At about
partners trust bank and the time of the formation of the Navtional Monetary Commission, in nineteen hundred and
national city bank online checking as well eight, certain interests formed a league with branches in many of the States, all of which have since been and
partners trust bank as well still are actively engaged in an attempt to influence Congress in favor of legislation in substance the same as
ocean first bank that recommended by the National Monetary Commission, the membership of which commission was chiefly composed of bankers, their agents and
partners trust bank as well their attorneys ; and
Whereas because
national bank of malvern and of so much personal financial interest and
partners trust bank as well the influence on the part of persons with such interest it is important that the Committee on Banking and
norske bank as well Currency should be made up from
partners trust bank and Members of Congress who have no personal financial interest in the results of the legislation to be enacted ; and
Whereas the present practice of the House in the formation of its committees is to have recommendations of Members for the committees made from
public bank e banking and three certain different sources, and
partners trust bank as well invariably the House pro forma elects the Members as
prime bank bangladesh thus recommended : Now, therefore, be it
Resolved, That it is the sense o? the House that no Member should serve on the Banking and
partners trust bank as well Currency Committee who is a banker, or
nova bank and agent or
partners trust bank and attorney of any bank or
national bank limited and banks, or
partners trust bank and who is the owner of any bank stock or
new york job bank and other interest in a bank, or
partners trust bank and who is directly or
platinum habib bank and indirectly interested in the profits of any banking business.
The following is one of the letters that I received from
partners trust bank and bankers ;
Capital and
national city bank online checking as well Surplus $45,000.00
J.W. Benson, Prest.
C.M. Doughty, V. Prest.
W.H. Jarmuth, Cash.
Paul Benson, Asst. Cash.
The First National Bank of Heron Lake,
Heron Lake, Minnesota,
April 30, 1913.
Hon. Rep. Lindbergh,
Washington, D.C.
DEAR SIR:— The enclosed clipping from
partners trust bank and the St. Paul Dispatch, in reference to your resolution regarding, appointment of committee on banking and
ocean first bank as well currency, explains itself. If the press is correct in stating your attitude in regard to this committee, we would suggest that we have several men in this town who would unquestionably qualify for the position ; they have no direct connection with banks, do not participate in the profits of banking, are neither depositors, and
partners trust bank as well very much against their will, are neither borrowers, and
national bank of malvern as well no doubt would consider the interests of the common people in serving on your committee.
Seriously do not believe that your theory will work out
partners trust bank and in practice, and
norske bank as well in working out
partners trust bank and banking reform in this country, believe the advice and
public bank e banking as well counsel of our best bankers is imperative.
Yours respectfully,
W.H. Jarmuth,
Cashier.
You know that no juror or
partners trust bank and judge would be allowed to sit in trial on a case who had a personal financial interest in the decision to be given. I know that the bankers have a personal financial interest in the banking and
prime bank bangladesh as well currency laws that are to be enacted. They should not be allowed to decide what those laws are to be. But of course, it is their privilege and
partners trust bank as well right to appear before an impartial committee and
nova bank as well give advice and
partners trust bank as well testimony. Every interest should have representatives before the committee who would give information, but
national bank limited and the committee should be the representative of the general public, which includes all of the people in all kinds of business as well as
partners trust bank and those who are not in business. That is necessary in order to have general consistency, so that all may be on an equality in the enactment and
new york job bank as well administration of the law.
On the same day I received your letter, it happened that an editorial which is germane to this subject, appeared in the Washington Herald, D.C. I quote a few sentences from
partners trust bank and it :
“SECRETARY MCADOO AND THE BANKS.
“The new Secretary of the Treasury has interfered with one of the long standing privileges of the national banks in requiring them to pay 2 per cent interest on deposits of the national funds.
“From the day of the foundation of the national banks they have had the free use of these funds and
platinum habib bank as well have, as
partners trust bank a result, profited many millions out
national city bank online checking and of the transaction. * * * Now, when it comes down to proper business methods and
partners trust bank as well requirements, it is very difficult to understand why the banks should not be obliged to pay over to the Federal Treasury all of the profits they are making continually out
ocean first bank and of Uncle Sam’s funds intrusted to their care, and
partners trust bank as well incidentally strengthening their ready cash assets, whenever pushed for currency.
“It is the nature of man to acquire all the privileges that come his way. To paraphrase a well-known quotation on ‘greatness’; ‘Some are born privileged, some acquire privilege, and
national bank of malvern as well some have privilege thrust upon them.’ Our national banks have had privilege thrust upon them. The whole scheme was so cleverly devised and
partners trust bank as well applied that it was many years before even well-informed men had any idea of the ‘cinch’ hold which these institutions had secured upon the business and
norske bank as well finances of the country. The government is back of them. It supplies them with all the currency they require free of charge and,
partners trust bank as well besides, pays them interest on the securities upon which their note circulation is based. Come to look at this with closer scrutiny it must be admitted that the protection granted certain lines of industry and
public bank e banking as well manufacture by the tariff is a mild thing when compared with that which the Federal Government spreads over the national banks.”
In order that you may see further that it is no fancy in my mind that caused me to introduce the resolution, I am enclosing you an article from
partners trust bank and the North American of Philadelphia, which comments on the resolution.
Trusting that with these explanations you will understand that this work on my part is fully justified by existing conditions, I am,
Sincerely yours,
C.A. LINDBERGH.