| Show WHA WENT THROUGH by JOHN 11 american bankers banker association in inlets its long career has been B BANKING I 1 compelled ito w withstand many serious shocks but it ran into the most perplexing entanglement of its whole history since the general breakdown of values in 1929 1920 the commer c caal I 1 a I 1 structure of the entire world seemed to have been shaken from its foundations and the marvel Is that the banker with everything break la ing down all J 11 around him was able to come through as he ii has a s general business failures allures agricultural stagnation income losses caal capital losses inabilities to io meet debts and therefore inabilities of bankers to pay back depositors when loans were not paid were the reasons in most instances tor for the bank failures tal lurea no profession no department of life 1 Is without its 16 weaker elements but had proper consideration been given to the relatively few instances in banking had exaggerated and startling headlines headline 3 been kept in true proportion had banking not been used as a target tor for political self seeking and with vote seeking g motives had unfounded rumors not been spread the peoples confidence might have been retained and financial losses for many bank failures were caused that need not have h happened ap there were factors in our banking experience which every earnest banker deplores factors which many had worked years to eliminate which it was tearfully fearfully recognized would aggravate any difficult days day a which might arise one of the worst of these thesa was due to political regulation which chartered many banks that should never have been chartered that there have been incompetence and alshon dishonesty sty in banking Is admitted that the instances that did occur were used grossly to increase tear fear in the public mind we aarm we shall continue to strive tor for higher attainments in our profession and strive tor for laws that require competence and ability in management that we cannot legislate honesty and unselfishness into either a banker or a borrower must be conceded but dishonesty wherever found should be punished it is as true in banking wf as elsewhere that no matter how good gabd the law dishonest and incompetent men can make it ineffective good laws are essential we must estrivo lor for ever oyer better ones but their enforcement will come only as the public recognizes that it Is a matter bernot not of laws or codes alone but of the men who administer them the publics public part our people must be brought to realize 17 e that the welfare of our country depends upon its banking system that the strength of the banking system depends upon the publics faith end and understanding and the vast majority of banks because of faithful service rendered even through the whole of 0 this general breakdown had the right to expect the trust and confidence of the people in every great catastrophe no matter what its nature no matter what its cause someone must be crucified the banker was this time selected in the late political agitation started a tirade against the rall railroads some railroads may have done reprehensible things but the agitation became so eo general and so violent as aa almost to destroy one of the fundamental factors in the progress of a country today the same thing has been lone done to the banker in spite of all that has happened the tact fact remains that even most of the banks which tailed filled are paying out infinitely better than are investments in almost anything else |
