The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-28
WEST VIRGINIA BANKERS AssoCI-
ALTON PRESIDENT GIVES AN
rUAr, ADDRESS AT WHITE
SULPHUR
DECLARES COUNTRY IS MAKING
CERTAIN, STEADY PHoaR1ss
TOWARD NoRMhLCY IN
IT'S BUSINESS
SAYS WEST Virginia BAN"RS
PAY TOO HIGH TAX IN PRO
PORTION TO CAPITAL
INVESTED
WOULD INSIST THAT ARMED HOLD
UP BE MADE AN OFFENSE
PUNISHABLE BY Exc
CUTON


West Virginia Bankers association.
President Edward Nelly OF rarNersHUrs'
a. the head os the state organization. :"
his annual address recalled that the
pas, wear has been period OF ever
changing conditions" during which
many perplexIns problems have doomed
I'm in business horizons and the patience
and courage or the men O. business ana
finance have been taxed % the Nm'''
hut tbs IS water that has passed over
tha dam The hlaHNe: or de1reSS'"H
formerly Cover.ng general business
seams 10 have been removed ev some
u,Erown power and. everywhere. or
um,sn - more visible. We nave
periods revival and prosperity follow
Ing ore another with astonishing regu-
lar!tv. So far as pree""t conditions go.
me outlook ia FOR better business m
1922 than We had IN l?2l. but this does
not necessarily mean boom times or
even an Immediate return - what IL
ordinarily called prosperity. hut we arc
making progress toward n"rma'cS.
The gradual revival or confidence
throuEhout the nation IL due. IN LarEe
part, 20 the upward swing n me PT'ce
Of AGRICULTURAL products. Ny own con-
viction "a that we are now entering
perlod ot rsvlv'ug activities. Increased
earnings ror Industrial companies ana
rhe return ~ normal employment. Tn
employrnent would show an active de-
crease X x were not for tho tact tAat
many workers have been led I" strike
rather than accept wage reductions
One OF the pr'clpal hardsh'ps that mGst
he overcome before n higher state OF
prosperity can be reached. e that We
must rorego tho old-;tme pride TO work.
Eyeryone-employs and emp.oyer-he-
No yrNa n
stead o. how much work they can DO
An mus, realize that the war period OF
false prosperity. or easy money. IS over.
To get something for nothing 10 bad
principle on which 10 attempt 10
thrive"
Evil Of Extravaganza
Concerning present conditions. Pres!-
den. Nelly said: One OF the greatest
evils resulting from the world war -
the ex;ravagant IDEAS which have been
created IN the minds OF the American
reople. Inflated CURRENCY tuN employ
ment and wages heretofore undreamed
~ stared the American people on a Joy
ride .. extravaSance from which they
pre- exceedingly loath 20 turn. even
though confronted with the stern fact
that tie continuation means hankruptcT.
This imposes upon the bankers OF
America the necessity ~ teaching
thrift and economy among our people
on every occasion: % making proper
distribution and investment 81 their
savings. ror the success OF the indl-
vidual means the prosperity os the COM
mun,tv and the welfare Of the state
and nation
Turning 70 the immediate future.
rres:dea. Nelly said: There are many
problems facing us which Will serve 70
make the coming year one which Will
require the close attention OF all. ror
never before has there been such need,
~. sane and calm thinking as there Is
now. Each problem can be solved " we
do some straight thinking and talking
Al the proper time. and. IN this. each
banker must make his influence tet
In his own community. II those who
hold responsible positions extend their
Influence along conservative lines. with
out going to the eXtrerre OF reaction,
the result Will he sure and the country
will enter upon period Of great pros
pertty TO which II IS destined"
Bank Taxes Too High.
Turning TO a subject OF more espe-
cIal interest 20 banking Itself. Presi-
dent Kelly said: Reports from bankers
representing ever so states d'scloscs
the fact that the taxes levied on banks
in West Virginia are among the highest
In the | nlteQ states. eUl "LI''HS
70 make this statement with out fear
Of contradiction. that bankers IN this
state are willing 70 pay a tasr and
equal portion OF taxes. rather than
avoid taxation. but why should bankers
be required to pay larger proper
ton OF taxes than other invested cap
ltal? The fact IS not generally known
10 tho public that no property IN the
state Is taxed for ia full value except
banking capital This may be due 20
tho fact thar the average legislature
has no idea that the banks have a way
~ creating large profits IN some mys-
terIous manner. Bankers would not
have Just cause for complaint e all
r-operty was assessed at rs true and
actual value es required BY law.
Another subject touched on was IN
vestments. as follows Perhaps no act
passed by our legislature during re-
cent years has proven its worth more
than the Blue Sky Law, but the law
sr,ui6 either be made more drastic or
should be moro rigidly enforced, 50 as
10 lessen the wonderful harvest which
the promoter and dealer Of shady
classes OF stock have heen permitted 10
reap As bankers. It is our duty 70
further protect the people from on
trusting their savings 70 such con-
Germs whose allur.HE advertisements
promise large returns. and pointing 70
the easy road ~ wealth are only In
tended u separate 'he victim from his
money Tho banker q not inralNble.
but a, least he can IN many cases
rre--nt .nc loss OF money in Wild cat
schemes
Death For Hold-up Men.
~