The Cairo bulletin., 1910-10-27

Importance and we should unceas.
insly delye into the problem unit
we evolve therefrom a solution wor
thy to be added to the inancia
structure we have already so wei
and firmly built,
Oar last panic was provoked b,
a defect in the eountry's monetary
system. Banks had an abundance
OF good collateral. but at the critica
moment bankers were unable to con
vert the excellent collateral int
what their frightened depositors
wanted-hard cash. Of course IL the
currency scheme of the United
States mad been what 1t should
there never would have been a finan-
cial furry. The point is, then. first
to prevent a loss Of confidence, and
second, If confidence Is shaken des.
pite all precautions, 10 have an in
strrn.ent In hand which will stop
the panic As you are we'll aware,
several plans have been submitted;
one, the Emergency Currency Bill,
passed by congress. But as perfec-
ton does not come In a day, 1t will
do no harm to study and discuss the
question from every standpoint. The
Aldrich measure mas not yet been
tested practically. Many bankers
doubt its efficacy. Some lawyers
are not sure whether the bill Is real
ly constitutional. The more reason,
therefore, that this important mat.
ter should be kept a live issue.
However, behind the building lis the
builder, the man behind the gun. and
In order to make a monetary system
however highly deyeloped) really
effective. yor u after all, have
confidence in the banks who utilize
it.
All this is general. We will now
core down to family particulars. to
tire status of our Association. In an.
other year We shall have. attained
our matoritv-we will be twenty.one
years old, or ratheryoung. We can
say With truth and without boast
that we have been abreast Of the
times, thanks TO my very able pre.
decessors in this office. In the
speedv vet certain p~rosnerity of our
great State, our Association has
grown proportionately rapid and
useful. Aside from the good fellow.
ship 1t has fostered, its practical ad.
vantages have been many and all.
promotive. The very fact that our
membership is larger that that or
any State Bankers Association. ia
evidence of the interest taken IN orr.
Society and is also a guaranty of our
greater future.
To make that guaranty doubly
sure, we require only hearty CO..
operation on your part, a united eli.
tort as 1t were. AS already stated
there still are some bankers who are
not OF us. Let us get them in. Let
no eligible banker escape. Let MS
make this the most powerful. the
most effective, as we'll as the largest
organization of the kind in the coun.
try. In the last twelve months the
record was broken in the matter of
new members.
We must break that record in the
coming year. | am sure that the
next administration will achieve that
distinction.
Il assure my successor that the
recruiting of members Ii only onel
OF the many, many pleasures and in.
SEPARATIONS of the office which / va.
cate with happy wishes for my sue.
ccsso..
| shall indeed esteem it a highI
privilege to bestow upon whomsc-I
yon may choose as President.
the heirloom OF Colonel Halliday. an
ex-president of this Association
Cairo's most distinguished citizen.
whom we all cherish in memory, who
i~nausurated the beautiful custom OF
transferring the emblem from presi.
dent to president.
| am glad to be in Cairo today;
Cairo the mead Of deep water navi-'
cation, the cit that rs half northern
and half southern, the better half OF
each; the place where both the
north and south are appreciated and
where that fusion is bound to be-
come n of the chief elements OF
the city's further strength and pros.
| cannot speak too highly in praise
of the assistance and uniform cour.
tesy offered me during my term by
your yice-president, Mr.. Crabtree.
b the executive council and Its chair
man and by the officers Of the iiif-
ferent Groups. They have all been
Of great help in an office whose i'm
portarce I realize the more fully as
I resign 1t to my worthy successor.
And in this connection, I must again
thank Mr.. Champion and Mrs. Jen.
nings for their yaluagle and efficient
service.
TRIP ON THE RIVER