Milford chronicle., 1888-03-16

that they damage the banking institution
which is the great convenience Of the cen
turies, and indispensable to commerce anC
the advance Of nations. With one hand il
blesses the lender, and with the other i
blesses the borrower. The bank was born Of
the worlds necessities, and is venerable witt
the marks Of thousands Of years. Two hun
dred years before Christ the bank Of uium ex
listed and paid its depositors 10 per cent. The
bank of Venice was established in HI, and
was Of such high credit that its bills were al
premium above coins, which were fire.
quently clipped. Bank Of Genoa, founded IN
1915; bank OF Barcelona, 140l; Bank Of Am
sterdam, 1850; Bank of Hamburg, founded
1913, its circulation based on great silver bars
kept in the vaults; Bank Of England,
started by William Patterson I'm 1912,
up to this day managing the stupendous
debt Of England; Bank of Scotland, founded
in 1905; Bank of ireland, 17S3; Bank of
North America, planned by Robert Morris,
III, without whose financial help all the
bravery of our grandfathers would not have
achieved American independence. But now
we have banks in all our cities and towns,
thousands and thousands On their shoulders
are the interests Of private individuals and
great corporations. In them are the great
arteries through which run the currents of
the nations life. They have been the re-
sources Of the thousands Of finanoiers in DAYS
Of business exigency. They stand for ac-
commodation, for facility, for individual,
state and national relief At their head and
in their management there is as much in
terest and moral worth as in any class of
men-perhaps more. How nefarious, then,
the behavior Of those who bring disrepute
upon this venerable, benignant and God
honored institution.
We also deplore abuse Of trust funds. be-
cause they fly in the face Of that divine good
ness which Seems determined to bless this
land. We are having the eighth year Of un-
exaInpled national harvest The wheat
gamblers get hold Of the wheat, and the corn
gamblers get hold Of the corn. The full tide
Of Gods mercy toward this land is put back
by those great dykes of dishonest resistance.
When God provides enough food and clothing
to feed and apparel this whole nation like
princes, the scramble of dishonest men to get
moro than their share, and get it at all
hazards, keeps everything shaking with un-
certainty and everybody asking: "What
nextF' Every week makes new revela-
tions. How many more bank presi-
dents and bank cashiers have been specu-
lating with other peoples money, and
how many more bank directors are in
imbecile silence letting the perfldy go on, the
great and patient God only knowsl Nv
opinion is that we have got near the bottom.
The wind has been pricled from the great
bubble of American speculation. The men
who thought that the judgment day was at
least 5000 years off, found it in 1883, 1887 and
1886; and this nation has been taught that
men must keep their hands out of other peo-
r1ln
rowed capital have been obliterated, and men
who had nothing have lost all they had. 1
believe we are started on higher career of /
prosperity than this land has ever seen, if. !
and if, and if.
If the first men, and especially Christian (
men, viii learn never tospeculate upon bor- /
rowed capital If you have mind to take /
your own money and turn it all into kites, to |
fly them over every commons in the United 4
States, you do society no wrong, except when /
you tumble your helpless children into the .
poor house for the public to take care of.
But you have no right to take the money of /
others and turn it into kites. There is one
word that has deluded more people into bank
ruptcy and state prison and perdition than
any other word in commercial life, and that
is the word borrow, that one word is respon-
sible for all the defalcations, and embezzle-
ments, and financial consternations of the
last twenty years. When executors conclude
TO speculate with the funds of an estate COM
mitted to their charge, they do not purloin.
they say they only borrow; when a banker
makes an overdraught upon his institution,
be does not commit theft, he only borrows.
When the officer of a company, by flaming ad-
7ertisement in some religious papers, and gilt
certificates Of stock, gets a multitude of
country people to put their small earnings
nto an enterprise for carrying on some un-
developed nothing, he does not fraudulently
AXE their money, he only borrows. When a
7oung man with easy access to his employers
money drawer, or the confidential clerk by
lose propinquity to the account books takes
/ few dollars for a Wall street excursion, he
xpects to put it back; he will put it all
'ack; he will put it all back very soon. He ,
'nly borrows. What is needed is some man
4 gigantic limbs to take his place at the
urbstone in front of Trinity church, and I,
When that word borrow comes bounding !
long, kick it clean through to Wall street
erry boat, and if, striking on that, it bounds |.
lear over till it strikes Brooklyn heights OF :
brooklyn hill, it will be well for the City Of /
Jhurches.
Why, when you are going to do wrong,
-
f six letters, when you can get a shorter
7ord more descriptive of the reality, a word
{ only five letters, the word steall
There are times when we all borrow, and
orrow legItimately, and borrow with the !
ivine blessing, for Christ in his sermon on ],
be mount enjoins, "From him that would J.
orrow of thee turn not thou away A i
oung man rightly borrows money to get =
is education. Purchasing house and not =
BILE to pay all down i'll cash. the purchaser =
ghtly borrows it on mortgage. Crises =
)me in business when it would be wrong =
" a man not 70 borrow, But roll this =
arning through all these aisles, over the =
aclcs Of all these pews, never borrow to "
,eculate; not a dollar, not a cent, not a ;,
rthing. Young men, young men, warn =
lu by your worldly prospects and tho value
your immortal souls, do not do it. There 4.
e breakers distinguished for their ship :
recks s-the Hanways, the Needles, the :
askets, the Douvers, the Anderlos, the ,
1erries-and many craft has gone to q
eces on those rocks; but have to tell you n
at all the Hanways, and the Needles, and P
@ Caskets, and the Skerries are as nothing s.
impaired with the long line Of breakers I
hich bound the ocean Of commercial life L
nth, south, east and west with the white 1
am OF thelr despair ana the dlrge OF their y
mnation-the breakers Of borrow II
II had only a worldly weapon to use on C
is subject would give you the fact fresh n
ON the highest authority, that 80 per cent. u
thosa who 60 into speculation in Wall d
'eet lose all, but 1 have better warning g
an worldly warning. From the place al
lere men have perished--body, mind and W
nj stand off, stand off Abstract pulpi; "
scussion must aside ON this question. Faith a.
ID repentance are absolutely necessary, but
ith and repentance are no more doctrines
the Bible than commercial integrity. Rem
r to all their dues. Owe no man anything. %
nd while l mean to preach faith and re- in
ntance, more and more to preach them, by
not mean to spend any time So
chasing the Hittites and Jebu- so
es and Girgashites Of Bible times, VI
len there are so many evils right around in