Omaha daily bee., 1902-10-03
MEN OF MONEY IN SESSION
Annual Convention Of the Nebraska State
Blnk,rJ Association Opens,
SENATOR NILLARDS ADDRESS OF WELCOME
Report Of Executive Council Reviews
work Of the Year md shows
the Organization to ne In
Excellent Condition.

The convention Of the Nebraska State
Bankers association opened yesterday morn
ing at CREIGHTON hall with about fifty
members present, but others are TO arrive
later. Il being expected that about 100 will
be in attendance.
It was 1O:45 o'clock when the president,
George w. Post Of York, called the meet
ing to order and introduced kev. Robert
Z. Lee Craig Of Trinity cathedral, who de-
livered the invocation. The president then
introduced Senator Willard, who delivered
the address Of welcome. The senator said:
Conference.-The welcoming Of bankers has
been a pleasure to me for many years ana
/ regard It an honor and a very great
privilege to be able to welcome you TO
/ need not remind you Of the fact that in
the trying times from 1892 to 1897 there
were occasions when you were not so
were we, as "A fraternity, looked upon with
favor. 1t seemed tor a while as II we were
classed with the road agent and gentry Of
However, a better feeling prevails now
and we are considered reasonably re-
spectable and our calling not altogether
Gentlemen, l need not recall to the minds
Of the older bankers here the struggles of
the early days of banking in Nebraska. 1t
does no good to think of past trials and
misfortunes and Il is perhaps needless to
Tecite them, yet there is little doubt that
such experiences are In a measure bene-
ficial as an educator.
~Nebraskn's Prosperity.
Nebraska is now more prosperous than at
any former period in it's history, and the
TO the banker-always. on the other hand,
we Know how quick trouble comes to us
when the people suffer reverses.
Bankers are favorites with me and l be-
ueve In them. No class in America pos
sesses kinder hearts, higher personal abil-
ity or u finer sense of honor than do the
bankers. And right here let me say that l
will for a time be so situated that l may
be of assistance at the national capital to
some or all of you. 1t, will always be a
pleasure to me to serve THE fraternity In
any way, and / ask you to call on me at
The history of banking in Nebraska since
the year in which l first CAME here 1855 Is
indeed most interesting and l hope some Of
the speakers at this, convention may give
you a few pages Of that early history.
Bankers, you are the salt of the earth
worthy citizens always-and l again ex-
press pleasure in welcoming you to Omaha
and voice hope that great good may re-
suit from this convention.
S. II. Durham of Lincoln was then intro
duced and delivered the formal response to
the address of welcome. He told Of the re-
lations Of the banks of Omaha to those OF
the state and said that It was the duty Of
every banker to become acquainted with his
Omaha correspondent; that the state bank
ers gained much by their visits to. the city.
Report of Executive Council.
Following this address President Post de-
livered his annual report, followed by the
annual reports Of Secretary Gould and
Treasurer Hamilton. These reports were
practically summarized in the report Of the
executive council, in which it was said:
The judicial committee, consisting of G..
w. Post, j. b. Dinsmore and Il. l.. Stew
ems, has arranged to have copies of the
negotiable instruments law placed in the
hands of those who desire to have them.
On motion of ]. d. Haskell it was decided
to make this law a subject for consideration
at this meeting, and Edwin Leary of Elm.
wood was asked to prepare a paper, which
will be discussed by the members. A com
and Victor Caldwell, has closed contracts
with the Ocean Accident and Guarantee
ance and with the National Surety companv
OF New York for fidelity bonds. The sec
rotary has written insurance in these COM
panies for several months, and now has In
the fund $685.. %, of which 500 is from fidelity
bonds and $685. from burglary insurance
There is S47, 500 insurance in effect in the
former and S425, 600 in effect in the latter.
The committee has opposed the Fowler
bill and advocated the repeal of the wal
tax on bank capital since the last conven.
ton was held. There are 23S banks now
on the roll OF the association, two having
cropped ,r out ar and fortyc3ne having beer
The following resolution was offered BY
Secretary Gould and adopted:
Whereas, In the sudden death of GeorE,
X. Voss on Tuesday last this association
mourns the loss OF one who was formerly
a member and also their secretary in 1892
and in whose death the chairman of oul
executive committee, Mr.. Henry w. Yates
family.
Resolved. That we tender to the widow
our kindest sympathy in memory OF tn,
deceased, and to Mr.. Yates-always a true
friend and wise counsellor of this associa
ton, and who from it's foundation to thi,
date has, with one seasons exception. All
ways occupied the highest gifts within oul
power TO bestow, our president and chair
man OF our executive council-we tender
our deepest sympathy and highest regard
and do order the secretary to have thii
resolution .engrossed and sent to our hon
ored member and a copy thereof spread
upon our records.
Charles q. Dawes Address.
At the afternoon session Charles G
Dawes spoke, his subject being Asset Cur
rency-Branch Banking" Introducing hi
remarks, Mr.. Dawes said that the countr,
h passing through a condition which call
for legislative action; what we want is no
a law which takes up every phase OF tn,
financial question, but several laws dealing
with different phases, and said in part:
Now, as to this cry for the abolition o
the sub-treasury, We do not need in thi
country so much the abolition OF the sinh
emergency circulation. The effect of tn
abolition Of the sub-treasury system at thi
time would temporarily be the same as tn
enect Of emergency circulation. l thin
the sub-treasury system of the Unite
states should be modified, but it is no
safe at this time, and It is not right t
entirely abolish the sub-treasury system
for II the treasurer of the United State
has TO deposit all the public funds of tn
United states In the banks so that tn
cash assets of the government are to b
In the shape of credits against banks, W
would be face to face In the future wit
exactly the same condition OF things tina
We are confronted with now. The onl
difference between the present condition an
the condition which we would eventual
reach with the abolition Of the sub-treasur
Is that the government would then be har
up for currency as well as the rest of us.
They talk OF the elasticity OF the Cana
dian banking currency. IL is more like III
elasticity OF wet leather than of rubbel
1t keeps stretching out, stretching out, an
not contracting enough. II we are goin
TO have an elastic currency I'm this countr
We must have a currency that will contraS
as well as expand; which will come OF