The daily banner. (Cambridge, Md.) 1897-2008, 1913-06-26
Bankers IDd0Tse Wilson Currency
Reform Program


Wilson's stand for immediate cur
rsncy reform legislation was voiced
by President Daniel AMMAN, of the
Maryland Bankers Association, at tie
opening session of the 18th annual
meeting of the Association today.
Il am not prepared to discuss the
proposed legislation in detail, said
Mr.. Amman, in his address, "but
when we find the President of the
United States demands action for
the remedying of faults in our bank.
ing system, which have long been
recognized, it looks as though we
are waking up. Our national bank
ing system is a great system; they
were great men who put it on it's
feet. but it is lacking in one quality
elasticity.
Charles Ham, secretary of the
Association, also referred to the
currency bill in his annual report,
and suggested that the Association
should commend President Wilson
for his wise and courageous insis-
tence on immediate remedial legls-
lation.'
The convention was called to or
der at 10 O'Clock and opened with
prayer by the Rev. DR.. j.. Spangler
Kteffer, of Zion Reformed Church,
Hagerstown
DR.. ]. Mcpherson Scott, Mayor of
Hagsrstown, in an address of well
come, expressed the opinion that
the greatest need confronting the
bankers of the country was to en-
tighten the general public as to the
relation between banks and public
interests, and dissipate, by cam
paign of education, a belief which
he declared was held by large part
of the population that banks
were run by smalls groups of rich
men "for the enrichment of the few
and the impoverishment of the
many"
w. w. Cloud, president of the
State Bank of Maryland, Baltimore,
responded to, Mayor Scott's address,
and then President Amman delivered
his address.
Besides commenting upon the cur
fency reform plan, Mr.. Amman spoke
OF the movement Ito get the banks
of the country back of the cam
paign for improved agricultural
methods, and told of the results Sc
cured from a corn-growing contest
in Allegany county last year ,stimu-
lated by an offer of three prizes in
gold made by him for the best
specimens of corn pruduced.r
Secretary Ham in his report al
so dweit upon the agricultural pro-
motion program and suggested that
the Association create standing
committee on agriculture, with au-
thority to offer prizes for the stimu-
lation of rivalry among farmers.
George R. Gehr, of Westminster,
reporting for the committee on in
terest on deposits, raised a laugh
by likening banks which had under
taken to pay per cent. interest on
deposits to the Irishman who had
sunk into bog up to his ankles,
but with the wrong end in.
Sooner or later" said Mr.. Gehr,
the bankers will have to give care
full consideration to this matter. The
trouble with many at present is
that they don't know whether they
are coming in or going out
Some of these that are paying
4 per cent. may find they are go
Ing CUT interjected President
AMMAN.
Following the reports, w. G.
Edens, secretary of the Illinois
Trust Company, Chicago, delivered
IN address on Rural Credits" He
said investigation had shown that
farmers throughout the country
we're paying an average of about 8
per cent. interest on funds borrowed
Tor carrying on their business and |
declared that better terms for such |
oans were needed to encourage the |
farming industry, as a means of |
improving the standing of farm Sc
:urity and reducing the interest rate
IN loans. He urged active endea-
Tors for bringing about the adoption |
~ farmers generally of more scien-
life methods of farming.
Jerome Thralls, manager of the |
Kansas City Clearing House Asso-
'iation, followed with an address,in
which he described in detail the
by the Association of
! country clearing house, with op-
stretching over Z States.
Andrew Ramsay, of Mount Saw
.ge. member of Maryland Roads
read a paper on road
'uilding, in which he declared that
he interests of the country demand
d that the Federal Government un-
ertake the building of a complete
ystem of good highways. He sug-
ested an increased tax on tobacco
. means of financing this work.
This afternoon the bankers went
n a trolley trip to Chambersburg,
a. Tonight there will be vaude-
Tile entertainment here, and after
mother session tomorrow, the meet
1g. will close with the annual ban
uet at night.
The following dogs have been ta-
An nm IN tho Of No h,.i5 |