The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-08-09
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SOME SIMPLE TRUTHS.

There are some plain truths which need
comprehend them, but put them into
practice. One of these is the necessity of
circulating the money that has been re-
tired.
These remarks are intended for resi-
dents OF this city and territory. Many of
them are taking the course which, in
other parts of the country, has brought
about financial failures and great bust
ness prostration, with accompanying
lack of employment and conseqent dis
tress. That is, they are boarding instead
OF using what money they have at their
disposal.
In spite of all that has been said on this
subject, there are large sums of money
locked up in safety vaults which ought
to be deposited with the banks. Also in
Vulnerable smaller amounts hid away for
fear of time of need. Some OF the
hoarders understand the effect of this;
others may not. It is necessary to stir
up both classes little for the benefit of
all.
If our banking institutions were I'M
safe; if they were in danger of collapse to
the loss OF depositors, there might be
some prudence in these Withdrawals of
money and placing them in greater Sc
curity. And even in that case the drain
upon their resources would tend to bring
about the very evil feared. But there is
no such cause for alarm, and the only
effects Of this exchange of places of de-
posit are the rendering useless of the
funds so hidup, and the general strin-
gency in money matters OF which every
body complains.
Money cannot be borrowed now on the
very best OF security. Why? Because
the banks fear increased calls from de-
positors and, therefore, retain the funds
in hand to meet them if they come. If
the cash now locked up were placed back
on deposit loans could be made, business
would revive, enterprises would be set in
motion, buildings would be erected, labor
would be employed and everybody would
feel the good effects in very short.time.
The needful money is here. The Mason
why collections cannot be made when
bills are presented is not because there is
little money in the city; it is because a
great deal of it is locked up doing The
owner no good and Withholding that
which is needful for circulation to keep
the body polite in financial health.
Take your cash out of hiding, friends;
invest it in some safe enterprise, or de-
post it in safe bank. The savings banks
give profitable rate of interest, COM
pounded periodically. Is il not to your
advantage to have your money in use for
your own profit as well as the good of the
community?
1 Even ii you simply deposit it on call,
to use as you need it and receive no in
terest, it will be doing good, by enabling
the banks TO transact business in such a
way that money can be obtained for use
where il will make profits, and you will
lose nothing, but will share in the COM
mon good that comes to all when "money
is easy. -
J Even now Salt Lake city, is in better
and more prosperous condition as a whole
than any city of its numbers in the coun-
try. If the cash now locked up were put
back into circulation this city would
vastly and rapidly improve and would
, have still better reputation throughout
the land. 1t would be the banner city O.
the United States. 1t would attract cap.
ital as safe place for Investment, anc
, the growing reputation OF its people fol
calmness, confidence, good sense and bus
, mess ability would become worldwide.