The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-04-28

AA AOM00As
London, April 27.-It was an
nounced officially here today that the /
British submarine which was sunk |
was the E-22, as reported in a wire !
less dispatch from Berlin.
arisen of vital Importance to the
country banks.
These issues are: regulation of in
terest rates; clearing checks at par;
unnecessary and impossible supervis-
ion requirements in connection with
the routine operation of banks and re-
ports of their condition. The two first
named threaten to reduce country
bank income, while the last threatens
q material increase in expense. If
all or any of them are carried for
ward to lengths now being urged by
certain government officials, many
country banks win be forced out of
business. This means heavy loss to
stockholders and viii deny to nu-
merous communities credit facilities
responsible for their past development
and upon the continuation of which
their future prosperity depends.
Farmers, more than any other class,
viii feel the immediate and ultimate
effects of the blow.
My contention is that it is both
unwise and unjust to legislate or reg
ulate on the theory that all in banking
are of this color. A safer and saner
way can be found, a way that will
not deny borrowers the right to OBJ
tain funds at a rate agreeable to
themselves, even though it be two or
four per cent above the legal level.
Bank examiners, both state and ma
tional, are required to devote 80 much
time to non-essentials that they are
side-tracked from the real object Of
the inquiry. Bank officials are stead
| lily engaged in accommodating data
only fit for the waste basket when
their time could be more properly
employed IN studying credits and hus-
ting for business.
do not claim that there is a de-
liberate intention to make country
banking Improbable on the part of
either government officials or city
bankers. But / do state, and state
most emphatieally, that with or with
out intention, such a result is the In
evitable consequence Of present ten
denotes If allowed to go unchecked.
The only way we can check them is
through organization in an associa.
ton such as this, and by cooperation
with the associations of other states.
Yet as matters stand, we are ever
fighting to persuade banks to join
our ranks, though the dangers are
SO plain that Individual banks should
be ever fighting for membership in
the association and for greater eff
cheney and activity by its officers.
COMMITTEES NAMED.
After the report of Mr.. Tilton Pres
ident Keith appointed the following
committees:
Resolutions on the death Of Vice
President S. S. Broadus-D. F.
Green, G. E. Roulhac and F. A. Bloods-
worth.
Nominations-J. D. Norwood, G. q.
Roulhac, ]. J. Campbell.
Resolutions Welles, D. f.
Green, NJ. w. Howard, j. H. Drak-
ford, A. s. Woodhouse.
Audits--D. M. Alexander, F. A.
Bloodsworth, J. S. Crum.
After the appointment of commit
tees the report of the agriculture
committee was read by Judge c. z.
Thomas, chairman. Judge Thomas
laid particular stress on the relation
of the country banker to the farmer,
and said that the object of his CONF
rnittee was to stimulate interest in
agriculture. He said that the gam
paign for crop diversifcation has be-
come a valuable asset, and great re-
suits have been accomplished in many
states where it has been strictly APP
1 piled. The work Of the Boys Corn
clubs took up a great part of the
report, and he spoke highly Of the
work of the demonstrators, who go
about visiting each member and sus-
tanning interest, which accounts IN
high degree for the success Of the
organizations, and teaches practical
farming methods to the farmer while
he is yet young.
/ Chairman Val Taylor Of the com
mittee on legislation then rendered
his report, which dealt chiefly with
the amendment of existing Alabama
statutes.
I After the report of the Legislative
committee reports Of the group vice
presidents were read and delivered to
the president. These reports wete
presented by F. M. Moody of Tus-
caloosa, r. F. Smith of Bessemer
Hogan Jackson, of Albertville, j. S,
Crurn of Brewton, and J. ]. Camp
tbell Of Montgomery. The report OF
III. L. Sessions Of Enterprise was
postponed, and viii be called fol-
later.
After the reports of the group vice
presidents were received the meeting
adjourned until this morning at $3.50.
4 a~wy TTTDT