Proceedings of the Convention of the American Bankers' Association with the Constitution and By-Laws, and a List of the Officers Volume 28

Proceedings of the Convention of the American Bankers' Association with the Constitution and By-Laws, and a List of the Officers Volume 28

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1902 edition. Excerpt: ...as to the principles which are involved. We know that a branch banking system would cost the community less in the amount of interest which must be collected to pay the expenses and profits of a banking system. We admit that there would be a less number of banks, a less number of clerks, a less amount of rent to pay and greater facility in the movement of money between the different sections of our country, and greater convenience to some lines of business. Nor do we take the ground that the small banker, as a small banker, is entitled to any greater protection than any other class of small business men when the interests of the public are at stake. The position we do take at this time is this: That to let the great central banks of our cities into competition with the smaller banks of the country by taking down the restrictive legislation of present laws would so injure the opportunities for credit of the present great class of borrowing customers of small banks--those men who are starting small enterprises, who are starting small manufactories, who are developing the mineral and agricultural wealth of this magnificent country of ours, which is as yet an undeveloped country--that we would so injure them that as a national policy it would be most unwise for us at this time to adopt. (Applause.) Before this country developed its manufacturing industries we protected them from foreign competition, and the magnificent growth of those industries has justified that protection, although at first it was a cost and a burden to the people of the United States. With the great undeveloped territory of the United States we have not yet reached the time wlien we can afford to curtail the opportunities for credit of small business men, as we should do...show more

Product details

  • Paperback | 144 pages
  • 189 x 246 x 8mm | 268g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236992946
  • 9781236992949