| Show THE BANKERS MEETING Sobjjcts Discussed by Manipulators ot Finances 11010 Imicery Maslen Beau nl CnntlllI 11110 sead 11sullonal finish DLTIIOIT Aug 10I1rd driving orkchsracterilJl the last days metal met-al C n ot tb American Bankers 0001 after The question What legislation la I eeded In respect to the cuironc wan tllecuB d In an Interesting papery paper-y W B VanBlyke president of the Firet National llaoKot Mlllaou Wll Tb opkor tllugbl reforms 10 be bermanent oboulll be gradual rather than radical and In this dlieatlou ho tiifgeated an the nret Important step n currency reform by evolution tbe re tlreuieut of the troublesome greenback and treasury uolee a tluatlug dbl and the practical business method funding Ibis debt Int3 Ureo tier cent govern Mont bonds 10 dODomlllUen from fifty to tuousmla or dollars area < Such three per cent Inudi II payable Ian yje r 11eald anr3ljke and ItruUkuuable before would lake Up the preseut bonJu as they mature and IIIIY permltllllg bunts tD Issue their clrculotleg noted UpOIl the pot I such Ltite pr ditin t bODdlle I the me pn portion only the goverumentn clr culallut noted might ue redeemed and then lurcver retired It Would keep the volume ol all the currency undlr turned by tile gradual decrease 01 oe I1688 anti ompenlolt Increase DI ihe other until finally doing away with the goverumintM banking bust De a aDd placli it with the banks where II IcKlllmatBly bBloUKS divlugJ Banks Was tile title ol aPp a-Pp r < ad hI Myron T lierrlck ol Cleveland JIHlUICIv ON 8ATINOJ HANI < b The subject cl Mr Myron Merrlck ol Cleveland wag Btviuii Banks Ue said In par There to no PPDI necessity for furtlatrargulog economic questidisai they relate to savings UIUBI for the startling facts connected With their present I history tell the whole Story A year ago bu five DJlJlloll 01 deporl lure were jug entering tile llnanol bcoool for tug purpose ot making I serious study Dr bo ecouwlo qued lions so for at least as illcou questions Ueo ed their mere thin OJOOOO uf depositors They irMiluated tram that eclmol Nov 3 Jolla and their verdict reflects occur and credit eo too nations on their lutellleent decision rested the national good name Anti with the tact before them that their enIDI and savings depot lId 10 less I than 1000 banks a UIO greater than nur national debt 1 words tllreleud wilts a doprolIID 01 one halt Los cooluloD reached by them cODld not bn too other thou for a ouuud stable currency flll boeevlal mollve Prompting the of tabllbmol 01 savings bonito In ilia early part 01 the cuuntry dovetail wul resulting lu creating line of the most Powerful 6ttutbJO or money lowers lu the wolU for lu only 077 mutual aavlnga banks there are nearly 1700000 Wbllethll vast accumu titled In I owned by more than 8 000 OJO people a pot cap to 01 the entire lopulatlou exceeding 30 It la I controlled con-trolled by competitive fen men and till I a remarkable fact that In all the years ail they have not been accused of abuilng the power represented in Im 00 too contrary It 1 II uelver dally JmtuoJ they nave oe exal Clears the power justly and ever benevolently President oWitirday has well said thit tbeflniuclal I Bonny of this government U I 01 too Taut importance im-portance is I entirely too mooted lo be the football of party politics Ine people dWIDd a currency so adfuatMi that whether It be ol gold silver or cater II will b > acceptable to all clanitr inalutalned on a par with KOld at home and abroad It may be said with r itect to III lavlnc bank depoilta that tbe United dtatta stands alone European coun Idea when oontrMtei with It make avery a-very Indifferent allowing It teemi to ma that an argument for covernment arsuniptlon 01 the pedplePo money mutt be passed bll the plan that the IDveomlot could sedulity the moooy In I carrying > permanent debt does Great Britain cod other oiuuttlet But the dbL ol our country la not permanent In its nature and In pros limes II bas been rapidly Krous lldl al U loaded I am confident that 1 In the future as In the pilot the people will view with mlsilvlng any movement In that direction Besides this scheme la not consistent with the spirit of cur form of government With LBtloni abroad the tendeicy and polio la I to tnakn Ibo people lubeervl entto the government Our theory looks to making the government sub lervlenl the people The 938 saving Leeks together with the trust companies com-panies and like institutions practically OWl all themuulolpal and ante debt ndltlbl with Individual holdings aome nine lentbi ol the national debt They also carry the real estate loans and la large part probably one bait the tallroad debt ol the ccunlry Are not these unmlalakiblo signs tolnllng 1 in the fact that the Uulted States IB entering upon a new era of prosperity and that It Is Dots to become a creditor nursed I ol a debtor better I DJ not the growing bank balances at this time and the tact that cur finance institution are enabled proc Mostly 10 absorb meat of our enter p0se indicate this A 1 is I largely a qullon cl rate off Interest Whoo 11 dealt become a oretiltor olIolln tire years II may be or 11 my In twenty Ilse years Twenty years II bull day ID the life 01 a nation 11 the hard tlmca through bloll we bn passed mince tile melOortlll year of Ib93 boa so little atTicted the condition of savings banks dpoUUlld batik a doplIe and hat tallt 10 lesson Ihe conOdoc 01 out Sepia I In Ibe word and stability of these Ibatltutloni the future leenK Indeed In-deed bright Ilaivey J liolllster president of the Grand liapldi Blearing house spoke on Organized capital lie prlvl legal I and autism Bradford I Ithodia of Mamaroneck N Y dliceiied the question Ar clearing houses for country checks practicallfo lie said Country chccki are such important lacior In etlaotlng the excbangei of the country toot any attempt materially to reduce their nutrater or to eliminate IbeDl alI gelnr will notsucoeeti11 Mr Itoodestubmltted exhaustive plan accompanied ny diagrams showing show-ing his proposed melhoj of faollltat Inn I the collection of country checks it U Gently Jordan president ot the Third National bank of Columbus Ua gAO addreis on the auueu Uow would national tanks with u capital ol less thin f5ll UOO be ot bcue fit lo I the caunlr1 Would branoi banks Le beneficial cr tile reverieVs wo Ieud hy Willialu O Cornwall president 01 Oily bank lullo N Y |
