The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-04-22
TIE HAs#KIN LETTER
AMERICAN INSTIT UTE OF BANKIl
81 Eredert. ). A i. j =

AMERICAN iNSIll
II 80 Frederts
Not one In d hundred OF the bank
failures OF this country are due TO
!: dishonesty upon the part Of anyone
tconnected with the bank said a. gov
ternment bank examiner recently.
The failures are due solely to ignor-
4. ance or a lack Of ability to meet the
responsibilities laid upon hem
The bankers of Chicago have shown
their appreciation Of this truth ina
practical manner BY creating an en-
idoWmcnt fund to besused III educating
the young men employed In the banks
of that city so that they may be COM
tpetent to handle safely and efficiently
/ the money placed in5their care
At the annual meeting OF the Chi
Icago Chapter of the American Insti-
tute or Banking a few weeks ago. 1T
BANKERS of that city had already sign
led a document pledging the payment
lof $50 annually for each million of
their invested capital and surplus to
tarnount to $4,000 in ten years RS an
tcndoWment for the educational work
tOf the institute of Chicago. 1t is fully
respected that this endowment fund
EWilI reach 100000. by 1925, when
1.-The contributions Of the banks w
cease, according to the present plan.
That bankers will voluntarily devote
Isuch 4 sum to this purpose proves
I their RELAXATION of the need of giving
boys a practical and satisfactory edu-
cation in this particular line.
This special education is only to
be blamed through the instrument
TALLY or the American Institute OF
Banking. an organization now having
a mem bership of over 10, 900 anlbI-
(ious young men. who are willing to
devote a part OF their leisure, and
I1nake small payments OF money, for
AN education which will enabl them
Ito fulfill their obligations in tbs
Handling Of other peoples money
more effectively. The institute Is a
protegc OF the American Banking As
socfation. It has its national head
quarters and educational division in
| New York, but sixty local chapters
1.-THE cities having sufficient number
Of banks to warrant them. These To-
cal chapters have their own club
E5rOonls and regulations, but all are
pursuing the same courses of study,
using text books issued by the educa-
tional division. 4 VI.
The primary object OF the OrganiZa-
ton is to fiS standard OF education
l;upon banking Subjects by means of
official examinations and the issuing
of certificates graduation. To quail
1 fy students for these examinations, a
Estandard course OF study In the form
Eof serial text books and collateral
exercises is provided No other
books are required. The study course
Lis divided into two parts: Part i 3 is
Icalled Banking and Finance am
Ipart 2 IA, Commercial and Banking
i Law. IA +
The local chapters will assem- bic in
la weekly class under a competent
i teacher. who must, however, adhere
closely to the lessons in the book.
i Other meetings may be held for social
purposes, debating and other objects,
but the institute work requires a
i weekly standard lesson. Under this
provision each part in the study
course can be completed between the
months Of September and May when
the final examinations are held.
In cities not large enough to or
n
the institute may acquire this edu-
cation by correspondence. These cor
|respondence mem bers from chapters
Of theil, own and can complete the
work In the same time as the mem Der
of local cha piers. They send IN each
II lesson to the chapter neadQuarterssin
Y New York. and after the passing OF
4 the final examination receive the
Il same certificate as the others. "A post
il graduate course was esta blfs ed last
4 year, which includesStuo parts; the
4 first deoted to the history and prin-
4 ciples of banking and the second to
Especial studtessupon timely topics
The two ubjects selected for this
4 years work include the federal re-
serve act and foreign exchange. Five
,Ilother subjects are TO be approved by
1.-THE post graduate committee. Tho
theses upon each subject must be in
{. the hands Of the educational director
il by the first of June each year, hi in
4 order to receive consideration Each
lstudent is permitted to select the
sfsu bject of his own post graduate
4 thesis under the approval OF tile edu-
3Ecational director. #
Within the present year part OF
1.-THE regular study course has been7re
tvised to include the federal reserve
TACT with suitable comment upon its
While a knowledge OF
4 English is not listed IN the require
inlents for the institute it is consider
led an essential business qualification.
Il To su pplcme nt the resources of those
Il VINO feel. themselves lacking in this
direction special courses in English
have been arranged and special text
,Ebooks upon English grammar and
rhetoric provided for institute mems
4 bers. s ia H
Since the successful banker must
a1sso be man OF affairs and able to