The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28

T..
the Economist and Investigator in his
efforts to facilitate rather than fetter the
ever charging volume of both internal
and external exchanges, confesses an un-
| satisfactory solution of this alEimportant
question.
For these reasons, and with scarcely an
hour at my command for uninterrupted
thought or investigation of the subject
assigned TO me, and lest too aptly you
might apply the aphorism Fools step
| in where Angels fear to tread" | shall
tender only the most superficial observa-
tions anent my theme, from our worthy
member from Gastonia
| The question of domestic collections and
exchanges domestic in contra distinction
to foreign, and upon which | take it
am expected to address this convention.
being one OF our principal and legitimate
sources of revenue, il one which appeals
To our Southland banks for more than
passing thought A question which, in
| the Judgment of the writer, should be
taken UP by our North Carolina Bank
crs' Association with a determined and
untiring effort to place it as nearly as
possible upon uniform and paying basis
to its every membership.
| To do this. admit that, like all great
and important undertakings, there must
necessarily confront us many seemingly
intricate and difficult problems-provoked
| by local conditions and environments
peculiar to the many interested institu-
tons But which nevertheless have a
feasible solution IN the harmonious CO.
work Of the separate parts different
banking towns) until blended into an
equitable and powerful whole
"A place to rest our fucrum and we
can move the earth" Our North Caro-
lima Bankers Association can, / believe,
through its stamp of approval, create any
further desired methods, and by its mani
fest disapproyal, disintegrate and rele-
gate to ''innocuous desuetude" Ga la Cleve-
land) undignfied and unworthy ones.
The fact that among all the advanced
civilizations, there is distinct con.
seriousness of the inadequacy and Unequal
ity in the methods and mechanisms OF
banking systems, should be an additional
incentive TO our association to undertake
the task of rendering nearer perfect, this
feature of collections and exchange, at
least in our own good old State.
I feel sure that statistical investiga-
ton would reveal the fact that fully one
half if not three-fourths of the items
drawn on and through our North Carolina
banks, are collected and credited through
, reciprocal relations at par, and where
such is not the case, there is either no
competing bank, or they are protected by
local agreement or combine of the several
banks in that particular locality. Or, the
larger banks centrally located, are used
as distributing points for these collections,
and many of the smaller banks at point
of destination, are forced to collect and
credit these items without the legitimate
remuneration to which they are entitled.
Again, lack of uniformity OF rates. is
condition which might be improved
whenever basis for action is agreed upon
From the limited data which / have
been able to gather these rates now vary
from one twentieth, to ne-half of one per
cent.-the former under forced condi-
tions. the latter under monopoly.
The rates for Northern exchange vary
likewise, except in some localities they
reach zero.
The situation appeals to us as states
men. as economists, as bankers, as intelli
gent citizens at large, for candid and
, thorough research into every profitable
avenue of progression.
The establishment Of clearing house
bank would possibly obviate to a greater
extent than any other plan yet suggest
ed to the mind of the writer, the OBJ
stacles and barriers which must be sur
mounted in the maturer consideration of
my subject
Such bank to receive at fixed. profit
able and divisible rate, all the items com
ing into our State for collection and
transmitting them directly to destina-
ton. equally prorating with final col
lecting banks.
WIZ could not such bank be viewed
as an investment. apart from its great
convenience, by having ITS stock sub
scribed for exclusively by our own banks
| in the State, upon a pro rata basis? If
this suggestion is counter to any feature
Of the National banking laws, His
Satanic Majesty can be made to round
the stump" as is often done, when the
occasion requires.
Should this brief and superficial adj
| dress-conspicuous for its absence of both
statistics and detaiI-accomplish nothing
more than contra suggestions, and inter-
4
ceived most gratifying and satisfactory
tribute
Second was made by Mr.. l.. L. Jenkins,
president First National Bank of Gastonia.
/ I'VE regret that we were unable to Sc
cure the speech of Mr.. Jenkins for publ-
ation.-Editor.l
/ "A SOUTHERN DEPOSITARY."
| One OF the best papers read during the
convention of the association, and one
| that treated of a subject in which all
bankers are interested, was that read at
the morning session Thursday by Mr.. Sam
| T. Peace, secretary and treasurer of the
| Oxford Savings and Trust Company, OF
| Oxford, n. c., upon the subject, "A South
ern Depository The question has been
discussed at previous sessions of the as
ISOLATION, but no action had been taken
until this year. AT the afternoon session
OF the convention following the reading
OF his paper, Mr., Peace made motion
/ that S. t. Peace, secretary and treasurer
OF the Oxford Savings and Trust Com
| pany c. ]. Cooper, cashier of the Ma