Show SEES HEAVY CLAIMS ON FUTURE BANKERS american bankers association official declares that banking changes creating large banki bank systems will call for broader social viewpoints larger scale gro group up or branch tanking banking will inevitably bring a new era ot of banking organization and operations to to the united states and bankers will have to develop new conceptions new administrative methods and new economic views rudolt rudolf S hecht chairman ot the economic policy commission ot of the american bankers association recently told the members of 0 the r american america institute ot of banking the institute Is the educational section ol of the association and ile he om emphasized tha 1 the point t that hat the tha new er era in hanking banking demanded that we must up our education 8 so that banking shall be fortified tor for new ne vr responsibilities whitt what the future calls for we must broaden our social conception ot of banking mr hecht said not only tor for the technical operations ot of the new bankin emust must we fit alt ourselves but both as individuals and an organized profession we must chargo charge ourselves with serious consideration ot of the social problems t that hat are involved already we hear murmur murmurings ings and tears fears and doubts as to whether the changes that are coming about in banking in the extension ot of group and branch systems do no not t constitute the looming of a new financial menace a monopolistic threat not only to the tha individual unit banker but to the financial liberty ot of society in general I 1 am stating these things merely as facts acts that must be taken into consideration in our studies public opinion cannot bo be ignored by any business least ot of all by hank bank I 1 ing which Is 18 admittedly semi semipublic public in character and la Is therefore subject to special supervision by the constituted t authorities it banking develops tendencies that give rise to public tears fears we must so conduct ourselves as to reassure nil all doubts for this Is true that business succeeds only by serving society that no business can permanently prosper which does not both render service to the public and at the same time convince the public that it la IS tendering rendering that service banking therefore must take cognizance ot of what the public to la saying baying ot of this new era in its development it must be part of the technique ot of modern banking administration whatever form our enlarged ged institutions I 1 take to avoid the creation of monopolies or even the appearance of 01 such a centralization ot of financial power PO as to be able to exercise an undue d no influence over public or private finance or other lines ot of business the pu biles right to the safeguards ot of fair competition must be observed must preserve individual initiative it must also be an item of management that individual initiative and opportunity 0 shall be maintained if america has outstripped other nations in the distribution of the benefits of its progress it Is due to the fact that there axe are no barriers of social caste or business tradition against advancement tor for character ability and initiative american business has learned that it serves itself best dy by encouraging by every practical means indi individual vla ambition and initiative and hurts itself most by repressing or neglecting them competition tor for efficiency both within an organic organization aaion and between organizations will prevent any institution from long enduring in which maintenance of 0 opportunity and recognition ot of initiative are not controlling principles of management As heads 0 of the greatest of our financial and industrial du institutions stand men who started from the humblest of beginnings through all the grades of executive authority and reward stand men in positions in keeping generally speaking with their individual merits I 1 personally see no reason tor for tearing fearing that the enlarged banking organizations which the future may hold would necessarily supply future lank bank employees with any less opportunity tor for achievement than unit banking again a major consideration of 0 administration in any multiple form of banking organization must be its public relations ln in every community it touches its iti foremost consideration must be actually and visibly to serve the economic up building of that community no system will be longton aerated whose local members work or are suspected as working to draw economic strength from one place placa to enlarge tho the fin anical power ot of another the local unit hank bank has always been part and parcel of 01 the communities where it lives and no system can last which does not make it a major principle ot of operating technique to serve and not exploit the communities into whose business lives it enters |