Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-25
PRIZE FOR BEST ESSAY.
Institute Of Bank Clerks Stimulates
Literary Efforts,

To stimulate study of technical banking
questions, with the ultimate aim of max
ing more efficient bankers, a handsome
silver cup was last night presented by
PRESIDENT w. NICK. Stowell to the Wash
lngton chapter of the Institute of Bank
clerks, the cup to go as prize next
spring to the person who writes the best
paper on one of five practical banking
problems. The presentation of this cup
and debate on state bank notes were
the features of a regular meeting of the
local chapter, held in their F street club
rooms last night.
The subjects announced for the competi-
ton for the club cup are: "a The history
OF our present national bank reserve sys-
tenn; % On what conditions should treas
ury deposits be made with national banks;
CD Real estate loans by small national
banks; "a Proper and improper trust
company Investments; (O Requisites of a
thorough bank examination. The different
papers will be read before the chapter
All must be submitted before March 1
next. A committee of judges, composed
of practical financial men, will then con-
slider the papers and award the prize to
the best one, the announcement of the
winner to be made at the annual spring
banquet.
The subject for the debate affirmed that
the tax of state bank notes should be
icpcdleu MeSSTS. Il. InOmaS, ii. j
Phelps, ]. D. Faber, E. S. Wolfe and w
I. Poole supported the affirmative of the
proposition, and Messrs. A. S. Galley, E.
E. Payne, E. P. Wilson, H. H. Smith and
c. c. Pierce spoke for the negative. The
board OF judges. who were Prof. H. P.
A. II. Bedford and James l.. Fugitt award
ed the debate to the negative.
For the affirmative 1t was argued that
the debaters do not sand for a return of
the days Of shinplasters. but that they
advocated state bank notes properly Sc
cured by recognized and standard stocks
and bonds, limited to the amount of Sc
| curity and capital stock. This would
provide for an elastic currency, 1t was
argued, which would meet the needs of
the small commercial centers and provide
for the stringent times when crops were
| to be moved, etc. Being of local issue and
remeemable only in the state of issue, they
would remain in localities not provided
for by the present bank note issues.
The negative argued that the present
| system of national bank notes provided
| stable. elastic, uniform and redeemable
| form of currency which had met the
needs of the country for many years. The
Issuing Of a large number of bank notes,
which, through failures of institutions,
would not be redeemable at par, it was
stated, was feared under the system pro-
posed by the affirmative
E. P. Wilson, chairman of the entertain
ment committee, reported that meetings
would be held every Thursday night On
two Thursday nights a month lectures on
banking as a profession will be given by
Prof. H. P. Willis of George Washington
University. On one other Thursday night
each month a debate will be given. On
the other some special feature will be ar
ranged.
Music was furnished last evening by the
chapter orchestra and refreshments were
served at the conclusion Of the debate.