The St. Louis Republic., 1904-09-17
w. f. Schweppe of st. Louis Pro
poses Insurance Bonds as Pro
lection in business.
BANKERS CONVENTION OVER.
L. :. Register Roberts Suggests
International Clearing House
10 Do Away With Gold
Shipments.


RE-pCBi.T- SPECIAL
New York. S"ui. ia new system for
obtaining credits and q suggestion for the
! establishment ui AN international clear
| inE-huusc were interesting topics dis
casscd to-day at th" bankers convention
at the Waldorf-As;oTia
!|liis IL Roberts. Register OF the United
states Treasury, after review Of the
amount and movement Of the worlds
gold supply. spoke OF the shipping OF gold
back and forth across the Atlantic as a
great risk and costly because OF freight
charges and loss by abrasion.
hy should this treasure he carried
back and forth between nations as the
banks once delivered money TO each 9TH
er? ne askea. Surely II would be
| cheaper TO pay the balances than the
gross sums. as the clearing houses daily
'estiiy- Why cannot an international
clearinghouse be established
iNsURING CREDIT.
a new method In finance. the insurIng OF
d man credit. was presented to the con-
vention by ". L. Schweppe, manager o.
The bankers department OF ;he American
Credit Indemnity Company OF st. Louis
lie pointed oIt how this system Was re-
sponsible for the creation Of panics and
then he outlined his panacea. the credit
oonn. If mar has his credit insured the
banker is likely To call in d loan. as the
indemnity company. which has insured
ms credit. represents millions OF collater-
Al Mr. Schweppe said the time would
come when policies of credit indemnity
would De as necessary protection ia
business as fre-insurance policies
In part. Mr.. Schweppe said: 'sThe hold.
ing oI a bond BY your customer and your
knowledge Of his conforming TO its terms
shouId give 10 MIN your confidence il
pIdc-s dennite value upon his outstand-
ing accounts and increases their yaiu. lust
as a substantial Endorsement enhances the
worth 3i commercial paper. IL guarantees
10 you MS conservative methods
1t confirms the fact that safety and
certainty in business transactions are pre-
ferable to hazard and uncertainty. and
upon this principle credit indemnity L. con-
structed and stands.
1T encourages such care and conserya-
tism AS is consistent with legitimate blIsi-
ness activity and healthfuI commercial
progress.
upon a given amount Of business that un-
der proper conditions cannot be exceeded
ana can be calculated in the expenses
with the same reliability as rem; or any
other fixed charge. and all OF these will
insure 10 him system In his business
,hat Will guarantee stability
NEGRO is GREETED.
ScAaA -sAAtGh-i. SI-. Ol me Nc
chanics' Savings Bank of Richmond, Va,
the only negro delegate attending the con-
vention. talked on the hopes and progress
OF his race. He was received with en-
thusiasrn. and his brief remarks proved
TO be one or the memorable features Of
the convention.
Inc white man said TO the negro" he
said. leave politics and 20 into business.
and we have. and are nov knocking at
the door Of finance and only time stands
In the way OF our reaching the pinnacle
OF success"
Mr.. Mitchell declared that no co.cr In.
vas drawn between the better class of the
whites and the better class Of blacks
II Is the black loafeTs in the South thai
cause the troubles and persecution OF our
race. and we despise them as well as the
whites do he concluded.
Colonel LoTrey. president OF the Ma
tional Bank OF Atlanta. replied TO AZ
Mitchell. He said: There Is no trouble
between nv race and his race In Georgia.
Both the loafing white men and the loaf
ing black men are desplsed in my State
1 am glad Mr.. Mitchell has spoken and
given il on record that the Bankers A@so-
successful bankers. be they white or black.
as meInb-rs.''
After the convention adjourned Mr c.
8. V'hitson OF the National City Bank was
elected chairman OF the Executive Council:
James r Branch was chosen secretary for
the tenth consecutive term. and Ralph
Won Vechten OF Cedar Rapids. Ia. was
selected treasurer.
When the theaters closed tonight the
delegates and their wives began TO depart
for their homes