The Washington times., 1905-10-12

The American Bankers Asso-
citation, at the Columbia Theater
this morning. adopted, by an
overwhelming majority, series
of resolutions offered by Col.
Robert ]. Lowry, of Atlanta,
favoring the ship subsidy and
asking the adoption by Congress
of legislation effecting this end.
The convention heard the reso-
lutions with enthusiasm and In
terrupted their reading with fre-
quent applause.
Shaw Paved wsy.
The way for their adoption had been
paved In the address delivered yesterday
by Secretary Shaw. In a brief speech
urging their passage. Colonel Lowry de-
thunder and left nothing of conse-
quence for him to say.
1t was a striking feature of the intro
duction and adoption of the resolutions
that their leading advocate and most
strenuous opponent were both from the
South
The only speech in opposition was
made by John c. Fletcher. president OF
the Gcrmania National Bank. of Little
Rock Ark Mr.. Fletcher said the
American nation and the American peo-
pie were opposed to subsidies of ever,
kind and character and required no fac
t.tious aid IN the development OF theil
industries.
The convention was called to ordel
shortly after 10 o'clock this morning bI
President 6winney and the invocation
was delivered by the Rev Teunis
Hamlln. pastor of the Church Of tn
Covenant. The attendance was ever
larger than It was yesterday and clos
attention was paid to the proceedings.
Business Unattractive.
1t is stIIl noticeable. however, that
relatively small percentage of the mem
bers attend the business sessions.
Most interesting of the formal paper
read In the session was that Of Rober
Blyth. manager of the Union Bank o
Scotland, Glasgow. who spoke on 'Th
Scotch System of Banking. Mr. Blyt
is a forceful speaker and his grasp c
his subject as well as general prime
ples of finance. won close attention
The convention heard number
papers and suggested resolutions on In
subject OF amendments TO the nation'
banking laws having for their princips
nt1rpose enabling national banks 10 len
money on real estate security
The present defects IN the la" Oh IN
uoint we've well brought out In papt
read by NJ V. Van Slyke. presioent
the First National Bank of Madiso
Wis =.
Mr.. Van slyke said every bank Is II Il
terested In the passage or proper re-
trictive laws safeguarding the interes
Of stockholder8 and depositors
Too Many Laws.
I'VE have too many laws and too II
tie enforcement" said Mr.. Van slyk
Laws unreasonable in their requir
ments tend to disrespect and conseque
disregard. When considered OF min
fmnortance we are too apt TO oVers''
the line between questionable oofi
pliance and open violation, oegettihg
certain spirit OF lawlessiess OF great
or less consequence
rhan noting the changes in condition
Mr.. Van Slyke urged the res''a''"h
Ths naper. with others on IKE que
,,ons vas referred TO the commit
on legislation.
Lowry Cheered-
c.,.o, r.oxxry was recognized r.
cheered as he advanced 10 the front
the stage to offer his resoiutiohs iaVe
Ing ship subsidy. They were rcad
the secretary. as follows:
whereas the export trace OF the ID
nile of the United States Is annually
rbe increase and In the years 10 col
Will necessarily increase in greater
ito than II has IN the past and
..x,-horaoe the percentage OF forei
freight carried in our own Americ
shius has decreased until compared
the gross amount of our exports II