The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-19
Seer retary Of State
Warmly Commends
Pending Measure.
SAYS BANKERS
ARE NOT JUDGES
Senator Burton, In Convention
Address, Holds That Federal
Reserve Board Should Be
Kept in Hapds of Bankers.
Pittsburgh Wins Joint
Debate.

WILDLY divergent views In regard TO
the pending GlassOwen currency bin
were expressed before the American
institute OF Banking In session at the
Jefferson Hotel yesterday. United
States Senator Theodore f. Burton. OF
Ohio. member Of the former Monetary
Commission. criticized several of its
features. Secretary OF State William
Jennings Bryan warmly defended The
bill as a complete compliance with the
Democratic party platform, and ca
pressed confidence that it would very
shortly become law.
Secretary Bryan and Senator sturton
disagreed entirely as TO the compost
tion of the F'elcral reserve board. Sena-
tor Burton holding that II should be
kept In the hands of bankers and free
from politics and partisan control,
while NJ. BRYAN thought II hardly
proper Tor the bankers 10 sit as Judges
OF their own case. and that the board
should be, as the bill now provides. a
purely government body.
Makes Reply TO Bryan.
Colonel Frederick l. farnsworth,
general secretary ot the American
Bankers Association. and secretary OF
it's monetary commission. who came
TO Richmond 10 convey the greetings
Of the Amcrican Bankers Association
issued statement last night. chai.
longing the acruracY or some OF Secre =
iary Bryan'S assertions and giving the
position Of the American Bankers Asso-
citation on currency legislation. II is said
TO be probable that at "A business ses-
sion this afternoon the American In
stitute OF Banking may adopt resolu
tions nov under consideration. putting
itself on record favoring currency
reform, but not indorsing all the fea-
lures of the pending bill. Ee;h of the
speakers yesterday were we'll received,
and were accorded liberal applause.
y morning symposium on bank ad
vortising and business building brough.
out some practical suggestions as TO
bank methods. Yesterday afternoon
there was n spirited joint debate be-
tween teams from the Chicago and
Pittsburgh chapter. OF the institute
over the so-called Blue sky law the
judges, after a close decision, giving
the award TO the Pittsburgh team. y
auditorium last night wac greatly
enjoyed.
business Session To-Day.
\ discussion Of the clearing house
and its functions. with a number OF
papers dealing with the subject from
many angles will be the feature this
morning. A business session Will be
neld THIS afternoon tOT reports OF com =
mittees. election of officers aud selec
tion OF meeting place. There Is
a contest on both for the presidency
and for seats on the executive council.
and several cities are in the race for
the next convention Formal adjourn
ment will be had late this afternoon.
To- might members of the institute Will
be guests OF the Richmond Hotel at a
dance, and tomorrow OF the city of
ri n a
River.
Up to last night Chairman Mount
castle, Of the registration committee,
had entered s7l regular delegates en-
titled to vote. the attendance having
been By far the largest In the history
OF the organization.
Senator Burton's address was the
opening feature yesterday morning,
and followed Immediately the invoca-
tion by Bishop y. ]. O'Connell. of the
Catholic Diocese OF Richmond
Fred w Ellsworth, publicity man
ager of the Guaranty Trust Company
of New York, led the symposium on
bank advertising and business building.
The Charity Abuse.
c. B. HaZlewood assistant secretary
of the Union. Trust Company, of Chi
cago, in paper under this general head,
after highly praising effective news
paper advertising. condemned special
editions gotten up by outside solicitors.
He discussed at some length the prob
lem of the charity abuse, strongly ad
vising that all solicitations for advcr-
tising in church papers programs and
charity enterprises of all kinds, where
the publicity in itself was of no value.
be referred to the charity committee of
the directors. and in no instance be
charged against the banks appropria-
ton for legitimate advertising.
Leroy 4. Merchon, advertising man
<f fbn I-t,tf ff.Ic cfof
Trust Company, of New York, caution
cd against the use of novelties and
souvenirs for advertising, saying that
il added nothing to the public's conf
Gcnce in bank for it to name out ex-
pensive bric-a- brac to It's depositors
Frank NJ. Pollard assistant cashier of
the Exchange National Bank, OF Pitts
burgh, discussed the work OF travelling
representatives and professional ac-
Vertising agents. dozen or more
men from the floor took part in the
debate which followed.
IntercitX Debate.
An intercity debate between the Chi
cago and Pittsburgh chapters was
greatly enjoyed at the afternoon ses-
sion. The question was, Resolved,
That the So-Called Blue Sky Legisla-
ton Would be for the Best Interests
of the People of the United States"
l.. S. Space, a. T. Eyler and George
Rankin, Jr., Of Pittsburgh. took the
affirmative
Adolph Floreen. Norman B. Collins
and John w. Gorby, of Chicago, took
the negative. strong case was made
out against the fraudulent promoter,
who, according to post office reports,
has swindled the American public out
OF untold millions OF dollars In recent
years. The Post-Ofice Department
can reach the situation by fraud
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