The Birmingham age-herald., 1912-09-11
NATIONS BANKERS
 MEET IN DETROIT Associations Constitution Will Be Rewritten R. w. BONYNGE SPEAKS Says Now Is Time for Critics of Pro- posed National Reserve Associa- ton to Point Out Defects
 of the Plan
R. w. BONYNGE SPEAKS

Detroit September 10.-By quiet and skillful parliamentary maneuvering An drew J. Frame Of Waukesha. Wis. at the annual convention of the American Bank CTS association this afternoon dictated the personnel of a committee which the organization previously had granted the power of rewriting the asosciaton's con stitution. The committee was ordered to report at the spring convention.
 MT, Frame was the author of an amendment 10 the present constitution which proposed To change the mode of electing officers. The amendment charged that ten men have held 150 prominent of- fees during the last ten years and that the expenses of the association have been unnecessarily high. This afternoon the executive council reported unfavorably on the amendment. stating that it was generally admitted that a complete re- vision of the association's organic law was necessary and that the matter would be brought before the present convention later.
 Accept Frame Committee
 After MT. Frame agreed to withdraw f+'' e'H'thAfhtit hllliI tue tpINtUllDn 6fIf1 on the constitutional revision motion was made to take up that matter at the meeting next spring. Then the Waukesha banker named as a prospective commit tee R. E. James, Easton, Pa: W. J. Bailey, Atchison. Kas.; o. E. Dunlap Waxahachie. Tex; C. II. McNider Charles City, Iowa; Gordon James. Den yer; accepted Sol Wexler New Orleans, by request. to give the south representa- ton and hen informed the convention that if they accepted his committee as named. he would withdraw his constitu- tional amendment There was severe op- position and President Livingstone took two votes. He then decided that the convention had chosen the Frame com mittee.
 The clash over the Waukesha mans amendment proved 10 be the only unusual feature of the afternoon session The re- mainder of the day was devoted to read ing reports of various sections affiliated with the national association.
 With today's adjournment to Friday. the members of the association proper looked forward to two days of recreation.
 The annual ball was held tonight at a local hotel.
 Speech making was the order of busi- ness at both sessions of the convention of the National Associa ton of Supervisors aof State Banks.
 Nearly all of the speakers were state banking commissioners.
 Bonynge Speaks
 Now is the time for criticism of the proposed National Reserve association recommended by the national monetary commission. to come forward and point out what they believe to be defects in the plan in the opinion of Robert w Bonynge, a member of the commls- sion. who addressed the American Bankers association in convention here today. MT. Bonynge's address was on Banking and Currency Reform" He spoke. in part. as follows:
 The defects in the existing system that must be remedied no matter which party is charged with the responsihil- fly of framing the Legislation are: Our unscientihc treatment of bank reserves, the rigidity of our entire credit sys- tenn and the lack of co-operation be- tween our independent banks. ! Our present reserve system re- stricts the loaning power of banks at times when reserves should be freely used and credit literally extended to solvent business men and thereby in- tensihes. if 1t does not actually pro duce panics Our scattered reserves are wholly ineffective for use in emer- gencies our bank notes do not fluc- -----~-~~~ (COntInued on Page Nine.I