St. Mary's gazette., 1864-01-28
COMPTROLLER McCULLOCH AND
The NATIONAL BANKS.

The Comptroller Of the Currency has ad-
dressed circular to the officers of tho vari-
ous national banks throughout the coup-
try. naking many interesting suggestion.
as TO the proper mode Of conducting those
institutions. The following extracts are of
general interest:
Bear constantly in mind. although the
loyal States appear specifically to be in q
pl osperous condition. that such IL not the
fact. That while the government is eu-
gagged in the suppression Of rebellion Of
suexnmpled 6erceness and magnitude, and
is constantly draining the country Of its
.aboriug and producing population, and
diver,iug its 'mschaaical industry from
works Of permanent value to the construc-
ton Of implements of warfare; while cities
are crowded. and the country 10 to The
same extent depleted, aud waste aud ex-
travsganoe prevail as they never befvre
prevailed in the United States, the nation.
whatever may be the external indications.
il . Il prospecting.
The var in which We are involved Is q
stern necessity. aud must be prosecuted for
the preservation Of the government, no
matter what may be its cost; but the eoun-
try will unauestionably be the poorer every
dsy j. is continued. The seeming prosper
ity of the loyal States is owing mainly to
the large expenditures of the government
aud the redundant currency which these
expenditures seem to render necessary.
Keep these facts constantly 10 mind. and
manage the affairs of your respective banks
with perfect consciousness that the arpa-
rent prosperity of the country win 5eprsved
to BE- unreal when the war is closed. If no,
before; and be prepared. by carefuksnanage-
ment Of the trust committed to you, to help
to save the nation from financial collapse.
instead Of lending your influence to make
il more certain aud more severe.
Let no loans be made that are not secur-
ed beyend reasonable contingency. Do
nothing to foster aud encourage specula-
tion. Give facilities only to legitimate
and prudent transactions. Make your dis
counts on A. short time a. the business of
your customers will permit, and insist upon
the payment Of alA paper at mstnriiy. no
matter whether yOu need the money or
0OSs NGNSS GSoS& uOtC VI mckSty
because you may mot know where to place
the money With equal advantage it the
paper il paid In no other way can you
properly csutrol your discount line. or
make il at all times reliable.
Distribute your leans rather than con-
centra.e them in . few hands. Large
loans 70 . single individual or firm. al
though sometimes proper and necessary.
are generally inju'iicious. aud frequently
unsafe. Large borrowers are apt to cur
troll the bank; and when this is the rela-
ton between = bank and It's customers. il
10 not dificalt to d..cide which il the end
will suffer. Every dollar that bauk
loans abeve iis capital and surplss il oses
for, and ito msnagers therefore are under
the strongest obligations to its creditors. ~
we'll - to It's stockholders. to keep in dis
eouuts constantly u,adcr its eoutrsl.
Treat your cusso,asers literally. bearing
in mind the fact that hank pruspers % its
customers prosper, but never permit them
them To dictate your policy.
II yea doubt ths Prupriety Of discount
inz m s6sripg. give the hank ths beness
Of The desbs and decline i; ssvss nAks .