New-York tribune., 1907-09-26

nloneyed interests: the danger OF the competition
OF this new bank against the banks OF the present
TO BE OUTSIDE OF POLITICS
Gentlemen. let me remind you of the proverb6;
undoubtedly able bring about the estaellSr-
The U3ited states as Vel as those OF your indIvid-
ual states Furthermore 1 am Convinced tnat n n
. create CORPORATION which viii remain OUTSIDE OF
the sphere OF your pocs ne F4estsf obstacle
for the establishment OF central bank; but can pc
foreTeT as hank Of the banks which institution
will form link between the public ana the cehrai
After having established ,2 such a bank Tl5sgSe gSg Will Will
form next 70 gold the best regarded commercial
circulating medium, which with Us IS a!Wayyss IN
OF marks with you it would amount easily to lust
as many thousands Of millions OF dollars as our
marks, and would ease your commercial sc
70 a considerable extent. In our country in9hu-
Of their clientele Immediately liquid by receiving
and discoUnJng their notes with Us sool holeS
Fought hi m by the central bank The Reichsbank G3-
peral bank does not pay any Interest fo5
vete banks The Reichsbank also performs ser
vice for the hanks and their customers when Is
transfer money from one CITY TO another yithol'
the actual cash being shipped or uea up y. me Pr
formance This Of course, does away wlJh a!i N
land eEchange; wncT @ he be tanks in the
United states and locks up a great amount OF
The establishing % central hank would also 50
tend TO largely increase he cTcglatas snea51a I'm q
central reserve bank. the national banks would nc
~ +fai- yallife hui would deposit the same with
fhe central reserve bank. which would lhen ne
privileged 70 its notes against these deposits
Then William s withem. who is well known
among bankers all over the country as the owner
of q large number Of banks in villages and towns
and cities Of Georgia was presented TO the con
vention and made an address full Of optimism
and OF hUnor-
WORD FROM THE SOUTH.
Mr.. witham said that he was hardly across
the border Of the Mason and Dixon line when he
was told that great strikes up here. that
anarchy in its arrogance stalks up and down uIi-
molested; that the Black Hand and the mana
societies are here. eludng justice and detection;
that the drouth has shrunk up the berry crop.
the Goldfish coursing toward foreign shores.
that listed securities more properly TO be cailed
twisted securities) on the shoot-de-chute.
and that impending financial distress stares all in
the face with an oncoming panic beside which s5
would be but a BABY Continuing, he said:
Now. I come to-day bringing this company of
stall-fed fnanciers words Of cheer and consolation
ir the arnSnrcer1ent that this country shall not
have 3 dnancisi panic Be it remembered. our
country never had, nor can Il ever nave. 2 phi
Of the South is moving to take its place OF power
In the world Of commerce. Be II reIneTnoered t9at
in the year 's3 which crossed the ocean and turned
of the yellow metal toward our American
shores thus breaking the greatest panic o. al the
quick cold cash TO quench the flames OF a dozen
pancs AS in the battle Of New oriesns ,d-r tne
n1and Of General Jackson saved that city and our
f e94n[Ty try fTS ron te or Bres4f CROP Of Is viii Save
our country from the predicted financial trouble
The largest cotton crop ever produced is begin
ming 10 move on its way 10 Europe, ana me pal
ance OF trade is coming our way with II the tear
on our left 50 that before months have passed
a 5T a Of soFe ali pa3e a9 f q5'Ts normal
and the people Of the North and the people OF me
let troubles he forgotten
nd We dividend
Give thanks Old King Cotton
WHY I have lust read where one Of your erni-
nent bankers has proclaimed that We have reached
the climax of our prosperity l take issue VIII Win
midst of unhalting growth agree with llTn
tine for investors to introspect but Il Is time also
for money people TO prospect want TO announce
@ @ yG1 sa ina have e reached the csPs,one Of our
rnercal growth and prosperity conclude
that our zenith has been reached. and by what
XIay has nc ne T Wb5t e rule Of mahematics
has he figured the ungarnered crop OF lyll .pd %
wheat Of Minnesota. and estiTqated The rice euf Of
md added up the dollars paid for the tobacco Of
North Carolina and the golden fruit Of Florida
odorsao 3nd l and the vsooI Of California and
iron OF PENNSYLVANIA. and the coal of OHIO ana
he rItraegs of Connecticut? He count the
uhaat IN fhe granary. cut he can't measure II in
the fields OF the mighty West. He can count the
-oId In the vaults but that In the everlasting
hills He can estimate ne crops m M IN @ sI1fe % he
divine Benefsctor-
There were three candidates for the chairman
ship of the executive council. Lewis Z. Piorson'
president OF the Irving National Exchange Bank,
Of New York City. and an ex-president Of the
New York State Bankers Association, has been
ysfgSa laF
York state delegation. which has also selected
Bradford Rhodes vice-president. representing
New York State. Charles Z. Warren president of
State Bankers Association, and L. c. Nc
Dougan. whom Mr.. Warren succeeded last sum-
n1er the states choice for members of the
executive council. Mr.. Persons competitors for
the craftsmanship J. J. Sullivan. president of
the Central National Bank of Cleveland and J. G.
Brown president OF the Citizens National Bank
of Raleigh. n c
All three in sympathy with the currency
commissions plan. and the support which each
VIII attract will be measure Of personal popu-
larity. with little attention paid to geographical
considerations. AS well be judged. the
chances favor the election of Mr. Pierson.
There Vas contest the presidency vice
presidency when the elections in order. James
. Powers. OF Louisville, elected president,
taking the place OF MT Whitson, of New York
George NJ Reynolds. OF Chicago, chairman OF
,he executive council. named for yice-presi-
dent.
Tonight the visiting sznksTs and their wires
and daughters taking part in a brilliant re-
nentson and ball the Marlborough -Blenheim. To-
Morrow the convention will occupy itself win me