stnl, would pre-
vel T. III possible, any inclination on the
part OF the banker to rely wholly on any
system. however scientific It may oe sup
posed to be. for his personal success IN
/ the banking business, or TO rep0se IN the
confident belief that the banking machine,
| being scientifically perfect, Is in every
/ instance a sure winner.
I Such a view Of the banking business
does Indeed exalt the machine but also II
4 reduces the sphere Of the banker himself
I to that Of "a mere mechanical agent, ana
. Il likely to encourage the erroneous be
I lief that an one needs, IN order TO De-
Z come rich, is TO start a bank.
What l would be glad TO promulk te' LOT
the benefit of the banking fratefnty, ana
I were ] able clearly and forcibly TO do 50,
SLOWING no man to transcend me IN the
degree OF admiration that ! entertain for
the complex. unique magnificent and dig
niiiod method of modern banking, Is, the
growing necessity now fast becoming ap-
solute, of an intelligent refined ana trust
worthy individuality of the banker him
self. Of "a capablity In him TO comprehend
the complicated conditions OF both law
and fact with which his business is iden-
tilted, as well as an understanding Of the
methods BY which that business Is u be
transacted.
II is conceded, / think. that the bank
er is a potential factor in the business
affairs of community. This TACT mas
been repeatedly emphasized in this asso-
ciation and is evident enough TO even the
I casual observer; but 1t is not Whoily Que
Z q ltt 40 n hn
err but to the more important and fai
reaching fact that his business idtntihes
him with the financial movement OF the
world around him. These movements epo
and flow Certain causes accelefates, ana
certain other causes retard their notion
They reach the danger line at botn eA
tremeties. They are due to various foFcts,
and combination Of forces, always norc
or less operative in the worlds CONNER
cial affairs. Discovery, production, lesis-
lation and speculation, and with variable
conditions OF surplus and shortage at
tending each and ali of these, are elective
forces the extent Of which can at Orst
be but proximately estimated.
There can be no doubt, leastwise there
is none In my mind that the banking ma
chinery, which, l may say is hourly APP
along with the splendid monetary system,
themonumental achievement of great
nation after thirty years Of noble cor
tention for the final triumph os financial
truths. is probably now, and in the near
future will certainly be, an efficient par
rier against the wide spread billows Of
irrational speculation on the one hand,
and a sure deliverance from perilous re-
action on the other IL is the balance
power, the regulator Of a worldwide bus
mess activity, and for this reason, this
association and all similar associations
can well afford TO seriously study, and et-
fectually develope every detail OF the
banking business.
To your humble speakers mind 1t is Idle
to suppose that financial panics, with
their entailment Of incalculable disaster
are either natural or necessary evils. At
most they are but fatal, grim casualties
incidental to imperfect, unscientihc laws
and methods of financial operation. They
can, and finally Will be, prevented. Or
der. that first law Of nature, within the
universal reign of which dwells harmony,
as of some perpetual music, 1t but the CO.
incidence OF perfected lay and perfected
machinery, and VIII obtain here In the
world OF finance as well as elsewhere,
when disruptions, as we call ''panies,'
Will disappear, or al most, be reduced 20
the minimum
Indeed, as a matter of course, we can
not dare not, bate one smallest portion
of the zeal which is due from us TO inn
prove, refine, perfect the banking sys-
tenn as such. Its Importance is acknOwl-
edged. and while in the weary nature of
the system itself its growth Is more OBJ
scure than that OF any other financial
agent. and on that account scarcely OBJ
ter of fact that growth has been not
only rapid, but also wonderful; and the
bcneiicient results Of such Improvement
are well understood by those on the in
side. and realized by those on the out
side.
But what Of the banker himself? Is he
Improving correspondingly2 Or is he
rat her losing his Identity as an individual
and sinking TO the level OF a mere agent?
These questions are the more important
for the reason, first. that his accemula-
tion OF wealth is not wholly dependent |
upon, or the result of the perfection OF |
his banking machine. More is due to the |
sagacity with which he discovers oppor- |
tunity. and the skill with which he meas
ures 1t and accurately determines Its ex- |
tent. 1t Is said of the skilled cattle buy |
er that he can closely estimate the weight |
OF given steer standing on it's feet in |
the field, or a number OF steer herded |
together; can the banker with equal ap- |
proXimate accuracy determine the essen |
tial clements OF a proposed project, it's |
risks and the extent OF them; it's net re- |
suits and the certainty CT them; its COM |
labor, and the availability Of these? or |
Is he at best but an empirical guesser? II |
A complete knowledge OF the machine 1
may make him an excellent engineer in /
directing the methodical work within the /
bank itself. but what of the question of /
enterprise of the business Itself? Does |
not this latter lie withiut the bank and /
within the whole arena Of human endea-
side activities2 is II not largely depend
ent upon what others are thinking and
doing2 Who is he whose vision .ies in \
telligeAtly on what the world around him
IS about2 Whose well-trained, luminous /
mind makes accurate Judgment on the |
worth of Worthiness, the fruitfulness or L
barrenness OF what he sees2 Certainly
there is an individuality capable of farm
Ing the thoughts and things and deeds
n men, In that mine he digs his silver
and gold. His wealth Is distributed
throughout the wants warnings, wishes |
wisdom. the failings and successes, the
ambitions and fancies, the struggle and
work the proposals and ventures, the
tastes. the pride. and the virtues of man
kind and 10 CLEAN Il from It's hiding
places there is work OF the wealth gath
arer
But this conception Of such a person
atty IN the banker himself presupposes
hat from one source or another, perhaps
from NAM sources, he acquired financial
wisdom and skill. II Is not within the
scope Of this address TO speak of others
II the sources besides the particular one
u the banking business itself. But We
yill have aceomulished our uurpOse "