, 1874-10-05

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-, =, RI.
marvellous H. THU nqooonsi 9, century at Tint Of
s,loh great p'sf' prolo'5ssioI'' aaeh g1oas
n pFanoh o. Hetnan netvsy 4neEe H. no ' dn!l
ntlol excaRt @ eo,thaf'%a % ~ ny Tr,ttnSa M OF Mi,at
9al'k 1s ana what u aeald n: ny It - csaen,
"a n ofaor @ 10 anaefusard crises, to understand
Mha1 nahas ,Ea a.e; ns Isy sro plenonohn o. panR
lug; Iney ulo tho ChaheMo oea OF oa'lRauy:
.s NOV .ho foii.se,non "''1 ptoosHpiy eay that
natl"ct nah doas ~ T., muney Fey no. dons mt
lat- sin nauAoe " II t,os dgaor 10 money. u is
HOY ". ~ y. nu''oy. uaFu saY many Gcnt!o-
III fair TAnnshnr n,,," nui aoI nnot' -
Vol, gcntu,nep, yo,i dou't recIn rnnt1v fnt \
aglt Wc}]. we vii m nn I'm, rnti IN
MUzer yoar ago tint n I,anlnr iii mi .]oa1 in
mouoy nboyo ofp.thirt1olh of hia hus}nce1. Df
course. in order to 20 on to that Computation,
must understand what ,nonny IL. Mia in atl-
other ugly question.
What IN monov2 c,vc n 1or},,ra hsforo Tin
Oha1nbor Of Commereo of Liyornopl on that
question. 1 will. in pnasfng. fakn thu word
Alonatn, In Home. II was tle mint OF homo
tho fuo,,cy vns etnn,nef nlecos of natal. eonor-
ally known by the mama of coin. NotLipr Ia
money but tint: nnl lin t2onaua Ind no doubt
about it, boca,ao thoy had no paper money. I
I'M Yory vilur howeyor. far thia diso,lssion. to
include ehc bnnk-noto1a as nouoy. viii auy Qcn-
tletnan fayor ma viii, tho hrnnf, 1intinotIon BE-
tween tho bapk-,,oto aud nny etllor piooo Of
paper expressing debt? Why IL not 4 chock
money? Yom know t snv tho hnnk-noto itso|T
ia not money. promise to ciyo thing IL not
tho thfuc itso]f. Thoso who Cali napcr money
pro in tits mope: thoy say that n llioco of papcr
saving. Al uili nav you tho lnunoy wlieu
you ask for It," or i'wl,cf it is convenient for
nc" US III tho case Of your curropcy. Ia money.
Paners Of ali kinds aro ,f1orotv title deeds nothing
oIBo. Ercopt rLou Yoll nro na8sinR couyertiblo
currency lara, pieces Of paper nro merely writ
ten oorl6oa1es to 70 to tho Judge and Jury with
=
@ Le coin 70 nicl, that calls for Tioy are evidence
to produce before q court OF law.
wuv n4rv.vo1ra A.. MN uosrr
ao,,r h.c1s % ~ nv ,,,cat,on min : ,no,, nal. xor
~ Iunf oaea ,s;. ~ ~ N H. sg"n ash .o
SHn v, Tally WEI TO- % 'hsofea Watn a. answer
mnas ussaenfe nSno ~ .ne @ ~ anas, ~ l tno
scconuas5 M gsnsu, ~ canno' 10 ctloM noney, 1soan
III p.eSsp a, -, pata, a+ "a , p1s, aa
dn, ~. tsin.t ~ s.ist,, WILL. M 1tia
s neny .nv s.a'vss e. Los9apsy y s'Ftns '1o ILL., 1slo
" .no,s t ~ ~" i,n,,a n,ns;,,
Iake g. man c1cck lut NY lotse or'ollu6 oones
,ren ~ ~ ~ a ~. at - III, ~ % IaS m ~ G G"i ~
s guj " 20" ~ NY ~ ~ 20 az ~
n'nnox nmas onEs onna roo ,n m at ~ o
by 4asins w,sat au IN fraeers ud9dzh!e'
Mr. VpayKo-itn Wnat G!Asa ~, "onM you pl1cee
M tne EaHes f5pn'sen .asusu oy ~ 1n1Gsusmt ~
'u1 utl1ea n'a:ss tuas aro auo @ ,eGIl IT,
.,at ;ua soo usaol Wv aon.,,'"s',
that hevo ~, gsemn O. money ~ A. Inc secondary
toEan tran y, ~ o INV WV nn.,, '' ,i,,t
.ahsn i.un ~. nsu ~ nanu. ~ w ma, anSs LIN.
.ht,o. ~ ttn ,3,a ~ @ Tnu y Ta 80
o5 1scl,a,,s T. Co IN nnoiy9nd m tho rcccin.n ~
I19 OO0 600. Of TINT firm, Sui torul TINT in tnt
anlo.lnt 20 in G1U0 woro cash, and 10 plilliuys
only voro coin. There wau only 8 nor cent. /
said it WAS one in 80, and 1t turned out to be ono
iu 33k. SO baple1s do not deal in money. II
lint ii not tlcir business what aro tlrso nnoty-
bnnlf2 THO answor will depend upon those
ninety.scyen things. I'hey arc, ono and ali
debts to collect; pieces OF paper nughod In upo,
tue counter, all implying that John and William
Yon go and collect those tebts for mo. Tint
is q bankcr's business; 10 collect pioocs Of
paper embodyiug debts, and to collect them.
lilo next thing ID what docs a banker do Docs
he e. snd got tle meney which I,o tas right g
not going TO be nut to tbut bothoration. What
ho doea b tLiss A cotton man Las iunt thrown
down E5, 600 worth Of bills upon tlla counter or
tho bank. a man wle is a dealer in allk turns
np tys , m'natqH Inn inter md ssya thin "iwant to
will hold you harmless. Aayo got security, but
aecnrity not available to-day" What dooa tho
bunker do ? lie gayg: "Give mo the secl'ri-
tiea; you don't VAIL to soil the1l; cotton ntan
know lie will not draw anY cl,ocks upon those
for at loast q month. Go and buy silt Tor .
month, aud + will meet your ohecks." Tho
banker has debrs to collect; and low docs 10
collect them7 BY creating fresh debts in which
ho is tho londor. That is banking.
/ yAxxsn ESSENTIALLY A. BROKER,
rd,eu. =, w. 1,oo,, la,.1. - 49,, ;.,..,t,,.,,
,or ~ M If a1 ~ nl.a "
a. ;na;tntn,, ~ ,a tro ~ cro,;tu ,,,. ~.
at hn'ter c,,n "a tho 1nInw;nr ~ ,sisr ,,res ns
lar. hant,or ia aaaont1alir = hro,,or ,rj,at Il
his trno c%arnrter mi nni,,yn m 1mr;1;nfo 10
.nont hof 1son t,ro nrincnou 1Iora IN liz raao