Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1908-09-29
Bankers Association
Meets in Denver to Talk
Over Legislation

DENVER, Colo, Sept. 2S.-More
than 1000 bankers, representing all
classes of financial institutions and
every state in the union, are assem-
bling here this week at the thirty
fourth annual convention OF the
American Bankers association. Hun
dreds of delegates are already on the
scene and it is evident from their
conversation in the hotel corridors
that the liveliest session since the
memorable one of 1896 is expected.
This year the guarantee of bank de-
posits probably will be the principal
topic of discussion. Another subject
of vital interest that will be discussed
at length is that OF currency. The as
sociation was not satisfied with the
Aldrich currency bill. The currency.
| commission of the American Bankers
association, which drafted measure
of it's own to see it rejected by the
leaders of congress will make it's for
NAL report at next Thursdays ses-
sion and delegates then will be given
4 an opportunity to express their views
on the subject.
The reports of the legislative COM
mittees and the committees on eX-
press companies and bills of lading,
which will be made at the opening
session on Wednesday, will present
other topics of general interest. The
association has been trying for sew
eral years to prevent the express
companies selling money orders,
while the alleged failure of the rail-
roads to safeguard bills of lading
also has been the subject OF much
contention, both in the courts and be-
fore congress and the interstate com
t merce commission. 1t is practically
0 certain that the convention will en-
: power these committees to continue
: their respective contests.
d POSTAL SAVINGS BANK OPPOSED
/ DENVER, Sept. 2S.-At the after
t noon session of the savings banl
= section of the American Bankers as
d sociation, the report of the commit
t. tee on postal savings banks was read
While it was evident that sentimen
was practically unanimous agalns
, the savings banks, and overwhelm
. ingly against the guarantee idea,
. respectable-sized minority tried t
= prevent action on the latter question
= holding that it was matter for
= convention of all the members OF tn
. association to decide upon, and nc
= for single section of the association
The report of the committee o
postals banks was as follows:
1. 1t is our opinion that unless In
= peratively demanded by public neeo
'l- the functions of the United state
X government should not, be extende
at to the spheres more properly occ'
pied by state governments or by co
porate or individual effort.
q. The savings system of the m
De jority of the states, with the model
facilities for transacting business
mail, are adequate to the needs
lily the people, and the safeguarding
Tor their deposits. 1t is evidenced by e
of record of this association that 1t
he the constant endeavor Of the bankil
Tor fraternity to improve these conditio
dr. in the remaining states.
OF 8. Although, in our opinion,
The great detriment will result to the
listing savings bank system from I
of establishment of postal savings
bar positaries, inasmuch as the prese
At facilities are superior to any II
'as- could be afforded by the governme
the or to those of the countries wn'
ag- postal savings banks now exist,
the previous experience of the UNI
'ur- States government in conduct
men banking institutions, and notably
de- connection with the Freedman .
will ings and Trust company, do not
courage us to believe that the