The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1909-09-16
KEEP HANDS OFF
THE MONEY LAW
BANKERS DISPOSED TO AWAIT
THE REPORT or THE Al
DRIcH COMMISSION.


Chicago, Sept. 16.--"Hands off" !
the motto which is posted conspicu.
ously around the Auditorium hotel
where 5000 bankers from all parts o.
the United States are making theil
headquarters.
!. The sign is not printed, but never.
the less it looms large upon the hori-
zon because 1t pertains to the none.
tary system of the United States and
for the moment the bankers who are
| assembled in Chicago have decided tc
keep their hands off the money ques-
ton until the monetary commission
under the direction of Senator Aldricl
has made it's report upon the various
monetary systems in use in different
parts Of the globe.
The bankers declare that they are
not sidestepping the money system is
sue, but say that they have decided
as a matter of general policy to wait
the Aldrich commission report and
then frame a set OF banking laws
which will be the best that can be
had.
Aside from the monetary question
the bankers today took step which
they say will forever stop the agita-
ton for postal savings banks.
Plan to Stop Postal Savings Banks.
Every banker in the country, wheth-
er he be the president of a national
bank or merely the cashier in a little
country bank in town Of 1900 pop
ulation. is set against the postal saw
ings bank idea. They believe that
the men at the present convention
have solved the savings bank ques-
ton and that the people who are
clamoring for a government savings
depository viii be thoroughly salts
fed
The federal legislative committee,
after hours of discussion, decided up
on an important step. They passed
resolutions that federal law should
be enacted granting the right to ma
tional banks to establish a savings
department in connection with their
institutions
This is probably the most radical
step that the bankers have advocated
for years, and 1t is said that it is
bound to lead to bitter fight in the
convention before the end of the
present meeting.
This recommendation on the part Of
the federal legislative committee is
received favorably by the heads of the
national banks, but it is looked upon
with anything but favor by the saw
ings banks which are scattered
Throughout the country and with mill
lions of the boarded gold OF the toll
ers of the country in their big burglar
proof safes
Confer on Uniform Bills of Ladinu.
"The bill of lading question. one Of
the greatest commercial problems of
the day, will soon be settled to the sat
isfaction of bankers, carriers and ship
pers."
In that sentence Leads e. Pierson,
vice president of the association, voiced
the opinion OF the hundred and more
bankers carriers and shippers repre-
sentatives who held an All day CON-
ference on the solution Of the problem
of bills of 1ading as a basis of credit.
The resolutions for uniform bill of lad
ing laws were acted on favorably by
the executive council of the association
and will go before the convention for
final action.
Express companies and their issu-
lnce of express and money orders will |
De the subject OF criticism from spe-
'ial committee on that subject.
Guaranty Laws Upheld.
The convention of the National Asso-
'iation of Supervisors OF State Banks
vas held at which the supervisors from
ZACH state represented outlined the
condition of banks in their state. The
from Kansas and Okla
loma spoke strongly i'm favor OF the
laws now in force In those
states.
Interest will center tomorrow in the |
address of James j. Hill of the Great |
Northern Railroad company, who
speaks on National Wealth and the
Farm"
Listen to "UpcIe joe"
The bankers of Chicago gave a BAN
luet to the executive council of the
association tonight Joseph g. Cannon
speaker of the house of representatives, |
vas the principal speaker
This is a government by the peo-
ole," said Speaker Cannon. 1.-THE peo-
pie have their chance to speak every
-wo years. The government is no bet
er nor no worse than the people de-
nand. There must always be a large
lumber of people who follow certain |
leadership, yet they disagree with it
n order st0 make tha nraSaY1t daxy form, |