Omaha daily bee., 1919-06-12

were i'll existence. He detailed the
method of obtaining a circulating
medium, explaining that each and
every bank issued its own currency
and that the same passed as real
money within the country around
the town in which the particular
bank was doing business.
In behalf of the Omaha bankers,
Mr.. Willard welcomed the visitors
to the city, assuring them that the
financial institutions here regard it
as distinctive honor to have the
bankers of the state with them.
Speaking for the visiting bankers,
,, John NJ. Flanagan, cashier of the
Citizens Bank of Stuart, responded
to the addresses of welcome. He
thanked the Omahans for the cour-
tesies extended, adding that II de-
sire to quote the words of the Ogal-
lala Sioux and say, We come with
good hearts,"
Doctors of Financial Ills.
Richard S. Halves, vice-pres;dent
of the Third National bank. St.
Louis, and also vice-president of
the American Bankers association.
spoke on the Independence Of
Bankers" taking the position that
they are the doctors of financial
ills and some of the ills with which
families are afflicted at times.
Detailing duties of bankers and
the responsibilities that they owe
the public, Mr.. Halves depressed and
went into a discussion of the rail-
road proposition and the operation
and control of transportation lines.
He urged the necessity of the gov
renment returning the railroad prop
critics to corporate control and own
ership at the earliest possible date,
though he thought that possibly
some government restriction should
be maintained. He characterized
government operation of the roads
as inefficient and impractcable and
not satisfactory to the public"
Mr.. Halves expressed the opinion
that during the readiustment period
following the war, to attain the best
results, labor and capital must rec
ognize each others rights and work
together for the good of the coun-
try and its people. its business and
its institutions. He asserted that at
this time, 10000 propagandists
throughout the country, we'll sup
piled with money. are seeking to
stir up. discord and strife between
labor and capital. These men lie
pictured as being dangerous to the
communities in which they work.
their main purpose being to tear
down and destroy the institutions of
liberty. He urged going after for
eign trade and holding it, that goods
of American manufacture might be
found in all the markets of the
world.
Governor Discusses Code Law.
Governor Mckelvie discussed the
administrative code, asserting that
the passage of the code bill and that
later its going into operation is not
a new idea in Nebraska. He stated
that two former governors, More
head and Neville, had pledged a
similar code to the people of the
state. He asserted that while the
code contains 5l2 pages, but 20
pages constitute new legislation.
The governor discussed the code
topic by topic, explaining that under
its operations the constitutional Of
fees of the state are not interferred
with, it having to do only with those
created by the legislature. Of these
it eliminates numerous boards, con-
the, former 20 subdivisions
Of state government into six de-
partments, with responsible head
over each.
The afternoon session closed with
an address by w. J. Bailey, former
governor and congressman of Kan
sas, but now the owner of several
banks in the state and also a director
Of the Kansas City Federal Reserve
bank.
Ex-Governor Bailey paid high
tribute to Nebraska, expressing the
opinion that with the excetion of
Kan sas, it is the best state in the
inion and that the two states are
20 near alike that you will be un-
able to tell when you pass from one
nto the other"
The ex-governor dwelt at length
1pon the benefits that are to accrue
oy reason of the establishment of
he reserve banks, contending that
hey are protection to state and
rational banks; that they make it
possible for banks to do business
without carrying such enormous re-
serves as in the past and that they ,
establish the credit of all insttu- q
ions having dealings with them. !
Feels at Liberty.
Asserting that he was a republi-
an, Mr.. Bailey told the bankers
hat during the war he did every Z
hing possible to hold up the hands a
# President Wilson; that he went 7
sugar in his coffee and ate :
ran bread, but that now he felt at 4
'erfect liberty to express his opin- d
ons freely. However, he did not 3
riticize the president. t
The speaker asserted that he look d
d upon the future problems of the E
ountry with considerable concern, :
tut believed that they would be set .
led in the interests of human liberty '