The Montgomery advertiser., 1904-05-13

bank rODperlen us WEI dn " sAAD @F II prehension of the culprits as such att tacks are made. This committee pro- vides each member with metal sign to be hung on its paying tellers win- dow, showing, that the owner is 2 mem Der of the American Bankers ,Associa- tion, the Idea being that the bank dis playing this evidence of membership will not be moiested, as 1t is known to all professional crooks that tho best detective talent is employed by the association for the apprehension of all depredators. free of any expense to the institution suffering loss and that no expense is spared to convict. Reports show that from sentember 15th, 1902. to September 18th. 1sos. sixteen members of the association were robbed and eleven unsuccessful- ly attacked, the total iossl being S4g,- 420.2s, which favorably compares with losses reported by non-membere of sis7.s1i.2s. during the same period. Fifty -seven non members were actu- ally robbed and forty-one attacked without success. All attacks upon members were exhaustively investi- gated thirty-three bank robbers im- plicated being arrested. of whom twen- ty-six were sentenced for varying terms. Apprehepdfnx CrimtnaIss
 ''The operations of forgers upon members numbered 145. Of these e6 were apprehended. the majority being convicted.
 The association expended during the year 1s02-3 in the employment of the Pinkertons more than s3o.ooo, the to- tai expenditure in experimenting orim- inals being over S3S,000.
 | Another interesting, report to the | San Francisco convention was that made by our fellow Southerner--Hon. Robert J. Lowry of Atlanta. as chair man of the Committee on Education. | whose labors were largely directed to | the American Institute of Bank Clerks. As shown in the report the experi- mental period of Che institution had been succeeded by period of success- ful specialization. The efforts of this branch are directed entirely to edu- cation and its good work is being felt In Montgomery as well as throughout the entire country. A regular bulletin Is published and periodically distrih' uted and serves as literary clearing house of institute work. and the fact that although in It's Infancy 1t has more than 5000 subscribers Is conciu- sive evidence of its utility as an in. J strument of education. The American association yearly spends an average of slo,eoo in this field of good.
 '"rhe Committee on Uniform Laws | as its title indicates, has for It's work the enactment of uniform laws by all the States: The negotiable instruments law being the principal undertakina of the committee. This act. In the form of Q short code, although thirty. sky pages in length has remained iH its present wording for six years. only one or two unimportant changes hav- ing been made in 1t. and the report of the committee showed that 1t had been adopted by twenty-three States In that time, while the act for the adoption of a uniform law for weights and measures. which should have met lwith no opposition, had been enacted by only four States in ten years.
 "The report of the Currency Com mittee composed of such men ae Charles 5. Fairchild, H. c. Fahnestoclx Mvron T. Herriek, Homer s. King, J. J. Mitchell and Geo. c. Whitney dealt lwith the most important measure he- fore the convention; important be- cause it affects and should interest all sections of the repuhlic--for a lifebiood of q naticn's commerce and prosperity.
 sub-Treasury System.
 The report of this committee show ed that there was no scarcity of mon ey for the actual needs of business there being in circulation more req money than ever before in the history of our country. The National Bank Cir culation alone having increased In thu
 year S52,S27,550. while the per capit'
 of circulation had increased iron
 $28. 55 on September 1st, 1909, to S29.el |. on the same date in 1903.
 'aTha nost sarioua mad af rafarn as shown by the recommendations O
 the committee concerned the sub
 treasury system: a change being aug
 gested that money withdrawn for GUS
 toms duties and internal revenues shal be deposited in banks and be thu made available in communities iron which withdrawn. The inahguratiol of this reform could he made feasibl by. authorizing the Secretary of th Treasury to permit deposits of GUS
 toms receipts and internal revenue re , ceipts to the extent of 50 per cent. O the capital and surplus of nationa banks guaranteed by securities ac z ceptable to him.
 Regarding the question of circuln ? ton the most important requirement
 seemed to be the repeal of the pres ent limitation of three millions pc
 month upon the withdrawal of circu lation, thus causing an automatic ex pansion and contraction of the cur rency. An emergency circulation within careful Limitations, was recon
 mended upon the actual deposit of secu rites acceptable to the Secretary of tn
 Treasury; a tax of 6 per cent. per an
 mum to be imposed upon all sucl
 emergency circulation to insure it's speed.
 retirement by the issuing bank when n,
 longer required. This tax to be set asid,
 as a safety fund to secure the govern
 ment for the redemption of notes so is
 sued. It was further recommended tha
 this emergency circulation should be is
 sued with no distinguishing mark from
 the other National Bank currency of to-
 day except the words: Secured by
 bonds approved by the Secretary of the Treasury should be substituted for the
 words: Secured by bonds of the United
 States
 "The committee to further 1iberalize
 the circulation recommended that the
 United States tax on circulation should lsbe uniform on all issues of currency
 based on United States bonds. These | recommendations were made by the com.
 mittee and approved by the Executive
 Council which presented a resolution
 which was unanimously carried. that the
 report of the committee be adopted and
 the President of the Association appoint
 comittee of three for the purpose oi
 urging legislation along the lines sug' | gested therein. The committee closed its
 report as follows:
 "'Your committee cannot recommend
 any step that will tend towards a return
 to the miscellaneous circulation whicf