The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-20
BRYAN'S OPINION
NOT |NDORSEDBY
BANK INSTITUTE
Body Also Disclaims Re-
sponsibility for Bur-
tons Views.
NO EXPRESSION ON
CURRENCY BILL
Dallas Wins Next Convention
Over Hartf o d-Dreher, of
Milwaukee, Elected Presi-
dent-Moser, While Pre-
siding, Stricken in Midst
of Stormy Debate.

While taking no action on the pend
ing currency bill. the American Insti-
tute of Banking, in a resolution unani-
mously adopted before final adjourn
ment yesterday afternoon, asserted that
1t was not responsible for the views
expressed on Thursday by it's invited
guests, Secretary of State William Jen-
nings Bryan and United States Senator
Theodore r. Burton. Widely divergent
opinion had been voiced by the two
distinguished speakers, and more than
once during the day members of the
institute differed with Mr.. Bryan. In
lieu of proposals to take decisive ac-
ton on the currency question. the
committee on resolutions reported
carefully worded paper. disclaiming
amy and all responsibility for state
ments made by invited speakers and
that any opinions expressed or poll
cies advanced by them were not to be
construed as bearing the Endorsement
of the Institute"
Resolutions were also adopted look
ing TO the establishment of national
Institution for members OF the asso-
citation who become ILL.,
Officers Are Elected.
While presiding over prolonged
business session in the Jefferson audi
torium yesterday afternoon. President
Byron W. Moser. of St Louis, tainted.
and had TO be carried from the plat
form. Physicians stated an hour later
that the attack resulted from over
strain in the convention. and that he
was rapidly Improving. Under direc-
tion of Vice President Harry " Haynes,
OF Washington. the institute closed its
eleventh annual convention. selecting
Dallas. Texas, the next place of
meeting. and electing the following Of
ficcrs:
President-H. ]. Drcher, of Milwau-
kee.
Vice president-James d. Garrett. of
Baltimore.
secretary-walter B. Kramer. of
Scranton, Pa.
Treasurer-M J. Mulcahey of Min
neapolis.
Executive council--E. ]. Morris OF
Philadelphia; w. .. Bird, OF Denver
end George II. keesee. of Richmond
The newly elected officers were in
stalled shortly after o'clock last
night, and the convention reached a
fni.l adjournment. a dance was ten
dered the visitors last night at the
Richmond Hotel, and an all-day eXcur-
sion on James River to-day will be
the chief social feature planned for
the delegates practically all of those
in attendance having secured cards for
this excursion. Many of them Will
from Norfolk others returning to
Richmond by special train this after
noon
clearinghouse PEobicms.
The morning session yesterday was
given over 70 an extended discussion
of clearing house problems. Having
devoted one daV OF the convention 10
currency questions now directly be-
fore the country. Robert II. Bean Bos-
ton me,n3er OF the program committee.
who was presiding, explained that IL
was but fair that. as % per cent or
the business 0f the banks is done by
checks, in whIcil TO actual currency
figures. that some consideration be
given to the rollems of check collec-
tion and the functions of the clearing
rhouse. After nn invocation by Rev.
James Y. Fair. u. D., pastor OF West
minister Preshv .eiaan Church, sympo-
stun on clearinghouse and their
functions. was directed by O. Howard
Wolfe. OF the Ncw York chapter.
Charles \. Ruggles. manager of the
Boston Clearing House Association.
spoke on the collection of country
checks and the settlement Of balances;
j. \. Frederick. a bank examiner for
the New York Clearing House, spoke
on clearing house examinations and
the registration of commercial paper.
In the absence of Jerome Thralls. of
Kansas City. who was detained by ill
ness in his family his address on vo-
community advertising was read by c.
w. Allenderfer of Kansas City. Sew
eral members took part In n general
discussion which followed. Mr.. Palmer.
transit manager of the First National
Bank. of Cleveland. speaking on plans
| for reducing the cost of collection of
country checks.
Replies to Secretary Brynn.
Acting Chairman Wolfe took occasion
to reply to one assertion of Secretary
of State Bryan.
"Ar Bryan insinuated yesterday" he
| said, that banks fail because of the
embezzlement of bank officials. We
know that that isn't SO. Failures of
banks are the direct result of the liza
bility of human judgment to err Banks
fail because their creditors do not pay
back the money they have borrowed.
| The bankers plan for making deposits
in bank safe differs from that outlined
| yesterday by Mr. Bryan. We don't be-
| lieVe so much in fire insurance as in
| freproof construction. Instead OF his
plan Of an insurance reserve to make
| good losses to dcpositors, we present
| the clearing house examination plan,
by which in twenty cities already pro-
lection is given to the depositors by
giving associated banks accurate in
! formation as to the condition Of the
banks in the clearing house"
In summing up Mr.. Thralls paper,
Chairman Wolfe made another refer
ence to Mr.. Bryan;s address. saying:
"Mr. Bryan made one very profound
statement yesterday when he asserted
that the banks are for the people-not
the people for the banks. No one has
ever disputed II. Mr.. ThralIs paper
shows something of what the banks of
the West. are doing for vocational and
agricultural training"
Lengthy Business Session.
| The business session of the convea-
tion occupied the entire afternoon
every delegate apparently being In his