New-York tribune., 1901-10-18
BANKERS' CONVENTION ENDS
EX-CONTROLLER ECKELS APPROVES OF
SECRETARY CAGES SUGGESTIONS
MKINLEY MEMORIAL ADOPTED.

Milwaukee, Wis. Oct. 1.-THE closing days ses-
sion Of the American Bankers Association Con-
vention devoted to a continuation of the dis
cussion OF practical banking questions After
prayer by the Rev. ]. Beveridge Lee. of Milwaukee
President Trowbridge introduced P. C. Kaufman.
Of Tacoma Wash, who spoke The Financial
and Commercial Future of the Pacific Coast"
Walter D. Coles, of ST. Louis, was the next
speaker His subject The Bankruptcy Law"
and he said in part:
The present bankruptcy law unquestionabIy en-
bodies many Of the essential provisions necessary
10 sound and ef1cient insolvency system It
would be far from the truth, however to consider
it as free from defects These defects, while op
or irremediable in character. Organized and sys-
Association of Credit Men and by other influential
commercial bodies to remedy by proper amend
ments, the evils resulting from the faulty pro-
A bill reported favorably to Congress at the last
session would IL enacted, give relief against the
present unjust provisions of the act concerning
throw additional safeguards i around the G granting
et the Tnis Dill vii be % pressed for con-
Is confidently believed that its passage would give
tageous in restoring to useful activity insoivent
debtors held in the thraI of debt in providing for
creditors just remedial process tending to promote
conservatism in business and in establishing
method of an the eses Of SnG
thereby fostering trade and strengthening credit
James H. Eckes. OF Chicago, former Controller
of the Currency. introduced to the convention
by President Trowbridge at the conclusion Of Mr.
Coles's paper.
Mr. Eckels spoke on Assets Currency" In intro
ducing his subject he said he felt that he was
getting to be very old story. Three times he
had had the pleasure of discussing banking inter
ests before the association. He could not he said
elucidate anything to the members of the
association. At the best, all he could accomplish
was to restate some old things. The note issuing
, functions of the country not what they ought
to be. He said the papers of A. B. Stickney and
Secretary Gage yesterday thoughtful in sug-
gestion and might well he considered by the
| association.
He agreed with Secretary Gage that the financial
| system had not reached that point of development
where people of much progress, so much
energy and force the people of the United States
had right to expect that it should He would like
10 see legal tenders of the government retired,
there always a possibility Of their reissue In
| q form that would be detrimental to the country.
| He would like to the abolishment of the Sub
| Treasury of the country. 1t stood a menace to
the trade and commerce of the country because II
! locked up the money. The Sub-Treasury should
| be conducted the business Of a private
individual or large corporation. He would restrict
revenues where the credit of the country could be
| maintained. He believed in great banks and a
branch system of banks. We had an administration
| that commanded the confidence of the people and
| admiration of the world and there was no reason
why might not well discuss with frankness every
| public question.
| At the conclusion of Mr.. Eckels' speech. he was
| vocferously applauded and thanked by the con-
| vention by rising vote.
! The list Of officers reported by the nominal
tions committee was elected. as follows: President
Myron T. Herrck. Cleveland; vice-president. Cald-
! well Hardy. Norfolk Va: chairman OF executive
| council, Frank G. BSelow. Milwaukee; treasurer
| George VI. Reynolds. Chicago
| New members executive council: Ralph Van
Vechten. Iowa J. J. Sullivan. Ohio: John L. Ham
iton. Illinois; James r. McCaister, Pennsylvania
| Frank G. Bigeow Wisconsin; Z. F. Sweeney, Mis-
souri; +. II. Fries. North Carolina: ]. NJ. Donald
New York: p c. Kaufman. Washington William
! G.. Mather Cleveland
The executive council will elect the secretary
! probably James r, Branch.
| President Trowbridge. retiring was presented
| with a silver punchhowI by the members OF the
association.
J. S. Davis. OF Georgia, introduced the following
| resolution which referred TO the executive
! council:
serve the purpose intended by Congress to give
| relief to the honest. oppressed debtor; and
upon both the creditor and debtor class and the
public by reducing lines Of credit restricting bust
ness, thereby checking the wonderful development
| OF the country promised through right conditions
Resolved That this convention. through the
executive council Of the American Bankers Associ-
| law.
| The Mckinley memorial. adopted by a rising
vote was presented by the committee appointed
| by President Trowbridge follows:
| We the members Of the American Bankers As.
ISOLATION are saddened by the death of honored
| Chief Executive. William Mckinley
His fame rests securely in the nation that he
| loved and helped to save.
! We acknowledge the fullest our obligations
! 10 his memory and desire 10 put record this
simple testimony to his high character and pure
( life
! Most deeply do sympathze with Mrs. Mckin-
! ley and his family. who have sustained so much
! greater loss and may this in some small degree
! testify to our love and respect for him and our
p. c. KAUFMAN,
AIYRON T. HERRICk.