Show THE INDIVIDUAL AND HIS BANK By Dy RO ROME IE C. C STEPHENSON President A met ican can Bankers Jankers ii Association BANKERS BANKERS recognize that their business carries especially heavy public responsibilities and welcome all sound measures meas meas- ures urea to aid them meet the a f duties this Im Im- m Y poses Unceasing ing efforts effort to LW t bring a about b out continually Improving imi Im im- i proving methods methods meth meth- ads to safeguard safe saCe- gu guard a r d depositors tors torn In lu banks of all aU kinds have long been R. R C C. uppermost inthe inthe in lu luthe the plans of bankers' bankers organizations throughout the tho nation They are not the outgrowth outgrowth outgrowth out out- growth merely of the past year of ot business adversity but have been c carried on actively for many years and have resulted in great progress along lines Hues of better safer banking methods Although banking along with all business has suffered reverses reverses re reo re- re verses conditions in this field have been far tar less severe than they wo would ld have been had not nol the bankers bankers bankers bank bank- ers been widely successful In their endeavors to develop the high standards that now prevail The American Bankers Association tion and bankers' bankers organizations In every state actively support the I principle of government supervision of at banking The national banks which receive their charters to do business from the federal government government govern govern- ment mont are under the supervision super of or orthe the Comptroller of the Currency at Washington Through his efficient staffs statts of at expert bank examiners in every section he has the duty and powers to keep watch of ot the way every national bank is being conducted conducted conducted con con- ducted to suggest desirable changes In its Hs policies or methods and oven to step in and take control for the protection of the depositors If such action is warranted The banks also which are chartered by bythe bythe bythe the various state governments aro are subject to similar supervision and control by state bank officials Bankers Favor Public Supervision Present laws adequately enforced contain ample amvie provisions for government government government gov gov- supervision Bankers universally universally universally uni uni- believe in strong capable banking departments manned by officials with the discretion and courage to enforce these laws and act under them as the common welfare welfare wel wel- fare tare demands They believe that these public officials should be paid vaid sufficient salaries to command the services of at men of at character abilIty ability ability abil abil- ity and a resolute spirit of public service They believe belleve also that the banking departments should be kept free tree from all political or other othel special influence In is order to be beable beable be beable able to act at all times for the benefit benefit benefit bene bene- fit of ot the public interest Although banks in the United States operating under state or national national national na na- na- na charters are thus subject to supervision of public authority they are strictly private business enterprises They are owned by their stockholders and administered by officials chosen through the boards of ot directors which their stockholders elect No bank is owned or operated by the United States Government nor with one small exception in a western state by any state government The function function function tion of ot government in banking is to promote and enforce careful bankIng banking banking bank bank- ing administration through the system system tem tern of ot examination and supervision which I have described This however however however how how- ever does not relieve the individual depositor from the necessity of ot Judging and choosing care carefully tully as asto asto asto to his banking relations just as in his other business or professional relations He must inquire for for himself himself him him- self Into the character and type of institution and men he lie shall do business with satisfying himself as asto asto asto to their reputation reliability and capability These qualities are aro essential essential es es- es- es to complete the element of safety In any human Institution I |