The twice-a-week Twin Falls times. (Twin Falls, Idaho) 1916-1918, 1917-09-25
BANKERSIN
MEETING ON
AWAR LOAN
SECRETARY M'ADOO TALKS
TO GREAT GATHERING AT
ATLANTIC CITY
Tells How New Loan
Can be Helped
Lord Northcliffe One of the Ora.
tors of the Occasion Represent
ing the Foreign Allied Coun-
tries at Conference.
International News servicel

ATLANTIC CITY, Sept. 24.-Near- |
ly 10000 of the leading bankers of the |
United States gathered here today to
discuss the tremendous financial
problems raised by the war From
every state in the union they have
come to exchange views of financing
measures and to hear the leading Of
ficials of not only this country but of
the allied nations discuss the money
problems, on the wise solving of which
success in the war depends.
Secretary of the Treasury McAdoo
is here to tell the bankers how they
may aid the nation in floating the
forthcoming Second Liberty Loan and
to point out to them the lessons tc
be learned from the first big borrow
ing. Lord Northcliffe. head of the
permanent British Mission in the
United States, is here to give the
American bankers the benefit of the
experience gained by Great Britain
in the course of three years of war
financing. Members of other foreign
missions will deliver addresses and
join in the discussions of war financ-
ing measures, while Assistant Secre-
tary of the Treasury Oscar 7. Crosby
will tell the bankers how the treasury
las lent the allies nearly two and
half billion dollars, despite the fact
that but two billions have been Dor
rowed through the sale of bonds.
The federal government is known
to be depending on the bankers of the
United States to make the Second Lib
erty Loan and the others which are to
follow successful. They also are de-
pending on the bankers to absorb the
millions of dollars in treasury certi-
ficates Of Indebtedness which the
treasury must sell constantly for the
duration of the war to keep enough
money in the government till to meet
the fabulous payrolls of army and
navy and civil establishments.
The convention which opened here
today wore every aspect of a war
council. While uniforms of fighting
men were absent, there was no less
an air of military Importance about
the meeting, as it was fully realized
by the entire membership of the
American Bankers association that
upon the money supplies of the nation
depends in large measure the success
not only of American arms, but of
the arms of the allies making COM
mon cause against Germany. Every
banker was thinking about the ma
Y tons finances in terms of bullets and
war supplies.
Todays sessions were preliminary
and got the organization of the con-
vention out of the way. The real
work of the meeting will begin tomor-
row.
Among the celebrated officials who
will participate in the convention are:
BENJAMIN Strong, governor of the Fed
eral Reserve banks, of New York
George M. Reynolds, president of the
Continental and Commercial Nationa
bank of Chicago; P. w. Goebel, Of
Kansas City, Kan, president OF the
American Bankers association; Mich
olas Murray Butler, president of Co
lumbia university; Carl VroOman, as
sistant secretary of agriculture; Ne
well Dwight Hills, pastor of Ply
mouth church, Brooklyn, who toured
the country at the behest of the Amer
lean Bankers association in behalf o
the Liberty Loan; Hon. H. r. Brand
and Basil Blackett, famous British
financiers; W. p. G. Harding, COVER
nor of the Federal Reserve board; My
ron T. Herrick, of Cleveland, forme
ambassador to France, and man.
others who are aiding in guiding tn
destiny of the allied nations.
Domestic banking problems will b.
taken up in addition to the nationa
and international affairs. The long
drawn out check collection system
controversy, which has caused shar
division between big city and countr
bankers of the United States, will b
renewed. The committee of twenty
five, an insurgent group of banker