Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-10-14
OFFICERS OF The BANKERS
John L. Hamilton Of HOOpeStOwn, Illinois
Elected President,
ALus WOULD INSURE BANK DEPOSITS
Says Annual Assessment of one Hun
dred Dollars on National Banks
would Have Paid All Losses
and Left surplus.

hEAA
WASHINGTON. Oct 13-The thirty-hrst /
annual convention of the Bankers associa-
tion ended tonight with the record OF 1
having been the largest attended and the |
most successful from business standpoint |
in the history of the association. The |
registration Of arriving members continued |
until today. when 34OO was reached The |
business Of the session today was executed |
with dispatch. 1t included a brief dis |
cussion of the advantages Of having some |
system of insurance extended to de- |
positors in banks, preferably supervised by |
the government, an address in advocacy |
of ship subsidy by the government and
the election OF officers, at which John
Hamilton of Hoopeston, ILL.,, was made
president
At the conclusion of the convention the
newly elected executive council held
meeting for organization.
Many bankers left for their homes dur
ing the afternoon Those who remained oc-
! cupied themselves in completing their in
spection of Washington. In the evening a
reception was rendered the visiting bank
ers by the local association at the new
Willard hotel.
Would Insure Deposits.
! At today's session discussion of practical
/ banking questions was opened by c. F.
Alls of the Second National bank of Erie,
1 Pa, who advocated a system of insurance
| for national bank deposits. He said that
an annual assessment of s1OO paid by ma
! tional banks would have paid all losses to
! depositors from bank failures In the last
five years, besides leaving a surplus of
$27,OOO 900, and that an annual assessment
of $225 for the last forty years would have
paid all special losses during that period.
| Mr.. Allis said the fact must be recognized
that there is an underlying current OF
mistrust of banks pervading every COM
munity. This is augmented by the weekly
report of bank failures. Mr.. Allis indi-
Gated that the best way was to have the
| government supervise the insurance.
| The discussion was continued by other
members. One believed a surety company
should do the insuring.
It was maintained by Mr.. Campbell OF
Indiana that congress had no power TO
guarantee or protect an individual.
Mr.. Robinson of the First National bank
Of Winfield. Kan. believed that strict
observation of the national bank act would
obviate many failures. He limited that in
many instances loans were made in excess
! of legal restrictions.
The discussion ended without action by
the convention.
Harvey d. Gouder of Cleveland then
spoke on our Commerce"
Address by II. ID. GOuIder.
TRANSPORTATION, it's availability on equal
terms to every one, its extension by every
legitimate means, is one of the great ques-
: lions. 1t would be idle to raise wheat or
copper. raise cattle or bring forth any of
, the products Of the forest, the farm or
the factory without that exchange hsot., which ch
transportation. We in the Great Lakes
: region boast cheapest transportation in
ships which bear comparison with any In
the world, with credit of being the finest
working fleet af1oat, and this beyond fair
argument has come through direct govern
r ment support of the coasting laws and
[ money to so improve our channels that a
modern freighter carries in a trip what Its
I prototype carried in an eight months sea
son of navigation. But transportation, com,
merce, interCommunication. colloCatton OF
[ business have made II so that there can be
no partial local thrift. While we do these
, things on the lakes, the south produces and
. manufactures from cotton; timber grows
s throughout the country; wheat in the north
/ west Is matched by corn in the southwest
r manufactures extend through the land; oui
: interests so intermngle that even the ques
ton of tariff may hardly in any sense now
$ be local in effect. Our railroads. hauling
n freight at less than half the cost of any
r other country, are improving their service
by reducing grades and so far as possible
taking out the crookedness of the tracks
and the American people are going forward
] in determined spirit with President Roose
welt and the congress TO remove so tar AZ
. possible any other crookedness.
Need of Merchant Marine.
We have pacified Cuba; Secretary Tar
believes that the Philippines must be
charge for generation; we are starting 4
6Tswn into vine the OF one aS of th
n honor and glory upon the nation. We hav
|, come to be truly great nation, ready
le in the world markets, but deserving an,
10 requiring from purely economic stand
point an eeent system Se oT we deSeghg rs9a6 9s 5
r pendent on rivals I'm trade to carry ou
world competitiye goods goods th abroad for intro
is testimony of business men all over tn
90 United States is that this is poor trad
SoRRed SReddo tSe foreign ed Because %AT Of
"a liable and unsatisfactory service and dis
couragement OF American goods.
'n That satisfactory service will, OF ca
come without SO some form & OF S government rents sic
80 fairness. We abJectly dependent o
foreign rivals In trade, that our flag ha
I'd almost. disappeared and is disappearin
ed from the ocean. Only through apathy
= our people, unmatched and not rivaled
ne world history nourished and luled int
Mt soft acquiescence by specious argument
he our opponents in the shipping interest, ca
a. It be that, wher the United States sha
!" have spent possible 500 COO for a con
IT. merciai canal at the isthmus, our flag sha
ol go through that canal only on an occasions
man-Of-War, or mllfOnalre yaCnt.
u" The price OF a single battleship for u
u navy would more than meet the expeni
of a thorough experiment in the r.
ha habilitation OF our foreign merchant marin,
iie and compared with the expense which v
M are approving in connection with a
rs Philippines. for our navy and army esta
hshments and in the building of the Wor
canal, the cost of thorough test might
re described as drop in the bucket"
a, Omcers Are Elected.
The following were elected officers OF Il
American Bankers association: Presider
N John L. Hamilton. vice president Hamilt,
N & Cunningham, Hoopestown, ILL.,; FIRST vi
president. G. S. Whitson. vice preside
nj National City bank, New York City. Mer
bers of the executive council for a term
three years; George NJ. Reynolds, vi
president Continental National bank, CT
= cago; Milton E. Allies, vice president Rig
National Washington, d. C.;eJ. L. e
wards, president Merchants National ban
a. Burlington, Ia; II. b. Wilcox. cashier Fir
- National bank, Baltimore. Nd; ]. J. Sui
~ van, president Central National ban