The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-04-24
nII PER- CENr
ACard from ihe Peoples Ma
tionni hank nc aIartinsburg 10
the People OF berkeley County.

Lut GuNtAV ~
In view Of terrible and lop~g.coutinued
depression 10 all branches Of business,
and believing that IL Is the duty Of banks
and financial institutions TO grant every
possible relief to persons engaged In all
pursuits requiring the employment oil
borrowed capital, We have reduced our
rats OF discount tosix per cent-the legal
rate Of our State and Nation. We do
this believing that the times imperatiyeIy
demand Il, and that there is not one In
dubtry In this country To- day that a al
ford 10 pay more aud live. Our deposits
have been, for the past eighteen months
and over, from 5000 to $4,000 greater
than our neighbors, Notwithstanding The
fact that we have absolutely refused to
receive money on interest for some
months past, even from our largest
stockholders and Oldest depositors.
We have often been asked by the edit
ora Of our local papers and others why II
was that money could be borrowed In
Winchester, Hagerstown, Willlamsporf,
Frederick, Cumberland, ShepherdstoWn,
and all our surrounding towns a. ak per
cent, while the people Of Berkeley were
charged eight, ten aud twelye?. Our ans
wer has ever been that the banks here
could do the same II they would cease
paving interest on deposits. Paying In
iafest on deposits simply means, rob the
poor and cripple the industrial interests
10 give to the rich. The profit TO the
banks is very small in comparison to the
risks Assumed, they acting merely as col
leclors 10 collect interest from one class
OF persons and pay it to the other: This
system has always been regarded by
sound ~fnanciers with the utmost distrus'
and suspicion, and "a being most vicious
In its effects, A bank officer Of this coun'
~ some years since wrote to Daniel
Sprigg, at that time one oil the oldest
cashiers OF Baltimore city, upon the sub
feet OF allowing interest on deposits. Hi
reply was short sharp and TO the point,
as follows: I'VE naer oLOS faterst on de
ports, and ria not keep an account Eih an,
bnnk that does.n
We are told that our action will iniure
the banking business, and asked how VI
will provide for bad debit; but we are mo-
told how much the high rate Of Interest
charged by the banks has already in
iured the other interests OF the county
You cannot point 10 . business In your
county TO day, except the banking bust
ness hat will pay over six per cent. L
you pay more than you make you are
living beyond your means or i%ntrenehins
on your capital, and "a long rs that II
the case the banks will have bad bebts Il
provide for, aud plenty Of them.
We never could see the wisdom or JUS
tice OF requiring the agricultural ant
other pursuits that will not pay over |
and Q per cent, to be taxed to support III
in charging s and 10. and believe such
policy II continued would be as dis
astrous in its results to US as it i
suicidal TO you.
Whilst We do not propose converting
ourselves into . benevolent society, w
do propose to furnish all possible relic
in our power during these extraordinarY
times, and shall aim to make this banl
The peoples National Rank, not only II
name but In reality-R bank conducted
in the interests Of the entire people.