The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-09
BANKERS PLEAD FOR
Big ARMY AND NAVY.
Pledge support for Prepared
ness After Henry ID. Esta-
brook Stirs Them.
RESERVE ACT CHANGES

SEATTLE. Wash. Sept. S.--The Ameri-
can Bankers Association went on rec
ord to-day IN favor ct greater military
and naval preparedness for national de-
fence. after the completion of an ad-
dr,ss bv Henry u. ~Estabrook. New York.
Overwhelming number of ayes and only
ono no greeted the resolution adopted by
the conventions. offered by ex-Congress-
man pugsicy. president OF the Westchcster
National Bank OF peekskill. y. Y,
strongly approving and pledging sup
nor, To the states as well AZ to the
national Government to secure prepar>
edncsS.
Frederick \. Delano. vice-goNernor Of
the Federal Reserve Board, and William
A Law delivered the principal ad-
dresses this morning. Mr.. Delano spoke
on the operation Of the Federal reserve
act.
The convention voted to attempt TO on
tain An amendment to section 10 A
OF the Federal reserve act. This amend
men, would give member banks not IN
the Federal reserve or central reserve
cite, an option Of keeping 4 per cent.
Of their reserves with any national bank
IN any reserve or central reserve city
In the United States, or within "A radius
NJ 200 miles OF the member bank or
within the f'ederal reserve district, in
addition 10 the option that a membe
bank now has OF keeping such 4 per
cent. reserve In its own vaults or in
the Federal reserve bank.
The committee on nominations decided
70 recommend James Il. Lynch OF Los
Angeles for president and +. w. Goebel
Of Kansas city for vice-president
The convention also adopted an amend
nent to section 52i9 OF the Revised stat
utes relating to the income tax.
NJ. Estabrook said in part:
1T is hardly probable that the Euro
pean war situation at the worst VIII
Involve US in armed conflict. though 1t
may lead TO rcprlsnls and demands for
rcparatipn. Both rcprisals and repara-
ton We could forego. even at the cost OF
prestige and a nodicum Of honor. rather
than challenge cambat with our SUI
periors In strength.
But what stuns and almost stupefies
Us is the udd,n discovery to ourselves
OF how far We nave separated ourselves
from kings and all they stand for and
from all those who share the sordidness
OF their ambitions. Neither the Allan.
tic nor Pacific measures the distance OF
that separation. 1t is intcrstellar-as
wide as the reaches OF thought itself.
The investment that suddenly fell
from the Yelled Prophet in Tom Moore's
Ialla Rookh' did not more suddenly
nor more completely reveal the hideous
and frightful ugliness OF the face 1t hid
than did this war reveal the masquerade
of kings. Faith. honor. truth, justice
mercy, righty ousness-all the tremen'
dous words which the human hear
throughout the centuries has been gath
ering TO itself to spiritualize and softer
IL are TO kings hut empty sounds deac
as a cracked cymbal.
IS there any magic in the mann
America 10 lull passion. lust. greed
o. to protect rs from their conquest
And yet America is the best hope OF
humanity. Here, IL anywhere, il the
Ark OF the Covenant. Every dollar in
our Treasury and every rcd ~corpusclt
in our blood should stand pledged to il:
defence. We have sworn ar oath befor.
men II angels that no kingly foot
shall ever rankle the clean earth OF oui
Western world. Do we propose to keer
that oath?
Weaker Than Di~shySater.
I'VE boast our strength to repel at
tack when we know we are weaker thar
dishwater. While every other natior
has been preparing for aggression ",
hay not made ready even for defence.
And yet ! would heartily advocat,
Nr, Bryan's Quaker policy Of non-re
sistanCe rather than "A policy of hal
Preparedness. ! had rather scrap ever,
Gun and warship we own IL we are no
70 add to them.
TO say that we are too big or to,
proud to fight in self-defence Is. with al
respect to the estimable but mistaken
gentleman who said II, absurd anC
ruerile. To say that a mob OF a million
~ -. NJ tnnsrn tpaI nftlsA,r,. ,.,A,,lI L.,
To arms and put TO flight the bulle
tested soldiery of Asia or OF Europe Il
wors" than puerile-it is perverse stu
pidity.
I'VE must forthwith spend money 10
defence, and lots of II. We must know
that We are safe even from the tempta
=" Ton of attack. Our peace and futur
happiness depend upon this assurance.
i admit that a large standing arm,
is a perpetual menace to the YER,
Government that creates II. Histor,
shows that armies have mutinied an,
overthrown the Governments they wer,
expected to protect. Armies have beer
at once incubators and tools Of kings
80 not the least debt OF gratitude whicl
America owes TO Providence is her i'm
munity from this danger.
Navy Never RebeIIed.
lh'I' ~ no instance on record wher,
ssnavy, however big, has turned agains
j. ne government that fostered II and II
q me very nature Of things a navy lack
the opportunities as well as the incen
i've to foment rebellion. Wherefore.
I iarge navy and a small standing arm,
should be our programme.
But, says Washington, a free. people
should be disciplined and / think h,
meant the whole people. II has beef
suggested that the State militia shoul,
DE- brought under Federal domination
rms ought TO be done. of course. TIL,
INST duty Of an American ~voluntee
should be 20 his country not simply Il
a locality.
" may cost the militia OF our severa
states the companionship Of those WIFI
JON their ranks for a summer outinJ
Ia'h"r than for business, but those VIII,
90 JON will be soldiers neither OF tii
nor tluS"l but Of "A different metal an,
d better mettle. The concerns of an,
particular State are inconsequentia
''ulpdred with the concerns of TIL
nation our necessities and our law
nay" outgrown State boundaries.
Kermit me further TO suggest h
.,'r' Is no better auxiliary to n nav.
wan a merchant marine. nor liz Their
any 'hstrumentality that contribute;
~ Ne glory and riches OF n country
m" was when the American Ma
covered the seven seas and the. oceal
highways, which are always paved an,
'"S' h"thlrg for repairs, were as mucl
ours as E~ngland's, Now the ship tina
ms our Nag Is a lonesome spectacle
SUBJECT OF derisiOn-and such few shin