The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-10-11

eminently fitting that the banlasrs' con-
vention should pause in its deliberations
to express its appreciation of the mag
nificent work Of President Roosevelt in
the interest Of ~eace. The resolution
extends the thanks of the association to
the president for his untiring efforts 'in
the interest of humanity and civilization
which were so abundantly crowned with
success in the treaty of peace of Ports
mouth has restored tranquility to Russia
and Japan and has made for the great
er civilization and betterment of man
kind"
The resolution was seconded by MI
Jennings of Florida,a relative of William
j. Bryan, whose words moved the hearty
applause o. the convention.
I'VE love peace he said. and we
love the president ] would not feel
satisfied to remain silent and hear words
of patriotism that thrill all Americans
without rising here oseconGI this resolu-
tion and move for its unanimous adop-
ton
President Swinney remarked that il
would be more appropriate to take
rising vote. The resolution was unan-
ilnOusly adopted.
Leslie M Shas. secretary of the
treasury, was introduced for an address
just as the convention regained its com
posure from the peace incident.
4 ROusing Reception.
Secretary Shaw was forced to aczno7vl- /
edge rousing reception at the conclus-
ION of his remarks
The report of the standing protective
committee disclosed the expenditure for
the year ending September 1 of S25.S7I,
to the Pinkerton detective agency. and
the arrest os GO persons. The report
asks the cooperation Of the members /
in an endeavor to secure an amendnent
to the penal code of each state provid-
inE for the more severe punishment Of
the ''yegg' burglar. as the report states,
this class O. criminal is the seVerest
menace to the members Of the assOcia-
tion distant from the cenIers of popula-
tion.
The committee recommends the adop-
tiOn of the amendment to the constftu-
tion prohibiting the compromising of a
crime either by the committee or a plem-
her of the association.
The report of the executive commit
tee was partly received by the conven-
ton, but its reading was suspended i'm
order that Frank A. NanderliD might
address the convention.
Bidgely Speaks.
W. B. Ridgely. comptroller of the
currency followed Mr.. Nanderlip. He
said in part:
IT am firmly convinced that no sys-
TEN of bank examination or supervi-
sion from the outside of the bank can
absolutely prevent fraudulent bank
failures.
Il am also equally convinced that
with careful and efficient work on the
part of the examiner, aided by intel
ligent and thorough letters of criticism
based on the examiners reports, any
board of bank directors Of fair intelli-
gence with an honest desire to obey
the law, can, by cooperating with the
examiner and the comptroller, make
the failure of their bank practically, if
not absolutely, impossible.
"Of the 1890 national banks which
have been organized 43S have failed,
or 5 Z per cent. of the whole num-
Der, as against IT = per cent of banks
other than national in the same pc
Rod. The national banks v hich have
failed have paid their creditors over
IS per cent of the amount due them,
While the other banks have paid only
about As per cent. OF the billions and
post, the national banks have lost
for their creditors in the whole period
of their existence only about thirty
million dollars.
These records in favor of the ma
tional banks are mainly, if not en-
tirely, due to the wise provisions and
restrictions of the national bank act
and examination and supervision by
the national authority"
Mr.. Ridgely said that the weakest 4
feature of the present system Of ex-
is that the examiners are
paid by fees instead OF salaries. The
government can, he said, and should
by all means improve the success by
paying the examiners salaries and
greatly increasing their number, SO
that man would have time to go into
matters more thoroughly.
Mr.. Ridgely said that recent dis
closures of the most disgraceful be
trayal of trusts by men in the highest
positions and the use of these very
positions for private gain at the ex~
pense of those whom it was their
sacred duty to protect have put the
American hnancier on trial before the
country and the world.