The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1872-01-16

| ADofiED thoM j. w. GlLBAkT, F. Il.
PART OF THE BUSINESS of banks is to
receive other peoples money, and return
it upon demand. And when any person
puts money in hank, he is said to open
an. account with the bank, aud when he
has thus opened an account, and contn,
ues to put in and draw out money, he is
said to, have current account.
In SOME COUNTRIES ALMOST every man
has an account Of some sort with bank.
The rich man in trade has an account be.
cause of the facility Of conducting his
operations; the rich man ont of trade has
Ian account because he gets interest upon
his deposits, and he keeps his money in
the bank until lie has an opportunity OF
investing it elsewhere at a better rate of
interest. The middle and lower classes
have an account because of the conven-
ieuce Of it, and because they can thus
Hodge their savings in place Of security,
and can obtain interest on the sums thus
lodged, il left for given time. And all
for the advantage to be derived from sem
ding checks in place Of currency.
/ SHALL DIVIDE INTO two classes those
who should ke p hank accounts those
who are engaged in trade, aud those who
are not
+, FIRST, As to those engaged in trade.
Nov ASH, Why don't you keep a bank
account? Yousay you have been iii hu-
siness several years, and have never kept
one. OF course.if no banker would take
your account. you could not do other
wise: but now there are bankers willing
to take your account. But yCu say you
can do without u bank account or
course you can. The question is, not
whether bv possibility you can do with
out bank account, but whether you can
do better with one2 But, YOU reply. it
would not be worth any bankers while to
take youraccount because il would be so
light. That's for his consideration, not
for yours. The question for you to de-
eide is, not whether your keeping an &C
count would be of use to him, but whether
it would be of use to yourself. / shall
point out some Of its advantages.
In THE FIRST PLACE, by keeping bank
account, your money will be lodged in
place of security. You hav now $50 or
500, or perhaps sometimes 5000, that
you keep in your own house; you take it
up into your bedroom at night, and when
you go out on a Sunday you carry it in
your pocket. Now you may lose this
money outof your pocket-the till may
be robbed-or your house may be broken
open by thieyes-or your premises may
take fire and the money may be burned -
But. even shonld you escape Loss,you can
not escape ANXIETY. When you have a
little more money than usual, you have
fears and apprehensions lest some acci-
dent should occur Now, youwi!l avoid
all this trouble by keeping bank ac-
count
Z
THE BANKER WILL NOT only take care of
your money, but also of anything else
you commit to his charge. You can get
small tin box. with your name painted
on it, and into this box you can put your
will. the lease ofyour house, policies of
insurance, and any deeds or other docu
ments. that require particular care. You
can send this box to your banker, who
will take care of il for you; and you can
have it back whenever you like If your
premises are insured, it is clearly improp-
er to keep the policy on the premises for
il the house be burned the policy will be
burned TOD; and where then is your evi-
dence of claim upon the insurance office 7
ANOTHER ADVANTAGE is THE saving OF
time. When YOU receive money yon viii
send it in a lump to the bank and when
yon pay away money YOU vii draw
caeeksu the hank Now, to draw a
check takes mp much less time than count
iDg out the money that yoa have to pay,
aud perhaps sending out for change be
cause you have not the exact sum. BE
sides, You sometimes hold bills which,
when due, you have to send for payment :;
now,you can lodge these with your bank
er, who will present them for you. And,
when YOU accept bills .you viii make them
payable at your bankers, Instead of ma
king them payable at your own house :
Now, in all these cases there is great
saving Of time: and, besides, your bills,
from being made payable at the bank. will
be considered more respectable
ANOTHER. ADVANTAGE OF KEEPING a
bank account is, that it will be a check
upon your accounts. need not speak to
you, as a trader, of, the importance Of
correct accounts. Your bankers books
will be an authentic record of your cash
transactions. If you make a mistake in
your trade books, the bankers book will
often lead TO a detection of the error III
youhave paid a sum of money, and the
party denies having received it, you can
refer to your bankers account, and pro-
.duee your check, which is as good as a
receipt BY means Of bankers account,
you could trace your receipts and pay
ments, even after number of years had
elapsed; and hence, disputed accounts
could be readily adjusted, and error, ari-
slug from forgetiulness or oversight, be
speedily rectifed.
Now, THEN, AS YOU have made up your
mind to keep a. bank account, the next