Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1884-09-25

ton in what is termed the popular build
I ing up of banks business. The desire
/ to do a large business, all out of proper
/ ton to an institutions capital has spread
| out many a concern so that only a slight
squat is needed to iatten it forever out
/ Keen, INSCRIPTIONS competition between
banks in cities large or small, is only
recklessness and fOOlhardiness, and the
careful depositor should avoid all such
institutions as he would a powder mill.
for sooner or later beth will blow up.
More conservatism in lOaning and re-
fusal to aid speculation will put of the
return of the evil days Of financial dis
aster and the main key to the situation
is, we think, contained therein.
The law on the percentage Of reserves
Of the National Banks in the large cities
as well as the smaller ones need chang
ing and larger amount Of deposits than
now required should always be kept on
hand, then, as before suggested IN this
article, when great emergencies arise
liberal use of these reserves can be tenn
porariIy permitted. No accounts in New
York should be opened or maintained
with firms who combine the business of
brokering with banking, lin western par
lance) these are dangerous outfits and
should be Stunned.
If the New York Stock Exchange and
all such similar arrangements for provid-
ing facilities for tempting the people into
nothing more or less than gambling
pure and simple were removed by
National legislation, the great cancer
which is now blood poisoning our body,
public and polite, would be
cured up and healthy regeneration
in all legitimate enterprises would
Immediately ensue. Corners by cOmbi-
nations in the necessities of life should
be considered as Offenses against the
State, and the masses of the people
should all 60 slower IN their great haste
to be enriched by any scheme or dodge
other than by the fruits of legitimate in
dustry IN their occupations. Our bust
ness men should cOnfine their operations
within limit justified by their own cap
ital, thus avoiding the great danger Of
overtrading now too freely INDUCED by
all.
The changes wrought, the millennium
of prosperity would dawn and our ner-
vOus and excitable tempeTaments eX-
! perience a degree of equanimiCy never
before known.
Our suggestions are not utOpian, but
within the power Of the people to work
out.
Finally summarizing, to use an express
siVe Vulgarism, we blow in too much Of
our capital in the schemes Of railroad
building, where the Construction
Company only gets the cream;
our surplus means IN outside ventures,
in which we are nOVices; we manu-
facture more than is demanded; buy
the watered stock of our great corpora
tiOns; are easily humbugged out of our
spare cash; have forgotten the word
Thrift. and don't attend to our own bust
ness, whatever it may be, with the whole
souled attention it deserves; want to
/ equal our neighbOr in manner Of living
| and display, when we know his income
| exceeds ours; and give the growing
! young America entirely too much spend
| ing money.
But after all we are an enterprising
| people in q great and unequalled cOun-
! try that will gradually OutgrOw
any spell of hard times that 1t
! encounters. Running on the high
! pressure plan, we have to stop every
now and then let off our superhuOus
are just now on slackened speed. Al
most impercepibly we will recover OuI
usual gait and everything will hum and
jingle again with renewed activity. TIC
! hasten on this desirable condition is nc
doubt the wish of all and it seems plain
that nothing could tend to pro
long this present depression of busi-
| ness 80 HluCll dS q CldAlSo u OuI 0OF5ILi
mental administration. The duty theI
of every man who wishes to improve his
own and the general condition as speed
lily as possible, is to vote the Republican
ticket this Fall. The incoming of new
political party would tighten up thing;
worse than they are now, for a full yeal
would elapse before they would have
opportunity to define their policy, and II
the meantime those who have means
would wait till their actions were known