The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-18
Business Is Safe, Even
With Change in Tariff
and Currency Law.
BIG CONVENTION
NOW UNDER WAY
Delegates Warmly Greeted, and
Routine Work Begins at Open
ing Session-Bryan and Bur-
ton Scheduled to Speak
To-Day-Many So
!: cial Features.

Unboundcd enthusiasm and pro-
longed applause whenever confidence
was expressed In the ability of Ameri-
can bankers to meet new Situations
growing out of the pending tariff law
and proposed currency legislation,
marked the opening session of the
American institute of Banking, which
began it's eleventh annual convention
at the Jefferson Hotel yesterday morn
| ing. 4 series OF welcoming addresses
were followed by a number OF repor:s
Of officers and standing committees.
Social engagements took up the after
| noon and evening
To-day's program promises to be the
most striking OF the convention, inter-
est being divided between the address
of United States Senator Burton, OF
Ohio. promptly at $3.50 o'clock this
morning on currency legislation, and
the address of Secretary of State Will
| liam Jennings Bryan at / o'clock this
! afternoon. Admission to the latter
will be by ticket only, as the number
| OF delegates in attendance will tax the
capacity OF the main floor, leaving the
balcony only for other than members.
Governor Warmly Applauded.
Few conventions meeting in Rich
mond in recent years got down to
business more promptly or conducted
general officers are aided in every de-
tail by a large local committee. Presi-
dest Byron w. Moser, who, in working
! hours. is publicity manager of the ST.
Louis Union Trust Company, called the
I convention to order. The Invocation
| was by Rev. H. d. C. Maclachlan, D. D.,
| pastor of the Seventh Street Christian
| Church. Greetings were delivered by
Governor Mann, Mayor Ainslie and
President Darlington. of the Chamber
of Commerce. The Governor was par
ticularly we'll received. the visitors
greatly enjoying his war stories. ~
reference to Mrs Mann as the Com
mander-in Chief" brought applause.
aud when it developed that she was i'll
the balcony, tho applause continued
until she bowed her thanks.
III closing. the Governor briefly re-
viewed the remarkable progress OF
Virginia and OF the South. The open
ing of the Panama Canal, he said.
changed the traffic problem of the ma
! tion from one East and West to one
North and South, presenting problem
OF business adjustment not to be set
tied in n day. The Governors refer
| ence to pending tariff and currency
legislation, his confidence in their pas
sage, and in their ultimate benefit to
the country. even though some tenn
porary business adjustments might be
necessary. were we'll received.
Growth of Richmond Banks.
Mayor Ainslie told of the leadership
OF banks in the growth and progress
o. Richmond in recent years. In the
past twenty years, he pointed out, the
assets of Richmond banks have grown
from s13,o00.0o0 to s7l,000,oo0, there
now being one hank-the First Ma
t;onal-whose total loans approximate
the total resources OF all the banks in
Richmond twenty years ago.
l,a, .,,, rxto ~, .l>a-
of Commerce. told more in detail OF
the progress of banking in Richmond.
and of the position Richmond has taken
as the strongest financial centre be-
tween Baltimore and New Orleans. Mr..
Darlington complimented members OF
the institute that the profession OF
banking was being placed on so high IL
plane. and that so many men were
studying to make II n profession in
reality.
Your calling is the highest OF all
material pursuits" he said, FOR to YOU
rs intrusted the savings of those who
put their all aside for future emer-
Gencies or accom- plishments. and it is
a trust II takes the highest standards
of manhood to measure up to-
Bctter Dnys Ahead.
81 feel that l am talking now to
those who are, or who are to be, the
future executive bankers of our coun-
try, and the foundation stone OF COM
mercial prosperity in the banking busi-
ness. Many are the troublous times
the bankers have been called on to go
through. but let us hope there are bet
ter days ahead OF us, and that the
promises Of n sane. reasonable and
practicable banking bill. which Is now
receiving the attention of Congress,
may be worked out on the high lines
of patriotism and sane basis OF prac
ticability, so that when you are called
upon TO take up tho reins OF respon-
sbilty OF administration you will do
so under auspices that will enable the
banks with safety and comfort to
serve the community, which Is so abso-
lutely dependent on their existence"
Fred a. Crandall, chairman OF the
executive council. briefly acknowledge
ed the welcome to Richmond.
Greetings of American Bankers.
Bearing the greetings of the Ameri-
can Bankers Association, Colonel Fred
l.. Farnsworth. general secretary OF
that body. was warmly greeted when
he came to the platform. With the ex-
ception OF the Salt Lake convention
last year. he said. he had not missed a
meeting Of the American Institute OF
Banking since Its formation at meet
Ing OF the American Bankers Assoc5a
tion in Richmond in 1900. He high
ly praised the special courses in bank
Ing and comm mercial law which many OF
the members of the institute art taking
either from local chapter instructors or
through a correspondent course.
"As one Of the results Of this special
lied training" said Colonel Farms
worth. you Will be able TO work to-
gether as the bankers of tho country
have never done. Your study of eco
nom,cs. has given you knowledge oE \
the principles upon which fna1ciaia
policies should be based 1t Will never
again be necessary to endure the cons s.
Of ho artv Nil tv. Il