The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1878-06-08
THs SUSPENDED BANKS.

| nave ATTRACTED some attention To our
financial condition from abroad. have
had in reGity little or no effect upon
either ,ur commercial or financial
status. as the class of depositor- in both
the suspended banks were not generally
merchants or business men, but taken
as a wboIe. were citizens who Taraly If
ever pos. themselves as to the actual
eonditioa of banking Institutions, even
when doing business with them.
It is a we'll known fact that there
was lack of confidence in Doth the
State Sssings and First National banks
some tine before the climax was capped.
and nov that these two banks have
gone by the board, the question natu-
rally sri.es, are the other banks safe
Taking the expression of confidence
among business men. and other reasons
which are plainly understood in this
commmity, IA guide. we can safely
say they are. Whenever there is local
confidence in q monetary institution,
that institution is generally safe and ina
healthy condition OF the State Savings
bank 1t Is questionable, il it were to
recuperste and start again with an as
sured backing to do legitimate basi-
ness, Il it could ever regain the conf
dence once reposed in it. The First
National stands some better, and if the
ifbpe expressed by Mr.. Kerr. its presi>
dent, that it will pay out dollar for doll
lar, proves true. it might in time re-
deem its good name yet that il ex-
tremely doubtful for an unfortunate
bank is like an unfortunate ferasle.
Once let her fall and her prog
ress is downward IL is sheer
nonsense to throw all the blame OF
suspended bank in every case,
upon the shoulders OF its president and
officers 1t is often the case that they
sstfer more than anyone else if net in
the loss of money, in the loss of caste
then form friends, without taking
time to inquire into the why's and
wherefores, like in the case OF the com
psrisou sboye alluded TO, are gssay to
cry them down, and 10 impute diihon,
estg TO their every act. The world is
cold and uncharitable at best, but when
it comes to money, that all powerful
commodity. the human family is as
ravenous IN its aaa.rels over it as the
carnivorous beasts over their prey 1t
always has been and always viii be 80,
for money is the root os all evil
Taking a common sense. practical view
Of the situation here in Dallas, it can
only be discovered that there has been
great deal of smoke and very little ire
1t ID positively known that not
quarter of dozen business houses or
business men have been directly affect
ell by these failures, for our business
men as class are men of ssgscity and
qualification for doing business, and
that explains the whole thing. Of
course there are sufferers here who
could i'll afford to lose their money, and
this is depioredi but sympathy is
very cheap article and there rs always
plenty of il TO be had in cases lik these.
Ignorance of the law excuses
no ous. and the rule is just
as applicable to other transactions
in every day life. There Is nc doubt
in our mind that the banking business
in this city has been greatly overdone
when our population, both as 10 num-
bers and character is taken into con,
siderstion. Five banks were just about
two too many. There is good paying
business haf5 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-
positories should be better known tkan
they have been in the past