The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-06-02
the SUSPENDED BANKS,

have attracted some attention 70 our
financial condition from abroad, have
had Ia reality little or no effect upon
either our commercial or financial
status as the class Of deposltors IN both
thesuspended banks were not generally
merchants or business men, but taken
~ q whole, were citizens who rarely II
ever post themselves IN TO the actual
conditioned banking institutions, even
when dong business with them,
II Is u we'll known fact that there
WAS lack Of confidence in both tho
State Savings aud First National banks
some time before the climax was capped,
and now that these Two banks nave
gone by the board the question natn"
rally arises, ara the other banks safe :
Taking the expression Of confidence
among business men, and other reasons
which are plainly understood In this
community, asa guido, We can safely
say they are Whenever there Ia local
confidence In u monetary institution,
that Institution il generally safe and ina
healthy condition, Of the State Savings
bank, IL IL questionable II II were TO
recuperate and start again with an as-
sured backing to dot legitimate basil
ness, II IL could ever regain the cOnli-
denco once reposed in II, The First
National stAnds some better, and II the
hope Expressed by Mr., Kerr, It's presiN
dent, that IL will pay out dollar for dol'
lar proves true, II might in time re-
deem its good name yet that is ex'
Wcmoly doubtful for an unfortunate
bank IN like an unfortunate female
Once let her fall and her prog
ress Ia downward II Ia sheer
nonsense TO throw all the blame Of
u suspended bank, in every case,
upon the shoulders Of its president and
officers, II is often the case that they
suffer more than anyone else II not in
the loss Of money in the loss Of caste
their former friends, without taking
timo 10 inquire into the why's and
wherefores like in the case of the com
parison above alluded to, are ready TO
cry them down, and TO imputc dishon'
esty to their every act, The world ia
cold and uncharitable at best, but when
it comes to money, that all powerful
commodity, tho human family is M
ravenous IN its quOrrels. over il as the
carnivorous beasts over their prey. 1t
always has been and always will bo So
for 'money is the root OF all evil,
Taking common sense, practical view
of the situation here in Dallas, il can
only be discovered that there has been
a great deal Of smoleand worry little fire
1t is positively known that not Il
quarter OF dozen business houses OF
business men have been directly affect
ed by these failures, for our business
men as class are men of sag0city and
qualification for doing business, and
that explains tho whole thing. O
course there are sufferers here who
could i'll afford TO lose their money, and
this is deplored but sympathy is Il
very cheap article and there is always
plenty oft 10 DO had in cases like these
Ignorance of the law excuses
no one, and the rule is Just
as applicable to other transactions
in every day life. There is no doubt
in our mind that the banking business
in this city has been greatly overdonc
when our population, both as to mum
bers and character, is taken into con.
sideraton. Five banks were Just about
two too many. There is good paying
business here for three banks at the
outside, and for the present those who
lost their money in the two suspended
banks may have to do some grinning to
bear their losses, but it is warning
that in the future the status of de-
positores should be better known than
they have been in the past.