Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-11-12

NEW ORLEANS. November 1.-THE
tw.nty-sixth annual convention of the
American Bankers Association assem-
hlcd in Tulane Hall to-day. beginning
three DAYS session. This is the largest
meeting of the association ever held, and
the largest aggregation of financiers ever
gathered at one time in the history OF the
country Up TO a. late hour tonight there
had been 1900 delegates registered. and
nearly 500 visitors and ladies. Seven spe-
ciei trains dozen private cars and all
regular trains for the past three days
have been engaged in bringing the crowd.
which has taken complete possession OF
The ST. Charles Hotel, the headquarters.
and overt'owed into every other hotel in
the city.
At the opening session there was prayer
by Rev. DIR. Beverly Warner. and ad-
dresses We're delivered by ActinS-MaEor
William Mehie and Cny-Attorney Samuel
j.. Gilmore. on behalf of the local bank
ers. President Eorrick replied to the
welcome, and delivered his annual ad-
dress.
The forma, business was then taken up.
This consisted in the reception Of reports
of officers and committees
Secretary J. z. Branch's report showed
q present membership of 6,354. with an
annual income of $4,000. There was net
increase IN membership GuI1NS lilc S'ti
of 973.
Hepburn Plan.
Chairman T. NJ Bigclow. of the Execn-
tive Council. submitted report. in the
course of which ii was stated that the
currency plan of Mr. Hepburn was en-
Iorsed in SO far as it suggested the issu-
:lncc of currency by banks Of $4,000 cap
ital and $4,000 surplus or more, to the
extent of half of their capital stock, at a
view
month";.
Reports from the committees on uni
form laws and fidelity issuance were
then submitted
Reports of the protective committee and
of the Committee on Education by the
chairman. Robert J. Lowry. were pre-
scented, after which the programme was
changed so that Comptroller Of the Cur
rency w r. Ridgely could be heard. he
spoke on the change in banking cond-
lions.
John Johnston, vice president of the
Marine National Bank Of Milwaukee.
spoke on the Scottish Banking System.
"Thc New South
Joseph 6. Brown. president Of the Citi-
gems National Bank, of Raleigh, y. c,
spoke elouuently on Tho New South.
de said in part:
There is no new South, except as there
is a new North or East or West. Ours
Is the same old South which in the carly
days of the republic gaye her sons for
freedom, and, in days of peace. gave
them to her country statesmen to aid
in building up for her the greatest and
best government the world has ever
known.
The South had practically nothing at
the close OF the war. The world looked
on in amazement at the ease with which
France met the installments of the enor-
nous penalties imposed by her victorious
foe at the close of the Franco-Gcrman
war The South. after enduring a war
four times as long. paid in one vast lump
sum penalty five times as large, the
money value of her slaves being that
much greater than the amount demanded
Of the French. No country ever rallied
from such desolation with such spirit and
ciSor as she displayed. result due not
more to her Astounding natural resources
han to the spirit and pluck of her sons
and daughters. Tried in the sevcrcst fur
mace. she has proved to the world mat
she is worthy of its confidence: that i'll
her. and her people, are to be found the
real clements of moral and material
wealth. Her wealth to-day equals that
Of the entire country in 1860. and prac-
;ically all OF this has been created since
he close of the civil war II took from
hat time until about 1880 to gather sufii-
Gent accommodations 10 serve as. Il basis
ST credit and OF active operations; to IN
epirc confidence and TO acquire prestige
sufficient to attract outside capital Now
our advantages are an open book and
read of all men. To-day the North is
sending 10 us. not only her money. but
htr sons. They are coming this way
looking for opportunities TO aid in our
Industrial development"
The South of 1860 strove TO defend what
she conceived to be her rights But the
,S ~; no
newed South realizes that it was a bless
ing in disguise that took away her de-
pendence ON the slave and the farm, and
gave her sclf-reliance and the diversified
Industries that blessing her people
with plenty and prosperity. The South
has learned that not only is the work OF
The free negro of greater value than that
Of the slave hut that freeing him has
freed the white man from the idea that
manual labor was for the negro alcnc.
and rich and poor alike are now training
their sons to work
Educational Awakening.
Another great factor in our upbuildinc
is the educational awakening among our
people. Long time we hung our heads in
shame and confessed our enormous per
centaEe of illiteracy, but to-day Southern
hands and Southern hearts and Northern
hands and Northern hearts are united in
their enc purpose and effort 10 educate all
the people, and more money is being spent
for that purpose than ever before in our
history The bright light Of education is
illuminating our Southern skies and every
passing day brings fuller acknowledge
ment of the genius of Southern manhood
in learning. IN the arts, in industrial and
commercial lines.
There is another matter which has been
misunderstood and perhaps ought not
10 be omitted. Another war is being
waged. Anothe" Declaration of Irdepcn-
dence has been proclaimed and is being
defended. 1t is the emancipation of the
white man. When the great Lincoln is
sued his proclamation OF freedom. the
world applauded The most intense South
cTner to-day rejoces that the neero's free
dom was accomplished. But scarcely any
well Informed person is found now who
does not recognize that ar c1regious mis-
take was made when through the ballot
.he balance Of political power was placed
IN The hands OF Il mass of ignorant peo-
pie. without the least conception of the
meaning Of government The South non.
ors The negro. We can never forget the
loyal fidelity with which he stood by the
Old home AID by tie women and children
when the husbands and fathers and sons
were gone 10 The war
Longing for freedom, and knowing tn.
meaning Of the battle that was raging.
he never failed ia his devotion to the
y n y