The Birmingham age-herald., 1912-02-21
]. H. CRAWFORD AND
 HARDING SPEAK
Address Local Banking In-
 stitute Members
CAUSE OF 1887 PANIC
MT. Harding Gives Review of Finan- ciaI History of Country, Giving Cause of Good and
 Hard" Times

J. H. Cranford, president of the First National bank of Jasper, and W. r, G.. Harding, president of the First National bank of Birmingham, were the speakers before the Birmingham chapter of the American Banking institute in the as sembly room of the Chamber of Commerce last night. A large percentage of the membership of the chapter was present at the meeting and the addresses of the two presidents were roundly ap- plauded.
 The meeting was presided over by Otto Mooney, president of the Birmingham chapter of the institute. He intrAduced J. l.. Cross of the First National bank as the first speaker. MT. Cross deliv- cred a short talk on Public Speaking in which he urged all of the members or the chapter te pay more attention to the art of public speaking and said that the programme committee had made preparations for talks from each mem Der in the near future.
 W. P. G. Harding was then called on and spoke for some length on a review of the financial history of the United States. Mir. Harding started with the signing of the declaration of independ- ence in 176 He followed the economic history of the country from that time up to the present. He told of the different party platforms of the last 100 years, their connection with the financial life of the nation and their effect upon the people.
 Hamilton a Genius
 He described Alexander Hamilton, as "a most remarkable man with won derful genius for finance" He described in detail Hamilton's plan for the treas ury, told of it's sound financial theory and how necessary 1t was at that time for the forming of great central bank.
 Concerning President Jacksons attitude toward the National bank, MT. Harding said: "When Andrew Jackson was elect ed to the presidency in 1928 Nicholas Bid dle was president of the Bank of the United States in Philadelphia. Like most presidents of large corporations he be- came somewhat arrogant. The 20 year of the Bank of the United States was to expire in 1887. Upon Jackson's election in 1882 MT. Riddle wrote to Jack son, stating that he did not care whether Jackson chose to recharter the bank or not;Ath Riddle was greater man than Jackson and that the bank could get along all right It was here that An drew Jackson became an enemy of the National bank ! In 1855 he ordered the Secretary of the Treasury to draw the government money from Biddles bank and place it in a number of specified state banks. The new secretary met a like fate but the third one drew the money out. The result was that during the years 1885, 1886 and 1887 large num- Der of state banks found they had much more money than formerly and so spec ulation was induged in to a great ex- tent. The result of this speculation was the panic of .1S37.9 seii -is- --.
 Financial History
 MT. Harding followed the financial his- tory of the nation on down through the panics of 1857, 1873, 1893 and 1907, telling the direct result in each case He ad- vised the members of the chapter to read up on the Aldrich monetary bill and to get up a local debate on the matter He concluded his address by offering a prize of s15 to the member of the local chapter of the American Banking insti- tute who writes the best essay on some subject pertaining to the banking business. The essay must not be longer than 1000 words and the prize will be given on June l, 1912.
 J. H. Cranford of Jasper was the next speaker and delighted the audience with a number of droll jokes and remnis- censes. MT. Cranford said that speech making was not exactly in his line He emphasized the words "benefit' and 'pleasure'' as having to do a great deal with the success of young man in mod ern life.
 At the conclusion of the address the chapter offered the two speakers a vote of thanks for their talks.