[Volume XXVII
THE CHICAGO BANKER
22
The Girard National Bank
Of Philadelphia
Capital,	$ 2,000,000.00
Surplus and Profits, .	. 4,100,000.00
Deposits,	40,450,000.00
־־	
FRANCIS B. REEVES, RICHARD L. AUSTIN Vice-President THEO. E. WIEDERSHEIM Second Vice-President	President JOSEPH WAYNE, Jr. Cashier CHARLES M. ASHTON Asst. Cashier
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we might call a permanent cure along real currency reform, based partly upon our government issues, and partly upon the assets of the banks, that relief in stringent times by such a bill as a central bank bill will be sufficient. Let us conclude that now we are in an extremely prosperous condition, lacking this only, and that nature has been abundant in its output to aid our wonderful resources providing this prosperity, because it is a fact that in not one of the reserve cities have we an excess of reserve, but simply twenty-five per cent, and we may not be so fortunate as in 1907 in bringing gold to the amount of one hundred million of dollars, as we did do. We were fortunate then—we may not be so fortunate in a like crisis hereafter.
Well, gentlemen! we have to contend against ignorance and inattention of the great mass of people. So let our conventions continue the great scheme of educating the people as well as ourselves. Sometimes when they want deposit-tickets, they ask for tabs. You send them a notice of an overdraft, they call it a warning. When you send an item for collection and it is collected, an ignorant banker will send you his six-months-certificate-of-deposit and ask if that won’t satisfy the debt. Or when he remits you, he sends you his own draft on his own town and own bank— that he might get the second collection from you. And so on, sometimes, until we are reminded of the story told by Jim Barret in Boston of how he got an overdraft paid.
Illinois, what a wonderful state—powerful manhood in everything. From our own state we have sent you many strong characters. The same stars have shone upon him and sang in the morning of the birth of Lincoln, and the sun in its westward course had led him hitherward on his march to his immortal martyrdom and nurtured him here. Illinois gave the country a great banker in Gage, who helped to build mighty Chicago and the great bank there, but when his country called him to conduct the finances of the nation in our Spanish war, he gave us his best and did well. Let us not forget him as on yonder western shore his hand trembles a little on the stair which leads to the stars.
ing tourists. The American Bankers Association in establishing their travelers’ cheque system has placed it within the power of bankers to meet and extend courtesies to the traveling public with entire safety, thus giving them the opportunity of attracting possible business from strangers.
The interests of the people and of the bankers are in every way identical. Every thing that conspires to bring them in closer touch of value to the country at large. The prosperity of the nation and the happiness of our people, since the building of huge cities and the forming of numberless communities as represented in our smaller towns and cities, depends upon sound financing. The independence of the pioneer is no more, and whether we will it or not we are each and all dependent upon the great institutions of our country and they in turn rely for their very existence upon sound financing. Because finance is the life study of every banker, his opinions mold our legislation, whether the people believe it or not. As our bankers stand together in protecting each other in small ways, so they will grow toward mutual protection in larger ways, and as protection to the banker means protection to the people, every action on the part of banks which has a tendency to increase their efficiency and ability to finance safely our growing industries will add to the prosperity, happiness and content of our people.	^
Logan C. Murray’s Eloquent Address
(Continued from page 18) currency, which is now in the vaults of the treasury, by the lodgment of municipal bonds, for the additional issue of our present national bank notes to be known as emergency currency. Let us come to one conclusion, that aside from what
ceeds in making a signature that satisfies him, shows how little likelihood there is of anyone attempting the more difficult and dangerous operation of forging a signature at one trial before a third party. Bankers are Taking greater risks daily in the majority of their transactions, and in the past when accommodating tourists they have done so at a very great risk, because they have not only had the identity of the party to establish, but the genuineness and goodness of the paper presented. In the case of the American Bankers Association travelers’ cheques, no question whatever need enter the minds of those cashing them as to either the authenticity of the paper, which can be recognized easily, or goodness of the cheques, no matter by whom issued.
When cashing travelers’ cheques of the American Bankers Association for each other, bankers are raising their general efficiency and establishing a system of reciprocity, which will spread into many lines of great value. Every banker in cashing another banker’s paper paves the way to make his own paper good, and as he accepts the opportunity of extending a courtesy to a stranger as well as to the issuing banker, he may have before him in the holder a party who may be the means of giving him much business.
Many tourists visit certain places because friends or relatives may live there, and often strangers see business opportunities in a town, which leads them to take up their residence in it later. This is not a theory, but is actually occurring daily in all parts of the United States. The bankers who receive these strangers, who carry American Bankers Association travelers' cheques, may honor their paper at practically no risk, and, if done in a courteous and pleasant way, it is bound to be remembered by the owner of the cheque. On the other hand, where a cheque is cashed, but grudgingly, and with a manner conveying the idea that a great favor is being done, the owner of the cheque is very apt to remember that also, and in a way not favorable to the banker.
It takes money to travel, and consequently bankers are ordinarily dealing with people of some business standing or connection when meet-