Daily Arizona silver belt., 1909-10-22
,p1ZONA BANKERS
 CONVENE IN GLOBE lcorr,nued from Page One)

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 o'n''. r +lp financial institutions not sal! ,,.;nr ,t; N fth the guarantee law. The rom ihot he majority has chosen to %y ,rrc tac guarantee law provisions o'S, ,ha, Ihr banks consider 1t good Sno", Tho Texas guarantee law is on mug s,lor, a good proposition. The 'n' '.,,,sr hanks pay interest, And nat suyIe 'W,, r, bulk of the deposits flows Ii",r f, the banks offering the high. '8 ,|,t | interest rates.
 M ,,Tbc aroument that one bank should La made responsible for another hol ,. r,sscs is sound to a certain eX DaaN If ]. ftting that guarantee law M gull ,Il nn make the degree of one nUIT' gT's Inability for another's mistake confscatory. ~, 1an..rtor is bound to use bank
 ,:,. hrsiness Therefore, it is right 8 p,t bo should be protected. There IS u", o,., merit on both sides of the ques- 1u The Iepositor should be told that OL Lo want, to place his money in the z hank on interest, he must run the same ;sL If loss that the bank has to con .nnt. 9% brt that if he deposits his money L;,Iort interest. he may have it guaran- ,.5 aoginst loss. This plan, as part national banking law, would be |# osrable. for as a rule, it would pro # aot tbe depositors in humble cireum- 'El torers who most needs protection.
 .T don t see any reason for the in .,osa of loss over past statistics. The ind of guarantee law mentioned above # ords to take off the pressure from the ,onks For if a depostor fears loss, he 4roives his interest and thus saves noDev for the bank.
 Invitation from Texas.
 M Through E. W. Kayser, of Fl Paso, invitation was extended for the ,orkers of Arizona to attend the conSE z ertioD of the Texas Bankers associa- on which will be held in Fl Paso next May.
 As members of the nominating com { pittee to present names of candidates {. or office to the association, the follow x nO men were chOsen: E. w. Kayser of 7 N Paso; J. NJ. Waring of Mesa city, md E. NJ. Hurd of Globe.
 # A letter from Hon. F. E. Beck, of he Anglo and LOndon-Paris National bank of san Francisco, who was sched- led to speak, was read by President
 J. Cunningham. In this letter, MT. eck expressed his regret that he was Unable to be present and announced hat the paper he had prepared would read by George P. Edwards, editor fl the Pacific Coast Banker.
 # Mr. Beck s paper, as read by Mir. Edwards. dealt with the subject, 'Par foints." The address follows in part V "If the laborer is worthy of his hire, hy not the banker also9 Some twen | yfve or thirty years ago, the profes- < on of banking was looked upon as Railing for the highest degree of conser atism and dignity. Many were the nwritteu laws that governed the poli- Z cS of financial institutions. The bank was frequently called upon to keen 2 discriminate in the matter of advanc funds wherewith various enterprises M ight be established, and become oney producers of a later period.
 Ut appears to me that in certain S rections, banks, in their agerness to Pcure business, are doing themselves an justice; assuming unwarranted risk Dd sacrificing legitimate resources of rOft. h order to make clear my leaning let us take up the constant of Prs that are being made to do some nfhInn Tho gn.nallaI Par Point, abuse is an example, but yen more far-reaching and pernicious an this is the constantly growing viI of the acceptance by banks on ash and at par on date of presenta on, anybody's personal check, payable ywheTe, the banks only security be- g the endorsement of its depositor.
 By this system the same depositor ho, day after day deposits as cash mllar checks thus has several thou AndS of dollars ahOat at all times on Inch he pays no interest, secured only hIs endorsement, and yet if this me customer were to ask for a laght loan from his bank on his sin name, of fifty per cent of his float ability, in many instances this loan ouId not be granted.
 This, l claim, is wrong principle
 banking and l do not hesitate to that during the panic there was no Ier cause that so unsettled confidence
 The fact that there were millions of
 liars In private checks circulating as Sh al over the United States. '
 Lynch's Address.
 An interesting address was made by On' James K. Lynch of the First Ma.
 naI bank of San Francisco His sub.
 ' was, ' Modern Tendencies and An eH, PrncjPIcs." Extracts of his ad. e'2 follow, in part:
 though still able to persuade myself a' am still young man, my bank
 'fa.nng was begun under condi- ", fadra.r different from these that
 ,' IooaN. There have been many Y''N'Ia. alterations of methods. but
 per down there are more important
 '"S.' ''hr of these is the tendency ""'a increased capitalization which
 everywhere manifest. Only few
 .' ago l"c largest bank capital in
 " fork WAS S5,OOOOOO. Now there
 ,1Ier hanks in that city with a cap
 ana SumrIus in ny.ngg ,F aOE ooO oon