Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1873-10-09
Ranks and Finance.


ness of the country, is beginning to loosen
up little, and the only thing necessary
to insure a return to active business in all
departments is confidence in the ability Of
the monied institutions of the country to
meet their liabilities. There are Just as
many greenbacks and just as much Nation
al Bank paper now as there was before the
suspension, and not even the worst panic
stricken man in the country has the re-
motest suspicion but that every dollar of
this paper possesses as much value as it
did at any time since its issue. No man,
as in former monetary troubles, is afraid
that this kind of currency will die in his
pocket, for he knows that it has a
basis that insures its redemption to the
uttermost farthing. What then. is the
matter? Simply nothing but fright; moth
ing but panic without real cause. True
there have been some commercial, and bank
failures, and most of these have been the
results of the panic-withdrawa of money
from the legitimate business of the eoun-
try and locking it up in private safes, where
it is, for the time being, as useless as so
much blank paper. The currency of the
country is the life blood of business; with
draw this and you place a deadlock upon
trade and commerce This seems, to a
great extent, to be the condition of things
at this time.
Under this state Of the case, what would
be the best policy and the safest method
by which speedily to restore confidence
and return to former activity in business?
Certainly, it cannot be done by withdraw
ing all the deposits from banks and refus-
ing to make new ones in them, and placing
the money in private safes. Nor can it be
done by Withholding stock and produce
from the markets, as we regret to notice, is
the case now, merely because, by holding
on a few weeks, it is thought by holders,
that it will bring a little higher price. All
| this time the country is undergoing a Sc
we're trial, and for the want of this money,
locked up in safes, and invested in stock
and produce that is withheld from market
many business man is forced to the wall
with assets in his possession to twice the
value of his liabilities.
We presume that no one, who has di-
vested himself Of all unjust prejudice
against banking institutions, has any doubt
about the solvency of either of the three
banks in our own town; yet we hear COM
plants against these banks or not supply
ing the county with the needed currency.
We will just state that it is the business Of
banks to lend money, not to get all they
can and keep it locked up in their vaults;
| but when they have loaned it ont, and the
| loans have been invested in stock and the
produce of the country, and that stock and
| produce is still in the hands Of first pur-
chasers, and these purchasers have per-
mitted their paper to go to protest, rather
than to put their stock, etc, on the market,
/ the banks are in rather poor condition to
! furnish currency for the legitimate, or any
other business of our county. We do not
know the exact amount of bank paper due
the three banks in this place, that is in
this remarkable condition, but We believe
we bpt state the truth when we say
that since the panic commenced, not less
| than $50, 600 Of bank dues in this place
has gone to protest, because the debtors of
these banks have refused to put their stock
on the market and pay their bank indebt
! edness, and thus enable these institutions
to furnish the currency necessary to trans
| act the legitimate business of our locality.
We are not the special apologist for any
banking institution but we are the advo-
Gates of the interests of the people, and
these interests demand a little more iber-
ality on the part of traders, and monied
men, as we'll as fair and honorable dealing
on the part of banks with the people.
Whenever confidence is restored, and
men are convinced that there was no rea
just cause for the panic bank dues are pait
and depositors, instead of Withholding
their money and locking it up, return it OF
deposit to the banks, where it can be pu
; out into the active business transactions 0
the county, all branches of trade and bus
mess will resume their former prosperity
and not till then. To bring about this re
n suit should be the earnest energetic et
e fort of all classes. Liberal views and bus
: iness-like energy is what is needed, an
Il all will be well.