The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1908-04-24
HON. GEO. I. ROBERTS SPEAKS
NORTANEBRASKA BANKERS

which is as soon as the rules of the
game will allow
This convention Is especially hon.
orcd by the presence of the Hon. Geo.
Il. Roberts of the Commercial Nation
al bank of Chicago. Other city bank.
ers are with us today, men full of
resource. When they have not the
cash they have something just as
good, and we will all have the pleas
ure of hearing from them later.
will not say anything about the
gates of the city, for really Norfolk
has no gates any more 49, our latch
string Is pulled so often these days
that the door itself has been pulled
away entirely. and we are glad of II.
Come in, come In good friends 1t is
a twelvemonth since we have re.
ceived so distinguished a company Of
gentlemen.
Gentlemen: In behalf of the bank
ers OF Norfolk | wish to extend to you
most hearty welcome to our city,
and sincerely hope that each one Of
| you will enjoy fully your stay with
us, and go home feeling better because
| you came.
am sure that you will all agree
with me in looking over the program,
that there are a good many things in
store for you.
l thank you.
W. T. Graham Replies.
w. T. Graham. the Laurel banker, re-
sponded to the address OF welcome on
behalf of the convention, speaking n
! OF hat
the's words had been corroborated by
the personal welcome already received
from Norfolk bankers.
Presidents Address.
Senator Randall as president then
delivered the annual address. Senator
Randall said:
Gentlemen of the Convention: AS
Is the custom on occasions Of this
kind, 1t becomes my duty to address
you.
| esteem it great honor to be Sc
lected by you to preside over the de.
| alterations of so distinguished a body
| OF representative business men.
shall be very brief, as | believe we
are here for something more substan-
tial than spread eagle oratory; and
as we have with us several who have
prepared papers on subjects in which
| we are all interested, we are anxious
to hear and receive information that
will be of service to us in the con-
Quoting of our business.
| Since our meeting one year ago,
we have all had a new experience;
and it is pleasure, now that the
clouds have rolled away, to be able
to congratulate the bankers of Group
Three that they were able to stand
the test; and that not bank in
Group Three or the state of Nebraska
failed during the recent panic. 1t Ger.
| tainly speaks we'll for the bankers OF
this state, that they were able to pass
through such trial and come out
stronger than they were before. II
was truthfully said by the financiers
of the east, Nebraska was the bright.
est spot on the financial map" This
is due largely to our great natural
resources and the good judgment of
our splendid citizenship. The bankers
of the country have also been taught
that a good reserve Is essential at all
times, and that their reserve be kept
in banks that are not given to specu.
|
tain or questionable value and where
it can be obtained for use in case II
Is needed.
At first | was inclined to feel that
our correspondents had no right to
refuse to ship currency, and that they
were doing us and our customers a
great injury; but results have proved
otherwise, and had they not done as
they did and compelled the banks to
stand together and the people to stand
by the banks, the results of the panic
would have been disastrous to the
country; so that it would have taken
years to have recovered from the fail
ures, and. | doubt if confidence in
banks would ever have been restored
as it is at this time.
The cashiers checks were put to a
new use and have taught the bankers
and the people that where confidence
in the institution that issued them
was unimpaired. they answered the
same purpose in paying debts as the
actual cash; they relieved the finan
cial stringency and permitted bust
ness to go on undisturbed. Had il
not been for the action of the banks
and the clearing house in adopting
the cashiers checks and clearing
house certificates the entire business
of the country would have been par
alyzed, property values would have
been ruinously low, and liquidation
would have been the order of the day
in all lines of business.
The cashiers check has taught mo-
only the banker but the people thai
the country is in need of a more elias
tic currency; not for the use Of any
particular locality but for the entire
country. A currency that there car
be no question about its value and 81
that it could be issued at time wher
needed for the carrying on of the bust
ness of the country without attracting
the notice of the people. In my judg
ment this should be secured by M
other security but government bond: