Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-09-29
BANKERS PLEDGE FULL
AID IN WINNING OF WAR
Organization Especially Promises Ef-
forts Of Members in Sale Of
New Liberty Bonds.
HINsCH ELECTED PRESIDENT
McAdoo Impresses on Association Ne
cessity Of Maintaining Gold Re-
serve, and Lays Stress on Need Of
Federal Insurance for Soldiers.

AIbAN1lC CITY, N. Jp Septem Der
2S.-The election Of Charles A. Hinsch.
Of Cincinnati. as president; the selec-
ton Of Chicago as next years meeting
place. and the adoption of resolutions
plcdging the organization to every
effort that will lead to winning the
war. and especially pledging It's mem
bers to assist in the sale Of the new
Liberty bonds, featured the concluding
session OF the convention of the
American Bankers Association here to-
day.
The resolutions were adopted after
an address by Secretary McAdoo, Of
the Treasury Department, in which no
urged the bankers to keep every pos
sible dollar ready for patriotic duty.
Another resolution passed urged
members to cooperate for collective
action in impressing upon legislative
and regulatory bodies the necessity Of
taking under consideration the ques.
lions surrounding the railroads to tho
end that railroads credit may be
strengthened and railroad expansion
encouraged.
third resolution adopted requested
Secretary Baker to reconsider his de-
cision prohibiting banks from estab-
fishing branches at the various army
cantonments. The resolution set forth
the need for promoting thrift and
economy among the soldiers as we'll
as among the people at homo. It
called upon the banks in cities near
environments to establish field banks.
A resolution which provided that
bankers urge that all new government
war loans be made tax free failed OF
passage. The vote against it was
about 2 to /.
In addition to Mr. Hinsch. other of1-
GERS elected included Robert F. Mad
dox. Atlanta. vice-president: Frederick
E. Farnsworth. New York general sec
rotary. and E. 81. Wing. La Crosse,
Wis. treasurer.
WANTS TO KEEP DOLLARS
READY FOR NATIONS USE
Impressing upon the bankers the
necessity for maintaining an ample
gold reserve for the governments uses.
Secretary Of the Treasury McAdoo fire.
qucntly digressed from the address he
read to the American Bankers Asso-
citation here to-day to reiterate the i'm
portance OF keeping every possible
dollar ready for patriotic duty.
The secretary laid particular stress
on the need Of Federal insurance for
the soldiers.
The bankers were pleased with the
news Mr. McAdoo brought from the
Secretary OF Agriculture that the 1917
crop will reach s11.ooo.o00.ooo. a gain
Of $4,000. 100000 over 1916. These fig
ures, Mr.. McAdoo said, had been esti-
mated few days ago by that depart
mcnt.
Secretary McAdoo made the recon-
mcndation that the association appoint
/ q committee to supervise and suggest
regulations as guide to the members
as to what constitutes necessary" in
vestmcnts during the period OF tho
war. in order to conserve every avail
able dollar for war purposes
Vast oversubscription Of the $1,000
100000 second Liberty loan was con-
fdently predicted by the secretary,
calling upon the bankers to give the
same patriotic support to the new bond
issue that they gave to the first.
1T has been urged upon me-" he
said. that many men OF wealth will
refuse to buy the per cent bond with
liability to superncome taxation.
should be loath to believe this but IL
it is true. the position of the govern
ment must always be to offer q bond
upon terms fair and equitable to all
possible appeal to all the people with
out regard to the fact that a man may
be rich or poor"
STIRRING EXPRESSIONS
OF LOVE FOR AMERICA
Germantown retiring president,
Peter Goebel, of Kansas City, and n
man of German blood. Charles Hinsch,
of Cincinnati. elected to succeed Goe-
bel. drew storm upon storm of applause
from the vast assemblage by their un-
compromising arraignment of the pow.
ers that now rule the land Of their
fathers. and their stirring expressions
of love and loyalty to America.
Besides Secretary McAdoo. Assistant
Secretary of Agriculture Vrooman
Joseph Hirsch, Texas banker, and
the Rev. Newell Dwight Hills, D. D..
pastor of Plymouth Church, Brooklyn,
were among the chief speakers of the
day. In dramatic eloquence, the ad-
dress OF the Brooklyn clergyman stood
foremost in the patriotic calls. Dr.
Hills has just returned from a tour on