Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-11-12

New Orleans, Nov. l2,-The second
DAYS session of the American Bankers
association was resumed today after
: prayer by Bishop Rauxel.
Under suspension of the rules Col.
Lowry Of Georgia, asked that Mr.. Kilt
1redge, the secretary of the bureau OF
education, be allowed to say few
words about the bank clerks institute.
Mr.. Kittredge made a short verbal
report In addition to the formal report
made yesterday, John Il, Hamilton
chairman of the committee on fidelity
insurance, took up the report of that
committee which was presented yester-
day.
The call of states was deferred until
later. The discussion OF the currency
question was then begun. Congress
man Charles NJ Fowler spoke on as
sets, currency and branch banking. He
explained the features of his bill ex
temp0re.
CONGRESSMAN Fowler criticised the
bankers freely and was given an oya-
ton when he had concluded, although
more than once when he asked II the
convention did not agree with the doc
trlnes he was expounding he was an
swered by cries Of mo"
DAWES ON FINANCIAL REFORMS,
Forr Comptroller Charles c.
Dave &c substantially as follows;
'Wnah,al reforms In the United
States. with its vast population and d.
versifed interests, are, as they should
be, 4 matter of evolution. Public sem
t!ment Is the factor which in matters
anectlng all classes of the people, de-
termtnes the trend OF legislation In rep
reseiltative governments. A general
public perception of the need Of reform
In our currency laws will lead as d
rule. 70 corrective legislation, provided
our lawmakers and currency reformers
VIII advocate practical plans which are
not 80 radical as to be at variance with
and In advance of public sentiment.
Whatever may be our individual
theories as bankers, as 10 branch bank
ing, reform Of the present sub-treasury
system and asset and emergency circu-
lation, we should view with distrust
and apprehension as practical men the
extremely radical, and comprehensive
measures suggested at the present time,
covering not only asset and emergency
ctrcul4tion, but branch banking and
sup-{teasury changes as well. The cur
Tcnc{I refOrmer should ask himself
whetare those simple propositions out
Of AZ the many which have so long been
d}1cV1Bed which the people
rot IMPLY the bankers, can unite upon
enQ{Xave incorporated into law. To
fn0{ hat Is the best practicable reform
AZ - time, not simply what Is best
tkeQ& tically, should be our purpose as
tuai4oBs men. Let us take one step,
or may not take any We had best
como de at the outset, that whatever
mayBe the legislative outcome of the
univ(ffal discussion and public interest
relative to the trust question. until
ConG<ees settles It's mind as to what to
do VIII the question Of the relation OF
the government to the present great
induXrial combinations, II is not going
TO t4ke down the bars and remove the
exiSUog restrictions upon branch hank
Ing, nus further facilitating the prog
respM consolidation In the banking in
tore which Is already going on to
soma extent, through other devices
than'{b branch banking system"
npklng OF the branch bank system,
The tendency would be to curtail
the uurnber of small loans where per-
sonat(y and character are elements IN
the oonsideration Of loan applications
by W local banks.
m" branch bank, operating under
less @xpense than the independent
bank<<can take the bulk Of the deposits
by otrng higher rate Of interest to
depol5{ors,"
A Rtural result he said. would be
the mdual determination OF small in
deperoent banks
Heladded. Now what will be the
efe0<upon the public interests Of
syst which ourtails loans TO the Dor
TOWN. customers of this great system
OF fr14ll banks which we have through
out ne country and facilitates at their
expel1e the borrowing Of money by