The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-10-01
NOTE Rankinr capital Needed.

More Ban king Capital Eeeded-
One Of the great needs of Savannah Is
more money for banking purposes. Al
though she has great deal more banking
capital than any other city in the state she
hasn't anywhere near enough. Several ad-
iitiUnal banks have been established within
The last year or two, but the volume OF
money is not near enough to meet the full
demands Of her business. During ths month
that ended yesterday money was very hard
O get, but not harder perhaps than in other
cities of the south, or the north either for
that matter, but the beginning of the cotton
season Is not the only time of the year that
there is an active demand for money in
savannah. 1t was once, but it will not be
again. Savannah now has an immense
business all the year around. Throughout
the months of the last summer the money
Of the banks was employed fully, and use for
4 great deal more could have been found if it
could have been had.
When the steadily increasing dry goods,
grocery, lumber, naval stores and fertilizer
businesses are taken into consideration 1t
can be readily seen why il is that Savan-
nah's banking capital is not as great as it
ought to be. The increase in the banking
capital has not kept pace with the increase
in the business of the city; and, besides.
there is a vast amount of building going on
all the time, which requires ready money,
and plenty OF it.
Although Savannah is a comparatively
rich city not great deal of the money of
her citizens is used in banking. 1t is in
vested in real estate, and mortgages and other
securities. 1t would pay larger returns.
doubtless, if employed in banking, but
the owners of the most of it are conserva-
tive, and are slow to change their invest
ments
There is another thing that must not bet
forgotten in this connection. and that is
that within comparatively recent period
a vast amount of Savannah money has
been invested in phosphate lands in Florida
and in railroads. Conservative men esti-
mate it to be as much as 81, 500, 900. That
is very large sum to be taken away from
Savannah's business capital.
All the banks in Savannah are doing a
very profitable business, and they would
continue to do that kind of business if the
number of thsm should be considerably in
creased. Is there any city in this country
in which banks earn more on their capital!
1t is doubtful If there is Aud
the demand for bank capital
is going TO be still greater. The
new railroads which are proposing to reach
the seaboard at this point, and which are
certain to be built will 40 incraaSa Savan-
nah's business and promote her growth that
more banking capital will be absolutely
necessary
1t is somewhat remarkable that men in
New York and other northern cities, hav-
ing money to invest, do not see how profit
able it would be to establish few more
banks in Savannah. They do not keep
themselves posted about Savaanah's i'm
mense and growing business, and her pros
poets for still greater prosperity, or they
would see that here they could find use
for their money that would pay them hand
somely.
What the trade bodies and business men
ought to do is to use their influence in
having more banks established A little
effort on their part might help greatly to
supply this need of Savannah for more
banking capital More ready money is
urgently demanded and must be had. 1t
can be said with certainty that If the bank
ing capital Of Savannah were increased one
half 1t would find ready use the year
round. Having several more railroads in
sight what is wanted now is several more
banks