| Show SEES HEAVY CLAIMS ON FUTURE BANKERS Amer american jk loan bankers association official declares that banking changes creating large bank systems will call for broader social viewpoints larger scale group or branch banking will inevitably bring a now new era ot of banking organization and operations to the united states and bankers ban kerswill will have to develop now new conceptions now new administrative methods and now new economic views rudolf S flecht chairman ot of tho the economic policy commission I 1 ot of the american dankers bankers alsoc assoc association ia t recently told the members ot of tho the american institute ot of the institute 11 Is tho the educational section of 0 the association and he c emphasized pha the point that the now new era in banking demanded that we must step up mp our education so that banking shall be fortified tor for new responsibilities what the future calls for wo we must broaden our social conception ot of banking mr hecht said eald not on only or the technical operations ot of the n new ly ban banking must we fit ourselves but both as individuals and an organized profession easlon wo we must charge ourselves with serious consideration ot of tho the social problems that aro are involved already read y wo we hear bear murmur murmurings ings and tears fears and doubts as to whether th tho 0 hanges changes t that at are coming about in b banking an king in the he t extension ot of group and branch systems do not constitute the looming of a now new financial menace a monopolistic isaid throat threat not only to tho the individual unit banker but to the tha financial liberty ot of society in general I 1 am stating these things morely merely as facts that must bo be taken into consideration in our studies public opinion cannot bo be ignored by any business least ot of all by banking which Is admittedly semipublic semi public in character and Is therefore there toro subject to special supervision by the constituted authorities it if banking develops tendencies clos that give rise to public leara fears wo must so conduct ourselves as to reassure all doubts for this Is true that business busi noea succeeds only by serving society that no business can permanently prosper which does not both tedder service to tho the public and at the tha same time convince the public that it Is tendering rendering that seT service VICO Dan banking king therefore must take taka cognizance of what the public Is saying baying ot of this new era in its development it must be part of the tha technique of modern banking administration whatever form our enlarged institutions take to avoid tho the creation of monopolies or oven even the appearance appe aranco of such a centralization of financial power as to bo be able to exercise an un duo influence over public or private finance or other lines of business the publics right to the safeguards ot of fair competition must bo be observed must preserve individual initiative it must also bo be an itom item ot of management 8 that individual initiative and opportunity shall bo be maintained it america has outstripped other nations 1 in the distri distribution butin ot of the benefits ot of its progress it Is flue due to the fact that there are no barriers ot of social caste or business tradition against advancement tor for character ability and initiative american business has learned that it serves itself best oy by encouraging by every practical means individual ambition and initiative and hurts itself most by repressing or neglecting them competition for efficiency both within an organization and between organizations organization will prevent any institution from long enduring in which maintenance ot of opportunity and recognition of initiative are not controlling principles of management As heads of the greatest ot of our financial and industrial du institutions stand men who started from tho humblest ot of beginnings through all tho the grades ot of ex authority and reward stand men in positions in keeping generally speaking with their individual merits I 1 personally see no reason for tearing that tho the enlarged banking organizations which tho the future may hold bold would necessarily supply future b bank k employees with any less opportunity for achievement than unit banking again a major consideration ot of administration in any multiple form of banking organization must bo be its public relations in every community it touches its foremost consideration must be actually and visibly to serve the economic up building of that community no sy system stern will be long tolerated whose local members work or a aro re suspected as working to draw economic strength from one ona place to enlarge the fin anical power of another the local unit bank has always been part and parcel ot of the tha communities dhera it lives and no system can last which does not make it a major principle of operating technique to servo serve and not exploit the communities into whose business busl lives it enters |
