Weekly journal-miner., 1911-11-15

section or the NdIlOHdl NlllLtHS League for the promotion of a sound banking system, explained the aims of the league as follows:
 The National Citizens league has been organized by practical business men, quite independent of the mon etary commission, to aid in the for mutation and completion of a sound banking and currency system, based upon sound principles and calculated to promote the financial strength and safety of this country. It is a scien- tifie economic question and it is of the utmost importance that there should be no division or contention on political lines. It concerns all the people and all the interests of the country alike and there is no public question or reform before the eoun- try today, in which the business men are more interested than in sound banking laws. It is not a question that affects only the banks and large financial interests-On the contrary, the small merchant, the farmer and laborer, are equally if not more in terested. The large sound institutions can weather a panic. but the first man hit in a financial crisis is the smaller business man or artisan, whose loans are cut off when mostly needed. On the other hand, a good banking system, a system upon which banks can depend for cooperation and re-discount facilities in times of ex- pansiOn or stress, will eliminate pan ics and help to bring about general 1prUsperity. To aid this reform in banking and currency laws, to edu- cate the public to the proper laws required. and to secure the final pas sage of such laws by our senators and congressman, is the object of this league. The basic principles of reform agreed upon, are as follows:
 1. Cooperation, not dominant cen tralization of all banks by an evolu- tion out of our clearinghouse ex- | perience.
 ?. Protection of the credit system of the country from the domination of any group of financial or political | interests.
 3. Independence of the individual , banks, national or state, and uniform treatment in discounts and rates to all, large or small.
 4, Provision for making liquid the sound commercial paper of all the banks. either in the form of credits or bank notes redeemable in gold or lawful money.
 5. Elasticity of currency and credit in time of seasonal demands and stringeneies, with full protection against over-expansion.
 6. LegalizatiOn of aeceptances of time bills of exchange, in order to create a discount market at home and abroad.
 :. The organization of better bank ing facilities with other countries, to aid in the extension of our foreign trade
 It is recognized that these aims will be realized by the creation of , National Reserve association, safe guarded as to control from political or financial interests, and with branches to facilitate the require ments of the various sections.
 The literature issued by the Ma tional Citizens league treats the sub ject in detail, and the league will l take pleasure in supplying such at all times.
 After an informal discussion of the | subject and a full approval of all | those present as to the necessity of i such organization, the following lead ing business men were elected as the first board of directors:
 Dwight B. Heard, Dr. A. J. Clan dler, Charles Goldman, Phoenix; W. i H. Brophy, Bisbee; II. A. Morgan, Wilcox; J. C. Greenway, Warren; Dr. | Arthur H. Wilde, Frank H. Hereford, Phil c. Brannan, Tucson; Hon. Ed. ! W. Wells, Thomas G. Norris, Pres l colt; Charles Babbitt, T. A. Riordan, Flagstaff; Hon. G. W. P. Hunt, Judge Frederick s. Nave, Globe; W. T. | Webb, Pima; Charles F. Solomon, Stafford; David Cole, Ray; J. E. O. Connor, Florence; John R. Hampton, F.. M Williams, Clifton; C. R. Baker; E. F. Sanguinetti, Yuma; Edward | Titcomb. Nogales; Fred Coulter, St. | Johns; Ben Sehuster, Holbrook; O. D. | M. Gaddis, Kingman; Hugo J. Donau, George w. Dietz, Tucson