Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-10

orally. However. there has been a big fall
ing of In the writing of insurance policies
The delegates to the convention have
been given free use of the wires of the
Western Union and Postal Telegraph COM
panies and the long distance telephone for
the transmission of social and family mes
sages. The long-distance arrangement Will
prevail between the hours of 0 o'clock in
the morning and o'clock In the evening
Washingtonian as Founder.
Although awashingtonian was largely re-
sponsible for Its organization the American
Bankers Association. now In the thirty
first year of Its existence, never before met
within the limits of the District of Column
bia. When President Swinney calls the
convention of bankers to order tomorrow
he will look out on an assemblage repre-
senting an aggregate business wealth or
over $11,OO0, 0,000, a far greater and far
more important body Of men than that
which assembled in New York in 1915 for
the first business session of the association.
To James T. Howenstein of washington -
accorded the credit of founding the asso-
ciation. He was chosen its first secretary.
Mr.. Hall Of Boston was the first president.
The first convention was held at Saratoga,
N. Y. The questions of chiefest interest
at the time were the taxation of banking
capital and deposits and the usury laws.
Overs hadowing these was the problem OF
the resumption of specie payments. In
1916 the convention was held at Philadel-
phia, where the centennial exposition was
in progress. In that convention the then
ex-Secretary of the Treasury, iAugh Nc
Culloch. delivered an address on the Fl
nancial Condition of the Country and Mr..
Coe. late president OF the American Ex-
change National Bank, discoursed on the
currency, all of which seems like a leaf
torn out of one OF the reports of recent
convention, so perennial seem these ques-
tons.
In the convention of 1877 held at New
York city, the discussion of the resumption
OF specie payments and the silver ques-
ton took up good deal of time
The convention of 1878 was held at Sara
toga. This meeting sgnalized by a
larger number OF addresses than that OF
any previous one. The familiar questions
of the alleged public preference for green
backs over bank notes and the prejudice
against banks received some attention after
the reading of two able papers on these
topics.
Resumption of Specie Payments.
At the convention of 1879, held at Sara
toga. the secretary was able to congratu-
late the delegates on the successful re-
sumption of specie payments. prominent
feature OF the meeting was an exhaustive
paper by the then controller of the cur
rency. John Jay Knox on the operations
OF the national banking system and the
currency question in general. In 1850 the
association again met a Saratoga In 1881
the meeting took place at Niagara Falls
returning to Saratoga in 1882. The variety
OF the topics which came under review
gradually widened, including the history
and operation of the banks of different states
ana the status of foreign banking The
currency question, of course came up in
all these meetings. At the convention of
1Se2 good deal of attention was given to
southern credit and Industrial progress.
In 1883 the convention was held at Louis
VINE: at which paper was read ON the an
col
valuable banking literature sienalized the
convention of 1884, which was held at Sara
toga Springs.
The Silver Question.
AT the convention of 1885 the main rea-
ture was discussion of the silver question
brought about by the introduction of a res
oiution demanding the suspension of the
coinage Of silver dollars, then going On
under the Bland-Allison act 1t Is OF In
terest to note that this resolution which
was adopted unanimously declared that
TINS coinage should be suspended until an
international agreement with leading CON
Lherciai nations shall give substantial as
surance as to the future relations Of ,,oId
ana silver money" -, :
In 1886 the association met at Boston. en-
o,isad occasion the noteworthy papers dis
cussed the financial situation that tonic
peihs treated by the controller OF tl,a chr
rency, Mr.. w l. Trenholm, branch hank
ing py Mr Hague. the well-known Cana
dian banker, and bills of Iadine &c ooIiat
eral for loans. The conyentfon Of Tse1 10 :.
neld at tfttsburg, and that following at
Cincinnati tts -
subsequent Conventions. g.. q.
In 1889 the convention was held IN ~
sas City. A large portion of the time was
taken up with a discussion of the policv Of
the government toward silver A nro,n,-
hent feature of the convention of 1870 ar
saratoga was an address by Prof James
Oh ochoois OF Finance and Economy
, ne next convention was held at New Or
Leans IN 1891, and Prof. Hadley of Yale
no" president of that institution road q
paper on railroad legislation. Al this meat-
ing the relationship between the American
ASSOCIATION and state bank asseciationa
was discussed
The convention of 1899 uas b.I5 -. ~,
cago, under circumstances of pravast IN,
port. Inc convention was to meet in An
eust' put on account of the panic did not
, take place until October. In the circular
letter announcing the postponement of the
convention signed by w n Rhawn nresi-
dent, and E. H. Pullen chairman Of tba
executive council, 1t was urged that ar i'm,
iieoiate ana unconditional repeal of the
sherman silver act was of the greatest
necessity and that the association shonI6
90 what 1t could to promote this end and
strengthen the hands of the President. who
for that purpose 80 -.'-.-.-f> 80
IN 1894 the convention was held at Rail
tlmore, under more favorable auspices
AT that convention resolution was adopt-
ed faVorlng a change in the banking sys-
tenn, now known as the Baltimore plan
Addresses were read on the influence of
the public press on finance and the re-
sponsibility of bankers to the general pub
Tic. The panic of the year before had left
indellble impressions, and the need of
spreading correct views of the true func-
lions of banks was felt more than ever.
Protective Committee.
One of the most important features OF
the association work. that of the protective
committee. was developed to a high state
of efficiency during this time The protec-
tive committee of the association was
formed for the purpose of protecting MEM
bers against losses from the work of pro-
fesslonal criminals. So well has this work
been carried on that 1t is now declared that
the little brass sign showing q bank to be
a member of the association gave the in
sutution greater protection than the most
delfcately constructed time locks and
safety vaults. The Importance of the or
ganiZation has steadily progressed up to
the present time.
The present membership of the assocIa-
ton Is 1850, while the annual dues now
amount TO $3.50, COO.
l. A form of cipher coda hoe haan