The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-10-15
Governor Hlamlin Of Federal
Reserve Board and Congress-
man Glass Speak
Powers of Reserve
BoardNot TooGreat
Authority to Which Objections
Were Made Same as That
of Treasury Officials for Fifty
Years

Credit for the new currency iegtsla-
ton belongs to tho president OF tho
United states. Woodrow Wilson. de-
clared Carter Glass. representative in
congress from the Sixth Virginia dis
trict and patron Of the federal reserve
act, al the conclusion Of his address
which marked the closing OF the bust-
ness sessions OF the first day OF tho
fortteth annual convention of Tho
American Bankers association. The
address OF Mr.. Glass and that OF
Governor Charles 8, Hamlin, OF the
fedora reserve board. at yesterday
Afternoons session in Jefferson audi
forum. were the outstanding features
Of DAY Of much work and large
pleasures. Both addresses bore on
certain phases Of the federal ressrve
ACT and the federal reserve board.
and we're filled with enlightenment
for the several hundred bankers who
racked the auditorium and who from.
time 10 time. made their interest and
appreciation manifest In ringing Ap-
piAuse.
Yesterday was the first big day cf
the bankers convention. which will
end .ts business sessions with the
election OF officers. choice of next
meeting place and adoption OF reso-
1utions, this afternoon. The conven-
ton -as called TO order about 1850
o'clock by p. ". Goebel. OF Kansas
City, member of the executive coun-
Gill acting IN the absence OF President
Arthur Reynolds who was delayed IN
aching the convention floor because
Of throat trouble. and the necessity
FOR consulting specialist President
= r syGolds arrived in time TO make
response 20 the welcome given the
body b. Governor Stuart, Mayor
Ainsl!e and Coloel John B. Purcell.
president Of the Richmond Clearing
Eonse association. and to make fis
annual address. He presided at the
afternoon session also. The work Ct
the morning was given over to the re-
ceivEnK of various reports The .es-
4 sion concluded with the address Ct
Martin W. Ilttieton on The VIII OF
Ths People
fifuc Journeys the Feature.
Features OF the entertainment yes
tefdsy were the little journeys"
automobile tours OF the city. luncheon
&c. the ladies at the Country club.
Rua tie musicale by Chuck. Scott ard
Eise 5at.st a. the City auditorium last
E.k'st.
TIE little Journeys yesterday took
some snree hundred visitors to the
plants of L.ggett & Myers, the Rich
iaoad Cedas Works and the American
locomotive Works. At Liggett &
Iyavs souvenirs were given and to
sach OF the men were given leather
rases Of the "distinctively individual
cigarette. At the Cedar Works the
names Of all delegates visiting he
plant we've taken and there will 20
forward by parcel post to The homo
addresses OF these. small tubs as
souvenirs.
The visit to the Locomotive Works
proved . most interesting ono. There
mad just been completed . big freight
engine OF the mountain Ginning type
While the visitors were In the shops
practical demonstration was given
Tor their beneAt The mammoth
engine was picked up by one OF tho
great cranes, lifted over an incom-
plete locomotive and placed on the
! rails.
Though the day was cloudy ana
! rain threatened to succeed the damp
dr;xxie that held almost throughout.
| there was an interested gallery fol-
Lowing bankers over the courses at
| the Hermitage and Country clubs,
where golf Journeys are on.
There vas great demand also for
o. .cr,r aiies fos sightseeing and the
Iarties taken over the city were
charmeis MAIN the beauties and actiy-
ties OF Richmond.
Concert Ends the Day.
TIE City auditorium last night was
nlstd sni ihe concert was thoroughly
enjoyed By the lovers Of music. who
Hre naEy among the bankers.
After this mornings session Ii
CfHed to order and Bishop d. J..
o'connel has invoked divine blessing.
ali agricultural symposium will be
led by b. r. Harris, OF Champaign.
IL, editor Of the Farmer Banker, and
tcdrvases on agricultural and educa-