Evening star., 1915-02-21
"GET|kTOPOuT|CS," !"
IS BRYAN'S ADVICE
Secretary of State Addresses
Washington Bankers
at Banquet.
CITES SEVERAL D0N'TS
FOR THE YOUNGER MEN
Senator Owen Tells of Conditions
Bringing Enactment of Federal
Reserve Act.

ly familiar with the big Issues OF the
day and learn to realize the great re-
sponsibilities which rest upon you. Don't
shun politics as If 1t Is a thing to be
avoided. Cultivate politics. Get into the
thick of things and learn"
Such was the advice given by Secre-
tary Bryan of the State Department
last night at the annual banquet OF
the Washington Chapter Of the Ameri-
can Institute of Banking, at the New
willard Hotel. The remarks were de-
livered in the course of talk on the
temptations to which bankers, espe-
cially young bankers. are subjected
these days.
Summarizes Temptations.
These temptations were summarized
nv the Secretary of State, in series OF
"don'ts," as follows:
"Don't live beyond your means.
Don't speculate.
"Don.t allow your heart to become
hardened because of the stern a..i .
tude which your profession demands al
times.
"Don't become a miser.
"Don,t neglect the interests OF your
depositors. .,.s
"Don't let your vision become SO US
torted that you believe the community
is made by and for the pahhs' hui 'Ae
banks by the community ~.
Sacretary BRYAN did not negiect INC
onnortunity to tell the gathering OF 2oo
or more bank officials ana cierks "hd'
he thought of bankers. ana, Ihofe n, p1'
ticularIy. what bankers think OF him.
.I am not only one of a crowd Wnich
&c condemned by bankers. but the
worst Individual in that crowd IN 'he
hanks estimation" said Mr. Bryan.
Reserve Act Opposed.
The recently enacted federal reserve
act. elevating American banking
methods to a high standard Is not the
result of work in that direction done
by bankers, he said. On the contrary,
the act was opposed by the bankers OF
the land, who were too blind TO see
that it was to benefit them as mucn as
"If YOU had not had a President and
a Congress free from financial bias.
YOU could never have had TINS great
measure" he added.
Mr.. Bryan laid special emphasis on
the duty Of the banker to his deposttors
He said every precaution should be taken
to safeguard their interests. The protec-
ton should not only be from thieves
from without the bank. but from thieves
from within More money mas oeen s.o.ea
from depositors by persons connected
with the banks who have access to their
funds than by burglars.
When the government, state or Fed
eral, .ntrusts funds to bank IT
demands ample security for those funds.
Deposttors should enjoy the same secur-
ity when they allow a bank to hold their
funds.
Senator Owen Speaks.
Conditions which brought about tho
enactment Of the federal reserve act
were outlined to the members of the
chapter and their guests by Senator
Robert L. Owen of Oklahoma
The act is not the result of any one
mans work, but the work of many men
in many lands. he said. In 1t are en-
to severe tests in Germany, England
and France and have proved their val
ue beyond all doubt. The greatest and
most important value Of the act to the
tablishment of stability in American
banking. Stability results not because
any one bank can go to the federal re-
serve bank and obtain accommoda-
can obtain these accommodations. This
condition Of affairs inspires confidence
which produces stability, he declared
o. S. to Be Banking Center.
Because of the stability of the
American banking system which will
be a result Of the federal reserve act.
said Senator owen. America Is to be-
come the banking center of the entire
world. Already we are extending our
banking facilities to South America
and soon they will begin to extend to
other lands With $4,000 member banks
and assets aggregating $4,000. .OOO.0O0
We have right to command the title
of mistress of the financial world"
The relation of banking to commerce
formed the basis of an address deliv-
cred by Representative Andrew ].
Montague of Virginia, formerly gov
ernor of that state. Banks do not
make commerce. he said. but are made
by commerce. Extension of American
commerce will mean the extension OF
the American banking system. South
America. he said. presents the greatest
field for the excess commerce of Amer
| lea at this time.
Problems of Directors.
Some of the problems Of the directors
of the regional reserve banks were
outlined by Col John F. Burton. chair
man of the executive committee Of the
regional reserve bank at Richmond
Col. Bruton said that the slowness Of
the federal reserve board in rendering
it's decision, which has been a subject
Of considerable criticism by many per-
| sons, has been of great value to the
| country Bankers have been given
time for adjustment between the vari-
Gus decisions needed to get the system
into good working order and therefore
have had great opportunity to study
and understand them. II the federal
reserve board flooded the bankers with
decisions and rulings. they would not
have time to study them carefully and
become thoroughly acquainted with
| their meaning and import
Part Of Young Bankers.
Col. Bruton spoke of the part young
bankers are to play in creating a grea,
American banking system. 1t Is per
fectly natural that the older bankers OF
the land will take longer to become
familiar with the workings of the fed
eral reserve system because they con.
Quoted business under the old national
banking act for many years Younger
bankers will therefore obtain a bettel
understanding of the act and its opera.
ton. he pointed out, and upon then
rests the responsibility of helping Il
make a great financial system. The
older bankers mean to do right, he de-
clared. but 1t Is hard for them to chang,
their ways and habits-habits formed
during the years they were guided b,
the old national bank act.
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