The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-11-21

tens, adding an admonition to hope
for the best and 60 forward
The addresses of welcome came at
ter the invocation, which was by the
Most Reverend James H. Blenk, Arch
bishop of the Catholic Diocese of New
Orleans They were followed by the
response of the President of the Bank
ers' association, F. O. Watts, of Nash
vile, Tenn.
Laments Criticism.
President Watts began by lamenting
the attitude of some classes of per-
sons toward bankers in general "be-
cause our activities are too often
either misunderstood or purposely mis-
represented" He spoke exultingly Of
the increase in membership of the
bankers association during the last
nine years from 1884 to 1922, COM
menting that "the accomplishment and
promise are fully in keeping with the
numerical increase" He announced
year.
Turning to the subject of the AID
rich plan," he said: 1T is to be hoped
that the present convention will give
it's approval in such positive way
that the whole country will under
stand that the bankers have at least
agreed with practical unainimity on
the cause of financial unrest and its
| remedy.
NO banker should lose an opportu-
nifty to urge that the settlement of the
question be apart from partisanship or
to help make it clear to the country
that the proposal is such that it will
always be away from the control of de-
| signing politicians or of any selfish in
terest. If the bankers and business
men, who must be the leaders in the
movement, succeed in keeping the
! question non-partisan and in convinc-
, ing the public beyond reasonable
doubt of the integrity of the control,
then it's enactment into law will be an
easy accomplishment.
Capitalization Plan.
Fortunately, we have the hearty CO.
operation of many commercial and
business organizations, and We need
only to do our part we'll. Surely there
is no good reason why the question
should become partisan one. There
is no party principal involved in such
a cooperative agency and nothing but
prejudice or the extremity for an is
sue, which certainly does not exist in
| this day, could cause either of the two
great political parties to treat the sub
| ject differently from what they should
proposals for good health or pure food,
or river improvements, or the building
of a great canal. If by any chance it
drifts unavoidably by the bankers and
business men into a partisan align
ment, the only hope of making it an
effective issue to the party opposing
the plan would lie in it's ability to ap-
peal to prejudice through talk of cen
tralization and control by special in
teresr. Neither proposition could be
maintained before the thoughtful citi-
Zenship of this country, and when the
light of reason entered, the party max
ing such an appeal would suffer as
such parties have always suffered in
the past.
I'VE can show that instead of being
Capitalization the proposal is decen-
tralization, the power coming to the
central agency for all banks in just
such way as the power is placed in
the chief executive of the nation. The
president becomes the composite of
American ideas, and when not so there
occurs a shifting of authority. So the
Central Reserve association would al
ways be the composite of the share
holding banks, and, therefore, stand
ing for the best in our business life"
The presidents address was follow
ed by the annual report of the general
secretary, Fred E. Farnsforth, of New
York. and by the report of the treasur-
er. Arthur Reynolds, of Des Moines,
Iowa. Mr.. Reynolds reported an in
crease in the balance in the associa-
tons treasury during the last year
and volunteered the expression that
The American Bankers association
is to day one of the greatest organiza-
tons of its kind the world has ever
SEEM
Report on Legislation.
The report of Thomas B. Patton, OF
New York. the general counsel, was
confined a|uost entirely to the subject