Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-10-18
BANKERS ARE TALKING SHOP
Indications Convention Will Have Warm
Debst, on Proposed Reforms,
PRESIDENT HAMILTON MAKES ADDRESS
Head of Association Finds Much Good
In Federal Omcers, but De-
pIores Sensational RE-
ports of Failures.

ST. LOUIS, oct. 17.-The first days ses-
sion of the thirty-second annual Conven-
tion Of the American Bankers association
was devoted almost entirely to the hearing
of routine reports. There was enc time
during the day when the deliberations OF
the convention threatened to become extra
ordinarily animated. and that was touching
on the question of currency reform. The
subject was not entered into today. how
ever. being laid over for discussion tomor-
row when the federal legislative committee
will lay before the convention an elastic
currency plan It has prepared Currency
reform IL apparently the keynote and ma n
idea of the convention and so many plans
have been presented and suggested for con-
sideration that confusion has resulted.
Therefore It is the unanimous opinion Of
the delegates that tomorrow's session will
be characterized by warm discussion when
the subject is brought up. but conservative
and influential members feel certain that
a plan of currency reform viii be agreed
upon before the convention finally adjourns.
Addresses OF welcome.
Addresses of welcome were made today
by Governor Folk President ID. r. Francis
of the Transmississippi Commercial con-
gress, Mayor Rolls Wells and Chairman
j. c. Van Blarcom of the reception commit
tee. being responded to by President J. L.
Hamilton Of Hoopeston. ILL.,, who delivered
his annual address
Mrs. l.. A. Batchelder of Fingal. n D..
occupied a prominent position OH the stage
today, being the only woman so honored
because she is the only woman hank presi-
dent attending the convention She is pres
ident Of the First National bank of Fingal
and her husband, G. f.. Batchelder, is cash
ier of her bank
After discussing reports all day. regular
business was suspended late I'm the day
and the convention was addressed by Hon.
Charles l.. Fowler, chairman of the COM
mittee on banking and currency in the
house of representatives. and Comptroller
Of the Currency William b. Ridgeley
owing to the lateness OF the hour. a. the
conclusion OF Comptroller Ridgeley's adj
dress the proceedings Of the convention
were continued until tomorrow morning
at 10 clock.
Report of Proceedings.
, The opening regular session of the thirty
: second annual convention of the American
Bankers association was called to order
this morning in the Olympic theatsr by
President John J.. Hamilton of Hoopeston.
I ILL.,, and not until this meeting was there
, a full realization OF the concourse of finan-
cial men of the country gathered in st.
Louis this week.
The many different meetings of various
branches of the parent convention divided
T the attendance yesterday into groups but
1 today the full attendance of delegates Was
centralized in the general convention and
the lower floor of the theater was filed
Right Rev. Archbishop John J. GIennon
a offered prayer, reciting simply the Lord 8
, prayer.
q Hon. David r. Francis of st. Louis de-
) livered the opening address of welcome,
n followed by welcoming addresses from
| Governor Joseph w Folk of Missouri,
Mayor Rlla Wells of st. Louis and J.
. c. Vanblarcom, president of the National
A Bank of Commerce of St. Louis who is
r chairman of the reception committed
Address by President.
President John Hamilton replied to the
J welcome accorded and delivered his an
nual address, speaking as follows:
= The examination of banks has been
Drought TO the attention Of the public by
the recent failures of both state and ma
tlonal banking institutions. and small
linount OF blame has been attached to the
e management Of these departments. bot!
@ state and national, as it has been shown
. mat they have not been as thorough ms
4 tons
n The blame does not rest wholly with those
departments, nut should be shared by tho
Il lawmakers. both state and national The
= attention of congress and of the state lcgls
4 latures has been called. not only by tho
. comptroller or the currency and the man
i agement of state banking departments hut
d by the bankers individually and through
the different state associations, as well as
by the American Bankers assoca tion, tC
y the .act that there are not enongh eX
is aminers to properly do the work
10 The press of the country i'm its eagerness
. for sensational news makes too much oi
/ everr bank failure and aims by its art
Il IN hDV ftfNVN. nj
10 sible. When report is made OF 2 failure
= the public is led to believe that every dol
e lar OF every depositOr is lost and the entire
t. savings OF thousands are swept away. Thi,
has led many 10 commit suicide and Other
!, acts of desperation, at the same time Great
i ing an unrest in the minds Of the public. 81
e that without reason, upon the slightest ru
n NOR, runs have been started upon otho
y OF and have no apology for bank wreckers
vet great Injustice Is done our perfectly
" press in its eagerness for sensationalism.
Good National officers.
We do not realize our good fortune II
i having for the head of our government
president and secretary OF the treasury
who are fearless men, of such good judG
= ment and such sterling character In tn,
D management Of the financial affairs OF th
p. the country from financial embarrassment
by the deposit Of public funds at critica
times. by accepting other than Unitoc
States bonds as security and nv the an
ticipatiOn OF gold imports. These have beer
In timely moves and their authority by Law
. | has been seriously questioned. vet the con
81 ditions have warranted their action and tn
RS gentlemen have had the courage TO NEE
IN the emergency. These emergencies haV
been brought about by the rapid growtl
u and development Of the country, each yea
IN bringing with IL new and greater demand
he upon our financial resources There Is
- limit to which our executives can go.
III change of administration change o
IN policy would throw the country into a Sc
riOus financial condition, and the continue,
-. growth and development without new law
"a to meet our rapidly changing conditions
I'd will sooner or later place us beyond tn
r power of the treasury to aid us. and In al
I embarrassing condition by not having tn
~ proper banking laws. giving 20 US a sum
nj cient elasticity of currency to at all time
IL and at all seasons Of the year be able 4
"A handle and market the products OF ou
~ country.
's President Hamilton recommended an en-
largement of the executive council of tn
- association. the organization of a clearin
house section and the recognition OF tn
National Institute OF Bank Clerks by givin
it three representatives on the axecutiy
c. council.
< Report of Secretary.
n. The annual report OF Secretary Jane
>" r. Branch Of New York showed the fol