Evening star., 1921-10-16
WASHINGTON WILL ENJOY IT'S
LARGEST WINTERS BUSINESS
Outlook Never Was More Promising.
Broker Offers Plan for Street Railway
Merger-Bankers' Club Proposed.

ris Plan" Company OF Washington,
has been appointed a delegate from
this city, and has left for st. Louis
to attend the annual convention OF
the Morris Plan Bankers Association,
to be held in that city on October
IL. Is and 10. He will address the
convention on the 18th. Mr.. Byrd
will remain in the west for the bal
ance Of the week.
Cancellation of Debts.
On this subject a correspondent Of
the London Daily Chronicle. quoted
by the New York Times. argues that
British trade can only recover when
the trade in other countries recovers,
and that, therefore, Great Britain
should take the lead in helping other
"In regard to our allies" he says.
they are all financially indebted to
us. Any repayment of their debt or
interest on their debt maze to us
will have an immediate effect on the
exchanges, SO that their foreign pur-
chasing power would be lowered. In
other words. each payment to US of
debt or interest has an effect upon
our exports as bad for us as that
OF tariff directed against US. Our
allies misfortune turns out to be also
our own"
A further consideration which he
points out is that it is extremely
unlikely that most of the allies. at
least within any reasonable time. Will
have the means to repay their debts;
that it is impossible to tell when they
will be In position to repay. and in
the meantime it is doing harm to
them and to Great Britain. IF they
can repay tomorrow" he says. "the
setback to our export trade would
be greater than the benefit to our
treasury"
Discussing then the question
whether America would join in an
all-round cancellation. he says that
even IL America should not agree, he
would still propose that all allied
debts to Great Britain should be can
celed outright in the financial inter-
ests Of both England and the allies,
and to the promotion of better un-
derstanding and good feeling, and
adds: Nor is IT likely that If we pur-
sued the more generous and surely
more enlightened course. the United
States could long fail to follow suit
Could she long stand out to her own
palpable disadvantage and discredit?"
For Bankers Club.
Doesn't this sound cosmopolitan?
1t was one of the suggestions Of
fered during the preliminary discus
sfons of the committee appointed by
John b. Larner, president of the Dis
trict Bankers Association, in con-
nection with the proposition for
housing permanently or temporarily
the different financial and security
organizations of the city.
W. w. Spaid of the committee
broached this subject.
Before the end of next year there
will probably be fifty banks dong
business in Washington, practically
all members of the District Bankers
Association.
Mr.. Spaid advances the idea that
the Bankers Club. if organized and
housed in it's own building, would a,
once take precedence; that every
banker would be found on its register
| that every investment banker would
| be anxious to join, that every bond
! salesman in Washington would be
| quick to meet the membership regu-
lations. Bank directors would also
be eligible.
| Some of the committee members
were not inclined to approve of this
| view, but on the urge of Mr.. LarneI
! that it was the duty of the bankers
| of today to look after the interests
| of the bankers of tomorrow, and tha,
| unless they, the senior bankers look
| ed after the interests of the young
| men and gave them an opportunity
to meet each other. to talk and think
| of banking and modern methods and
| helped them in the molding of char
| acter, Immediately agreed that q
club for the Junior bankers should
| pS Ia any AouSluS pldl
agreed upon.
| Mr.. Spaid contends that the plar
for a bankers club is sound finan.
| cially and could readily be financed
1t would be in every respect a first.
class club, properly housed in its
| own home, with, in his opinion, q
sufficient class of Office occupants
| ready and anxious to take space
practically all available.
The City Club rents sufficient store
space to carry it's building charges
the Racquet Club was made a sue.
cess overnight, and, with hundred.
! of senior and junior banking ant
other financial interests with prac
teal resources in the hundreds o.
| millions, bankers club should bt
! brought into being in short order.
| The junior bankers would graduate
to the senior club as they advanced il
their chosen profession. and the senior
club would have a. steady growth
from year to year.
| Association with any of the other
clubs of the city loses the individu.
| ality of the banking fraternity.
] The Bankers Association has done
much to do away with the petty jeal.
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