The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1902-11-14
AMERICAN BANKERS IN SESSION.
Eminent Ffnanciers azd Prominent
Men Make Addresses.

New Orleans, November 12.-The sec
ond days session Of the American
Bankers Association was resumed at
10 o'clock today after prayer by Bishop
@. A. Rauxel.
Under a suspension OF rules. Colonel
Lowery, of Georgia, asked that Mir. Kit
fridge. the secretary of the bure III Of
education be allowed to say a few words
about the bank clerks institute. Mr.
Kittridge made a short -erbal rep )rt IN
addition to the formal report made yes
terday.
Jshn L. Hamilton. Chairman of the
committee On fidelity insurance took I'D
the report Of that committee which
was formally presented him yesterday.
The call of states was deferred until
later. The discussion of the currency
question was then begun. Congress-
IN Charles =. Fowler spoke on assets
currency ard branch banking. He dis
cussed the features of his bill extern
pore Congressman Fowler did not
spare the bankers. but criticised them
with a freedom which. however, won
applause. He was given an ovation
when he had concluded although more
than once when he asked if the con-
vention did not agree with the doctrines
he was e~xpounding he was by
sries af mo-.
At the afternoon session a resolution
favoring the Louisiana Purchase Expo
sition was referred to the executive
council.
J. ]. Sullivan. Of Cleveland, offered
the following, which was adopted with
out objection.
Whereas experience has denonstrat-
Il
rency system and believing that the
best interests of the country demand
a system flexible as well as stable. he
it
Resolved. That the American Bank
ers' Association record its unqualified
approval of the enactment of a law I'M
parting a greater degree of elasticity to
our currency system. making ii respon-
sive to the demands OF the business IN
terestS of the country.
Resolved, That we favor the ap-
pofntment by the president of this assu-
citation of a committee of seven MEM
bers of the association. selected with
reference to their ability and high char
acter as bankers and their experience
in monetary affairs, and representing
different parts of the country, for the
purpose of carefully considering the
entire subject and report to the mex
meeting of this association"
A. j. Frame, of Milwaukee,, called up
his resolution reported without action
by the executive council, opposing in
vigorous language, the proposition for
asset currency and branch banking.
Chairman Bigelow, of the executive
council had declined to act on the reso-
luton because it did not believe it wise
to place the association on record on
that subject before an adequate solution
had been offered.
The resolution was referred back to
the executive council by a vote of SO TO
AZ.
Congressman Pugsley. of New York
delivered an address on A Emergency
currency"
Willis S. Payne, of New York. deliy-
Ared q brief ddress in which he urged
the necessity of having proper proVis-
Ion IN the law for an cur
rency. He suggested a highly taxed
emergency currency which would be re-
tired as soon as the emergency ceased.
A resolution by John l.. Hamilton. of
Illinois,, providing for the creation of a
committee of nine to investigate the
currency question and evolve a solution,
was presented from the executive coun-
Gil, but referred back to it by the Von-
vention.
The call of states then proceeded and
five minute speeches were made pre-
senting tbs of each state, Al
ALBANIA, Arkansas, California, Connen-
ticut, Florida and Georgia were heard
and then the convention adjourned.
AIntil tomorrow morning.
All of the important business has been
concluded except the election OF oflcerS.
Tonight the entire convention was
given a theatre party at the Grand
opera house