The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1902-06-18
The Bankers Alarmed.

pTUdCu. Doii4ooto
The Bankers Alarmed.
The Missouri and Kansas bankers,
at their convention recently held in
Kansas City. adopted the following
resolution:
RESOLVED. That the members OF
this association have carefully listened
to the recent discussion of the subject
of branch banking as advocated by the
able gentlemen from the East, and
combatted by some of the ablest and
best known members Of this state
association and Of our neighborlng
state Nebraska, and we hereby affirm
our answering allegiance to that
view of the proposition which con-
demns it in all its forms as being un-
patriotic, un-American, unbusineSs-
ike and as tending to establish
monopoly of the great and honored
business of banking in the hands OF
a few millionaires, to the exclusion
of the men Of the west, old and young
who have labored so faithfully and
well to make our banking system
what it is today, the best in the known
world.
In discussing the above the Hon.
William Jennings Bryan who predict
ed this very condition of things in his
campaign speeches in 1896, says it
has been habit of the Republican
managers to use bankers conventions
very generally for the adoption Of
resolutions giving cordial approval to
Republican policies. The bankers
conventions figured very conspicuous
" in the last two presidential cam
paign. While tie Missouri and Kansas
bankers are to be congratulated upon
having the courage to denounce one
Republican schdme, it is not out OF
place to direct attention to the fact
that this is the first occasion wherein
a convention of bankers has gone on
record against trust. Is it not sig
niicant that during all the time that
plans were being laid for the organiza-
ton of trusts that prey upon the peo-
pie generally, no bankers association
was heard to make protest, but, on
the contrary, bankers associations,
very generally gave ready encourage
ment to the political party which
they knew was the faithful guardian
of trusts?
Now that the trust system which
many bankers have told has come to
stay begins to encroach upon the
bankers domain: now that the shoe
pinches the bankers foot, he is heard
to protest against the banking trust
as being 'unpatriotic, un-American,
unbusiness-like, and as tending tC
establish monopoly Of the great and
honored business Of banking in the
hands of a few millionaireS, to the
exclusion of the men Of the west. OLD
and Young, vino have labored so faith
fully and we'll to make our banking
system what it is today the best in
the known world" Is is not some
what strange that these gentlemen
did not think Of these things in the
presence OF OUnef UfuSuS:
Every trust that is in existence to-
day, that has risen upon the wrecks Of
Smaller corporations, has been "un'
patriotic:" it has been "un-Amerl'
cam it has been unbusincsslike::" il
has tended to establish monopoly OF
a great and honored business" to place
that particular business in the hands
of "a few millionaires, to the eXclu'
sion of the men Of the west" OF the
south. of the east and Of the north
old and young, who had laborcd Sc
faithfully and we'll to make thell
particular business successful.
The tendency OF the banking trust
will be to drive out Of business inde'
pendent bankers and to deprive the
man. particularly qualified for the
banking business, OF the privilege Of
working for himself and profting by
his toll and his ability: and in the
place of independent bankers it vii
give us, as every trust has given us. 9
great body Of hired men, working up
on a salary, dependent for their posi-
tions upon the whim and pleasure Of
, an employer.
The trust system is adverse to The
interest of the country bankers eX
actly as it is adverse to interests O
people generally. 1t is directly ad
verse to the interests Of the country
bankers because as certain as night
follows daya great banking trust VII
be established in this country unleS!
the people unite for the purpose Q.
crushing out the trust system alto
gether. We cannot encourage the
organization CT trusts in some line:
and deny the privilege in others: anc
this will be particularly true with re-
lation to the business which deals II
money. The country bankers Will d(
we'll to array themselves against the
trust system. They will do we'll &c
turn their backs upon the Republican
. party and give their support to poll
teal organization that demands equa
rights to all and protests against
special privileges to any class.
The bankers of the country art
, protesting against the organization OF
a banking trust, but they will protest
in vain. That is one Of the schemes
of the socalIed sound money shoutelS
of the last two presidential campaigns
, and the bankers will have to takt