Show BANKING EVOLUTION by R S HECHT president american bankers association B A at one time was a private aj business but more recently has de into a prof profession assion a semi pub lie tic profession protes slon this change has not come suddenly but la is the result of an evolutionary proc ess banking has grown and changed with the growth and change ot of our coun try the banker who has survived the trials trial s and eions ot of the past few years has R s HECHT proven himself a man ol 01 courage and ability and we may well expect him to meet the problems that lie before him with resolution and sound judgment changes ot of momentous importance have occurred in our economic tures and bankers have had a difficult road to travel some will argue that all ot of these changes were evolutionary and inevitable while others look upon many of them as revolutionary and sary it Is extremely difficult to trace with any degree ot of accuracy the real causes for many ot of our troubles and it Is not always easy in judging these de to distinguish properly be tween ause and effect unfortunately it has become the fash ion ton to blame on cur banking system all the troubles which the depression has brought As a consequence we hear much of needed reform of banking by law no one will deny that certain de facts have developed in our existing banking laws which need correction and that certain abuses were corn com emitted which no one wishes to defend or have remain possible in the future never before were bankers more determined ter mined than they are today to bring about whatever changes in our banking system are called tor for by the public wel tare fare the best results can and will be ac complis hed by normal processes and gradual adjustments of our present vate banking structure suitably super by proper authority rather than by the passage of still more drastic laws offering ott ering panaceas in the form of more government owned or govern ment controlled financial organizations the basis of good laws lasting laws relating to any phase of human need are formed and modelled modeller model led in the rough school of practical human experience and are usually the result of sound evolutionary processes rather than ot of sudden impulses to change tun fun da mental principles it if we analyze the new banking pic ture which has developed during the past eighteen months we cannot help but arrive at the conclusion that evolutionary lutio nary changes which aich have taken place in banking and the economic life of the nation of which it is a part have justified much of the banking legisla tion recently passed As we look ahead and consider the new problems which are facing us we must inevitably come to the conclusion that some further changes in our banking laws will be come necessary it Is not enough that bankers merely acquiesce in banking imposed by law zeal tor for evolutionary banking reform must be more aggressive than that bacling bani ing practice itself without corn com of law can and should reflect the changes and lessons of the times and d through which the na tion has passed and even to a greater extent than law render banking more truly a good public servant by volun tary self reform in no airall sir all measure is this accomplished by the better training of the members of the bank ing fraternity and by instilling con scantly higher ideals in those who are ultimately responsible for bank man argement As we march on into the world of tomorrow the banker has a greater opportunity port unity for usefulness than ever be fore and I 1 hope that the service he will render to society will be so sor constien cons con clen bious so constructive and so satis fac tory as to merit general approval and assure him his logical high place and leadership |