24	THE CHICAGO BANKER	[Volume XXV
			
Tine Audit Company of Illinois			Marshall & Ilsley Bank Milwaukee, Wis.
			ESTABLISHED 1847
1137 First National Bank Building, Chicago			Capital $500,000 Surplus $250,000
Specialists in Auadlitiragl aad System־־			Oldest Bank in the Northwest Conservative Progressive
Public Ses^yice Corporations C. W. KNISELY, С. P. A. President—Manager REFERENCES: Leading Bond Houses dealing in Gas, Electric and Railway Securities			We take pleasure in placing our facilities at your disposal and should be pleased to have you write us if you are contemplating opening either an active or a reserve account in Milwaukee. OFFICERS AND DIRECTORS JAMES K. ILSLEY, President JOHN CAMPBELL, Vice-President HARRY J. PAINE, Asst. Cashier JOHN H. PUELICHER, Cashier G. A. REUSS, Mgr. South Side Branch SAMUEL H. MARSHALL J. H. TWEEDY, Jr. ROBERT N. McMYNN C. C. YAWKEY GUSTAV REUSS
			
We have deposits in our banks of more than thirteen billions of dollars, and our total banking power is over fifteen billion dollars, being more than the entire banking power of the world in 1890, and about one-half the total banking power of the world to-day. Hence, it seems to me impossible to consider the revolution in our methods which would become necessary to establish such a bank, nor do I believe it essential, as a system can be provided which will harmonize with our present note issues and permit the problem to be worked out without such a radical change.
I believe thoroughly in a bank becoming independent in its note issues and not be subject to discretionary powers lodged anywhere, except to be compelled to comply with certain provisions of the law.
(To be concluded in the August 22d issue of The Chicago Banker)
believe that our people will permit their money issues to ever become so involved. Considering the vast expense of our territory, it is not at all certain that a central bank would serve the needs of our people as well as in a more densely populated country.
There are a number of problems in this country to be solved before we could undertake to consider such a bank. The question of what to be done with our independent treasury system, which has served us so well in times of crises. What about our bonds now serving for a basis of circulation? Shall it become a bank of deposits as well as a bank of issue? Some contend it should only act as the fiscal agent for the government, and issue currency and not become a bank of deposit, a plan differing widely from foreign banks of issue, and differing also from the first and second banks of issue in our own country.
supervision under any of the plans I have noticed lies largely in the hands of government officials, usually men without any marked financial experience. Here again it would be subject to the play of politics.
Safety in the issue of notes is preserved by permitting a large number of banks to issue, thereby placing the issue less under the control of the government than would be the case in an issue by a great central bank, and thereby preventing the government from abusing its law making powers, by either suspending specie payments or using the gold reserve for war purposes as was done in France and England, nor could the government absorb the loaning power of the banks to the disadvantage of the people.
While it is true that there has been a considerable tendency in this country toward centralization in large financial affairs, I cannot
Banking News, Milwaukee—Wisconsin District
sociation, although there are none of these issued by any Milwaukee banks. They are cash orders intended to meet and offset the money order system of the American and other express companies in the city, which issue an order, redeemable in all parts of this country and Europe. The association orders will be received by the banks here at par. They are purely a matter of convenience in commercial business and for travelers.
H. F. Wolf Back from his Vacation
Herman F. Wolf, cashier of the Wisconsin National of Milwaukee, and family, have returned from a month’s vacation at Elkhart Lake,
Wis.	-It, %
The Bank of Holmen
The Bank of Holmen has recently been incorporated with a capital of 15,000 and surplus of $1,500. The following directors have been elected:	C. H. Sjolander, Otto Bossard
Thomas Johnson, W. D. Sandman, and J. M. Halderson.
The State Bank of Stratford
The State Bank of Stratford has been organized with a capital of $10,000.
rons of the bank and its officers and employees. The main banking-room is arranged with the counting-room in the center, with semicircular counter facing the front and corridors on either side.
Welcomes Large and Small Accounts
The Bank of Sparta welcomes the small account, and considers it a matter of good policy to give equal attention to small and large accounts. The bank has a capital and surplus of $60,000. Its officers are: D. W. Cheney, president ; L. T. Hill, vice-president; A. W. Barney, vice-president; E. H. Canfield, cashier, and C. C. Ayers, assistant cashier.
Scrip Used in Making Change
The souvenir book also contains illustrations of the scrip issued by the Bank of Sparta during the war. All coin had disappeared from circulation at that time and the scrip was used locally for making change.
Milwaukee Clearing House Meeting
At a special meeting of the Milwaukee Clearing House Association it was decided that all banks in Milwaukee would honor the so-called money order issue of the American Bankers As-
The Bank of Sparta is celebrating its fiftieth anniversary by sending out a new and concise atlas of the world, including maps of Monroe County and the city of Sparta. Starting on the eve of the great panic of 1857, the foundation was laid for a permanent, conservative bank, and that the Bank of Sparta safely passed through the succeeding panics of 1873 and 1893, and again in 1907 was able, and did conduct its business as usual through the period of stringency, marks not only the safe policy pursued and the sound banking methods, but also the confidence which the bank enjoys in the community.
Bank in its Own Building
The home of the Bank of Sparta was occupied in May, 1907, and is located on the site of the old building, which was erected for the bank in 1864. The new building is of classic design, massive in outline, the construction being of the most solid and enduring character. The front is of Indiana Bedford stone, the foundations of concrete, the basement walls of native stone, and the superstructure of brick. The interior arrangement was designed to fulfill the best modern ideals of a building devoted solely to country banking purposes, with every convenience for both the pat-