The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-06-20
VA. BANKERS
in SESSION.
Resolutions on the Inter
change of Currency.
MIR. ALLIES is PROPHETIC
The Torrens System is Endorsed
George n. Smeltz is Elected Pres
ident--The Bankers Go TO
Natural Bridge.
fsnsc,nl TO The rlmes.plspntch. )


LYNCHBURG, VA. June 19.-At the
second days session OF the Bankers As
ISOLATION TODAY. a letter was read from
Mr.. II. A. williams, of Richmend, ten
dering his resignation as treasurer of
the association. Mr.. Williams congratu-
lated tho associa,tion upon Its gratifying
growth, due In great measure to the earn
est efforts of the secretary, Mr.. N. z.
Calling. He also paid graceful ac-
acknowledgement to tho hospitality OF
IIynchburg.
Tho president hero stated that Mr.. Will
linms had served the association as treas
urer for n number of years with great
credit and honor. and he regretted he
was not a candidate for reelection.
The president then introduced Mr.. Geo.
]. seay, cashier OF the Petersburg Saw
president OF the association, who was
greeted with applause, and who spoke at
some length upon tho Aldiich and Fowler
bills, which are tho most prominent
measures for the reform OF tho currency
and banking systems now before the
CURRENCY QUESTION.
At tho close Of Mr.. Seays address he
offered resolutions, the aim and object
OF which was to make all forms OF cur
rency interchangeable With gold, recom-
mending that proper laws be promptly
violate, that tho treasurer Of the United
States DO authorized to exchange gold
for legal tender silver dollars when pre-
scented to the treasury; that the coming
OF one and q half million silver dollars
per month by law be stopped, and that
tho silver dollars in tho treasury should
be recoined into subsidiary coin.
This provoked considerable discussion,
which was, however, settled by a resolu-
ton that tho seay resolution should be
referred to a committee to have printed
and copies be sent to the members of tho
association who should then vote on the
question, sending their votes by mall to
the committee who shall act as the ma
800 a PROPHECY.
During an interval in the discussion Of
Mr.. Scsy's resolution the president intro
duced to the association ex-Assistant Sec
rotary of the Treasury Milton II Allies.
Of washington, D. D.. who, after express
ing his pleasure at being present, said,
II have strong convictions on the sub
iect of this resolution. / feel that some
how or some way. 1t may BIO long and
trying and cover period of years; the
day will come whom over banker In the
country will respond to the provisions or
this resolution. 1t may be 1t Will take
as many years as 1t did to settle the
money standard, but believe 1t vii! be
settled as rightly as that was settled.
MI, Allies then told the associa ton Of
tho regrets OF Hon. Lyman Gage that he
could not be present at the convention,
being detained by illness, and closed by
saying gE"I am very glad to have been
among you. and will always treasure in
my memory the acquaintance nave
made while here"
Several short speeches were also made
by visitors, after which Hon. Eugene
Massle, Of Richmond, read n most care
fully prepared paper on the Iorrens
systom Of Land Registration" which was
heartily applauded and resulted In a re-
solution boing passed urging the Legisla-
| ture to act favornbly in regard to the
| adoption Of the Torrens System IN VIZ
| ginia.
lettor from Mr.. George A, schmelE,
Of Hampton, recommending that some
| city in the State be named as q par point
| for all exchange, WAS read and retcrred
! to the executive committee.
The committee on nominations re-