Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1864-01-28

yond his income, dismiss him; even if bis
excess Of expenditures can be explained
consistently with his integrity, still dismiss
him. EKtravagance, If not a crime, very
naturally leads to crime. A man cannot be
a safe. officer Of bank who spends more
than he earns.
CAPITAL
The capital Of bank should be a re-
atty not fiction and it should be owned
by those who have money to lend, and not
by borrowers. The Comptroller will endeav-
or 10 prevent, by all means within his con-
troll, the creation of nominal capital by
National Banks, By the use Of their circ1tld-
ton or any other artificial means and in
his efforts to do this, he confidently expects
the cooperation Of all the well managed
banks.
GENERAL MANAGEMENT.
Every banker under the national system
should feel that the reputation of the sys
ten, in measure, depends upon the man
ner in which his particular institution i:
conducted, and that, as far as his influence
and management extend, he is responsible
for its success that he is engaged in an ex
pertinent which, if successful, will reflect
the highest honor upon all who are connect
ed with it, aud be Of incalculable benefit to
the country but which, if unsuccessful,
will be reproach to- its advocates and a
calamity to the people. 1t should be chief
aim, therefore, of the managers of the
banks to make their respective institutions
strong not only to keep their capital from
being impaired, but gradually to create a
surplus that will be protection to their
capital and to their creditors in the trying
times that sooner or later happen to al
banking institutions. There are few item;
that have better look upon the balance
sheet, and none that is better calculated to
give aid and comfort to the managers Of a
bank, and to secure for it the confidence Of
the people, than large surplus fund. Gre.
ate, then, good surplus, even if you have
for time to keep your stockholders or
short commons in tho way Of dividends tc
do it. .'
Pursue a straightforward, upright, legiti
mate banking business. Never be tempted
by the prospect Of large returns to do any
thing but What may be properly done undel
the National Currency act. ''SplendiC
fnanciering" is not legitimate banking, anC
splendid financiers," in banking, are gen
orally either humbugs or rascals.
i Racollect especially at the present time
that il should be the object of all honorable
BANKERS to expedite, as far as possible, rath
er than to postpone return to specie pay
ments While the exigencies of the natior
have required that the issues of the Gov
eminent should be legal tender, it mus
never be forgotten that the business of tht
country rests upon an unsound basis, o
rather is without proper basis as long a
q the Government and the banks are not meet
! ing their obligations in coin.
The eyes Of the people are turned to tn
National Banks. The indications are stron
that if they are well managed they will ful
E nish the country with its bank-note circul;
. ton. 1t is Of the last Importance, thel
:. that they should be so managed.
. The sincere efforts of the Comptroll'
: will not be wanting to make the system
: benefit to the country. May he not expe,
that these efforts on his part will be sustain
ed by the efforts of the managers of tt
: banks that have boen or may be organiziH
= under it? .-
. HUGH MCULLocH, Comptroller.