The Montgomery advertiser., 1908-10-02

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 "Resolved, that the American Bank CTS Association is unalterably opposed to any arbitrary plan looking to the mutual guaranty of deposits, either by a State or the Nation, for the fol- lowing reasons:
 ..First--It Is a function outside of State or National government. esecond-It Is unsound in principle. "Third-It is impracticable and mis. leading. .Fourth--It is revolutionary in Character. re
 .Fifth---It is subvsrsive to sound economies.
 asixth- It win lower the standard of our present banking system.
 "Seventh---It is productive of and CT = courages bad banking.
 "Eighth-1t unjustly weakens the strong and fairly strengthens the weak banks.
 "Ninth-It is a discredit to honesty ability and conservatism.
 "Tenth--A loss suffered by one bank joepardizes all banks
 'Eleventh--The public must event. uafly pay the tax.
 "Twelfth---It will cause. and not avert. panics." &ss ly on the proposed establishment or postal savings banks. saying:
 No bill has been presented which will really prove beneficial to the country"
 The Association will hold Its next meeting in Chicago.
 Addressed bv Ransdeli.
 Joseph E. Ransde1l. member of Con- gress from Louisiana and a member of the National Conservation Commit tee. made an address on tlse conserva- ton of our National resources.
 He talked particularly on the neces- sly of improving inland waterways. a subject on which. as President of the National Rivers and Harbors Congress, in part as follows:
 "A careful study of agriculture in the advanced countries of the old world. such as GreatBritain. Belgium. Holland. Germany. France and Japan shows that the soil produces in those countries fully twice as much to the acre as in many instances as it does in the Unit- ed States and that while the lands in these old countries seem constantly growing better, our lands. which were so productive a few years ago. are be- coming less so.
 Now 1t seems to me. that we surely should get as large returns from our virgin soil as do our foreign brothera from their lands, which have been cul- tivated for over a thousand years.
 Even under our present bad meth- ods the farm products of the United States in 1907 had a value of $7,412,- 100000. If we pursued the advanced agriculture of Europe and thereby made our lands produce twice as much as at present they would pay us $15,o0o.0o 900 year. which would give the really enormous addition of s7.500.000.000 to our national wealth every year.
 We are citizens of the Iron Age. the most glorious and progressive age of all the worlds history and our great republic is now making nearly one-half the iron product of the whole world And yet, geologists tell us that the wonderful iron ore beds of the Lake Su- perior region will be exhausted within forty years and the national supply be almost gone by the close of this cen. tury. What Is true of iron applies also to coal Both are essential to our daily existence and comfort.
 We are consuming coal with great rapidity and wastefulness. Only about five per cent. of it's potential energy utilized in most of our furnaces. the other ninety-five per cent. going up in smoke, etc. And in the processes or its mining we lose nearly hftv per cent.
 ''Next in importance to agriculture Tn connection with the soil resources. IS forestry. Without forests to shield the earth from the sunscorching rays ana the humid mold to soften the Erounq, there can not be continuous. -steaoy supply of waters for rivers
 "This country Is the best watered m the world, The possibilities of our streams for power purposes are enor nous. Unless care and wise toresishs he exercised this most valuable natioh' al asset, worth at least billion dollars A wear, now living dormant in ou rfow- ing streams will be seized upon by cor porate interests and the power will be sold to the people at monoponstic prices.
 .In conclusion permit me to advise each and every one of you to study con servation in it's broad sense. the most imnortant subject to the American Peo- nle and worthy of the highest consider ation of our brightest minds. 1T too busy to investigate the whole neId, forests lands and water, take up one of them and acquaint yourselves with 1t thoroughly.
 Reynolds Elected President. The thirty-fourth convention of the American Bankers Association came to an end this afternoon with the eiec- tion of George M Reynolds of Chi cseo as President, and. Lewis E. Pier son of New York as First Vice-Presi- Thirty-eight new members were an- and a Vice-President repre- | senting each State having representa- |