The Washington times., 1912-05-19

conscience II one OF the MOST thip"~
tant entities Of the human makeup.
The tap, tap, tap, and the knock, knock,
knock. OF the conscience that has not
beer, scared 10 an influence for good
In this every day business world that
cannot be measured by dollars and
cents. Even the conscience that has
been lulled to sleep with frequent quel'- !
ings will occasionally break out I've
and earnest again II given the slightest
chance, and this wonderful monitor, II
needed, will never permit Its possessor
to 60 far wrong.
The owner Of an acute conscience may
congratulate himself on It's possession.
1t may check the accumulation OF wads
Of coin through ways that are devious;
although within the letter of the law.
but the satisfaction that comes to the
human being from the knowledge Of a
life we'll lived will some time or other
prove more valuable than all the wealth
to be obtained by the soaring Of a
conscience
II is a fact that the banker is looked
up to By the business interests OF the
town or city In which he lives; that he
IL always regarded as a prominent citi'
zen, and that his power for good or evil
proves to be lacking In obeyins
the silent monitor, and actions speak
louder than fair words, the community
will know 1t. and reputation viii take
wing and fly away.
On matters OF public interest the
banker should always hew to the line
Of public good; In recommending inves-
ments to customers the banker, should
act as he would for himself, stunning
all attempts TO capitalize his good name
and reputation, standing on guard at
all hours against any effort to fatten
his private purse for the express pur-
pose Of the effect II will have on the
people OF the community. through the
publication Of the fact that the bank er
has Invested In this or that proposition,
therefore the banker should be careful
In his own Investments and be above
temptation. Otherwise ruin may come
to many OF his friends
When investors come for advice II 10
a fact that they usually have their
minds made UP, and will listen, with
frequent return to the consideration OF
| the investment that they were consider
ing and which they will, in all prob
| ability, make. II Is the duty OF the
banker aud the broker to advise honest
' ly, II at all, and then they will not be
/ bothered by conscience, should the in
vestment prove Improbable.
II IL said that the brickmakers Of
Washington and vicinity have a harder
problem to solve than did the Israeiites
when they made bricks without straw.
Our brickmakers are trying to figure
the profit made in selling bricks at less
than cost Fact. ,.,
| When the members Of the House oi
Representatives authorized the So
called Money trust" investigation II
was probably understood that the com.
ideas as TO what they were CUNNING
after: that II there was Money
] trust" its head and front must be in
, New York city, with ramifications In
great octopus with tentacies extend
ing all over the United States. into every
city and town OF any Importance.
And the list OF questions that were
$1,000 banks and trust companies, saw,
ings institutions, State and nationa
banks.
The committee wanted the lid taker
of the banking business; they wanted Z
list of borrowers; they wanted TO know
a lot Of things that were none OF theii
business, and which they were for
hidden to know by statute enacted BY
this when they flooded the malls with
their franked matter, but they sooi
found II out
They probably discovered that section
6Al, Revised Statutes national oanEni
actl, expressly vests in the Comptroiie
Of the Currency and courts OF law SOL
visitoTial powers over banks and th'
banking business. 49,,
Then the committee asked, and tn
House passed a bill giving to Congress
or either house visitorial powers
The bill has not passed the Senate; !
may not pass, but should 1t, 1t win thei
have to go before the President for hi
II looks very much like an amendmen
to the national banking act,
Lawyers have expressed the opinfo
that should this measure pass bot
houses and be approved by the Presl
dent, il would be unconstitutional an
against the Fourth amendment to tn
Constitution, guaranteeing the people !
the sanctity OF their private rights
persons, houses, papers and ensS.s sSn,,s
proyiding II has the power, give to an
one the right to publish the names Q
the borrowers Of the nation and the col
lateral back OF their loans. II Is the DOT
| roWers' private business,
The Chicago Clearing House decided t
refuse the information asked, expressin
willingness of the banks of the assoeia
lion to furnish any inforInation ina
does not violate the conftdenttal reia
I lions between themselves and their Gus
. toners, unless the latter agree to tn
r publicity" -. x..,
; Richard Olney, Attorney General an
! Secretary OF state under former Pres
: Sent Grover Cleveland, the Boseo
. Clearing House Association VIII refus
To furnish the desired Information.
'Vothar ORGANIZATIONS around the cour
trv are taking the same stand.
I Washington bankers have an opinio
! from the attorney Of their organisatrlo
which they have not made pubic, o.
General rule they take the posiuo
tbat they have no right to make punil
8 the business relations OF such conI
a dental character as incident to cohs
eral loans
There has been so much talk OF
Money trust" that there certslni