Show THE THE INDIVIDUAL AND HIS BANK BANKi i n By ROME C. C STEPHENSON President A Ban Bankers Association ANKERS recognize that their business bus busi- 1 ness Hess carries especially heavy public public pub pub- lic He responsibilities and welcome all sound Bound measures to aid them meet the I duties this Im I poses Unceasing efforts to bring x about continually o Improving methods methods meth meth- I s rk 4 to safeguard d depositors 0 p 0 Bit 0 r s In banks of or all kinds Aar have long been uppermost up up- r T In tho the plans of bankers bankers' o r g a n i z a throughout II It C C. STEPHENSON tho the nation They are not nol the outgrowth merely of ot the past year of or business adversity but bul have been carried on actively for tor many years rears and havo have resulted In great progress progress ress along lines of better betler safer bankIng bankIng banking bank- bank Ing methods Although banking along with all business has suffered reverses reverses conditions in this field have been far farIO farlo IO lo losi T I severe than they the would have been h had HI not nol bankers banker been widely successful success success- ful In their endeavors to develop the high bight standards of banking that now generally prevail The American Bankers Association and bankers bankers' organizations in every state actively support the principle principIa of or government supervision of banking The Tho national banks which receive their charters to do business from the tho j I federal government are under tho the su su- supervision of tho the Comptroller of the Currency at Washington Through his efficient staffs of expert bank examiners in every section ho lie has tho the duty and powers to keep watch of ot the tho way every overy national bank Is being conducted to suggest desirable changes In Its polli poll poll- i cles dies or methods and even to step In inand and take control for the protection of ot the tho depositors if such action is war war- ranted Tho The stats state banks s. s also which are chartered by tho various state governments governments governments gov gov- are subject to similar supervision supervision supervision su su- su- su and control by state bank officials In addition banks In many places place have havo long Jong maintained voluntary 1 clearing house associations which en- en 1 1 even closer supervision over their j I members I I 1 Bankers Favor Public Supervision Present laws adequately enforced contain ample provisions for government govern- govern j ment supervision Bankers universally f sally believe In strong capable banking I departments manned by officials with tho the discretion and courage to enforce j these laws Jaws and act acl un under er them as the tho common welfare deman demands s. s They be- be lovo that thal these public officials should I bo lie paid sufficient salaries to command I j the time services of men of character ability and a resolute spirit of public service I They b believe lIeve also that tho time banking departments de de- should be kept free from all p political or o other oilier ber special Influence In fu order to be bo able ablo to act at all times I with single-minded single In independence solely for the b benefit of time the public interest Although b bIt il banks hanl s In the United States 11 It d fn t t ti onal 1 I orera ViO ng Lin e r s a o or ui na l charters char char- are thus subject to supervision of ot public authority they are aro strictly private private vate business enterprises The They are owned by their stockholders and administered administered ad ad- ministered by officials chosen through the boards of directors which their stockholders elect No bank Is owned or operated by tho the United States Government Government Government Gov Gov- nor with ith one small exception in a a. western state by any state gov gov- The function of or government In banking Is to promote and enforce careful banking administration through tho the system of examination and SUI supervision supervision super super- er- er vision which I have havo described This however does doss not nol relieve the Individual al depositor from the necessity of ot judging and choosing carefully as to his banking relations just as In his other business or professional rela rela- He lie must inquire for Cor himself Into the character and type of ot Institution and men he ho shall do business with satisfying himself as to their reputation reputation tion reliability and capability These qualities are aro essential to lo complete the element of safety and dependability In any human institution |