The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1904-06-18
ABLE ADDRESS DELIVERED AT
BANKERS MEETING BY EX
GOVERNOR MOORE TODAY.
He Made Many Valuable Suggestions
and Pointed Out What Laws
Are Needed.

At the bankers convention today eX-
address upon the subject of Needed
Legislation" 1t was one of the most
interesting and able papers that was
read during the session and was re-
ceived with great enthusiasm by the
delegates. The address follows:
The inimitable Charles Lamb in one
cies according to the best theory |
can form of it. is composed of two
distinct races, the men who borrow
and the men who lend. All the dwell
lers upon the earth do naturally fall
in one OF the other of these primary
distinctions"
The superiority Of the borrowers"
which ne desiguates the greater race
lis discernibIe in their figure, port and
a certain instructive sovereignty"
The lenders are born degraded,
He shalt serve his brethern." 1t is to
this despised class that we, my fellow
bankers. belong. That we may serve
our brethren capably, and acceptably,
il behooVes us to make d careful study
of all financial problems, of laws of
trade. Of currents of commerce, of
financial legislation, and of all things
that make for sound banking, and
constitute the banker, the solid founda-
ton stone of the whole commercial ia
brio. His responsibility is great, for
is he not the trustee of the commune
ty which his bank serves? Not only
his patrons. but his fellow bankers as
well, are interested in knowing ihat
his habits are good. his knowledge
considerable, his methods sound and
that his character is above suspicion.
When a banker fails or an official or
employe goes wrong, the disgrace and
disturbances are felt by all the cult
There is therefore little charity for any
of those who wander from the
straight and narrow way" Each
banker is interested in preserving high
standards. and in everything that con-
serves sound methods, to the end that
banks may enjoy. and deserve the con-
tidence of their patrons.
The bank should not be looked upon
as "a temple of usury." but rather as
useful and Indispensable cog in the
therefore that tends to strengthen and
perfect the banking system is a sub
jet of deepest interest and proper
one for consideration. Among safe
guards, appropriate legislation occupies
a place.
In attempting to decide what is
needed legislation" the first step is
to inform ourselves regarding existing
law. The National Bank Act while
characterized by some financial writ
ers as crude and unscientitic. is gener-
ally. and l think correctly. regarded as
very complete and comprehensive
code Of banking law. 1t has for more
than forty years given the country a
stable currency, and it has during all
that period enabled banks Incorporate
ed under it to exercise satisfactorily
banking functions. They have met the
requirements and Withstood the vicis-
STUDIES of many trying periods, with
tolerabie success. One of the strong
est features of the act is that re-
Quiring publicity, the fad of the pres
ent day. The public can know
whether the capital stock of a national
bank is paid up, and whether in tangi-
bile property. Statements of condition
aye required to be published from
time 10 time and frequent unan-
nounred examinations are made b,
competent examiners. All the sare.
guards that legislative enactment car
throw around the depositor are sun
Piled. No amount of legislation cal
furnish wisdom to n brainless mana
ger or instn honesty into the hear
Of rascal. but wise laws. and carafu
7''N q iAitlcI4t'tl supervision can. and IN
doubtedly do. exert a healthful an,
conservative influence on bank man
agement. Comptroller Ridglev, in a 70
cent address before the American So
clety of Political Science. at its eight
annual meeting held at Philadelnbis
showed by carefully prepared table,
covering period extending from 1ss
10 1896 that, compared with all other.
the percentage of failures was dacid
edly smaller in banks conducted unse
government supervision. Comnlat
however as is the National Bank Az
II Is not perfect; it has not grown wit
'he growth of commerce and has y,
Kept step with improvements in 9th.