The Washington herald., 1920-06-08
BANKERS OPEN
SECOND MEET
More Than 100 Members
Aboard Midland on eM
Annual Convention.
BOUND FOR NORFOLK
Many Interesting Talks
Given by Heads of
Association.

Instructive speeches relative to
the local banking situation by
Washington bankers featured the
opening session of the second annual
conference Of the District Bankers
Association aboard the steamer
Midland" yesterday.
NJ. ID. Rosenberg. retiring presi-
dent Of the organization, opened the
conference yesterday morning and
was followed by Col. Robert n.
Harper. incoming president of the
association, and former first vice.
president. More than 160 bankers
attended the conference sessions
yesterday and enjoyed the trip down
the bay toward Norfolk, their desti-
nation.
The keynote of the days discus
sion was delivered by Col. Robert
n. Harper in his inaugural speech.
He declared the local banking situa-
tion to be in need of practical legis-
lation by Congress and took the op-
portunity to say that Congress paid
too much attention TO politics and
not enough to a study of the system
of taxation"
I'm my judgment. this war debt
should be divided among future gen.
erations," Harper said. II believe
that il would not be advisable for
the government to buy, in open
market, a large block of the short
est time Liberty bonds at whatever
price il can. and issue in lieu there
of an equal amount of 4 per cent
non taxable bonds payable fifty
years hence" declared Col. Harper.
Il am further of the opinion that
graduated tax on retail sales should
he int ha
graduation should be made high as
to luxuries or high priced non-es-
sentisls regardless of what such
non-essentials might be" Col. Har-
per suggested that labor and capital
settle their disputes by means of a
Federal board and asked Federal en-
actment against the use of the
strike" by labor.
Legislation which would remedy
the shrinkage in Liberty bond val
ues was asked by Rosenberg in his
address. Substantial losses are
forced upon the people who pur-
chas sed bonds during the war
through the persuasion of the gov
ernment and who are now forced by
circumstances to sell their bonds
II is time that legislation be enactedi
to provide for these people" he de-
clared.
Constructive cooperation was
urged of the association by Joshua
Evans jr. vice president of the
Riggs National Bank, in the princi-
pal address of the evening session.
Evans declared that the stimulat-
ing influence for full cooperative
activity must come from the active
men in this association; the leader
ship for carrying through impor-
tant reforms in the association must
come through the clearing house
association. and the importance Of
the support Of all the heads of all
our larger institutions must not be
overlooked. il cooperation is to
reach the maximum of success.
Victor s. Deyber, past president
Of the Washington Chapter of the
American Institute of Banking,
urged that Washington bankers
support more earnestly the work Of
the local chapter.
Judge Thomas T. Patton. general
consul of the American Bankers
Association, New York City. and E.
G. williams. also of New York, took
part in the morning discussion.
Patton extended greetings from his
association.
Col. Harper presided over the af-
ternoon session of the conference,
as new president of the organization
while NJ. D. Rosenberg presided over
/ the morning meeting. John B. Lar
ner. second vice president OF the
association. will preside at the ses-
sion this morning and Rosenberg
will be in charge of the concluding
session this afternoon.