The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-11-13
Drawing. Money y Out Of The Banks
4 aud Neereting It.

Drawing. Money Z Out Of The Banks
and SecreIing II.
In times Of panic or commercial dis
tress II has been the practice for q certain
class Of deposi.ors to draw their money
ont Of The banks and secrete Il about their
persons or houses. Sometimes such per.
sons pay very dearly for this precaunona.
~ proceeding. One or two instances
have already occurred in this vicinity
since the monetary troubles set in, show
Ing that It is one thing 10 draw money
out Of bank and another to make 1t 90.
cure Afterwards. The safest place in the
world for money Is in the burglar and fire
proof vault OF well conducted bank.
No people understand thisiact better than
burglars themselves The banks are moi
only fortified now a'dsys with vaults that
DEFY burglars during the huurs In
which, 8 burglar can ply bis vocation
but they also keep one Vr more watch
men onduty, armed and equipped for &C.
tive service. : ANY one who has seen The
difficulty, expense, delay and work expef.
fenced by banks in getting into their own
vaults in case oil a mistake in the record
oil numbers on the dial can understand
how almost impossible 1t Is for burglars
to effect an entrance. Experienced ma
chinlsts with the best Of steel tools and
with every facility afforded them are
Obliged to work for twenty-lour hours
sometimes before the bank Is enabled TO
get at It's funds When burglars work
they must choose the silent hours Of the
night. even supposing they are able to get
inc bank, difficult process nova days,
aud they must also work nOiselessly and
in constant trepidstion for fear of discov-
cry When they have gone through an
outside vault there is still another INSIDE,
which is still more difficult oil entrance
These inside vaults are wonders Of strength
and ingenuity and come as near being a
place "where thieves cannot break
through and stesl'' as any place this side
Of the upper country.
,Astolhe. moral hazards" Of money on
deposit in bank that is apoint for every
deposition to determine for himself by rea.
SOC oiyhls acquaintance with the men
who are directors and officers in an insti-
tuition. Generally speaking, however, it
may be said that the people who lose
money by The default oil bank officials are
about as scarce throughout the country
In serits Of years as those who are struck
by lightning There has been more de.
faultipg within the last two or three years
than perhaps in the ten years preceding.
And as regards our own community, there
has been but one instance Of the kind in
its whole history 80 far as we are aware.
As 10 the risks OF bank breaking in
times like these, there Is great lack Of
proper information among depositors. We
speak particularly Of the National banks
In the first place, the notes OF National
bank are just as good when the bank
breaks as when 1t Is perfectly solvent.
This results from the fact that before issu.
ing any notes 1t must first deposit govern I
ment bonds in the Treasury at Wash
ington. Even then the Government only
permits it to issue notes to ninety per cent
Of the face value Of said bolds, No Ma
tiopel bank issues liz own paper or has
any control over the issue whatever. The
Government furnishes the paper to i.
after the deposit Of bonds. Thus It Is that
all National bank notes so closely resemble
each other, and thatthey are so difficult
to counterfeit. No holder Of genuine
National bank note can ever lose Its value
by the failure Of the bank. IA
In regard to the deposits Of National
Bank 1t Is a fact not generally known that
each stakeholder Is liable to the depositors
todouble the amount Of his stock That
Is to say, that Il a has thousand dollars
stock he becomes liable not only to that
extent to tae creditors Of the bank but
also to the extent Of another Thousand
dollars besides. 30 that \ bank v.g
acspital Of two hundred lhVusIuh dpi-
lars. ia really liable for four hundred thou
sand. alp5El -s s.D Fas-
And s,ill further, every National bank
70 obliged 10 keep In It's yaultsa reserve in
sreepbacks equal 10 one.fourth otis depo
BITS and islishle to be called on anyday, not
only by general reputation on all the
hanks from Tho Comptroller OF tho Cur.
rency 10 show how 1t stood on any given
past DAY, but Is also constantly liable TO q
visit from a Government detective, q
Treasury expert In other words, who
knows how to go through the aaaiGs o. Q
bank 10 ashort time without fear. or 10.
vor. II he,fnds anything wrong, hesays
nothing 70 ths bank abou, ii, 6ui quickly
informs Che Comptroller, who at once
Issues peremptory mandamus to the OF.
GERS Of the bank, directing them to put
themselves in shape at once or wind
up. He permits no nonsense in the
management OF the National banks.
They must conform to the laws Of secu
rityfortheir customers or goiDto liqnida,
non' -ca.Ii.Eg. gar.a-
In regard to the security Of theis funds,