New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1849-12-04
80 gay deFe,

fnnb tines when Bank Charters bad 20 DC 90
tanned Of the Leglslasure, ever body y" 'o'1
tina. they were designed 70 help Business men
Nowadays, though bank-nssers are more inoe
pendent, and any man who nss t'e
Sc. up hi. ias:totiou Of disoo7n' ana oe
zi,hou, ,sking special pefnission' Ine
r.,,osa 4. s,ill the benefit Of the public 10 ma
ALI ,chsr.s 81 private proSt profess I" Dc '-'~'1'
nate
Tbi. 1. the aea. bat the thing .ctaally oone
doesn't resemble it very nearly we VIII sap
,o.a ths gaaL Of TIA established 10, the Psrt'eu'
I.-oo,~s,ia,ee Of certain class Of business men,
AZ I'D. tobbe-s for instazce. They Do business
a, 4, ard have a certain claim 20 occasional dis
counts. Close iinss arrive, and Nefsrs Cssh K
Ca a substantial house become rather pressed io'
money, and apply 10 have ii:tle pape, doae.
There is no doubt about the goodnsss Of the notes
they offer, BE-. all the Banks iands are oo', and
thus il is impossiols for !; y discount any paper
Jus. then, all 70 TIE grslt regrst Of the Cashier
and all the other officers At east 50 they sag, AID
Me,rs. Cash 4 Co. 90 away with heavy hssfv.
They try 81 Walls. Here Il ia cary "a ssy JACK
Robinson. They meet with shre~d senilen an
named, We vii E0ppore, Dir. Smash AZ 0Piigh'
and sstssmsd citizen, who rents II ne does no.
0enapsw 10 so,ne uptown church MI smA'h
/, iass he an for them and al Tor Their good ara
f,r the GOOD Of trade. he consents, though 81
loss 70 himself perhaps, y lend them the money
=, ,.o ne, cent month Mr Smafh, who 10 :
10. s,cctboldsr and : director IN tie Bank Oh
Tn. takes the very notes thst could no' De ds
counted fJr Gait Co 70 thst excellent instto''on'
writes his n,me o. them AID 5. o.ce receives tie
money ct :he rate Of per c. yea In's caves
L usr CT. for ar smashs little profit, which, COZ
.ideriog the case. ia rather ia; Bat il becomes
more than fat when We coDsider that i was Be
cause be vs.. borro wing 10 the utmost extent toe
money Of the Bsnk 10 order q shave notes. inst
Il, REGULAR customers could not be accommodated.
ge had in h's hands al the funds and q course
70 him Cssh & Co he'd 10 e. Ard psy ma P''oe.
Briefly. therefore the Bsns Of Tin 10 machine
which Nc smssh employs 70 shave ell men whom
be can find 10 SKIP in a Lawful ~sy
Now thi. is not fancy sketch Ne shCw ni,fe
n an one Gaze Of the sor and have no do1ot every
axysfisuced merchant could tell of msny such
operations The reason is simply that ,he inter-
eat Of the Bank IL opposed n that Of toe pubic
inciuorg Cssh 4 c.. ia word, b: IL its b1siness
% n,se for i,s stockholders ell the money Pos''-
BE. There - accordingly No fault 70 Be found
Si.h H. though z does Sc ? them = get per ceut.
a month is;eresl, il ia regular financial t1so'
action.
Bat the consequence IS that Cash G.. src
used up, and gro long become b,ukrUpts Of .ne,f
iasrition. Their cspitsl hss al passed into the
passessioa q their kind friend Smtsh and they
have nothing ,efs bu; debts iney cannot pay. And
al this they misht have avoided but tor lhs fact
hat be hal absorbed the fuAds Of the bank o. TIN,
shich va. set up f3r the accommodation Of nef-
chants but In the ooU'se Of its operations got d.
verted little fsom that parpoEo.
Nov all merchants and ali men kro~ these
facts; they are written down In flaming letters IN
our omaivorous catalogues of bankruptcy, and as
long bsnkingis organized on the existing system
shey will rem.io. Theirs il. however, method by
vi ich the course OF thiogs may he changed and
as II depend. on the sufferers 10 have shat method
.4optei, Why, # they remain as they are, twill be
tho If own fault That method is the Organization
u Matusl Banking. Let them reflect upon It.