The copper era and Morenci leader., 1920-11-19
SAVER MAKES ADDRESS BEFORE
 STATE BANKERS

G. H. Sawyer of Tucson, president of the Arizona State Bankers. assso- citation, made one of the principal ad-l dresses at the opening of the bankers convention in Douglas last week.
 The text of his address follows: This is tie seventeenth annual COZ venticn of the Arizona Bankers asso- citation brings us together, as the fifteenth did-in one of our progress sive southern border cities. Being al So a citizen of the southern part of union, am well pleased to greet here so many oi our members, and also the many distinguishd gentlemen from the large financial centers of our coun- try who have honored us with their presence.
 Some have come to give us the benefit of their knowledge gleaned by experience in our own profession, ip distant parts of our country, and I feel that all have come so that we may become better acquainted and to strive tremendously for the best in- terest of our state, our country and it's banking institutions.
 
 Since our last convention at No gales a little over a year has passed away and many changes have taken place-perhaps the greatest in it's ef- 1 fect--the turning back of the great railroad systems to their rightful own CTS. Perhaps it is well that the dang erous experiment of government own ership has been tried out and now with govrnment supervision and bet ter understanding by both the gov | ernment and the people of their re- quirements, these systems, under the most efficient management, will take l new strides forward and in compara 1 lively short time transportation pro ! blems will be solved which alone, 1 believe, will have great influuece ! toward reducing the high cost of liv-
 ing.
 Time to Settle Down
 With the national campaign over the people of our country will set tie down and give more and better '. attention to their immediate affairs ! From long period of uncertainty we i sliafl all hope to look forward to a I more settled condition in all business
 A man of large affairs many years i ago said to me: This country will
 have it's ups and downs, but never l lose faith-it's progress will always be upward"
 "A few year ago per cent bonds
 sold at or above par, today the best
 bonds, including our federal, state and
 municipals are all selling below par
 but when the high prices for all con-
 modities necome stabilized, seeking not the low level of the pre-war years
 nor yet the high prices which still
 prevail, then will the saving people
 of our country again absorb this class
 of securities. Manufacturing concerns
 which a few months ago could not
 keep up with their orders, have seen
 change-perhaps largely on account of foreign finances, but also largely , because the people are again getting : their feet on solid earth and are spend .ng their money more carefully, buy | ing only what they need most and saving their dollars for a time when one will have the purchasing power :. of two now.
 "Yet it is hard to distinguish be tween necessities and non-essentials In this sate of glorious distances, the automobile has become very much al essential but, unless the price of gas oline and oil can be brought dowI
 and these commodities sold at a more reasonable figure it is bound to have : it's effect on the business of the en tire country, and our state in parti - cular
 : '"To agriculture and it's products must we still look to produce results ' and when this years crops, estimat . ed at twenty billions of dollars, art marketed, the effects are bound to bt : felt throughout the whole land Mining
 'In our own state I find that mining
 conditions as compard to a year agt are: Copper production, about th' t same, also silver but gold has faller s off: of the nometallic mintrals, produc d tion is also about the same. d Let me state here that I am in e debted to MT. G. R. Fansett, mining d engineer of the University of Arizon; l. for this information, which surprised
 him as we'll as me as we though ' there was big falling of in coppe l. production.
 Many minerals are still in tn ,' mountains and when the price of cop : per will again permit of developmen . work, it's production will leap forwar 2 to supply the needs of this and fore ign countries. The mining of gold . the proposition which confronts us !. Every increase in wages has been re U U flected in higher prices being paid fo it's results, except gold-its price
 stationery. This question must b
 met and settled in the near future Q
 gold production will decrease nor e rapidly.
 l. Stock Growers
 Our stock knowing interests hay 5 required much thought and financin
 during the past year; cattle sales i
 the fall were not large-again in tn
 spring little or no demand and fallin r. prices, but the summer rains, whi " late and spotted, gave relief and