Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1909-09-17
BANKERS DIVIDED
ON POSTAL BANKS
Some Favor Them, Opposing Gen.
trail Bank, Others Oppose Them.
Tart Letter Is Read in Midst of
Discussion.

CHICAGO, Sept. 16.--The postal savings
bank question came to the. fore at the
meeting of the savings bank section OF
the American Bankers association con-
vention here today. In the midst of a
committee report, adverse TO postal saw
ings banks, and speeches deprecating the
entrance of the government into the
banking business, an open letter was re-
ce.ved from the Postal Savings Bank
league of the United States. The Letter
was addressed to George NJ. Reynolds,
president of the American Bankers assc-
cation and was signed by Julius Gold
zler, president of the Postal Savings
Bank league. In part the open letter
says:
1.-THE recent expression of officers OF
your association tend to show a spirit Of
opposition to postal savings banks, which,
while contrary to public opin;ous is also,
as we believe, contrary to the best in
terests of your business.
PLEDGED TO PEOPLES BANKS.
THE dominant party is most solemnlS
pledged to the establishment of the peo-
pies banks, yet In the same breath III
which you make a proposition In behalI
of the moneyed interests Ga central bank
under government supervisory, you ask
the legislative and executive to ignore
body of the people in platforms and in
official documents" 80
The league calls en- the bankers for as
sistance in securing postal savings banks.
Mr.. Reynolds showed the letter to a
number of delegates today, but no &C
ton was taken. 1t is said that the let
ter, If read at all. at the main meeting
tomorrow will fall for the most part on
unfriendly ears. Practically every speech
made so far at the bankers convention
has been adverse to postal savings banks.
CoincIoent with the meeting Of the
savings bank section of the bankers as
ISOLATION, the annual meeting of the Sec
retaries of State Bankers association was
held. Secretary F. E. Farnsworth made
his annual report, telling of the broad
ening OF the work OF the secretaries as
ISOLATION. In the savings bank section
the report of the executive committee
was read showing a gain of 113 members
and an increased interest in the Savings
bank section. The secretary of the Sec
ton made his report showing progress
and was followed by the report of the
committee on savings bank laws which
recommended the drafting OF laws to
safeguard savings deposits. The postal
savings banks committee reported ad-
versely to postal savings banks and sug-
gested that there is apparent change
of sentiment throughout the country or
the postal savings bank question.
DISCUSS REALTY MORTGAGES.
The question of real estate mortgages
for savings banks was discussed in an
address by r. n. WEIGH, of the San Fran
cleo Savings union.
1T is a question" said Mr.. WEIGH,
whether savings banks have not been
permitted TO drift away to another class
of institutions loans OF a character that
have proved exceedingly profitable to
those Institutions" ttt
In this connection he discussed loans to
the small borrower or the t'home builder,
repayable in monthly 81 tnstallments OF
moderate amounts. 49, -.
Edward 7. Robinson. vice president OF
the Eutaw Savings bank of Baltimore.
spoke of THE Department of Mercy" in
banking, and said:
GOSPEL OF HELPFULNESS.
I'm our savings banks the gospel OF
push does not crowd out the gospel of
helpfulness. Considerations Of profit are
subordinated to the great privilege OF
lending a hand. We must keep far from
the strife of business conquest and con-
tent ourselves by playing an humber
part The great opportunity we enjoy Is
the chance to be useful and faithful to
our trust"