The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1908-02-26
FINANCIERs Of FLORIDA
PRESIDENT MUNRoE's ADDRESS
To the State Bankers Association. in
Convention at st. Petersburg,
Friday, February p, 1908

-;rothcr Bankers of Florida:
1t is nearly eight months since we ad-
ourn"d our annual convention at At
ante Beach. Within that compar-
,tively short time, what great changes
nave been wrought in the commercial
history of our country. From the top
notch of prosperity we were. in a few
short weeks. plunged to the lowest
lepths nf business depression. and yet
chen our roll was called at this. the
opening Of our fifteenth annual con-
'ention. the old guard of Florida bank
RS proudly answered here"
II is indeed a matter Of great pride
hat we can point to the splendid re-
ord of our Florida banks during the
past mOmentOus year: but one failure
o report. Only two cities in our state
Restriction in payments
was resorted to, to a very small extent.
while in neighbOring states. restriction
IF Payments and use of clearing house
certificates was the rule rather than
he exception. This speaks well for
he attention to business and conser-
latiSm of our bank men. 1t shows
hat our houses were set in order and
always ready. come what might. But
our path was not s.rewn with roses.
Which one of us can forget those anx-
Gus days and sleepless nights in No
Iember when currency was hard to
get, even at 1915 per? Our efforts to
keep the financial craft aflOat- would
nave been futile, however, had we not
received the loyal support Of our
people. Too much cannot be
said in praise OF the good, common
sense and conservatism of our fellow
citizens under those trying conditions.
Praise for-the Plain People
They refused to be stampeded. They
look the view that as partners, in a
sense, it was their duty. by voice and
precept. to allay as far as possible,
all suspicion of the stability of their
financial institutions.
Needed Legislation
1t is not my intention to go into the
causes of the recent financial upheaval,
Dr. to suggest remedies for our trOu
bic. AS to the necessary national
legislation for currency reform, think
we have every reason to expect relief
respond to the widespread demand for
action. Our national association has
been doing splendid work for the past
five years in agitating this important
question, but it needed Il great crisis
to spur Congress to its task.
As to state legislation, do not think
we need any more of a general char
acter; organization and examination
are well provided for. A few details
might be added to the, further limita
ton of liability banks. | refer. par
ticularly to the need of statute limit
ing liability as to forgery. Our eff
Cient legislative committee will doubt
less report progress in this direction
urge and invite each one of you, at
our coming business session. to bring
forward for discussion any suggestion
or point which you think will be of in
tercSt or benefit to our members. E,v
cry banker. in the course of his daily
routine. comes upon some new eXper-
fence that my have an important
bearing upon the method or banking.
your duty to bring such matters up
for free ANA fun discussion. Our as
Sociation can be efficient only as its
make il 50. They can make
it 50 by regularly attending the annual
meetings and taking an active part in
them. 50 that all may be benefited by
the intcrC hanSe of ideas.
TIL" Consolidated State Eank report
for December 31St last. gives a deposit
Of thirteen millions which is u good
showing under present conditions:
July. 1907. total deposits thirty mill
lion. one hundred and fifty thousand.
total number Of banks of all kinds in
this state. one hundred and forty-five;
in the association. one
hundred and two. leaving fort y-three
banks not members. Can We not. by
concert Of action. get them into line?
| cannot conceive of any reason why
a bank should not wish to join the as
ShciatiUn: organization is tie order of
the day. BY holding our meetings at
different points in the safe it may be
that we can add To our membership.