Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1864-01-28
Suggestions of tho Comptroller of
the Currency to. the Managers of
the National Bank o. ..sflr .....
p oFrsf, o, Cotrfrol4rss q gsE;ttseI' q ;ts'

.ir wSaissros, Dec. %, f565. )
The managers Of the National Banks viii
pardon me for making few suggestions to
them upon subjects Of interest to them and
the National Baking systems . ts..
90 RECORDS OF ORGANIZATION. gl
The articles Of association, copies of which
have been transmitted to this Office, should
be recorded in the minute book, together
With the proceedings Of the stockholders IN
the first election of Directors, 30 as TO clear
" exhibit the organization Of the bank. In
this book should also be recorded the by
laws of the bank the proceedings OF the
Board in the election Of officers, and all tho
other proceedings of the Board Of Directors
at all the regular and special meetings.
The minutes should exhibit the appoint
ment Of judges Of all elections Of Directors,
and the return or report of the judges; the
installation of the Directors elect after each
annual election, and that the proper oaths
were administered to them; the appoint
ment of officers; the penalty Of the bonds
required of them; and that the bonds have
been filed and approved by the Board. ln
short, the minutes of bank should exhibit
its original organization; the proceedings
that are had for the perpetuation of its cor.
porate existence, and the action ofits Board
Of Directors in experimenting and directing
its affairs. The minutes of each meeting
should be signed by the President and at
tested by the Cashier.
.".-' BUSINESS.
The business of the bank should be care
fully and promptly conducted. The books,
at the close Of each day. should exhibit the
amount of cash on hand and the exact con-
dition of the bank. In large banks all the
books should be balanced daily; in small
banks, weekly or semi monthly; and as Of
ten as every quarter, a careful examination
of their affairs should be made by commit
tees of the Directors appointed for this pur-
pose, and report Of the result of these ex-
aminations entered upon the minutes. The
officers Of the bank, other than the Presi-
dent, should be appointed to hold their of.
fees during the pleasure Of the Board, and
bonds should be executed accordingly. This
will obviate the necessity of requiring an
nual bonds from these officers, and will pre-
vent the occurrence of time when they
will not be under bond Presidents being
annually elected or appointed, will of course
be required to give annual bonds; and when
ever an officer is appointed or re appointed,
bond should be required Of him. -L-.s
'.77' CONDITION OF THE COUNTRY.
Bear constantly in mind, although the
loyal States appear superfcially to be in a
prosperous condition, that such is not the
fact, That while the Government is en-
gagged in the suppression of a rebellion Of
unexampled ferceness and magnitude, and
is constantly draining the country of its la
boring and producing population, and di
verting its mechanical industry from works
Of permanent value to the construction o.
| implements of warfare; while cities arc
crowded and the country is to the same ex
tent depleted, and waste and extravaganza
prevail as they never before prevailed in the
| United States, the Nation, whatever may
be the external indications, is not prosper
ing. Ihe war in which we are involved is 8
stern necessity, and must be prosecuted fol
the preservation of the Government, M
matter what may be its cost; but the coun
try will unquestionably be the poorer every
| day it is continued. The seeming prosper
| ity of the loyal States is owing mainly tC
the large expenditures of the Government
and the redundant currency which these ex
penditures seem to render necessary. .
Keep these facts constantly in mind, anC
manage the affairs of your respective bank
with perfect consciousness that the appar
!, ent prosperity of the country will be proyet
!, to be unreal when the war is closed, il
not before; and be prepared, by careful man
! apement of the trust committed to you, +
|, help to save the nation from financial col
lapse, instead of lending your influence t
make it more certain and more severe.
t -H'rlsl s.. DISCOUNTS. -..'
r Let no loans be made that arn not secure
i beyond reasonable contingency. Do notf
: ing to foster and encourage speculation
t Give facilities only to legitimate and pr
dent transactions. Make your discounts O
las short time as the. business Of your Gu
toners will permit, and insist upon the pa,
= ment of all paper at maturity, no matt'
n whether you need the money or not. Me-
IS er renew note or bill merely. because yo
l. may. not know whore to place the none
y with equal advantage if the paper is pai'
d In no other way can you properly contr
IS your discount line, Or make 1t at all times
J, Liable, ..,-a ~. Kin -. ,r.1....t
IS Distribute your loans rather than conce
d trate them in few hands. Large loans
,t single individual or firm, although son
k times proper and necessary, are general
5sfiniudieious and frequently unsafe y Lars
borrowers are apt .to-oontrol the bank; ar
" when this is the relation between q bar
3, and it's customers, It is not difficult to d
70 cide which in the end will suffer. Eve
ID dollar that bank loans above its capt.
es and surplus it owes for, and its manage
i are therefore under the strongest oblig
ot tions to its creditors, as well as to its stoc
ID holders, to keep its discounts constantly u
N der it's controlfi nj 80. .,a.g, - .
ie Treat your customers literally, bearing
=, mind the fact that bank prospers as
NJ customers prosper, but never permit the
of to dictate your policy. = Ha.,J a. la.
C. a If you doubt the propriety of discountlI
le AN offering, give the bank the benefit OF Il
i'll doubt aud decline it;l never make d.
ly count if you doubt, the propriety OF doh
{ Lii. IF you have reason to distrust the
ne ,tssrity of a customer, close his account.
m Never deal with rascal under the impr'
" sion that you can prevent him from chez
~ ing you. The risk in such cases is grsa,
y than, the proftsY ~ .s,54l! bas aa9z
no In business, know. no mans politics.
as Manage your bank as q bpsinessinstitutic
land let ~ PSlit patttsiity t ts q Ptsjud
~ influence your jud dgpleht ,or actipp 10 I
ne conduct Of its affairs. The National @
ne rehcy system is intended for nation, I
O. fSr d party AS nfar asin you lies, Keep
8 alo6f from all partisan iAfiuenees.l 81