The Washington herald., 1915-02-21
most ROBBERS
inside BANKS"
Bryan Says Officials Steal
Much More Than Do
Everyday Crooks.
TALKS TO BANKERS
Statement Not Welcome Information.
He Thinks, but Tells Them to Look
in Prisons and See.

Secretary Bryan declared. in address
ing the twelfth annual banquet Of the
Washington Chapter of the American In
stitute Of Banking at the Willard last
night. that an examination of the prisons
of the country will show there are more
burglaries committed from the inside OF
banks. by INSCRIPTIONS officers. than are
committed from the outside by the popu-
lar type of burglar.
Why is it that bankers are so par
ticular about protecting the banks from
burglaries on the outside said the Sec
rotary of State. while they make no ef-
fort to protect it from burglaries on the
inside.
Look In Prisons and See.
GO into the prisons of the country
and you will see that there are more rob-
berries committed from the inside by I'M
scrupulous officers, than from the out
side.
Il want to remind you bankers that
banks We're instituted for the community.
not the community for banks. l appeal
20 you young men who are entering the
banking business to resist the temptation
that too often comes to the banker to
ignore the depositor.
Farmers Trust Each Other.
Il believe the time will come when
there will be some system TO safeguard
the deposits of the community, and when
runs on banks will be thing of the past.
you bankers will be happier men. The
farmer cannot get a loan from a bank
unless he gets another farmer to go his
security; yet when the farmer asks the
bank to have another bank to go its
security he in effect. is told. you farmers
may trust one another. but We bankers
do not "
In closing the Secretary of State told
the bankers he was not sure that what
he had said was welcome, but he re-
minded them that when he was candi-
date for office they did not ask him II
their opinions OF him were welcome. so.
therefore, he did not hesitate to tell them
what he deemed duty to his country.
L. 5. to Be Banking Center.
Senator Robert L. Owen, of Oklahoma,
declared that the Federal Reserve Bank
system will be the means of bringing to
the United States the banking center OF
the world in addition to rendering the
banks of the country absolutely panic
proof.
The Federal reserve system" said
Senator owen, COulu To-Day supply 10
the country, upon demand, ssD.00O.cH."
He reminded them OF the numerous cases
in which perfectly solvent banks had
been ruined through the spreading OF
false ru:nors which caused the depositors
to rush in a panic for their money. and
told them that under the old system they
were constantly in danger OF having the
same thing bsfall them
Praises ne Banking System.
Under the new system, he pointed out.
one can, in such an emergency, receive
the aid he desires from the Federal
banks, or can go into liquidation within
forty-eight hours by merely presenting
to the reserve bank his assets and re-
ceive cash money with which to meet
his depositors.
Addresses were also delivered by Col.
John +. Bruton. of the reserve bank of
Richmond; Joseph w. Folk. chief counsel
of the Interstate Commerce Commission,
and DIR. Parker Willis. secretary of the
Federal Reserve Beard. w. W. Spaid.
president OF TIE Washington Chapter.
presided. A musical program was pre-
scented between speakers.