Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-03-26
BANQUET OF BANKERS.
F'inanciers Gather at the Ar
lington Hotel.
Mr.. SHAW'S ADDRESS
MR.. JUSTICE HARLAN PUTS
HEARERS IN HAPPY HUMoR.
Banks and Banking, Finance and Cur
rency and District Tax Money
Discussed.

Nearly one hundred Of the leading finan-
ciers of the District of Columbia. together
with score of specially invited guests,
gathered in the banquet hall of the Airing
ton Hotel last right to attend the first an
nual banquet of the Washington Bankers
Association. After an elaborate repast had
been served, questions of banks and bank
ing, finance and currency and the placing
of the tax money of the District of Column
bia in the local national repositories were
discussed in more or less informal
manner.
President Charles J. Bell Of the American
Security and Trust Company occupied the
head of the table as POSTMASTER for the
occasion. At his right was seated Secre-
tary Shaw of the treasury and at his left
sat Associate Justice Harlan of the Su-
preme Court OF the United States. Others
at the head table were Senator Aldrich of
Rhode Island, Representative Charles N.
Fowler of New Jersey, Assistant. Secre-
taries of the Treasury r. b. Armstrong
H. A. Taylor and Charles H. Keep, United
States Treasurer Ellis H. Roberts, District
Commissioners Mcfarland, West and Bid
die and Thomas F. Kane, deputy controller
of the currency. eH
Secretary Shaw was introduced as the
first speaker OF the evening. Mr., Shaw said
that he had made 1t one of the conditions
of his acceptance of the invitation to the
banquet that he would not be called upon
for speech; in fact, ne had promised ia a
newspaper reporter that If he did talk
he would say nothing new. and, as matter
of fact. he had been told bv the newspaper
reporters the day after he made his speech
on ..Our Merchant Marine" at the Phila-
delphia bankers recent dinner that he was
mot up on his subject"
Like Kentucky Whisky
IF he
country as being like Kentucky whisky,
some brands are better than others. but
all brands are good" After expressing the
wish that the silver certificates OF the
Treasury Department could be made on a
par with gold Mr. Shaw said:
II know of no way to keep mans note
at par except for him to show the color OF
his money. l do not know how to maintain
the parity of all forms of money except by
letting the other fellow know he can nave
gold at any time.
Applause greeted Mr.. Shaw's allusion to
former Secretary Carlisle, of whom he said:
Carlisle said he would bond the govern
ment to its utmost capacity and redeem the
greenbacks to the last cent"
Mr.. Shaw said that he did not ask for an
elastic dollar, but that an elastic volume
would abundantly satisfy him. mo bank
err" said the Secretary, will use. his last
dollar of reserve to buy bonds. When the
bank reserve is exhausted, he gathers up
every dollar of the circulation and turns it
in to swell the reserve"
In illustrating the desirability of an elias
tic currency he said that if freight cars
could be reissued as cheaply as bank notes
railroad companies would burn their cars
In the spring, and reissue in the fall. He
added: There ought to be some plan de-
vised by which, automatically, circulation
not actually needed during the summer
would be retired and then reissued in re-
Spouse to the annual demands for more
i-,f Iaa nntytnc
Salary First Thought.
Secretary Shaw was followed by Mr.. JUS
tice Harlan. who put his listeners in
happy humor by statement that the
greatest interest he took in the finances
of the country was the regularity with
which his salary reached him as each Pc
riod rolled around. why should l talk to
you men Of finance about banks and bank
mgr asked Justice Harlan. After lis
tening to the Secretary of the Treasury !
really think l know less now than / knew
before. l do know that at one time in my
life l was greatly concerned as to whether
the hotel keeper would take at it's face
value the western bank note l rendered
him. Now l know that IL 1 start from
Washington, D. c., with pocketful OF
bank notes and pull one out In a hotel in
Washington state 1t is good for its face.
Anybody who wants to upset that scheme
well, I'm against him."
Justice Harlan praised the men behind
the banks for their support of the nation
in it's time of need. '1n the Mexican war;"
he said, lit was the bankers who made 1t
possible for us to raise the money and the
men needed to carry on the war. There is
no combination among those men to fleece
the country; in time of need they step for
ward and hand 1t over.
They say sometimes l am wrong in my
judicial decisions, but / will stand on this:
All honor is due to our banking institu-
tons" -
Commissioner mcfarland.
President Bell, In introducing Commits
siOner Macfarland as the next speaker,
told how he and others had gone to Presi-
dent Mckinley to recommend man for
Commissioner, and /. Mr. Mckinley had
asked them how Mr.. Macfarland would do,
saying that no one had suggested Mr. Mac
farland, but the thought Of him had Just
flashed in his mind. Mr. Bell said he and
his associates had not thought OF Mr. Mac
farland in that connection ebut that they
cordially approved the c.-u.ce. 1nereupon
the President sent for Mr. Macfarfand who
at first declined. but finally consented TO
consider, and Mr.. Mckinley asked Mr.. Bell
and the others to see that Mr. Mcfarland
accepted. --r. Bell said he and others urged
this on Mr. Macfariand, VINO finally yielded,
and that while all in the whole community
did not know him then. they Knew him now
and honor him for what he has done for
the District. Mr.. Bell referred to the fact
that last year President Roosevelt without
Mr.. Macfarland, reappointed MIN
two months before his term expired, and
that once more, upon the appeal of the clti-
zens. Mr.. Masfarland had consented to
serve.
After congratulating the members because
their association had not been dissolved by
Justice Harlan's merger decision, and ex-
pressing the hope that the association would
have long life ano prosperity, because Ii
was valuable to the community as well az
the bankers. Mr.. Macfdrlend said:
Z We recognize the fact that you are
among the leaders In our business life that
banks are essential to the general prosper
ity. and that good feeling and harmony o.
action promote the general good. 1t was
such unity combined with the conservatisr
and ability for which you are known al Il
over the country thar carried us through