The Montgomery advertiser., 1908-09-24

The American Bankers Association, representinE thirteen billion dollars or capital surplu, and deposits VIII meet in Denver next Monday. There are nearly 10000 banks that are members Of the Association, and its annual ses- sions bring together the leading lights of the banking world to consider ways and means for improving current methods of banking. and for the pro tectiou and enhancement of their ousl- ness This will be the thirty-tourtn annual meeting of the Association, ana in many ways the most important There are more questions of vital inte- rest to bankers pending in the uoli- tica1 world today than there have been since the passage of the nationai bankfne act. The currency is To De reformed, mainly with reference 10 lts relation to the banks of the country. and the question of the guarantee or bank deposits is to be voted on al the presidential election amonth away.
 The Association considered the ouestion of currancy reform last year and agreed upon a plan for the guld- ance of Congress. But Congress did not act in accordance with us sug- restions At all, and Senator Aldrich went so far as to declare tnal no banker had been consulted in the pre- paration of his measure, to wnlcn
 
 was not necessary for him to make that statement,-it was so obvious that if went without saying. The bankers are hoping that when the Currency Commission settles down to a consideration of a permanent cur rency law their views will be con suited a little more. In this hope the Association will discuss and consider thoroughly the pending legislation, with a view to urging Congress to consider their conclusions.
 one of the most interesting features of the American Banking Association is its work of extermdnating the pro- fessional bank robber. It has Pro- tective Committee, whose names are not made public, whose duty 1t Is to keep a weathereye open for every fafe blower in the country. Besides this, the Pinkerton Detective Agency is employed to round up this class or crooks for the Association. Last year there were ninety-three banks attack ed by robbers. Seventy-nine of them were Association banks as com pared with fourteen Association banks The non-Association banks lost more than $100, ,000, while those which were members of the Association lost less than sI0o00 The professional bank robbers know the memorable fate that pursues them, in the form of the As- SOciatiOn, and so generally aVoiu the banks of that organization when on their footing expeditions.
 Despite the hard times resulting from last years panic, the banks have been able to make a nice pile of pro- fits during the present year. On July 1, the banks of New York City turned over about $5.000.000 in dividends. Those of other parts of the country are Nsaid to have done as well pro- portionately. When a man has bank note in his pocket he can figure out that the bank which issued 1t IS getting a nice little thing out of 1t in the way of interest. The bank goes into the market and buys bonds. These bear three. four, and sometimes five percent interest. It takes these to the Secretary of the Treasury and de- posits them as security for the bank notes which it proposes to issue. The notes are then furnished, and the bank uses them for making loans and dis counts. In this way they get interest going and coming, which Is not the least of the sources of profit a bank has.
 The bank deposits of the United States amount to more than thirteen billion dollars. The total money in circulation in the United States a. mounts to two and three-quarter bill- lon In other words, so great are the