The Birmingham age-herald., 1921-10-06
BANKERS OPPOSE BRANCH BANKING
 AT CONVENTION
Worst of Credit Stringency Over and Country Has Borne Period of Stress
 Remarkably Well
By Associated Press

Los Angeles, Cal, october 5.-- Money was the root of all questions here today in the second session of the American Bankers association forty seventh annual convention. One question with a promise of making itself one of the big themes of the meeting was revealed in alignment of forces for and against business extension through branch banks, es- pecially by national banks, as sug- gested in proposed law reported to be fostered by national banks.
 Discussion ended in the adoption of motion placing the division on record as absolutely opposed to af ach btsfsks-se' SVitli ste Eadfr- standing that they would be taken before tle general session tomorrow.
 Comptroller of the Currency Cris- singer today told the bankers that profiteering banks must beware for the government is watching them and will not hesitate to charter new national banks within their terri tory.
 From the financial standpoint, the
  eral session of the convention was the report of the economic policy commission. It recorded that the worst financial stringency was over and natural recuperatiye forces were working for recovery.
 Tomorrow the bankers will elect new officers. Thomas E. McAdams. of Richmond, Va, will be selected president and John II. Puelicher of Milwaukee first vice president in the regular course of progressive elec- ton to office
 Worst k over.
 The worst of the credit stringency seems to be over and 1t appears that the country has borne the period of stress remarkably well. 1t was re- ported to the American Bankers as- sociation convention here today by it's economic policy commission of which Paul NJ Warburg of New York is chairman
 Natural recuperative forces are now making for recovery" the report said. and there is every reason to believe that when wages have been readjusted and normal business is re-established between industries and between nations, our country will
  ity and advancement.
 The commission points to the dam gerous attempts which are made so frequently at present to undertake to cure all existing economic evils by legislative action. The colnmis- sion feels strongly that most of our troubles will be eradicated more quickly and cured more thoroughly if economic laws are allowed free play.
 Amendments Undersfrable
 'The commission regards especially many of the amendments proposed to the federal reserve act as undesir- able and calculated to lessen the ben effts to be derived from the federal reserve system. The commission be- lieyes that so long as the federal re- serve system is able to continue it's work as successfully as it has begun 1t, 1t should be left to function With the least possible interference"
 Public opinion will do more than either railroad men or bankers can do to bring about that tNmprovement in conditions which is the need of the time, William Sproule, president of the Southern Pacific company, told the bankers association. "The public needs to understand the bank ing business better than it does. he said Hence the banks have gone into the business of publicity Tho people need to understand the rail- roads better than they do, and we need the help of the bankers to put the case of the railroads before the people as something important to every financial institution