The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-10-06

Kansas City, Mo-, Sept. 3O.-Not in
deep sense of the responsibility for
the preservation and conservation of
the rapidly growing financial re-
sources of the United States, the
members of the American Bankers
association met in this city this week.
A multiplicity Of problems have been
thrust upon the banking fraternity dur
ing the past two years, some of them
growing out of the heavy expansion of
domestic and foreign trade, and some
from the extremely complicated inter
national financial situation. Perhaps
no annual convention in the United
States is of greater Importance to the
commercial and industrial community
than that which calls together the
bankers from every state in the Union
and certainly no group of men are
more solicitous for the general well
fare of the country than are the
1000 delegates which thronged this
city this week.
While bankers have always been re-
garded as the custodians of the greater
part of the monetary wealth Of the
country, they are in more important
sense the agents by which this wealth
is directed into various channels of
usefulness, so that the surplus funds
of individuals and organizations may
be employed in the development and
expansion of the various enterprises
which contribute to the prosperity of
the nation. 1t is for this reason that
the newly acquired wealth of the peo-
pie of the United States has increa sed
the responsibilities of those who must
direct new resources into useful and
profitable channels; the science of
banking has in fact thrown off the
odium that was for such long time
attached to the money Changer" and
has become a most dignified and hon
orable profession.
Few people have ever taken the
trouble to inquire whether the paper
currency, which forms part of their
daily burden, is in the form of bank
notes, federal reserve notes, gold GER
itfidates, or United States treasury
notes. They are interested only in the
denomination of the various notes, for
this alone is what determines their
value as purchasing agents. This is
because the science of banking and
currency has provided the safeguards
for the correct and proper issuance Of
such certificates and guarantees Their
value in every part of the civilized
world.
Speaking on this subject here this
week, the Hon. John Shelton Williams
comptroller of the currency, empha
sized the fact that during the past
fourteen years the resources of the
countrys national banks had increased
from six billions to fourteen billions
of dollars, and the state banking in.
stitutions from six to over fifteen
billions; that since July, 1913, banking
resources had increased 80 per cent
and that the earning capacity of the
forty million bread-winners was such
that the possible average saving of the
individual wage-earner might well be
placed at one thousand dollars per an
mum. Of course the abnormal con-
ditions which have existed during the
past two years on the European con-
tinent and the consequent worldwide
demand for American products have
been the largest factor in bringing the
wealth of the world to our shores
AS a consequence we have purchased
back our securities from European
holders in the value of over two
billion do liars, and loaned one billion
dollars to foreign bankers and govern
mentS.
Nevertheless, the greatest criticism
which the bankers of the United
States are now making of their fellow
countrymen is their apparent inability
to apply the most elementary princi-
piles of thrift and frugality to their