Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-09

Taking into account every consideration
which Affects the welfare Of the general
public, 1t IL to be regretted that all the In
corporated banking institutions In the city
do not Join the association of our local
financial examinations. which has been
formed for mutual support and to protect
the business interests and their customers
of the city at large 1t il understood that
the reasons assigned for their course by
the management OF the banks which de-
cline to enter into the arrangement II that
they are strong enough to stand any de-
mands that may be made upon them by
their depositors. and that, therefore. they
do not need that material or moral aid
which comes from combined resources and
unity Of action.
This In probably true. 1t Is to be hoped
that It Is. 1t Il likely. however. that at
least some Of the banks already In the or
ganization could stand a vigorous and pro-
tracted siege quite as successfully as those
that decline to go in. 1t Is possible, also,
that a condition Of things might arise In
the history Of these particular corporations
which would make that support which can
only exist In a strong union Of interests
acceptable to them. and even necessary.
1t Is not always the most confident man
who holds out longest There are sometimes
forces at work and contingencies likely to
arise Of which he knows nothing and thinks
little
But, conceding In the fullest degree all
that II claimed by the management Of the
withholding institutions, IL not the posi-
ton they have taken In this matter an in
excusabiy narrow and selfish one? Do they
not owe something to the public at large.
as well as to the comparatively insignih-
cant interests they represent? Is there
nothing to be considered but their own in
dividua1 cases? Next to the outbreak Of q
fagration. like those which Frustrated Port
land. Chicago and Boston. about the most
dreadful calamity that can befall any
community Is general financial
panic. Yet what would be thought Of
man who would refuse to c.sc III keeping
out a dangerous infectious disease because
he considered his own individual health
robust, and regarded his immediate per-
sonal surroundings In good sanitary condi-
toni Or, in what esteem would q man De
held by his neighbors who would not do all
In his power to prevent or subdue q dlsas-
trous fire, because he fought his own prop
erty was located IN q direction which the
flames would probably not follow after they
were well under way?
The cases are precisely analogous. The
effects Of q panic are sometimes even more
widespread and quite IS disastrous As those
Of an epidemic or a great fire, though, Of
their consequences in individual instances.
It II to be borne Ia mind. moreover. that the
banks already in the association are not
necessarily nor presumably there because
they are weak. It Is well known on the
other hand that they are In uncommonly
good condition. and that the organization
was formed not as an evidence Of weakness
but simply a. . precautionary measure. and
to secure and give to the community assur-
ance Of the strength which follows united
action and q combination Of resources in
q good cause Would Ii be strange, there
fore, II those IN the organization should be
regarded as actually stronger and have less
to fear than those outside Of It? The old In
dian chief. 1t win be remembered demon
stratsd the value Of union to the assembled
representatives Of different tribes In council
by showing them that while twenty fagots
might easily be broken when taken singly,
II was impossible to make any impression
on 20 few As ten when bound firmly to-
gether.