The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1909-09-15
WARNING BY HILL
mAnRoAD MAGNATE SPEAKS TO
THE BANKERS.
ueurce OF Food supply, He Says, II
serfoas Problem--Pferson Next
President or the Asso-
Ginffou.

Chicago, Ill. Sept. 14.--Warning
Chat the United States may soon cease
70 be an exporter OF food stuffs was
given 70 the American Bankers As
sociation at the close of the first days
aession OF the thirty-ffth annual con-
vention Of the organization here today,
by James J. Hill. chairman OF the
Great Northern Railroad board.
sThe idea that we feed the world
IL being corrected" said Mr.. Hill. "and
unless we can increase the agricul-
<ural. population and their product
the question OF a source of food sup
ply at home will soon supersede the
question OF q market abroad"
This possible condition the speaker
laid to the increased tendency OF the
rural population to forsake the nelds
and agricultural pursuits for city life
ana in support of II, he cited the de-
crease in value of farm lands In West
ern States and contrasted the diner
snce between European countries ana
those Of the United States.
The words of the railroad magnate
were received with deep interest, and
followed an address by Lawrence y.
Murray. Comptroller Of the Currency.
The Comptroller emphasized the ne
cessity of cooperation between the
COMPTROLLER and the national bank ex-
aminers and pointed out that the bank
examination has been raised from a
pcrfunctory review to systematic
investigation by trained officers
Referring to the guaranty of bank
deposits Mr.. Murray said:
sI believe in just one kind Of guar
antv of deposits. believe in the
guaranty which comes from the Comp
trolier of the Currency doing his duty
under the law, from the bank exam
inars doing their duty and from the
executive officers and directors of the
hank doing their duty. That Is prac-
tieable and does not cost the banks
an extra dollar nor permit deposftors
to lose a dollar
In his annual address. President
George M. Reynolds declared in favor
or q central bank with a capitaliza-
ton OF not less than s100.O00.000 as
q means of avoiding financial disturb
ances similar to the panic of 1907.
The delegates were welcomed tn II
iinois and Chicago by Governor
Charles s. Deneen and Joseph T. Tai
boot, president of the Chicago Clear
ing House Association. and on behalf
OF the visitors, response was made by
Colonel Robert J. Lowry. of Atlanta.
Ga. formerly president Of the bank
ers' association.
A pause In the regular program OF
the day was made to permit Speaker
Cannon to address the bankers and
later the reports of the secretary and
treasurer were read. showing the
bankers association in point of mem-
bership and financial standing to be
In excellent condition.
Some criticism of the express COM
panies acting inA dual capacity as
bankers and common carriers was in
cluded In the report of the express
companies and money order commit
tee which reviewed the course of the
litigation by which the association is
seeking to GUST the express companies
from the banking field.
Work of the bill of lading commit
tee was outlined to the convention by
the committee chairman. l.. e. Pier
son. informing the delegates of the
point of using uniform bill lading
laws and the necessity of further eff
forts in that direction. The resolu-
tons adopted on the bill of lading
subject Monday will be taken up later
in the convention.
After the adjournment of the regu-
lar session. James ). Sherman. vice
president Of the United States. sur
prised President Reynolds. who was
Just explaining that Mr.. Sherman
could not attend the gathering, by
stepping to the platform and saying;
Here Is Mr. Sherman now"
The Vice President, who was sched-
uied to speak tomorrow, but had can
ceiled the engagement. stopped few
hours in Chicago today on his way
from Kansas CITY, 20 his home in
Utica.
'sMr Hill made strong speech"
said Mr.. Sherman. but IL 1 were talk