The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-13

The second days session of the conyen-
ton occupied three hours and was devot-
ed 10 tho transaction of such business as
was contained in the report of tho execu-
two council besides addresses and dis
cussions, interesting and instructive, on
various phases OF banking.
The report OF tho currency committee
was received. but no action taken there
on. The report followed the suggestions
msde yesterday by Secretary Shaw In his
address before the convention for an
emergency currency. Former Represen-
tative Pugsley OF Peekskill y. Y, who
submitted the report. expressed the opin-
ION that Congress would enact financial
legislation N the bankers presented q
united demand for some specih measure
The report outlined several changes IN
the system. which IL might he advisable
so make by legislation.
The enthusiasm OF the day was vented
ON the ship subsidy proposition. Tho five
enaoting clauses Of tho resolution are
Us follows:
Resolved by the American Bankers
association assembled:
citation are deeply interested in any
measure which will promote the interest
OF the whole country commercially and
industriaIly, and especially with refer
ence 10 our foreign commerce.
"Second-That we favor and most he
spectfully urge the passage Of Congress
az some measure TO foster and encourage
the upbulding OF the merchant marine
and give us back the prestige upon the
high seas which wa once enlOyed
"Thrd-That We favor the ship subsidy
measure which has received consideration
by Congress. which We think would tend
go restore our nag upon the seas ana
build up our merchant marine 10 the ex-
tent that the necessities OF our trade now
and I'm the future may demand
"Fourth-That we recommend that our
senators and congressman favor some
tust and equitable measure that will bring
about the results and afford the relief
above suggested.
"Fifth-That through our legislative
committee we memorable the senate and
the House OF Representatives Of the Unit
ed states with a copy Of these resolu-
tions"
The afternoon was given up to sight
teeing Many OF the bankers and the la
dies accompanying them witnessed an
exhibition drill OF cavalry at Fort Meyer
Others went TO Arlington and Mount
Vernon.
In the evening they attended the the
aires
A LOCAL OFFICER.
The convention will terminate with the
session today. the program OF which in
cludes the discussion OF practical banking
questions addresses and the election and
Installation OF officers
The following officers. subject to rati-
fcation in convention today. were named
by the nominating committee.
President, John L. Hamilton Hoops
ton. ILL.,. vice president. G. s. Whitson.
New York city: executive committee. @.
VI. Reynolds. Chicago. Charles j. Ed
wards. Burlington. Ia. j. J. Sullivan.
Cleveland. o.: Henry Wilcox Baltimore.
Mr., and Milton A. Ayles, District OF Co
lumbia
The other vice presidents named include
Charles @. Allen, Maine: Edward Wells,
Burlington. Vt: ex-Gov. Chamberlain.
Meriden, Conn; Edward =. Metcalf
Providence. r.. l.. and IA. NJ Batchelder
Salem. Mass
An interesting history OF tho Scotch
system OF banking was presented to the
convention by Robert Blyth general man
ager OF the Union bank OF Scotland To-
Gated at glasgow. The CHIEF charac
istic or tho Scotch system Is the right
Of the banks 20 issue the no-pound note
ps the result ~ which Scotland retains
today her paper currency almost % the
exclusion ~ metal currency
Mr. Rlvth maintained that n was IN.
~ns-pound note that ensbisd the network
90 branch bank. 20 ~ maintained IN scot