The Montgomery advertiser., 1905-05-27

Mobile, May 26.--(special )-Follow- ing is the speech in full of Hon. Harvie Jordan of Monticello. Ga. President of the Southern Cotton Growers Associa- ton, to the Alabama Bankers Asso- citation in Mobile this afternoon:
 MT. President and gentlemen of the
 I deeply appreciate the courtesy which you have extended me to deliv- CT an address before your Annual Con- ness Relations Between Farmers and Bankers" There Is no subject of greater importance to the banking in- terests of our country and to the gem as we remain largely an agricultural section and look principally to the de- velopment of our wealth from that source. just so long must the Banks of indirectly, upon the efforts and suc- cess of our farmers for the prosperity of their institutions, The nearer the farmers come into close business rela- tions with the bankers. learning the great value to themselves of becoming depositors as well as borrowers the sooner will come. that ideal system of business transactions which will make the farmer respected man among men in the commercial activities of life. While my life has been spent culture. have not lost sight of the fact that the farmers to succeed must cultivate close business relations with deal. as we'll as to cultivate their lands. I first took up the subject al- loted me on this occasion five years before the Annual aoS snna great progress has been made in my State along that line. Carefully pre- pared statistics taken few months of the few larger cities, every three dollars out of four on deposit in banks in Georgia are there to the credit of Georgia farmers. This statement may thought, but the actual facts bear me out in the assertion made. There are two highly important facts to be de- The first shows that our farmers are rapidly learning to appreciate the val ue of depositinB, their money and that the local banks in the es the farming classes. The second fact indicates that our local bankers have learned to appreciate the value of the trade relations and that the bankers have for the past few years actively solicited the deposits of the farmers. our local banks are largely made up of men actually engaged in agrieul- ture.
 
 Georgia since 1900. submit the fol- lowing statistics: In 1900 we had 140 State banks: in 1901 there was an in fbe yeap sSa abere was on nineteen new banks; in 1903 an in crease of thirty-five banks;, and In 1904 an increase of thirty-nine new hundred and twenty new State Banks in Georgia, or an increase Of nearly one hundred per cent for the four |. A,w1E< HxsrVa aA.rnA n s1 sixty State Banks. and a number. of applications in the office of the Sec retary of State for. charters for newly formed banks not s1., counted n in the ne my State but what has from one to three banks and each year these local banks are growing mere essenIial @ to fficultarai fhs nsrdT of interests. @ Fhe banking capital of our State Banks in Georgia has largely increased since 1901, and now am1uts tG So,,op eSdit,on oSdT to this we have lifty-three National Banks with a capital of nearly. eight million dollars. making a grand total ,n.sl of capital. and aggregated individual deposits amounting to fifty million dollars. I do not believe that any sSonng baa saa5' Ss Sfa dnrns the psst four years, and the splendid success of our local banks Is largely due to the patronage and endorsement given to them by the farmers of the State.
 Hest Medium of Exchange.
 The bank check l regard as the fin est medium of exchange In the world. banks and then paid their obligations in checks, trade could be carried on quite extensively without the circula- ton of SsPE sScount S wS onS five dollars and gradually increase this as savings are multiplied in small amounts. The farmer who enjoys the distinction and good feeling which al- ways accompanies the possession of bank account Is a man who feels him self lifted, to a certain extent in the CTS who are still tied to the credit de- partment of the supply merchants.
 The fact that farmers have, during the past few years. adopted closer has produced greater incentive on the part of the bankers to assist the farmers in their financial needs. This cotton growers to hold their .cottol this winter and prevented the decline of the staple to five cents per pound In behalf of Southern cotton produeeptt IF this occasion to extend our thanks 70 the Southern bankers for their loyalty to our cause. Not only in that in- have contributed eight thousand doll ars to the funds of the Southern Cot ton Association. to enable It to per feet the machinery of its organization movement 1t has undertaken. The bankers of your State have contripu- ted literally to the fund. and in be- ton ton I beg to convey to you its high appreciation of your generous aid and corporation. The interests of our Each n is largely dependent upon the other. and the nearer they come into closer business relations, the better for both and the general good Of the "'A' Must Help Bankers.
 For many years some of our agri- cultural leaders taught antagonism be- glad to know that this fallacy is be- ing rapidly relegated to the narrow things of the past. Bankers must have help from theiS customers nabi Tn ra,as tns of interest on borrowed money are to be granted the borrower Bankers de- pend upon their depositors money In making loans to secure profits on their business and to build up strong and healthy institution. The capital stock of A bank would soon be exhausted Tn making loans, and the interest accru- pended upon to meet the actual and necessary operating expenses or the business The man who keeps no de- posit at a bank can hardly hope to be treated as Iiberally as the bank depos- tttor. G This is one of the principal req bsbIt of charging farmers a higher rate of interest than their regular merchant customers who carry de- posit account the year round. In Tex as found the bank rate of interest on loans to farmers very high, IT
 some instances from 20 to 22 per cent Upon Inquiry as to the cause; several loaned a farmer S5OO.OO on good se- curity the borrower would keep the