The Detroit times., 1912-09-11
|Ys MONEY TRUST PROBE
[JsT NOT DISCLOSE ANY
bNFIDENTIAL RELATIONS
,continuea from PAGE onsl

for the impending investigation
tha socalled money trust by the
,se banking and currency commit
on the contrary, | shall be glad
40 what | can 10 cooperate with
members OF that committee so
as its activities are exerted
Hp- thr lines OF an honest endeavor
eulated 10 promote better methods
higher ideals In business.
Good business conditions tnsuring
full employment OF labor mean
free use of capital. and credit,
greater portion OF the credit thus
Moved has It's inception In and
backed by the various banks OF the
mfry. aud II those credits are
Able our people must have conf
nee In our financial institutions
ich woiiid result In disturbing pub
confidence would affect our instiS
ion OF credit and thereby carry it's
ehting effects into every home.
Every banker In his relation TO the
bile welfare should be in sympathy
\ cooperate with every movement
hich Is honestly calculated to inn
owe public conditions, but. knowing
we do that our system Of banking
a currency makes no provision for
protection OF our credit when pub
confidence Is disturbed or impair
we. as bankers, should not hesi-
te To direct the attention of the
iblic To possible dangers TO business
at NAV be encountered IL this in
sstigation should at any time be
horn OF an honesty OF purpose horn
a desire for Improved conditions.
this event bankers should not be
und lacking In the courage TO dis
burage. or even resist. any move
ent created for the purpose of cap
alizing any prejudice for the bentfit
any political party or for the ad-
hntage OF anyone.
Must Not Disclose Secrets.
"I do not believe the bankers OF
he country will enter the slightest OBJ
hction 10 the making OF compre-
ensiye investigation OF the banks by
hose charged by the house with that
responsibility, so Ions as such investi-
ation does not require them TO dis
lose to the public the confidential
elations existing between themselves
nd their customers. the divulgence
NUlCH Hibul Sltdtlg tulDdi aSp hHN
customer and thereby do serious in
.ury TO the banks In my opinion the
banks should, and | believe they
Eould do the limit OF their ability 10
DO so, decline TO make this informa-
| ion public.
'"If a banker can be forced TO dis
[lose confidential relationship be-
| tween his bank and its customer, u
BYpuld require but a short step fur
|her TO capitalize for the qualification
be prejudice the confidence between
fhe attorney and his client as well
bs the secrets OF the confessional.
Il cannot believe condition exists
which can begin 10 justify such dras-
|ic treatment; no more do | believe
congress will take any action which
would strike so directly at the per-
bonal rights and liberties of the peo-
pie.
Since the laws enacted must be or
a character TO meet the approval OF
public opinion. and since bankers, as
well as those engaged in other lines
Of business. must be governed b.
these laws, surely we. as bankers.
who are so keenly interested in the
discussion of any subject so vitally
important TO our welfare, cannot rea-
sInably be criticised for honestly ex-
dressing our opinion upon this sub
feet
4 Il do not mean to question the atti-
tnde toward this Investigation OF any
OF those who have any connection
with the work, for. until am shown
TO the contrary by their work. | shall
be pleased TO believe that their ef-
forts will be prompted only by the
highest motives born of an honest de-
sire 10 improve public conditions and
free from any desire on their part TO
annoy. much less harm our
financial institutions, which are the
very bulwarks of our national
strength"
Savings Bank Section Meets.
The savings bank section held its
session in the green parlors OF the
Pontchartrain, opening with an In
vocation by Auxiliary Bishop Edward
ID. Kelly. President William Living
stone, OF the Dime Savings bank and
head OF the American Bankers asso-
ciation. extended a few words OF
greeting to the delegates, and Alfred
l.. Aiken. president of the section, re-
sponded. Mr.. Aiken is president OF
the Worcester County Society for
Savings, of Worcester, Mass He fol
lowed with his annual address and re-
ports were presented as follows-for
the executive committee, J. +. Sar-
tori, president of the Security Trust
and Savings Bank OF Los Angeles
Cal; for the secretary by f. G."Mc-
William for the law committee, by
John ri. Sturgis, treasurer, Franklin
Savings bank, Boston; for the men,
bership committee by F. G. Nichols.
treasurer Fitchburg Savings bank.
Mass. for the committee
on school savings banks. by n. f..
treasurer OF the Farmers
and Mechanics Savings bank, of
MINI.
Theodore l.. Weed, director OF the
postal savings system Of the United
states an interesting paper on
"The postal savings bank and The
hanks taking mp the growth OF the
postal SAVINGS hanks throughout
country and their effect upon the bus
mess OF the established banks. He
argued that the cultivation of the
habit OF saving which the postal
banks fostered helps the business Of
the savings banks and that most OF
the money that goes into. the postal
bank Is money that could not be
reached by the regular banking sys.
tam