Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-11
NEW BANKING ERA
SEEN BY L0NSDALE
Association Head Advises
Members to Plan for
Changed Conditions.
Special Dispatch to The star.


NEW YORK. August i1.--American
banking is on the threshold of q new
era wherein the daily routine of the
banking business is likely to be af-
fected by new laws. new circumstances
and perhaps q modified public opinion,
according to John G. Lonsdale, presi-
dent of the American Bankers Associa-
ton. In a statement issued yesterday
to members of the association through
the American Bankers Association
Journal, Mr.. Lonsdale urges all bankers
to participate in the convention to be
held in Cleveland, Ohio, from Septem-
Der 90 to october 2.
Declares Banking Sound.
This year, perhaps as never before"
Mr.. Lonsdale says, "the convention
fore has the banking business in the
United States been confronted by SIM
liar circumstances and conditions.
Banking is fundamentally sound.
The achievements of the business as
whole in the last decade have been in
comparable. 1t has been the ua1nspr1ng
in a season of unpa ralleled prosperity
and it has held firm, sound ana I'M
moved in the recent period OF STOCK
market defiation Lying before 1t are
greater opportunities for public service
than have ever before been possible In
banking. and 1t is our privilege and
our duty to develop these opportunities.
But notwithstanding all that, the ra-
pidity of modern business change, the
strength and daring OF business enter
prise, the tendency or large-scale oper-
ations. both within and without bank
ing, have brought IFS to the threshold
of a new era of banking wherein our
daily routine Is likely to be affected oy
new laws, new circumstances and per-
haps modified public opinion.
New Problems.
"There areGlegislative hearings and
investigations Of banking pending that
may lead we know not where. Earnest
men in officials and in private life are
couscientiously trying to find the right
of many questions, trying to md the
correct answers to strange and perplex-
ing problems. 1t is the duty OF all Oh
us in the profession to help so that
public opinion may be clear, and not
confused, that our business and all
business may pursue a course curing
the coming years that will retain the
prosperity our Nation possesses and
that will multiply that prosperity.
This new era should be better and
happier than its predecessor. My only
fear in connection with 1t is that we
NAV fail to think hard enough about
III,
mate of its possibilities; that we shall
not do our full part in marking out the
course of business ard of banking, but
shall leave it to other and less expert
enced hands.
THE expressions, deliberations and
findings of the coming convention
should exert a positive and beneficial
influence on banking thought in the
ensuing year, and even down through
the years. The general public will give
sharp attention 10 the proceedings OF
the association in convention.
Importance of Convention.
HE is. indeed. rare banker who. in
these days of deep-set and powerful
trends in banking, rapid changes in
business that create new conditions
with which banks must cope, changing
methods in manufacture and in ma
tional habits, needs not the counsel and
the advice of fellow bankers-who cam
not benefit from conference with his
fellows.
THE program is. being planned to
make the convention a place of oppor-
tunity, and of profit to the man who is
confronted with special as we'll as with
the general problems of the business
1t therefore behooves every bank execu-
tive who can to participate, both for
the good of banking as a whole and for
his own especial benefit"