The Washington times., 1912-09-15
During Perodof Money Strain Through Great Crop Movi1g to
IN LOCAL FINANCIAL CIRCLES
By I. A. FLEMING.

/ was held at Salt Lake City, Utah, Aug
| ust 2l Y and %. was without doubt the
| most successful and largely attended
Itute.
The organization is composed of stu
dents OF banking, and Its sole purpose
Is the education of its members In
things pertaining to banking.
This fact was evidenced when an at
tempt to place the institute ON record
as indorsing the National Reserve AS
socation, as proposed by the National
monetary Commission, met defeat on
the ground that any attempt to take
Issue in ns tional questions before the
Bankers Association. had acted, would
not only be uniting, but very pre-
sumptious.
At the opening session speeches well
ernor spry, Mayor Park and w. s. Nc
Sarnick, representing the Clearing
House Association. Chairman Carroll
Pierce, OF the executive council, respond
ed on behalf Of the institute. During
the afternoon session eloquent addresses
were made by Judge Edward F. Col
born, of Salt Lake. and Duncan Nc
k1nlay, surveyor of customs for the
port Of San Francisco. Judge Colborn
told the assembled delegates of the
| mining industry Of the West Mr.. Nc
kinlays treatment of his subject, The
Old West and the New" ambraced its
every phase In thoroughness. He called
attention to the vastness of the Vests
| virgfnity when the country was first
opened to settlement In referring to
i, the great water projects he laid great
| stress upon the reclamation and irriga-
ton systems Of the interior and the
| their construction.
| Technical papers and discussions re-
plete with valuable and interesting in
formation occupied the only session OF
1 la
cussed was the numerical transit sys-
tenn which is comparatively new and
one that Is meeting with general ap.
Proval throughout the country. 3.
| Ing house section of the American
Bankers Association, made q brief and
concise explanation of the system and
| led the discussion.
The last day of the conventio, the
delegates listened to inspiring addresses
| by David Starr Jordan, president of
Leland Stanford University. and Judge
William VIII n,,i1;tutd6s H; k6s' Of Salt Lake city.
Borah or Idaho.
| DR.. Jordan talked Of interns tionaI
Leace as a factor in the extension and
power. and Judge King discussed the
control OF Industrial combinations en-
gagged In Interstate commerce.
| DIR. Jordan's brilliant arraisnment of
cost of living today, moved the con-
vention to the highest pitch OF enthusl-
| asm.
| Jurge King analyzed the economic
| situation as 1t now is and showed the
! tendency at present to be toward CEN
| tralization. particularly in the case of
| capitalistic enterprise.
| Too much cannot be said of the hos
| pitality iavished upon the delegates by
| the Pittsburgh, Chicago, Denver. and
| Salt Lake chapters.
| Luncheons, dinners, auto rides, thea
| trical performances, a dip in the great
Salt Lake, special concert in the
! Mormon Tabernacle, in fact every kind
| of amusement one could wish for were
| at our command.
| While the national politics were con-
| spicious by their absence, Institute
| politics we're an extremely unimportant
feature of the convention. -.
The ell sction of Harry W Haynes Of
Riggs National Bank to the Vice
Presidency Of the Institute was due to
| the untiring efforts of Chairman Spaid
and the other members OF the Washing
| ton delegation.
| We were convinced that our candi-
! date was the right man for the office
and we impaired our convictions in a
| very forcibke way to our fellow-dele-
! gates with the result that Mr. Haynes
election was unanimous.