The Pensacola journal., 1910-05-07

good fellows for the proverbial good
time," that is only incidental, while
the main object and purpose of the
association is the betterment of those
conditions which surround us as bust
ness men charged with q sacred duty.
Likewise / would also dispeI the idea,
if such exists, that We favor any sell
fish legislation, but we do favor the
passage of those laws which make
for honesty and the best interest OF
our state. and we do favor the defeat
of hastily prepared and untried legis
latiOn, much of which has been pro
posed in the last few years and
which will continue to be proposed at
each session of our law-making pow
er. Hardly had the nation settled
down to a period Of repOse from the
agitation for the free and unlimited
coinage of silver at 16 to l before we
were met-by the no less dangerous
and pernicious theory of deposits OF
our banks being guaranteed by the
sovereign power of the state. This
doctrine had its inception and was in
COTpOrated into the constitution OF
Oklahoma, state just born, new in
the practice of state craft and with
untried laws. This theory spread,
and strange to say found cOnsidera-
Bile following among the people of
older an dmOre conservative states.
1t showed itself in our legislature,
and when you hear the report of the
legislative committee of this assOcia-
tion I am sure you will bedelighted
to know of the decisive and success
full stand which your association
maintained against its corporation in
to our laws.
The federal congress is at its
present session considering the pas
sage of a postal savings bank bill,
and backed by the platform pledges
of a majority party the upper house
of congress has passed the measure,
but the bankers of this country have
analyzed the proposed law, and rea-
lize that what might be good for the
older and more populous countries of
Europe is not always best for our
republic, and fearing the cOncentra-
ton of wealth at some point to. the
detriment Of other localities they
have not been slow to speak their dis
approval of this proposed law. Con-
gress has heard their protest, and for
the time being at least has staid its
hand. Let us then, gentlemen, make
of our association an active living
force to be used in the defeat of vici-
Gus laws as well as for the propiga-
ton of sane legislation.
In the twelve months that has pass
ed since last we met. our state has
been wonderfully blessed. From
practically every section We hear of
great improvement and progress and
in many parts of the state the last
year has witnessed a phenominal
growth and development. The de-
posits of our banks are today far in
excess of that of any previous time,
and the banks are having little trOU-
legitimate borrowers to be used by
them in the main toward the further
development of our state. We are in
deed grateful for the blessings of the
past year, our manufacturing enter
prises are working overtime, and
while investments along this line are
not very extensive, still each day
shows an increase over the previous
one Our mines have been yielding
their treasures lavishly, our orch
ard and garden products are worth
more today than ever be lore, and
they "who tickle the earth with a
hoe" have seen their fields smile
with a bounteous harvest which have
sold on the market at splendid prices
Probably the most noticeable thing
during the year has been the Won
derful advance in the value of our
lands. The people of other sections
of the country are turning toward
Florida and seeking investments here
The wild and cutover lands which a
few years ago were considered of lit
tie value are today being sold readi-
ly at q good price, but there has de-
veloped, to our chargin, one phase OF
this real estate question which to my
mind will work lasting injury. The
promoter with his fulsOme red letter
ed advertisement has played upon the
credulity Of an unsuSpecting public
and through various schemes has
palmed off at enormous prices small
paroles Of land, not suited for the
purpose OF the purchasers. and too
often the migrant purchaser, has up
on seeing. the land he purchased,
folded his tent" and gone back to his
old home, poorer but wiser. Mil
lions of acres in South Florida rich
and valuable, specially adapted to the
cultivation of fruits and vegetables,
great tracts Of splendid lands in Mid
die, East and West Florida specially
adapted for the growth of cotton.
waits TO be honestly sold upon inspec-
ton to the farmers of other states.
Why will the people not come and
see for themselves, and not listen
too much to the willy promoter?
I could not address you on this oc-
casion without an expression of ap-
probation of the excellent manner in
which the Hon. Lawrence 0. Murray,
comptroller of the currency. is con-
ducting the affairs of his. office. To
this high office which he has filed
with signal ability, he has brought a
profound knowledge of the national
banking system, and with matchles5
hands has sought to make it strong
where strength is needed most. The
peTfunctOry examination has been at
tackled by him and the effort of the