The Birmingham age-herald., 1909-09-20
HARDING TALKS
 -OF CHICAGO TRIP Greatly Impressed By Speeches
 At Convention AGAINST GUARANTY LAW National Bankers Association Also Opposes Postal Savings Banks. Visitors Lavishly Entertained
 By the Chicago Bankers.
AGAINST GUARANTY LAW

w. P. G.. Harding, president of the First National bank of Birmingham, who returned Saturday afternoon from Chi cago, where he had been to attend the meeting of the American Bankers asso- ciation, was much pleased with his trip and was greatly impressed with the ad- dresses he heard In speaking last night of his visit to Chicago MT. Harding said;
 '.The thirty-fifth annual convention of the American Bankers association was perhaps the largest in point of attendance in the history of the association, about 4500 being registered out of total mem- bership of nearly 11,0OO.
 '"The features of the convention pro- gramme were the annual address of the president MT. George M. Reynolds. presi- dent of the Continental National bank of Chicago; the report of the committee on federal legislation, and the addresses of James J. Hill, chairman of the Great Northern railway; Lawrence o. Murray, United States comptroller of the currency, and James B. Forgan, president First Ma tional bank of Chicago.
 <A i6o pat Ol MI. 1ecy hOihS e1ddi Oo1 was devoted to a plan for the permanent adjustment of our financial system by the establishment of central bank with a capital of not less than s1O0,O00,oO which should not receive deposits, but which should be bank of issue only. By dis counting paper for other banks exclu- sively the central bank could give elas- Al f.,v I AT contracting it's note issues to meet the legitimate demands of commerce. l was reliably informed that MT. Reynolds dis cussion of the central bank is a forecast of the report of the currency commission of which Senator Aldrich is chairman and which will be presented to Congress next December.
 ''The committee on legislation made a strong report condemning both the guar anty of deposits idea and the plan for postal savings banks. The sentiments of the committee were concurred in by an overwhelming majority of the convention, and the association will make a strong fight against postal savings banks and against mutual guaranty of deposits by banks.
 MT James J. Hill in his address, dwelt on the diminishing food supply of the United States, and pointed out that throughout all ages nations have fallen with the decline of agriculture. He deprecated the tendency of country raised toys to leave the farm for the city, ant showed that unless greater attention was given to scientific agriculture the United States would within 10 years be large importer of corn and wheat. He advo- cated agricultural schools, and said the salvation of the country depended on in- tensive farming and on increased yield per acre.
 Comptroller Murray made a forceful address on bank supervision, and showed what he was doing in the way of bank examinations and the enforcement of na- tional bank laws. He pointed out that nc national bank, conducting its bushes in strict conformity to the law, had ever failed, and announced his intention Of en- forcing the law so that national bank failure would be impossible. He went on record against guaranty of deposits
 "The Chicago bankers spared no pains or expense in the entertainment of the as sociation and provided cards to down town and country clubs, telegraph franks trip to the stock yards, steamer ex- cursion to Gary with a train ride through the immense furnaces, docks and steel mills there. mammoth theatre party fill. ing three of the largest theatres with convention delegates and visitors, and a grand ball Thursday evening at which President Taft was present. Besides this there were innumerable luncheons, dinner parties and banquets.
 This was my first visit to Chicago in two years, and I was struck with the growth of the city and particularly with Its development along. the lines of the city beautiful. With its lake front and ex- tensive boulevards 1t is fast becoming the peer of any American city in beauty.
 "Its banks have now the largest deposits in their history, having increased eight fold in F years; it's streets are crowded, ita industries are in fIll blast And yros