The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-01-28

&C. n. sGeoRAIGIn. BAisez.
\ PRESSING COMMERCIAI. WANT.
Dine of the NEST frequent inquiries made !
fcftizens ofthissection by business men
t a distance, is, "Why have you no
ank Pr And to men living in COM
nercial centers, it appears extremely
lbsurti and inexcusable, that there
hosild not be hank at some point in
his populous, fertile and wealthy
'egion, to facilitate commercial trans
actions and to aid the country in times
IF need. With those who are daily
themselves of the advantages
of a, bank, this surprise is natural, and
their inference, that we are a non-pro-
gressjve people, is entirely justifiable.
Not that now and then, feeble efforts
have not been made and some legtsla-
ton invoked, to establish a bank; but
these efforts have invariably been ex-
hausted in. wind-worlk and speculation.
We, take leave to; say that enough
spouting and pledging have been done
in Monroe, and vicinity, to organize
and set to work not less than half-a-
dozen banks. -, Is it not time; with the
wealthy commerce of this region to
back the enterprise, that the para
mount need of that commerce, should
be supplied3 t.t-t -. .,s-f-.--.. ..s
1t Is not to be expected, that one un-
skilled in banking should be able to
write very learnedly of that intricate
and rather mysterious branch Of COM
merce; but our limited observation JUS
titles US in the assertion, that a hank,
in either Trenton or Monroe, properly
managed, would yield handsome
profit to it's incorporators. It would be
a place of deposit for business men in q
large section of country, who would
transact through it, necessarily, all
their exchange, and from whom BUSH
ness men of other places, through the
bank, :; would obtain satisfaction for
their bills! This single item would
pay bank, managed as economically
as one could be here, Il very consider
able profit.
The merchant need not be reminded
how greatly bank would facilitate the
filling of orders in distant cities and
the settling of the same. Every day he
is losing on exchange, from two to
three per cent, for the want Of a bank
here, With correspondents at the trade
centers; while merchants there are con-
tinually cumming and having about
filling orders, and charging exchange,
because they cannot draw direct upon
the purchaser and Mt once realize upon
the draft. IT, .-.r, -
A place of deposit for cash, and IL
place to sell short paper, are both badly
needed in our midst. The man who is
so fortunate as to have a few hundred
dollars in hand, is either compelled to
purchase safe, annoy a merchant, or
deposit his money in a New Orleans
bank, in order to assure himself that
his funds are secure. Some of our mer-
chants are annoyed in this way almost
beyond endurance, and if the funds left
with them should chance to disappear
mysteriously, it would be almost a
miracle if their regulations did not
suffer for the loss. ..-
1t often happens that our business
men hold good paper, but not due for
thirty or sixty days, which they are
DESTROYS of selling, or depositing as a
collateral for money to be used. BY
making such an exchange as this, per-
haps ten, twenty, or even fifty per
cent could be realized in three days.
But to make such an arrangement now,
is, practically, like flying to the moon,
and the chance to realize must be lost.
The facilitating of collections is
another very decided advantage to be
gained by having bank. A note in
bank must be paid punctually, as a
rule; otherwise, there is a call from the
notary, and then away goes the UNI
lucky payers credit. The payer knows
this, and to meet his paper calls upon
his debtor, and the latter upon his, and
so on, until the money is found and all
the claims are satisfied. 1t Sys-
tematizes business and makes it more
certain. 1t encourages credit, by max
ing credit nearly as good as cash capi-
tai, and thus relieves that great evil of
half its snares and misfOrtunes.
SO much generally; what might be
said with n local application, may as
..,oll Io Ilafnrre1l until some encourage