The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-01-16
Citizens League Of Kansas Bust
ness Men Organized.
Abilene Man Heads State Plan
for Sound Banking.
THOMPSON GETS I
TOpekan Named as One of State
Vice Presidents
Hope Is to Prevent Loss and
Hard Times.

Abilene, Kan, Jan. lev. A. L.
Thompson, president of the w. A. L.
Thompson Hardware company, of To-
peka, has been selected as one of the
vice presidents of the Citizens league
of Kansas, which is affiliated with the
National Citizens league for the pro-
motion of a sound banking system.
The organization has just been made
in Kansas with c.. M. Harger OF Abb
lene, as president The vice preSi-
dents include some of the best known
business men Of the state: Chancellor
Frank Strong of the University of
Kansas; Ex-Governor W. J. Bailey OF
Atchison; E. r. Moses of Great Bend;
S. F. Woolard of Wichita; B. J. Sher-
idan, Paola; r. D. Iafferty, Winfield;
G. E. Tucker, Eureka; James A Kim
ball, Salina; G. W. Lands of Osborne;
W. 7. Morgan, Hutchinson; Charles
w. S1nyth, Wichita
Business Men Start 1t.
The movement is one that was
started by the business men of the Ma
tional board of trade last year and
was a result of the conditions that
followed the panic of 1907. 1t was
realized that something is necessary
to insure to the business interests of
this country the accomm datiOns to
which they are entitled in time of fin
ancial stringency. The league advo-
Gates the suppression of pantcs and
hopes to see a condition under which
disasters to soundIy managed business
institutions in times of financial stress
will be impossible. It has no bill or
its own, is not committed to the plan
of any interest or individual, nor does
its own, is not committed to the plan
It's position is clearly stated in the fol-
lowing seven principles which it hopes
to have incorporated into law:
Cooperation, not dominant central
ization, of all banks by an evolution
out of our clearinghouse experience.
Protection of the credit system of
the country from the domination of
any group of financial or political in
terests.
Independence of the Individual
banks national or state, and uniform
treatment in discounts and rates to all
banks, large or small.
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 currency.
Elasticity of currency and credit In
times of seasonal demands and string
encies, with full protection against
Legalization of acceptances of time
bills of exchange in order to create a
discount market at home and abroad.
The organization Of better banking
facilities with other countries, to aid
| in the extension of our foreign trade.
Just how this shall be worked out
| is matter for congress, backed up by
the business men of the country, and
| organizations in twenty-nine states
similar to the one in Kansas have al
ready been formed.
No Politics in 1t.
| The central organization is at Chi
| cago with John V. Farwen as presi-
dent and J. Laurence Laughlin OF
University of Chicago, the well known
| auth Ority on economics, executive
| chairman. Cyrus M. Mccormick, the
manufacturer, is one of the directors
| The movement is entirely non-part1-
san and non-pohtical. Among the
state presidents are ex-Governo o.
/ Douglas of Massachusetts, John Claf-
| lin, the New Yorw merchant, Ike L
| Pryor of Texas and Ex-Governor Hag-
erman of New Mexico.
| The demand and feeling among
business men that they should have
| som ething to say about the ftnancia
| legislation of congress, particularly a
| the present session, has resulted II
| the leagues organization Through l.
| it is hoped so to arouse interest anc
stimulate discussion as to guarantee
| that when new legislation is ado
it will be of kind satisfactory to the
| busin interests of the states. Th'
demand that banks should always bt
ready and able to meet their cash OBJ
legations on demand and that the!
, should always be able to loan to theil
customers to the extent of the proper
and legitimate credit OF the latter ar
| a part of an efficient bank system a.
seen from the business mans point o
view. It is for a system embodyint
| these principles that the citizens
league of Kansas stands
1t hopes to arrange for public meet
ings in different parts Of the state a
which will be discussions of the sub
tect and to place the opinion OF busl
ness men and others in such form a
to permit its effective presentation t
congress.