Maumee City express. [volume] (Maumee City, Ohio) 1838-184?, 1840-02-01
MAUMEE CITY EXPRESS.
SATURDAY, FEBRUARY I, 1910.
ALARMrsa-A1Mosr!-The following a

l. SATURDAY,, FEBRUARY ], 1910.
ALARMING-ALMosT!- following ar
tlcle is going the rounds of some of the pa
pers, headed "Alarming Facts!'-" The
official report of the Bank Commissioners
of OHIO, states that the loans and discounts
of the Banks are over $s5,OOO,OOO, OF which
more than one half were made to 932 ind-
viduals, and less than 10000 citizens owe
every dollar of the whole"
Now whut there is, so very alarming in
this state of facts, we would like to be in
formed by few of the wing editors who
are giving currency to this " alarming" Lo-
cofoco panic article. The report of the
Commissioners shows the banks of OHIO
to be in as sound and as safe condition as
those of any state or country; and being,
as they generally are, managed BY men
who understand their business, there is ev-
cry reason to believe that their loans have
been made to men who will be as likely to
pay as any others. If then, the banks are
sound, what have the people to fcar!-And
if their debtors are good, what have the
banks to be alarmed about?
To sustain charge of favorltism against
the banks has always been favorite mea-
sure with the Locofoco prints, and the above
article Is paraded as triumphant proof of
the truth of the allegation. But let us look
at it. The number of free white male", Of
responsible age (the only class of persons
who would expect loans from banks, in this
state, is 29l, ,132; the number of those who
have obtained loans is 10,00O-one person
in twenty-nine, throughout the state, being
bank debtor. Now, the ratio of borro,o
ers is larger than we should suppose that o.
applicants would be, except perhaps, in the
large commercial towns, and certainly bears
as high proportion to the whole population
as any one, in these times could expect or
wish. And when it is recollected, that
these bank customers are continually chan
ging, borrower succeeding borrower, on
short time loans, we think the charge OF fa-
vortism must fall to the ground. go
But, favorte doctrine with the Locofo-'
cos is, that none but banks and borrowers
are benefited by the operations of the cre-
dit currency created by the banks. The
slightest examination will convince an in
telligent mind, that this is untrue. When
the banks are in situation to discount free
ly, and to give that assistance to trade that
it is their legitimate business to furnish,
there is no one who does not feel the effects
of the impetus communicated 20 every
branch of trade or industry; and SO, on the
contrary, when the banks are oppressed and
prosecuted, man must be deeply retired
from the world, who does not stand affected
by their sutierings, in greater or less de-
gree.
Nor does the fact that the banks have
loaned money In large sums
Prove that they have acted imprudently, or
that the people have been unjustly dealt by.
If large sums have been borrowed, large
security has been given, large business
been done, and probably employment given
to large numbers. These large sums have
been put in circulation, and thus benefit
has accrued to thousands beside the bor-
rover.