Omaha daily bee., 1902-10-04

lormlty throughout the union; DAYS of Rrace
snouid be abolished, they are of no beneAt
10 the borrower; a maker of a note al
.eTea AFTER leaving his hands, should he
heiu responsible for the payment Of the
note as originally drawn.
jealous of Their Field.
F. kuenneth, cashier of the Union State
bank OF Harvard, speaking on the subject
OF Express and Money Orders" said that
the transmission of securities was once the
most important work Of the banks. but they
nave been driven out of that business to a
great extent by the government and the ex-
press companies with their money orders.
ne gave ngures showing the growth Of the
governments business in money orders.
this alone, II done by the bankers, to whom
IL would belong, would have made a good
proht. 1t has been suggested that banks
retuse to cash government or express money
orders. The speaker said ne did not believe
In boycotts, but would change the term
draft to bank money order" have blank
applications sent to mail order houses with
requests for the use OF bank money or
ders' and make the rate a little lower. II
possible, than the rates of the express COM
panies and the government.
Charles F. Bently. cashier OF the First
National bank OF Grand Island. smoke Of
Fidelity Bonds" He said thai insolvency
or banks is considered more serious than
In any other line of business; there is good
reason for this, and the public expects
promptness and fidelity on the part of
banks; bankers and bank employees are
human and defalcations may occur; the
damage from this cannot be measured by
the amount OF money lost, for people will
loose confidence; the good name of the
bank makes 1t necessary for bankers To
secure adequate indemnity; insurance is
demanded by all on merchandise and
bankers SHOULD protect their capital nv
means OF indemnity bonds: individual
bonds have the weight OF custom, but are
not as good as corporation bonds, for the
surety will not shrink as rapidly nor as
generally.
Talks OF Business Combinations.
After this paper a general discussion fol-
owed. The convention then adjourned to
the Willard hotel. where at 2 o'clock dinner
was served, after which ]. A. g.. Pollard
OF Fort Madison. Ia, spoke OF Trusts and
Business Combinations saying in part:
1 do not for one moment pose as an en-
pert, or even well posted student of trusts
and combinations. II you ask why i am
NNANN = NAN w " 0hAE HECTCNHTN VINO
in the wickedness of his heart, has saddled
this proposition upon me. / want to assert
now that IL | have solved the problem and
discovered the infailibie specific for trust
evils, | Will not be so presumptuous as 10
make the remedy public, out OF considera-
tton for the statictians and economists who
have been able to agree in but one particu-
lar-that this complex subject is 10 work
out, or can be worked out. only through
experience and actual Demonstration ~ fbs
good and evil which may lie In me CON
corporation. II
No more difieult controversy has an
In politics than the question OF their
for this enigma, counseled caution ana
slow-meaaured analysis. Real prosperity IL
for the greatest number. III Is
quite apparent that there Is a marked and
growing discomfort with an Industrial sitl-
alton which finds the tollers imbued with
OF commercial activity are largely onset
by increased cost OF living. I think We are
all agreed that when a MONOPOLY apDears
about by any cause other mar
mans inventive genius, Il should be sun
pressed by any lawful means.
II Is not unanimously conceded, but
think should be, by a liberal, fair line OF
reasoning. that n approach to monopoly
gained BY governmental favor and priVfieee
ana not based on the economical Droduc-
thons the excellence or purity OF product.
Tor the removal OF the undeserved
when a protective tarin Is not
for the beneft Of labor or 10
the industry 10 meet old world com.
petition. I think this demand rs not an
tagontsttc to the theory advanced bv pro-
t~ectiohists' for when an industry has
reaches such stability and pre-eminence
as 70 De able. while paying the American
s'snosra OF wages. 10 produce more eco