East Oregonian : E.O. (Pendleton, OR) 1888-current, 1909-06-25

oOSSNNSSSS-SOS-
Gentlemen of the Oregon State
Bankers Associations l would be un-
grateful, indeed. it, in making these
few remarks. which must be accept
ed as the presidents annual address,
did not express to you my sincere
appreciation of the honor conferred
in my election to the high office of
president of this association. 1t is
not necessary to say to you now that
to be so honored was more than graf
flying. If you will but continue to
be patient and charitable for a few
| hours more, and If | can by contin-
ued good fortune and earnest desire
retire from the position still holding
your friendship and esteem, it will be
a part of my life to look back upon
my membership in the association
and the honor it conferred with the
greatest satisfaction.
During the year the association
has grown and prospered A year
ago we began a campaign having for
its object the increase of member
ship to include every banking insti-
tuition in the state, in which, while
we did not attain complete success,
the results obtained were the most
satisfactory and encouraging. The
banks of the state have likewise pros
pered showing increased individual
deposits of seven and half millions,
with increased loans and discounts of
more than four and one-half millions,
indicating that all branches of indus
try in oregon are in a thriving condi-
ton, enjoying the prosperity which
the magnificent resources of the state
insures.
"To my mind there is no branch of
commercial industry which can reap
the profits and enjoy to the full the
benefits of thorough organization
equal to the banking institutions hav-
ing a membership in the State Bank
ers' association Our declaration of
principles: TO promote the general
welfare and usefulness of banks and
banking institutions, and to secure
a uniformity of action together with
the practical benefits to be derived
from personal acquaintance, and the
discussion of subjects of Importance
to the banking and commercial in
terests of the state; and especially in
order to secure the proper consider
alton of questions regarding the
financial and commercial usages,
customs and laws which affect the
banking interests of the state of Ore
gon, and for the protection against
loss by crime'-should appeal to
every bank in Oregon as an organ
ization which should be encouraged
and strengthened by its membership.
Legislative Committee.
'At our last session a resolution
was adopted directing the president
to appoint a Legislative committee
to use its influence in urging the
adoption of such laws or amend
ments to our banking laws as in its
opinion would be to the best interests
of the banking institutions of the
state.
"Their report will be submitted for
your consideration.
THE state banking law of Oregon
has been in force too short a time to
demonstrate its strong points or de-
velop its weaker provisions, so 1 ap-
prehend that there was little to do
other than discourage the adoption
of unwise or experimental legislation.
The art of self-government is so thor
oughly ingrained in the American
people that, in some respects, they
other than to protect the honest from
the dishonest, the straightforward
from the scheming, the careful and
conservative from the reckless and
extravagant speculator.
"As bankers, we receive our de-
posits because of the confidence of
our customers in the honesty and
good judgment of the institution in
the conduct OF its business. AS bank
ers, we loan the banks funds to a
llOl oO upOll liC &c
curlty offered as upon our confidence
in his personal honesty and ability to
pay. OF course, the law wisely COM
pels us to require security as an ad
ditional safeguard against the i'm
position of INSCRIPTIONS; yet where
a banker has the least intimation
that the borrower does not intend to
pay, or expects to shift the RESPONSE
bilty to his sureties, he will not
make the loan. So that, under ordi-
nary circumstances, we need no laws.
Confidence of Depositors.
"The confidence of depositors has
always been esteemed as their best
asset by all banks of all times, for
all have realized that the bank has
never been so big nor so strong that |
it could long Withstand loss Of conf
dence.
Loss of confidence is not always, |
and, in fact is but seldom, justified. |
When it exists 1t is generally, If not |
always occasioned by the bad and |
reckless banker, who, in the first |
place, should never have been in the |
banking business. After it is lost, the
1epositor is no respector of persons