The Montgomery advertiser., 1905-05-27

gun can strike truer than its most accurate aim, so 1t is that no business can rise higher than the character of those who manage 1t.
 While the bankers of Alabama are noted broadcast for their progressive conservatism. 1t might be well to call which perchance may gradually be leading beyond the smooth pathway of conservatism into the yet unknown, but rugged highways of recklessness. deposits. The practice has at least a tendency of influence toward greater risks, for funds upon which interest Is accruing even while, we sleep, whether invested or not, and of which a part must necessarily remain idle as a cash reserve, must somehow be placed by doubt at times loans of a questionable character are made. Outgoing inter est becomes fixed charge Of expense, cient, there is constant dripping up- on the stone of surplus that will soon- CT or later wear it through to the point of weakness.
 Judgment Necessary.
 It is not my purpose or intent to condemn the payment of interest on for specified time, when actual re- quirements make sure of their safe employment, but careful Judgment should be exercised in specifying the rate which such deposits should bear. It is unwise, and in many ways det- rimental to increase deposits, as such, by the payment of extravagant in-
 Touching the State Bank Bill. passed by our last Legislature, permit me to remark upon the successful treatment with which 1t has met at the hands of our state officials. so well qualified to lend a protecting hand to both the de- positor and the stockholder. They have at all times had the hearty CO., operation of that band of conservative men who conduct our State banks. sufficient time has not yet elapsed to the provisions of the law but that change of mind on the part of those who may have feared the imposition ment. There is no better asset than publicity" as applied to condition in q well regulated bank, for through 1t the proportion of public confidence IS enhanced, and there does not exist a bank which is not dependent for it's greatest element of success upon the Not as a defect, but rather as a sug- gestion, would l refer to change as to that provision pertaining to pub lished reports The bill, as at pres of that character per annum. subject to the call of the Honorable State Treasurer, Would 1t not be better 1T a clearer insight into actual conditions is desired. and for statistical purposes us well. both state and national. to provide for published reports of con dition of all banks in the state on uniform dates? This could be accom- plished by an amendment of the bill. and by means of an understanding be- tween national and state authorities. Regarding increased publicity as a sure means of banking prosperity, l cannot conceive that a single objection would be raised to such an amend ment.
 From the standpoint of true ethical banking, and in order that the adver- tisements Of banks may not prove In any degree misleading, a regulation might be instituted as to the publica- ton of the paid-in capital rather than the authorized capital of such insti- tutiOrs. This would have a tendency to create a greater degree of confi- dence in each individual institution, especially where several are operated practically under one management. would not have you regard these sug- gestions as criticisms on my part. but the ideas are simply thrown out as food for thought, in the hope that they may at some time and in some manner result in the welfare of the banking interests of Alabama
 Concerning the Negotiable Instru- ments Law, which failed of enactment before our last Legislature, l am con. strained to repeat to you the words or admonition, spoken by my worthy too soon," said he, to begin prepsra-