The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-08-15

such free transportation and insurance
on banks as it would be to require 4
free transportation of common
carriers, or of any other transporta
ton agencies.
Resolved eleventh, That legislation
which would require PAIRING of items
would control private enterprise, that
it would reach people and organiza n
tions that are not engaged in an inter
state business, that it would be sub
yersive of the rights of states.
Resolved twelfth, That the forfeiture
i of exchange earnings would so penal .
ize the state banks of Mississippi as to ,
prohibit their becoming members, and
that it would force country national
banks to retire from the system, and
thereby cause the financial power of
the country to remain in the centers
without relief to the country dis
tricts.
Resolved thirteenth, That if nation
al banks be forced to take stock in the
regional banks, that they should not !
be compelled to become members and
be subject to the regulations of the
act and they should be permitted to
continue as at present
Resolved fourteenth, That it is
!! wrong to pit the power of the govern
ment against individuals, that the re-
gional banks should not be permitted
to compete with country banks for col
IN lections, and they should have no SUI
pa perior powers or privileges for hand
i'd ling such collections.
st Resolved fifteenth, That it would be
ID unsound and wrong in principle to
IN permit regional banks to receive
ur as cash, and Immediately give depos
to itors the benefit of same as cash, such
nd items not being cash by virtue of the
ng fact that they are only ordinary col
no lection items, many of which are nevel
rs. paid, and all of which require mucl
b time for collection and final liquida
For ton, that the receiving of such item
by regional banks as cash. and in
nj mediately giving depositors the bent
! NJ fit of same as such, would put grea
,~o and unjust burden on the region;
rus banks which would initiate seriousl
against the best interests of shar
holders of banks not handling hut
volumes of such items; that the ene
would be Immediately to give such d
positors the benefit of such funds
cash without charge, which would be
- burden on the institution and tax
mics its shareholders and other deposition
lrges that if this practice is permitted or
e of large scale, it will result in treme
IN of Gus fictitious, floating and uncert
that element in the business of regio
en- of banks, causing credit balances agai
. which reserve would have to be
vided and carried, thereby largely
creasing reserve requirements,
proportionately reducing the abilit!
- regional banks to issue currency.
- Resolved sixteenth, That the fol
- ing words should be eliminated I
the said paragraph six of said sec
upon" which is the twenty-eii
word in the said paragraph, and 81
therefrom the six words, upon an
its deDositors or" the effect of W
would be to permit regional banl
handle at par only checks and d
drawn by their shareholders, ant
positors on each other, and would
vent their receiving for cole
items drawn by individuals, firms
corporations on local banks and
Resolved further, that a col
these resolutions be sent to ca
our Congressman, and to our
United States Senators, and that
attention be called to the fact t
has been freely suggested that
nj bankers in some of the great cit
our country really suggested II
onI change provision of the said b
dllu they would have the country
SO incorporated and involved
80 proposed financial reforms as
numb their powers of expressio
,oiit paralyze their forces of self d.
m and at the same time receive d.
from country banks to the grea'
10 fit of the large banks in the III
reS centres, the deposits of country
+aos amounting approximately to
cent of the deposits of such
banks.
full is
o,,a OFlTl nc ClMC