Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1920-02-26
THRIFT THE THEME
At BANKERS MEETING
observation-disclosures of Ver-
mont and Massachusetts, and
Boston Financier Declare That
Americans Must Get to Work
TO Meet Foreign Competition

A large attendance Of bankers from all
parts of the State gathered in this city
Monday for the tenth annual conven
ton Of the Vermont State Bankers asso-
citation. Tho subject most dealt with by
all of tho speakers in discussing the
grave problems In connection with recon-
struction work was thrift. and the best
way for the banker to play his part In
the delicate process. A number OF promi-
mont men of affairs. including Lieut.. Gov.
G. NJ. Cox Of Massachusetts and George
=. Brock, president of the Home Savings
Bank Of Boston, addressed the gather
ing, but the subject of interest paid by
savings banks and trust companies, which
was one of the subjects most looked for
ward to for discussion was not touched
upon. State Bank Examiner George b.
Carpenter was present and said that ho
had expected to take W this subject.
hut was unable to at the present timo
for the reason that, in the last few days,
new conditions had arisen and a decision
was now pending from the attorney
general, which might alter his first
ruling.
The afternoon session was held in tho
roof garden Of the Hotel Vermont. Presi-
dent Levi H. Bixby of MONTPELIER pre-
e,oeo' Aiter 'ne ''es' !. - e".ui. nay
sNen 'ns inVooal'oh' 'no mn ~ I n,,'i.n
weicoineu the oanheis 10 tn's CITY. w. y.
ponnso.' ,"s".e' Vi inc reopie N"''O""'
'a d. u Dat n,"'e '"e ieep'iou'
Inc rep"r' vi tne eHecutiVe counci anu
seore'ars ny - o "eos'or "a barton
showed that at the present time 100 Of
the 10 banking institutions in the State
belonged 10 'ne associat'on' This is a
gain over a wear ago and an atteupt to
get All III hne viii De maze TINS year
The report OF the treasurer, D L. Wells
OF orweii. also was read and accepted
inc annual ADDRESS OF the president of
the association L. H. BiSby or Mont
peher' 1oiiowed. MT Bixby said in part
PRESIDENT BIxBY'S ADDRESS
Mot lony s;rco do,,ocroc,, and ,r+ocracr
ware In a death strurg,o for s,,nror,,o,,
and tho issue has hoon settled by the ,,ior;-
ms triumph ~ dor,ocr,o,
TT i.,,,a Ill, ..,r..r,
entered the great war i, Anri, 1ot7 ,yero
issues IN bo NO, ,ra aoniaI1 ~. earao
This IVA had and u.o usod !. .3,,,,tho,,t
stint ~, ,;,,,It. q. % s,,ooosst,,, ,,,,,a,,,s,,,.,
TODAY tho issues .ro differont IT,, 4,
wac n oueat,on ~ dos,ruc,ion ,,,,xa,.o
,,yelv o,.y ro-doy !, i. ,,,,o..ia,. =.
construction ~ nreservat,or 80 avis,i,.
I, Nd lpv
,oonv ont of d;scord 40, o,o o,astie, 49,.
many immeasur,h1v wore d;sf;ou,t nr ~
tuition rrhen II uos ,,oonIo ,,,ito, -,
a strug,,o oga,nst oor,r,o., .a,,,. ~
DIV IL T. n noon,o a,,ida, ~, ao.f;,a.i
,rteros,s - gro,t ,,,arr,,,t,,a. .aa.,,i,',
a multitude NJ issues that ,nust no nat
and settled r,ph, or nat,ona, disasto. ,,,;,,
rosuIt
While r 49,, o. .,,. -, -, A.,
bonse IN ~. f,t,,o 40 MO- o.. m. -,
would mt oatr,ch. Ii,,, bIi,a ,,,,.earf b.
nresent doro.,u Co.,. $780,. go,
s,reo. ,rd tbro,,n;,> ~
oyor ,ho ,,.,,a.,o, 10 49,, " 500
a state ~ rono~I, ,rov,a 10 ,,,,is ,au .,s..
cr,n;n., We NC, 60 49, -,
|uipentIv and foar,.ssI,, CO. a,,,.,..-
requires rothing Iass c., .,,,,',.
Wanda !, ord 40 h.r,,or, ~ -. oe
duty Rut what &c INV d,,t,-o
shat, wa do g, 1'"' Nv"
In tho first r,o, ,.o .., 49,. ..,
VIZ have raasa,, ~ w '.s .e ~, s.roI's l
noss os yorn,o',. ~ 49,, ns p.ouu u ,ie sound
,ost ,no,dant ~ IVY e'uo' Tue
strain go s". wal WIN icSs
60. s.a' ''''As y, any o'ner eastern
mont hu, tho rot,o, NJ. u,,s 80
Of rona ro,, ao,, ott,s 'u Neep
as ha,;a,o e., ior'
.be.d ,nd g., ~. ., '.''ie'
fr,in tror, a,,,,,, .hnt -
ne sa,5,o, 49,. T.,
n four NOV COW. -. A.. s''e "
advice % ~ t,o,,,. !..,.1Io ''iue, |,
',,l % Tue na''h commissioner, and
FOR yo,, c,nno. 90, go. -. ~. 80,
in. witbou, den,at,rr rasorr.aa . - go en-,
ous,v - continued proaa,,, oo.s,ssas
the ;r,ores. ~ IN. h,n,, is $50
the intorest NJ an -rho r,i.for,,ra -, ~,
bank is in doeree tta ,,,,stn.,,,,, -,
all and nothing should -. aoro o.. =.
dividuai Gain ,h.t n,t,, h.uo ,ao ~.
to seriously weaker another W. sho,,,a
keep strong. for the day of reckoninr
will surelv come and i, r,,,, 30 ,o.,,os
than we are aware. Let us be prenared
I The federal reserve sy.tem has provad
itself Of great worth as a stabilizer. hu,
| there is an element OF weakness as uel
as of strength. in times of stress. in the
ease with which member banks NAV pe,
money for their customers tending 10 the
initiation of the bubble TO the hurstin,
point; unless a wise and restraining dis
erection is exercised by the borrowing and
lending banks
We are in period of great imitation
| There never was SO much money q,
money Of so little value, as to-day.
| recent statement Of the comptr,o,,e,
OF the currency shows that the resource.
| of the national banks were $500 ZIG M
more than ever before reported. and n
SIX years the assets have more thai
doubled.
This statement also shows that or
| November II, 1919, the resources Of IN,