Show SEES HEAVY CLAIMS ON FUTURE BANKERS american bankers association official declares that banking changes creating large bank systems will call for broader social viewpoints larger scale group or branch banking will inevitably bring a new era ot of banking organization and operations to the united states and bankers will have to develop new iw conceptions new administrative methods and paw now economic views rudolf S hecht clifair chairman of the D economic con onile policy commission of 0 the american bankers association recently told the members of tho the american institute of banking the institute la Is the educational section of the association and he ha emphasized the point that the now era in banking demanded that we must step up our education so that banking shall be fortified tor for new responsibilities what the future calls for wo 0 must br broaden 0 aden our social cenec conception concepion P I 1 ot of banking mr hecht said not only tor for the technical operations ot of the lew banking must ourselves but bat loth both as individuals and an organized profession we nye must chargo charge ourselves with serious consideration of cie t le social problems pio blema that are involved already we hear and fears and doubts as to whether the changes that are coming ghoul about in banking in the extension of group and branch systems do not constitute the looming loomIn of a now financial menace a monopolistic threat not only to tile the individual unit banker but to the financial liberty of society in general I 1 am stating these things merely as facts that must be taken into consideration in our studies public opinion cannot be ignored by any business least oe 0 all by banking which Is admit admittedly temy serit sent public in character and ls is there therefore forc subject to special supervision by the constituted authorities it develops tendencies that give rise to public tears fears wo we must so conduct ourselves cursell es as to reassure all doubts for this Is true that business succeeds only by serving soc society lety that no business can permanently prosper which does docs not both tender render service to ito the public and at the same time convince tile the public that it is rendering that service Dan banking king therefore must take cognizance of oc what the tha public Is saying of this now era in its development 11 it must bo part of the technique or of modern hanking banking administration whatever form our enlarged institutions take to avoid the creation of monopolies or even the appearance of such bach a centralization of financial power as to be able to exercise an undue influence over public or private finance or other lines of business the publics right to the safeguards of 0 fair must be observed must preserve individual initiative it must also ie be an item of management that individual initiative and opportunity shall be maintained it if america has outstripped other nations in the distribution of the benefits of its progress it la Is due to tile the fact blat there are no barriers barriera barr lera of social caste or business tradition against advance anent for character ability and initiative american business ness has learned that it serves itself best by encouraging by every practical means individual ambition and initiative and hurts itself most by repressing or neglecting them competition for efficiency both within an organization and between organizations will prevent any institution from long enduring in which maintenance of opportunity and recognition of 1 initiative are not controlling principles of management As heads of the greatest of 0 our financial and industrial du institutions stand men who aho started from froin the humblest of beginnings through all tho the grades ot of executive authority and reward stand men in positions in n keeping generally speaking with their individual merits 1 I personally see no reason for fearing that the enlarged banking organizations which the future may bold would necessarily supply future bank employees with any less opportunity for achievement evem ent thau than unit banking agillon Agil again ln a major consideration of administration in any multiple form of banking organization must be its public relations in every community it touches its foremost consideration must be actually and visibly to serve the economic up building of that community no system will be long tolerated whose local members work or are suspected as working to draw eolion economic ile strength from one place to enlarge the fin anical power of another the local unit bank lias has always been part and parcel of the communities where it lives aldno aad no system can last which does not make it a major prin y cople of operating technique to serve gerve and not exploit the communities into whose business busl nesa lives it enter |