Show BANKING EVOLUTION by R S HECHT president dext american bankers at one time was a private BANKING business but more recently has bai developed into a profession a semi pub lie profession this change has not come suddenly but Is the he result of an evolutionary process banking has grown and changed chanced i with the growth and change of our coun try the banker who has S survived tho the trials arlala and tribulations of the p past a ss few years Y has h a it S proven himself a man of courage and ability and we may well expect him to meet the problems that lie before him with resolution and sound judgment changes of momentous importance have occurred in our economic structures and bankers have had bad a difficult road to travel some will argue that all of these changes were evolutionary and inevitable while others look upon many of 0 them as revolutionary and unnecessary tt it Is extremely elt remely difficult to trace i with any degree of accuracy the real causes for many of our troubles and it As Is not always easy in judging these developments to distinguish properly between jause ause and effect unfortunately it has become the fashion to blame on our banking system all the troubles which the tha depression hasp haa brought As a consequence we hear bear much of needed reform of banking by law no one will deny that certain detects defects have developed in our existing banking laws which need correction and that certain abuses were committed 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 welfare the best results can and will be accomplished complis hed by normal proc processes esres and gradual adjustments of our present private i banking structure suitably supervised r by proper authority rather thin than by the passage 0 of still more drastic laws offering ott ering panaceas in the torm form of more govern government in ent owned or govern ment controlled financial organizations the basis of good laws law lasting laws relating to any phase ot of human need are formed and modelled modeller model led in the rough school of practical human experience and are usually the result ot of sound evolutionary processes rather than ot of sudden impulses to change fundamental da principles it if we analyze the new banking picture which has developed during the past eighteen months we cannot help but arrive at the conclusion that evolutionary lutio nary changes which have taken place in banking and the economic life ot of the nation ot of which it is a part have justified much of the banking legislation recently passed As we took look ahead and consider the new problems which are facing us we must inevitably come coma to the conclusion that some further changes in our banking laws will become 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 banking practice itself itsek without compulsion of law can and should reflect the changes and lessons of the times and difficulties through which the nation has passed and even to a greaten grea teri extent than law render banking more truly a good public servant by voluntary self reform tn in no small measure Is this accomplished by the better training of the members of the banking fraternity and by instilling constantly higher ideals in those who are ultimately responsible tor for bank management As we march on into the world of tomorrow the banker has a greater opportunity port unity tor for usefulness than ever before and I 1 hope that the service he will render to society will be so conscientious so constructive and so satisfactory as to merit general approval and assure him hla his logical high place and leadership |