New-York tribune., 1920-10-20
BankersPredic
Trade Boom i'm
HardingVictory
Convention Members, Opti-
mistic of Future, Say In
dustries Are Moving To.
ward Sounder Conditions
Williams To Be Answered
Attack of Comptroller ON
Policy of New York Fl.
nanciers Is Denounced
From a sto1 Correspondent

WASHINGTON, Oct. 1o.-At this
moment, when the American people
are looking anxiously to the bankers
of the nation for guidance as to
whether we are drifting economically,
gathered here at the forty-sixth an
nual convention of the American
Bankers Association. The registra-
tion is unprecedently large, and the
interest in the discussion is at new
summit because of the eagerness of
the delegates to match their opinions
as to the outcome of the downward
reaction through which industry is
now passing.
Although inclined toward optimism,
the bankers have an experimental atti-
tude toward the problems with which
they are graphing. They are for the
most part unready to dogmatze as to
the precise time turn will come. Yet
lobbies of the hotels here where the
bankers are stopping that the election
(Which they expect will mark a de-
csive Republican victory will act as
a stimulant to trade. Moreover, many
of the financiers believe the taking of
Inventories after the first of next year
Will constitute another transition
point, since such self examinations
will inform business men precisely
where the recession in industry and
deiation of prices have left them.
Bankers Optimistic of Future
Richard S. Hawes, president Of tho
association, who has probably con-
versed with more of the delegates than
any other single individual here, de-
clared tonight in conversation with
The Tribune correspondent at the New
Willard Hotel:
THE sentiment Of the bankers here
is enthusiastically optimistic regard
ing the future. We all feel that we
are going to go over the bumps in
moving on toward sounder fundamen-
tai conditions. We don't believe that
there is an important weak link in
the country"
IN the consciousness of the bank Of
ticials assembled here the attack of
John SHELTON Williams, Comptroller Of
the Currency, on the call money policy
of the New York banks remains as an
lrritant which cannot be ignored. In
his opening address this morning
President Hawes took official cogni-
2ance of the issue, remarking in the
first general session at Keith's that "a
IldlicHBc, III my OplulOu, mas Deen
made to the integrity of the bankers
of America He added that he trusted
the "resolutionsf committee will take
cognizance of the matter and answer
1T IN proper manner"
Will Reply to Williams
The reply of the bankers to Mr.. Will
liams's thrust will undoubtedly come
out of this convention. National bank
officials have been disinclined to an
sWer the Comptroller singly Some
take the position that the bankers
should remain silent, on the ground
that a response will bring another
blast from Mr.. Williams and give him
another opportunity to spread his
propaganda. At Washington some of
the bankers, including Representative
McFadden, chairman of the House
Committee on Currency and himself a
Pennsy ylvania bank president, contend
that Mr.. Williams does not hold Office
legally, since the Senate has not ap-
proved his reappointment and the
President has neglected to make an