22. BANKERS' ASSOCIATIONS IN THE UNITED STATES. American Bank ers' Association.—Prior to 1875 there was no national organization of American bankers. In that year the American Bankers' Association was organized at a convention held in Saratoga on 20, 21 and 22 July. By 1916 the Association had become the largest organization of bank ers in the world, with headquarters at 5.Nas sau street, New York. Its membership of 16,000 includes half the total number of banks in the country, and comprises National, State and private banks, trust companies and clearing houses. Annual dues range from $10 to $75 for banks and trust companies according to capital and surplus invested.
The governing body of the Association is the convention, which meets annually. Admin istrative details are in charge of a general sec retary and an executive council composed of members appointed from State bankers' asso ciations on the basis of State representation.
In 1894 the Association began the protection of members against crime and fraud, and de veloped a protective department which works with the W. J. Burns International Detective Agency in' the pursuit of offenders against banlcs. Through its general counsel and a Federal legislative committee, the Association has initiated and promoted laws relating to uniform bills of lading, negotiable instruments, credit practice, currency reform, taxation, the safeguarding of bank depositors and the im proving of banking practice.
The interests of special classes of member banks are in charge of secretaries of a Savings Bank Section, a Trust Company Section, a Na tional Bank Section and a Clearing House Sec tion. Through these sections the Association has made efforts to standardize banking prac tice and check collection; has conducted a national thrift campaign; given publicity to the functions of trust companies; collected statis tics of bank transactions; developed country clearing-house organizations; improved clear ing-house examinations, and effected closer re lations between the banks and the public. It has also compiled a cipher code; copyrighted standard forms of fidelity and bank burglary bonds; devised a numerical system to facilitate chedc collection, and perfected the A. B. A
travelers' checic.
Affiliated with the American Bankers' Asso ciation is the American Institute of Banking, an educational section which, since 1890, has given instruction to bank employees. Courses of study in banlcing law and practice and in elementary economics are given by correspond ence as well as in local chapters. The mem bers of the Institute number more than 16,000 and its certificate has become the recognized standard of American banking education.
The Association maintains a reference and traveling library service for its members, and keeps records of American experience in money and banking. A monthly publication called the Journal-Bulletin is issued by a department of public relations, which also acts as a bureau of publicity and edits the printed proceedings of the Association's annual convention.
The Association has always been active in urging currency reform. Since 1906 its efforts in that direction have been expressed through a currency commission, which has worked with other agencies in bringing about and de veloping the Federal Reserve system. The As sociation has also done much for the national development of agriculture through its cur rency commission, which publishes a monthly magazine called the Banker-Farmer. Points of contact with State bankers' associations are maintained through a section lcnown as the Organization of State Secretaries, and through joint efforts in agricultural extension, the re vision of banlcing legislation, the apprehension of bank criminals, and through co-operation be tween committees.
State Bankers' Associations.— There are 49 State bankers' association, including the District of Columbia. The first to organize was Texas, in 1885; while Illinois, with a mem bership of 1,755, is the largest. These State orgamzations have more than 21,000 members, and most of them rnaintain paid secretaries to further the interests of members through cor respondence, protective features, bond and burglary insurance, group meetings, State con ventions, legislation and the publication of monthly bulletins. Many associations also have paid attorneys, and most of them are active in agricultural and good roads' development.