The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1893-06-23
A SENSIBLE ARGUMENT,
Bank Failures and Some Lessons Which
They Suggest.
EDITOR HERALD.

remembered 10y many Middle Ten
nesseeans AS season during which
closed bank doors, sorrOwing credi
torr, aud much discussion of The STU.
alton berame familiar features of the
tlmes. The amount OF sympathy
from those whose personal interests
were not involved, has apparently
DOT been great. They have usually
spoken cheerfully of the failures, and
some have rallied the victims with
levlty that was scarcely bec1m n
appreciated. The most noti, ,ble
sympathy, perhaps, was that which,
III an instance, manifested itself b , a
grand floral Offering as a delicate
Testimony, and the more substantial
aud available one of large sum OF
money to sustain prominent official
whose standing Was in peril.
Financial failures have their
pathetic side, as when moderate sums
Of money have been accumulated by
u systematic course Of toll aud sell-
denial, ia which luxuries were es.
chewed and comforts fOregOn., in
order To provide for the future of the
Individual or dependents when the
ihhrmities of increasing years should
forbid activity In earning daily bre ld--
only to be eDgulied i'll the swirling
maelstrOm OI u failing bank.
Whether such Disasters are owing
10 tue stress OF unforeseen or unavOid-
able difficulties in the financial world
which the uninitiaied do not cOlnpre-
hend, or to the incompetence or dis
honesty of officials, the result is the
same 10 the private victim.
Such crises are crucial test of
character in responsible circles.
There are two classes OF bankrupts
who ln0uopolize large proportion
OF public attention ut such times,
those who do their duty without the
spur OF the law or Of popular opinion,
aud those who shirk duty in the
easiest accessible way.
There is the man Of integrity whose
greatest error has been the misplace
ment of his confidence. The betray-
al OF his trust by interruptions or
designing men resulted in his in OIL
vency. but he has unhesitatingly sacri.
feed hls estate To The cancellation OF
his Liabilities 30 lar As it will answer
that purpose. He has not 10 felted
mis- good name, and is entitled 10 con.
tinued esteem and genuine sym
pathy.
| On the other hand, how does public
opinion rate the hlghwSyman who
deliberately rObs a defenseless person
OF small savings iabOriously earned?
What is the difference between sucn
an example ana that OF man in diff
| - yl,.N
number of such LeOple of their
means Of living? The law, with
money to direct 1t, may propose a
dis tinctiOn, but what is the differ
ence? The Impoverished creditors
are left 10 starve or resume course
OF toll ami privation while the de-
fsulter continues his previous course
80 far as it is practicable, only exert
ing himself to evade punishment,
MAINTAIN show Of integrity, a good
living, aud q high, social position.
Can there exist an iOta OF nobility H.
the character Of an able-bUdled man
who can, with pQrlo,ned purse, in
dulge in luXuries at the expense Of
: over-worked men, feeble women and
dependent children whom he wOJlu
| NlbNoih W ANNbE tf1N SDNiSN'iJ "CiO hN
accidentally 10 enCOGllter them?
The only honorable course open t.
the bankrupt whose failure ha
ruined or damaged others, Is to MAKE
all the restitution il his power by
surrendering his available means,
and if physically ana mentally able
for active service, to consecrate hls
= life by untlagging industry aud strict
; economy to the same object until il
be accomplished, Withholding only
what is essential to the maiutainance
OF himself and dependents. How
many are ready TO pIove their up
5 rightness by such course?
The creditors demand only justice,
natural aud reasonable claim.
Their legitimate rights have passed
out of their reach. Those rights are
not where they belong; they must be
where they do not belong. The law
appears inadequate to the task OF dis
6 covering and restoring them, or
melting out punishment to the de-.
E faulter wherever there has been de-
;, liuquency. Why is the highway
man hunted down aud punished, and
the petty thief arrested, Imprisoned
aud compelled to perform severe la
Dor, while the brOIDer rogue OF finer
, mould and superior address, escapes
: If, however, material redress is un-
= attaiuable, perhaps compensation OF
u different nature may be reached
, and If the occasion is improved to
. that end, incredible as it may seem
: at fl rst, it is notimpOssible that the
profit will eventually exceed the
loss. With that object in view, you
who have been desIOiled may draw
= useful lessons from the results ot
: what now appears to have been q
mistake ON your part Do not linger
to bemoan the past; 1t cannot be re-
l. called, and prolonged regret units
!. one for action. EDdeavOr to dis
l. pense, philosOphically, with the
Il missing treasure which you cannot
/ recover. Accept the situation and
! make the best of it. Without some
!. incentive in life, existence Is bur
den. Shake off the Incubus OF dis
, appointment and begin again. Your
recently purchased experience viii
aid YOU in the future. Then remem
ber that you are building charaeIe
/ for eternity, and experience develops
character. Ibdepe ldeIce OF the mean