Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1906-10-25
SCORES
The NEWSPAPERS
President Of Bankers Associa.
ton Says Publication Of Fall
ures Causes Distrust.
MORE PAY @ EXAMINERS
Salary is Too Small to Secure Good
Men and Enough to Properly At
lend to Work CT Looking Into
a Banks Condition.

a Bank S Conditlon.
st. Louis. oct. lg.-rhe regular ses-
Son of the thirty-second annual con-
ven,ion of the American Bankers as
sociation was called 10 order this morn
ins in the Olympic thcaier by President
Ohm L.. Hamilton. of Hoopeston. Ill.
David II. Frames. Governor Folk, May
Or liolla Wells, ANA }. Z. Van Blarcom.
president of the National Bank of Com
nerce delivered welcoming addresses.
president Hamilton replied and deliv-
cred his annual address.
President Hamilton, after speaking
of the growth III membership and inter
.st and the influence of full of
he association. recommended the or
ganiZation of Il clearing house section
and recognition of the national insti-
.utc of bank clerks.
Lawmakers Should Share Blame.
Touching on the recent failures cf
banking institutions, the president said
hat while both state and national eX-
aminations has not been as thorough
rs necessities required. yet blame
SHOULD be shared by the lawmakers.
:Ie said there are not sufficient eXamin-
Ars to do the work properly. and men
If ability for examiners were hard to
obtain and keep because the pay is so
nw. These defects have been repeat
Idly called to the attention of
md state legislatures. II he urged
renewed efforts on the part of banking
interest to secure better wages for ex-
tminers and more of them.
The press of the country was taken
% task by Hamilton for making ar
.icles pertaining to bank failures too
sensational. He sara:
when the report is made of n fall
are the public is led to believe that
Every dollar of every depoSitor is lost
md the entire savings OF thousands is
swept away. This has led many to
omlni suicide and other acts of des-
oeration and at the same time Gre
,ting unrest in the minds of the public
20 that without reason, upon the slight
.st rumor. runs have been started upon
pther institutions.
while we deplore these actions" he
continued, we nave no apology for
bank wreckers. and yet great injustice
$ done our perfectly sound and solvent
Institutions through the press and its
eagerness for sensationalism.'
Hamilton denounced municipal own.
siii as Il Iolltltitl DUlItOIIlD iIlt
said Roosevelt voiced the sentiment OF
he people when he declared for fedora.
supervision, but not for federal owner.
ship.
INC speaXei paid high tribute &c
ioosevelt and Shaw for their fearless
less. good judgment and resourceful-
less in handling the financial affairs OF
he nation, and closed with an appea;
o the bankers To get together. form.
llate and recommend such legislation
as will care for and protect the rapidly
developing interests of the country;
measures that will be equitable TO al,
classes OF business and people.
Should Get More Pay.
In his address TO the association
President Hamilton said i'm part:
Bank examiners should be paid a.
liked salary. commensurate with the
responsibility of their position. and the
number OF examiners increased so as
% make the examinations more thor
,ush. The banks would be only too
glad to have them made so, if possible,
)ut it is not possible under the present
avs.
There is no good reason for the
llggardiy manner in which our ma
ional bank examiners are paid. The
NATIONAL banks of this countr would
t thousand times rather pay an un-
necessary additional expense for exam
JlitIoIl IIHll TO SlHnu Inc 0d111Tn fhnf
$ placed upon them through no fault
If their own. If the EXAMINATIONS must
Dc paid for by a special tax on the
rational banks. then make it. and make
high enough to employ NOR. nx-
miners and pay them salaries in keen
ug With The s.ryices rau,,i,.l
There is, however. no need for a
special Ian to secure more thorough
Examination. Tn, national hanks az
his country are paying ANNUALLY ST.
$4,000 in tax ON circulation. i'm cxress
II the mount of of the comm
rollers, department. Why not use a
sa.t OF this fund and secure better
service" The fact is that from me
iead of the coiupiroller's office down
here is rot a man whose Wages are
commensurate with the responsibility
y the position lie nolds: and vel h.iny
lam. When it comes to a point ,aat