Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-07-20

has said with reference 10 the solidiiy
and strength Of our local financial
HOUSES; and nothing more would seem
to be necessary 70 calm any feel
ing Of insecurity or dis'fu'i
that may have been ongeudered
by the reports Of runs ami panics m
other parts OF the country. Every
one Of the statements carries ils own
evidence that not only are all the re-.
quirements Of the national banking
law complied with NJ TO the percentage
Of deposits on hand, but that an amount
two or three times az great as the
statute call for spfulenlly ana volun'
tarily held at command. surely ihls
should stimulate the confidence u the
business community and give proof OF
relief whenever puplio calmness VIII
Justify IL. We doubt n a mo splen'
did showing was ever made In cvt u
the best o. times, anu we venture 20 say
tbatf few Of the cities VI the country with
IN equal number Of banks can render
statement nearly 40 favorable. AMI
when to all this IL added the assurance
that the other Institutions Of like char.
acter, state, savings and private, are In
the same excellent condition, our citi'
Gems have Just cause for satisfaction
without buncombe aud for complacuucy
without Indifference.
Asa general proposition II may be-
said that the great majority Of financial
panlcs are brought on by the people
Themselves. With singular pufyersity
they cause the very trouble
they are most anxious to avoid.
That they are the chief sufferers seems
not 10 enter their calculations u ALL
Excited by some stupid, bnselcss street
fumor, they throw away In a moment
all confidence In the trusted aud re-
sponsible men whose names and
fortunes are pledged 10 preserve their
honor aud aro u guaranty Of integrity
aud financial strength wherever
known. They want their money, anu
having obtained II, they hug Il
huniedly to their bosom', cart 1t
home, aud fondly Imagine they
nave made themselves safe. Ihpt
this IL thoughtIessness and folly
eau easily be shown. Money
In tbs bank, we speak now Of
savings deposits, draws regular anu
comfortable interest. II In order to
make II earn this interes, the bank
loans out the money, 1t receives abuu-
dant security. hut this security, II
the very worst should happen, Il not
tho only security the owner
Of the money has. He has the
bank itself, with IL vast creii, aud
standing, to make him still safer. And
besides oil that, hc has the officers Of
the institution themselves, each one oil
whom Is by law compelled to become
good for an extra amount
exactly equal to the amount Of stock
he holds. Where there IA no charge
or tuspicion Of dishonesty or imbc.
cllity In the bank management, could
anything bo moro absolutely guaran.
teed than this? We should think not;
and set nervous people, ns we have
said, sometimes think their money IL
In danger until they get II In their own
hands. They forego the Interest 1t
would have earned, they invite the
rick OF loss, destruction AMI theft, they
add to their own anxiety, set an OK
ample OF silly excitement, leopard he
their frlends' interests, and do III they
can TO destroy the community's credit.
The NEWS, having the welfare Of
all Its readers and Of the couu.
try ut heart, cannot too strongly
insist that tho money Of every
deposltor In the banks here Ia ten
times safer whore It IL than In any
other place where such deposilor can
put II. Such funds as he may need 10
Draw In order TO meet current ex.
penses and In the order Of regular
business, let him draw withou, feserva.
ton. hut to draw one dollar because
he thinks II Ia unsafe Is folly and
shortslghledness OF the most colossal
kind.