Evening star., 1926-06-17

floor space was obtained for the bank
ers and for Washington Chapter.
American Institute of Banking. After
noting what he termed remarkable
progress in expanding the courses Of
?ered by the institute he went on to
review the work of the educational
foundation. adding that Washington
bankers had given many addresses
in the public high schools during the
year in order to give the proper view
point to students who are planning
to enter business.
Benefit of National Park.
washington is undoubtedly to be
materially benefited in years to come
by the establishment of the Shenan
doah National Park, which has been
voted by Congress this year, and
which has been made possible by the
business interests and citizens of the
District of Columbia and in several
States by voluntary contributions to
purchase the acreage to be donated
for this park. Those Of us who have
enjoyed the national parks in the
West are perhaps in better position
to realize what this park will mean to
our city. for in reality we shall be
the meek through which the greater
number Of visitors will pass. Un-
doubtedly the park will bring many
conventions to Washington. proving
an added attraction for entertainment
features, inasmuch as we shall. when
the park is completed, be within three
hours ride from it's base"
In conclusion President Addison re-
felred to the amazing growth OF
Washington during his 20 years in &C.
tive banking. I'VE have developed
until we are stretching out and max
ing. in reality. large portions of Vir-
ginia and Maryland a part of our
population
THE bank clearings in 1905 were
$3.50, 100000. Last year they were
81 353. 900. 900. This phenomenal in
crease, along with the growth In popu
lation and the present policy of Con
gress to appropriate millions of dollars
for new buildings, makes me very op-
timistic about the future of Washing
ton"
Mr. Thorpe was given rousing
greeting. Since he is a resident of
Washington he spoke to many of the
bankers as personal friends. He de-
voted his address especially to dis
cusssion Of the broad business field
which banker must cover. saying, in
part:
Bankers knowledge Broad.
The thing l wish to speak about
upon the banker for business infor
nation. Twenty years ago we re-
garded the banker as the source of
all economic knowledge. If that
were true, then what a postgraduate
institution he must be today, with
tremendous complexities of modern
business made more and more COM
plex by the modern idea of asking
Government--State, Federal and mu-
nicipal-to take a hand in the regula-
ton of economic law. The bankers
clientele includes the butcher, the
baker. the candlestick maker. He
counsels. as well, the lumber dealer.
the retail dry goods merchant and the
versal field of knowledge his must
include.
"A lumber dealer calls on him. He
has troubles-not necessarily finan-
cial troubles, but problems in dfstri-
button, collections. selling, labor. The
banker must know the new economic
tendencies which are affecting lum-
Der as they are affecting shoes, and
pork chops. and hair nets. He must
Know or the new competition, for eX-
ample, which faces the lumber busi-
ness man today.
"A few years ago the lumber
mans competitor was the retailer or
wholesaler OF the same street, but it
is wise man today who knows his
competitor. The lumber mans most
active competitor today is not the
other lumber man across the street.
but 81 kinds of wood substitutes
brick, stone. Portland cement, tile.
slate. treated wood shingles, asphalt
composition, asbestos, copper, zinc.
The banker may be the first to tell
him that associations of wood sub
stitutes are spending $50, 900 this
year to get the lumber mans share
of the consumers dollar!
F.. Effect of Legislation.
This situation. and thousands of
similar ones. applies to the normal
ebb and flow of economic ideas. But
those of us in Washington appreciate
economic currents that are turned
aside from their natural course be.
cause Of legislation. There Is hardly
a phase Of commerce or industry
which is not touched at some point
or other by Government regulation.