New-York tribune., 1908-02-09
DIR. DAY SCENTS BLOOD
RAP At CLASS HATRED.
Messrs. FOzoler and GIynn also Ad-
dress State Bankers.

Albany. Feb. s.-Chancellor James r. Day of
Syracuse University, guest of honor the annual
meeting and banquet of Group of the New York
State Bankers Association at the Hotel Ten Eyck,
| again denounced tonight those who would create
| class hatred and prejudice and dstrust and
suspicion of business whose genius and money
! turn the wheels which give employment to millions
of laborng men and women
Representative Charles n. Fowler, chairman Of
| the House Committee Banking and Currency:
| State Controller Martin II. Glynn and Edmund D..
| Fisher. of the Fatbush Trust Company. Brooklyn.
| also spoke Governor Hughes unable to be
present because Of pressure of business
Chancellor Day quoted from speech OF Daniel
Webster, more than half century ago. denounc-
! ing what he called Just such attacks as those
made in these days, and declared that the address
sounded If it delivered yesterday; 'it does
not sound like the delivered a week ago yes-
terday. lie protested against the inference being
cast forth that the greater proportion of the busi
ness of the country being done through corpora
| tons criminal. and announced that in the in
terest Of square DEAL should call for bill
Of particulars. lie continued:
l charge this whole business with bearing the
earmarks of dsloyal sander and defamation Of the
and Corporations are in the terms in Which the
slanderer talks They not judicial, specific and
particular. They are sweeping, reckless, indis-
crininate, and on the face of them, for the mos
Talk of the suicides of Wall Street! What of the
suicides of a panic brought down upon country by
of the land? The whole thing is gigantic political
game in which the people being deceived for
assertions: there is prejudice enough in great
eS OF in the M People @ Pie sheG is just a moral
game for the time but as sure as God is true and
YOU need not envy the scandal mongers who In that
day will take their places on the indeltbe pages of
Evils there have been. evils there are and al
M s @ pe 4sd eS b the nd g1de Who m
leading the people into the ditch with indiscrimi-
Honor, there is too, Honesty there is in our
asset and which we may boast as our just pride
and glory.
is business honor and integrity where the
people more safely trust their money in banks
or their investments in corporations or take the
word Of their neighbor with more explicit conf
dence.
geniuses of commerce and manufacture have be-
The trouble has been that the muck and slime of
the vilihers have been flung over them until We
the great dailies of London, Berlin and Paris are
of o an a1a o5s t
dollars of our stocks.
made TO throw off the responsibility and place 1t
upon the men who have been our bulwark in the
what Of & our future If you will stop the ray
notices on the men who are defaming our business
men and discred'ting trade by representing our
iaduteration if you viii eal to account the men men,
who %ho are ia our bonds and stocks in for
brokerage and exchange with a den of thieves if
fair play NTH in their efforts to make new adjustments
and to meet the demand of fabulously developing
picion distrust and ignorance concerning economic
votes or their following who defames his country
sixty days will put an end TO these hard times and
respect and insist that the rich ana the poor shall
ye anG % hs od R % ade tba he gud
But If you acquesce and by silence consent to
the infamous work of the scandalHongers, and
thrifty classes and the restless anarchistic social
of protest against an agitation that invites the
to the poor to take the property of the rich with
violence because it has been stolen from them, if
assaults upon the mighty forms of our Il tinance 1ss
IN the hs o 6 Of hf
prophesy. as did the panic more than year ago |
bood ne Sae % @ that before another half dec
riders torch viii light the heavens with its sap ap-
pailng glare
Mr.. Fowler said in part
The bin introduced by provides for a guaran-
tee fund of $500 900 in the States Treas
deposits in our banks are involuntary. No has
the privilege ,lf Of putting his money where he VIII
Iutely free from risk and at the time be able
must choose some bank, ana the very fact of fa a
choice implies risk Not one person in ten thous
ness Of the bank at which he is doing business In
the last analysis it is absolutely matter Of faith
and blind faith at that When bank fails it is
not as though mans life has passed out his
Of credit extended and intricate that the
business of the whole country is affected by bank
sequences. direct and indirect, growing out of them
Such guarantee fund in the United States Treas
which leads to boarding. Unless the relief ! advo-
cate is afforded. sooner or later shall have a
postal savings bank in this country. and then the
government will have to become a large buyer of
More than this. the states are already attempting
% meet this demand. oklahoma has passed a law
providing for the guarantee of depositors The
of Kansas has been called together to
consider this same step If Kansas passes such
ample Such legislation is form OF socialism and
a. am ! utterly liter tio opposed no. to to it s,.
'osts would lead to unsound banking. Does life
insurance or fire insurance make man neglectful
hat their losses must out of their profits. out
equations? Boards of directors will be just as
olcitous, anxious honest and wise after they have
Ike other business Institutions will gain. not by
mere age and Responsibility or by mere bulk Of
nents of their customers. Square dealing and
apacity will tell for just as much after deposits
re guaranteed as before.
Controller Glynn's speech follows in part:
We want a system which shall be automatic and
nder which folks can get at all times and at rea
enable cost such money their credit warrants
+ the Treasury any other officer of the govern .
nent. Though our present system is bad. We have
ot along fairly well under II. and can get along
airly well u little while longer. until the country
makes up its mind what 1t really wants
The developed party spirit of country |
auses approaching elections to be more considered
over to day at Washington seems unwilling to go
efore the country with no currency measure
oses. believe that it is the best bet that
his imagined political necessity Is the strongest
/ believe that the best way out OF our troubles
-ould be for Congress to authorize expert COM
lission to draw up plan and present II TO the
ght 10 issue notes 10 sixty five hundred banks