Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-11-01

talns It's position OF yesterday, as Goes
cotton.
The new silver vault At Washington
now contains s23. 800, 900 in standard sill,
YER dollars, weighing 700 tons. This
money came from Philadelphia and New
Orleans and Is not quite one-fourtn Of
the amount to be ultimately stored in the
vault.
S!rcs July % there has been received at
the seven principal western primary mar
kets 8. COG, 600 buehels more whest than
for the corresponding period last year,
about 600, 600 bushels more corn, and
shout l 500, 0C0 more oats.
The American Banker says: The need
for more barking capital In the south Is
generally recognized in that section and
eI sllent results are already apparent.
During the last two or three months over
thirty new banking institutions have been
organized This is By far larger record
than for q similar period in any previous
time. The last report CT the banking
committee OF the recently organized
Chamber CT Commerce CT Rlleigh,
n. e laid great stress on the necessity Of
isrger bsnking facilities throughout the
eouth aud particularly in North Carolina.
The south might learn wholesome and
profitable lesson from the west in this
respect. In that section there Is scarcely
town which does not possess bank.
Sometimes 1t happens that the very
fret building erected on q
new town cite will be bank
building, showing that the people OF
the west are thoroughly Convinced that
commercial and industrial progress is
impossible without easy and immediate
access to capital. The presence of q
bark gives substantially to the business
interests, quickens enterprise and solid!fles
the commercial elements, OF what would
otherwise perhaps remain droning
villsge without interests of any kind.
The Manufacturers Record OF Baltimore
has 3 sensible word to say IN regard to
| THU:
Il would probably be wise move, says
The Record, II the attention OF the Peep e
Of the south were turned to the orgsniza-
ton of Few banks rather than new indus
trial enterprises for awhile, because cheap
money is essential to southern business
prosperity. With an interest arouse
among eIl classes in tanks. national
tn1 ssvinge-sn immense amount Of
money which is now Idle, hid away
in country places, bringing no profis
TO Its Owners would be drawn out
and help to swell the volume Of active
CAPITAL. All through the south there are
Neli-to- co farmers end Others who have
few hundred dollars, and often mauy
hundreds, hid awsy In their houses. In
the north this money would be deposited
10 the savings banks. There /. would not
only be IS readily accessible as in the
mans own house, yielding at the same
time fair Interest, but 1t would
in the aggregate become &
vast sum Of active working bank
ing capital, helping TO develop and en-
rich the entire section. II the money
that in this way Is now idle could be
drawn from lis hiding place and put into
saving banks, we venture to say that its
volume would astonish every man in the
south. To educate the farmers, the
mechanics and all others-bu. especially
the farmers, for there Is where the
greatest amount OF idle money would
in the aggregate be found-not to
hoard their money in their own houses,
but to deposit II in savir g banks Is q
matter OF tremendous interest to the
whole south. To organize savings banks
which will receive deposits in any
amount from 8 cents up, to have them
carefully managed by the pest men obtain
able, with safeguards to insure
agsiust the possibility Of any frauds, and
to endeavor to make them as universally
popular IS In the north, is one Of the
most bene fetal undertakings in which the
leading business EeKspf the south Can
engage. Probably in no, other way Can
they do their Wfellow. citiz2 as
snd their country gieaser good
than Ia, doing this. A ssfef invest
ment OF capital than that Ipade By esfAb-
liehing banks IN the south at the preesnt
time, and one which promises larger Re-,
turns could hardly be made, The Calf
for banking capital is "gepsral, ard i.
springs from q pressing need; 1t is not
artificial. as We had recent occasion to
show.