The Birmingham age-herald., 1922-10-04
DELEGATES FAVOR ABANDONMENT OF
 ISOLATION POLICY
Bankers Convention Would Even Consider Cancellation of Foreign Dehts-La-
 mont Speaks
By Associated Press

New York, October 3.-An over- whelming sentiment favoring Ameri- ea's abandonment of her policy of iso- iation from European affairs and substitution of q policy which might even involve partial cancellation Of the allied war debt today swept through the convention of the Ameri- can Bankers association.
 The subject was broached by Thom- as w. Lamont, associate of J. r.. Morgan, whose pleas in behalf of American "unselfishness" turned the convention into an uproar as the 1O,- 900 delegates representing 23,000 banks in the United States voiced their approval.
 The movement gained momentum when Mir Lamont plea was echoed by Thomas B. McAdams, president of the bankers national organization; Myron T. Herrick, United States ann bassador to France, and other na~ tionally known figures.
 Financial leaders who asserted that until recently the question of debt cancellation has brought only pro- tests from small and large bankers expressed surprise at the changed at titude evidenced. A year ago, they pointed out similar proposal was emphatlcally turned down by the as sociation.
 Formal action on the question of European debts to this government, or the formulation of definite pro gram of new loans and trade con tracts is not expected of this con vention. however. Leaders declare they are satisfied with the evidence that bankers are amenabie to Amer ieas more active participation in for eign financial stabilization and will depend on the early development of public opinion which will justify the administration in making overtures to the foreign nations concerning the possibility of basis for readjusted settlement,
 .Braneh Bankv Issue Up.
 Having defined it's attitude on for eign affairs, the convection tonight prepared to tackle an issue, which, according To leaders, promises to dominate remaining sessions. This is the question of branch banks" fer cibly brought into the controversy by bodies of "independents'' representing four midwestern state bankers orr ganizations who have brought to q head their opposition to the further increase of such institutions, on the ground that they tend to centrslige i capital and economic power.
 The importande of the issue today caused President McAdams to upset the schedule of the convention so thar resolution adopted by the anti- branch men may be put to vote to- niorrow. This resolution follows:
 "ResGlved, by the American Bank CTS association that we view with lsalarm the establishment of the branch banking in the United States and the attempt to legalize branch banking, ,. that we hereby express our disap- proval Of and opposition to branch banking in any form in our nation. "ResGlyed that we regard branch banking or the establishment of ad- ditional offices by banks as detri- mental to the best interests of the people of the United States. Branch banking Is contrary to public policy and violates the basic principle of our government. as 1t concentrates the credits of the nation and the power of money into the hands of few.'