Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1856-09-29
FIem y. London Im... 81. Q.

fTon fhe London Times, sept V.
As the practice OF banking becomes common the
disclosures Of the system by which bank. conducted
every day tending to bring the practice into d-cred
Better for the small tradsnAn tie up his earnings it,
stocking and hide it in his bed-better for small lod-
gng housekeeper cousign her gains the broken tea
pot the top shelf Of her cupboard which l. the recep-
tace OF her hidden treasurer than for either become
depostor IN banks conducted such lax principles
such negntion Of principle, some that have lately
under notice. The Of t il that the mis-
management and failure Of bank throws suspicion up
on ALL Some pcR banks have lately been established
and have been doing business successfully that they
have afforded dividend the shareholders of from 10
70 20 per cent We look the Of the directors
and begin to take courage, when unfortunately
Der that are, after all faacy-that religious
baronet may he solemn humbug and millionaire Lord
Of the Treasury bankrupt victim Of suicide The bank
ruptcy Of strahan Paul and Bates fearful losson as
well 20 depositors 20 bankers To the latter exposed
the dangerous qucksands which Turk beneath too venture
SOME speculation TO the former iteIposed the Aimsness
OF the trust 10 winch they deli yeed their all IN this world
and probably TO many suggested that oinstock bank
might be safer than private Scarcely had the pub
lie recovered from the astonshmen created by the dis.
cOYery Of gigantic sNindle when there came another
hunderclap John Sadler found dead on Hampstead
heath, aud the Tpperafy Bank jont-stOck pr.
vste copanywss Obliged 20 close is doors and confess
% the robbery Of ~ custOmer Add now, when we're
| ty about TO b. purified, aud commercial prudence
about 70 be established discover the folly Of expecting
directors 20 be prudent where there chance Of great
gain, or 20 be moral where there danger Of immense
| failure.
The ROYAL British Bank established some years ago
With sufficiently modest preensions IL was to be mod
elled the Scotch banks which have been conducted
for the most part prudehy that the instances in which
payment has been stopped by any Of them have been
ceodingly Whether mode Of banking which ha.
been eminenug successful 10 provincial Of Scotland
and even In such cities Glasgow and Edinburg is =
quay applicable 70 the Rngsh metropolis. where IL IL
impossible that the managers Of the bank have any
accurnc knowledge ol I'll the transactions ~ lie custom
err we sha not stay 10 inquire but certainly there
ers the presfige Of a Scottish success in favour
| Of the new institauon. The bank was profrssedly
started 10 accommodate the industrious deserving trades
man whose capital lay rather in his sober and pod
ding routine than W his credit bis purse assist the
publican doing steady business In the shop and
The hnendrpef With bic unpreendng window the grocer
Who stakes his credit IN large letters his unrvaed
90 mixture, aud the entsrprsing hairdresser Who IN
honour OF his bears gea-o that he has KILLED
smother bear % day Properly managed, such bank
nav assist the deserving Iradcsman With inhnitesma
capital and IL MAJ Yield fair profit the shareholders
Who embark W. a. Bot who these shareholders likely
70 DO The scheme has evidently great attractions for
o~rtan oass--naney, fof those uho have horror OF
great speculaons snd who have faith IN the aggregate Of
small profit. anss-ei by small trade.non There V an
immense number Of old mats and sidous AID halfpsy
hsu'enant ard farmers aud country surgeons who would