Show THE individual AND HIS BANK by ROME C stephenson president Amer america scan bankers Ass association matson ANKERS recognize that their busl bess BANKERS 11 ness carrle carries especially heavy public r responsibilities and welcome all sound measures to aid them meet the duties this tin 4 poses unceasing efforts to bring about continually improving meth to safeguard depositors in banks of all kinds have long ben uppermost in the plans ot of bankers 0 r g a n I 1 z a eions throughout K R C r stephenson STEP HENSOM the nation they are not the outgrowth merely of the past year ot of business adversity but have been carried on actively tor for many years and have resulted in great resa ress along lines of better safer bank ing methods although banking along with all business busin ess has suffered reverses conditions in this field have been far ar less severe than they would have been had not bankers been widely success tul ful in their endeavors ende avora to develop the high standards ot of banking that now generally prevail the american bankers association and bankers organizations in every state actively support the principle ot of government supervision ot of banking the national banks which receive their charters artere ch to do business from the federal government are under the su perv pervasion islon ot of the comptroller ot of the currency at washington through hia his efficient staffs ot of expert bank examiners in every section he has the duty and powers to keep watch ot of the way every national bank Is being conducted to suggest desirable changes in its poll poli clea cles or methods and even to step in and take control tor for the protection ot of the depositors it if such action is war ranted the state banks also which are chartered by the various state governments ern ments are subject to similar su sa peryl slon siou and control by state bank officials in addition banks in many places have long maintained voluntary clearing house associations which en eti force even closer supervision over their members banker bankers favor public supervision present laws adequately enforced contain ample provisions tor for govern meat supervision bankers bully sally believe la 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 demands they be lleva that these public officials should be paid sufficient salaries to command the services ot of men of character ability and a resolute spirit of public service they believe also that the banking de part apartments ments should be kept free from all political or other special influence in order to be able to act at all times with single minded independence solely for the benefit of the public interest although banks in the united states operating under state or national char are thus subject to supervision ot of public authority they are strictly tate vate business enterprises they are owned by their stockholders and ad ministered by officials chosen through the boards of directors which their stockholders elect no ban bank k is owned or operated by the united states government ern ment nor with one small exception in a western state by any state gov ern ment the function of government in banking la is to promote and enforce careful banking administration through the system of examination and super vision which I 1 have described this however does not relieve the In dividu al depositor from the necessity ot of judging and choosing carefully as to his banking relations just as in his other business or professional rela tiong he must inquire for himself into the character and type ot of institution aad and men be he shall do business with satisfying himself ae as to their deputa tion reliability and capability these qualities are essential to complete the element of safety and dependability in any human institution |