The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1914-06-25
Address OF President Barnes
Before Bankers Association

and Sattendancesof these meetings are
constantly growing. ItImay be par
doned for an Illusion TO the group in
which the bank in with which j AM
associated IS q member. beside to-
say that at the last meeting Of Group
g. held at Paradise the beautiful
summer place Of ext Governor A. b.
Fleming, about smidway between
Fairmont and clarksburg, there was
On attendance greater, than found at
any meeting OF the state association,
except It may be at few of the
more recent meetings. Upwards Of a
hundred bankers and business men
connected with banks, in a more or
less intimate relation, sat down to a
dinner given at tile Country Club"
in Fairmont under the auspices of
Group G, and the occasion will long
be remembered by those who partici-
pated both for social pleasures and
the solid Information that was i'm
parted in the course Of the discus
sions at the meeting and the speeches
OF the dinner. Among those present
was Mr.. Oliver ]. Sands, president OF
the American National Bank, OF Rich
mond, and one of those most active
I'm banking circles In securing the
passage of the'new currency bill, and
theiselection Of Richmond for the To-
cation of Federal Reserve Bank,
land llfc explanation of that law and
IT'S probable effect upon the banking
business OF the country was most in.
teresting and instructive. AS you are
aware since our last annual meeting
the currency bill has become a law.
1t leaves one fundamental idea Of
the national banking law untouched.
that Is, the bank note currency Of
1.-THE country is still regulated and con-
trolled wholly by the national gov
eminent. but the methods OF the isstl-
Ing of this currency are materially
changed. If the first drafts OF the
y currency measure met bitter criti-
cism and hostility, It may be said
that such hostility was practically
disarmed by the many amendments to
the bill that were made in the inter.
est of llarmonizing conflicting views
iGnd bringing 1t into closer touch with
the opinions of men who by reason OF
large banking experience seem to
be able to forecast its effect upon
4 the country and its business. AS the
bill was finally passed, 1t seems to be
generally accepted as a great i'm.
provement over former conditions. In
It's workings 1t is expected to give
greater flexibility to our currency
system: 1t promises that It will more
generally diffuse money throughout
the whole country and place 1t be-
tyond the power of any interests so
to concentratetit in any given local
,sity as to produce stringency that
has so often proven, disastrous, in
many unfavored sections. II 1t ac-
composites even hut a. portion ofstle,
many benefits that are promised
there will be anew era of'better busi3
. uRGo nn1 1arc hn 4 H.
M,,osa M,.,nass naa Hu an,uas those
for short ,,ariods 'iaraa - ,.s, ~, ~"
ev and vii, n,ana :. e ~ t,,a =. ao.
an hanI, ha p.e :. .a ~ ne poaer;o,
nanor - raa,,.a e eo oa, eo naaa. y.
.as,, a. t,n,Ss'a :. susa assess ~
otherwisa wort araot ' ,nisss y m ~ s,.s
mud deno,,ttnrs =, oa,,ss. ~ ~ pa Z,
,ts and aamsr;;s ~ tha as !, =" e,,n me.
VIII on,s he f,,i,,, ,,sa,a. m.," ,, ssseeia
zoos M nr.otiaa, anssn,,ea Wnen =
.,oto,v - ,saai.aa.s opsi ,alst,i. 80.
are d;se,osad nndas s,,a,, ~. .e,. s's .s..
san aas,,s h. nas,o, nas .es., .ney
nm az Iman. - .,,e aa. 7. ~, p.ope',
t,mo,S aaa ~ ,n NV ~ ~ ine mean
lon u M, t,a 49,. ~ - =. i auN o w,
roxsmant n"on ~ 'am = : s.at ,n.
r. e. Sat ~, 49,, s's I'LL aiu IN,
sarso - naoas ~ .u III. ,a.e eMil
Sorso ~ 10 n,o;,ene 90. = t..s. step ~ =
m;,i a,a - ~. - -. ,aWs t,iae
,si LAY nss oa' sar.eley anu 1ahklhg
n,aaa - Sa,s ts s.soie ana uselul
Me ~ t 1e nanhs anu Tue PEG