The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-04-09
BANKS AND BANKING"


OhiNMDHiA ANnOOA AAiiAN 1OnInAHNAohf
before the annual meeting OF the bank
ers ct Group 81 Of the State Bankers
association here yesterday Afternoon
on Banks and banking:
1T Is With sone degree of reiact-
ance that / attempt at this iunlture
to address you. However. my re-
marks may be more or less scatter
Ing yet I trust I may touch upon
some points that pertain to the busi-
ness interests and welfare OF every
one OF YOU, and especially to those
whose whole life and work constitutes
potent constituent in the writing
and developing of the history of our
nation.
A few days ago in yonder metro
politan city upon the brow-beaten
shores OF New England, an alarm was
sounded a crisis hard and SOFT
money panic was launched upon the
Ieople without cause. Launched up
on the great masses, the agricultural
and the laboring interests, the toll
ing ppd the employed masses Of she
citizenship OF nation 1t was,
say launched without cause. re-
mark that when the great prosperity
TO which the American people had at
tanned especially The United states
OF America. in 1907 when wealth Of
body and mind, and life and strength,
and when the possibilities Of human
EFFORTS were taxed to their utmost,
and c1inmanding she respect and ad
mlration of foreign nations. mel, OF
influence, periodicals and the press In
It's entirety everywhere. We're exalt-
lEg This Republic for having reached
SC nearly a satisfactory goal. | say
that there was no reason or excuse
to have financial panic thrust in
to the very face of our commercial
success, It's varied business interests,
choking the practical, economical acts
of conservative banking ami fnancer
ing.
A small grao Of bankers, called
by name. a clea house committee,
Ga very good OF 1ization. however
but not possessed or clothed with amy
authority of law known to any con
stitution or upon any statute book OF
the states of the Unionl, went at q
most quiet hour Of night time to SOME
three OF the wealthiest lhea of the
) city OF New York, multi-millionalres,
and compelled these individuals OF
millions. without formality, TO endure
large financial losses, to separate
themselves from many of their valued
possessions, and further, forced these
men to retire in resentful disgrace
from positions of affluence, posiuons
1f honor at the heads o flarge none
center banking institutions. where
public opinion, the inevitable club,
reauired these frenzied lnanclers 70
swallow their own anger in partial
obscurity for the lack Of sympathetic
encouragement at home.
Public opinion is the awful foree
which drives the individual OF q state
10 the necessity Of turning the search
light into ones own soul, and vol
unfairly exposing to the lime light at
least the deed which states and an
tions recognize as not being economic
an1 safe
a condition Of Affairs So awfti as
,sas that condition in yonder easter
CITY early in October, 1907, should
never be tolerated again. nor perpe-
trated upon the people within the
next one hundred years in this com
monwealth.
The individual is the unit OF society
and the unit OF government. aud the
whole people possessing the power
and the greatness OF which the inhab'
rents of the United States are pos
sessed, shows that a predicament
such as was this recent unbusiness.
Ike disturbance. calls for the best
ererev of America manhood in the
rroper manipulation of the legislative
ara executive branches of our Govern
ment Self government will reach us
ideal when thoroughly understood by
the thinking masses Of a great re
public.
Origin of Panic
Tracing origin Of panic Is dihicult
II may be unsafe In some communlties
bnt If were TO give serious considefa
ton would probably see IN the hah'
writing of Henry ID. Lloyd the ilrs
EFFORT as an influential explorer O
some Of the weaknesses Of legislator
Of our great constitutional TORN o
Government After him We might re
fer 10 the writings OF Thomas w Law
son, and then Ida Tarbell Lncoh
stenens. and ether writers VINO nav
nv the aid of the press, and win tn
moral influence given 70 the readlnl
uublic from such state officers as Jo'
Folk Of Missouri LaFollette OF Mll
nPgOfa. Johnson OF Mihh'"o'"i
Hughes Of insurance fame, OF New
York. in the exposure OF wrong an
the punishment OF crime meted oul
have done their part, possibly a
bringing 10 focus the initial cause 10
these frenzied financiers 20 produce a
alarming disturbance In the economl
welfare OF the business interest OK
people.
The West and Central Wesi OF On
Tinted states having reached so srea
degree Of prosperity within me las
year should have never had THIS III
eoualed prosperity shaken. fele
briefly 10 a number of the deyelol
menis OF the year 1907, indicative
hsri great possibilities.
The dirigible air snip where
Germany, France and England, as su
cessfnlly operated by their soldier
is an American development OF 1907
Fdison's stone cement house, brln
ing sceh valuable structures withl
the reach Of every poQr man IN "a
way of procuring himself a home
..,.a.f lff44rn uhfu "1nrIEiIdNt