The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-05-11
The Bankers Convention.

There was time when the farmer.
the foundation Of all prosperity in the
South. regulated the extent Of bis crop
according to the buds on the persimmon
trees, and the blooms on the blackberry
bushes Tho banker Is his barometer
now.
The bank ia the keystone in the arch
Of business The condition Of the bank
reflects the financial ho4,t6 u the com
munity. II has come in recent years.
with the growing trend toward special
nation and the necessity for business
principles in all activities. 10 he the
clearing house OF industry and com
Tlieroe OF every kind
There have been many reassuring de.
velopments in business within the past
few months Business received an i'm.
portant impetus in the ruling OF the
supreme court. that the United States
Steel corporation Is not a trust in the
meaning OF the Sherman Law; that It's
size ana control of resources do not
prove that It has unfairly dominated
the steel trade, and that It's dissolution
now would Involve such risk OF eco
nomie ana financial disturbance as
weuld endanger the public interest. The
second was the ruling that stock divI-
The third that tho interstate commerce
commission. in determining the. physl-
cal valuation OF railroad right OF ways,
yards and terminals tas a basis for
fixing freight rates and returns to
st5ekholders) should take into account
the present value instead of the original
cost
The Webb law, permitting export
combinations, the Edge law. empower
ing banks TO act together in Financing
foreign trade. and the provisions OF tho
cumminn- Eseh law. enabling railroads
TO consolidate. taken In conjunction
with the steel decision, suggest that
the country has emerged from the pc
Rod when every big business was under
suspicion because itswas big,
on the whole there is a saner Attitude
toward concerns whose real offense was
conspicuous success.
The banker OF the modern kind Is far
removed from the old.tlme theory that
the banker should live in vault keep
his head in a money bag and his hand
on the key to the door,
According to the new dispensatlon In
banking as In business. every customer,
stockholder and deposltor Is partner.
The success Of a bank is in proportion
to the service II performs for the com.
( The modern banker Of necessity,
must have 4 variety OF interests. He
u lawyer guardian. administrator and
friend TO the community, He knows
he problems OF the farmer, the prob
ems OF the merchant and because OF
iaried legitimate affiliations, he is bet
Tor able 10 keep his institution on an
sven keel
The Tennessee State Bankers asso-
liAtion comprises the leading citizens
Of every community 1t Was this or
gani1ation that finally succeeded after
years Of disappointing effort, in having
the legislature enact the present strih.
gent banking laws now in operation In
lhs state.
. The assoois ton has been factor In
the activities Of all the people 1t has
inspired confidence and sustained It.
il is doing a splendid work Under the
OF Spencer Thomas, the
president it has had an eventful year.
The bankers have handled bic problems
with consummate skill and tact, and
nave met many delicate problems with
farslshtedness and Ms.
com