Show WHAT BANKING WENT VIE P THROUGH cy by JOHN 11 At american bailers association in its long career has B BANKING been compiled com palled to withstand many netious lous shocks but it ran into the most perplexing entanglement ay of its whole ole history since the general breakdown or 0 values in 1029 the commercial a t r u c ture of 0 the e entire world seemed to have been shaken from its foundations and the lie marvel Is that the banker J H alth everything breaking doin all dibound around him was able to come coine through il as lie he has general business failures ral luree agricultural I 1 rt stagnation agnation income losses capital losses inabilities to meet debts and ther therefore elore inabilities of 0 bankers to pay back depositors when loans were not paid vere the leamons lea iea sons in most instances for or the bank failures no profession no department ot of life la is without its weaker elements but hd aroler frasl aeration de ration been sivea to t 0 f abe relatively ely few lew instances estan ces in banking had exaggerated and startling headlines been kept lu in true proportion had banking not been used as a target tor for political self seeking and with vote seeking motives had unfounded rumors not been spread the peoples confidence might have been retained and tar far less would have been their losses there were factors in our banking experience which every earnest banker deplores factors actors which many had bad worked years to eliminate which it was fearfully recognized would aggravate any difficult d days ya which might arise one of tb the 0 worst of these was due to political regulation which chattered many banks that should never have been that there have been incompetence and dishonesty in banking is admitted that the instances that did occur were used grossly to increase tear fear in the public mind we affirm we shall continue to strive for higher attainments in our profession and strive 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 aa true in banking as elsewhere that no matter how good the law dishonest and incompetent men can make it ineffective good laws are essential we must strive tor for ever better ones but their enforcement will come only as the public recognizes that it is a matter not of laws or codes alone but of the men who administer them our people must be brought to realize that the welfare ot of our country depends upon its banking system that the strength of the banking system depends upon the publics faith and understanding that the majority of banks because of ralth ful service rendered even through the whole of this general breakdown had the right to expect the lie peoples trust and confidence in every great catastrophe no matter its lature no matter what cause someone must be crucified the banker was this time selected in the late political agitation slatted a tirade against the railroads some railroads may have done reprehensible things but the agitation became so general and so violent as almost to destroy one of the fundamental factors in the progress s of a country today the same thing has been done to the banker in spite of all that has happened the fact remains that even most of the banks which tailed failed are paying out infinitely better than investments in almost anything else |