The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1894-04-14
Your Bank Account.

In a recent issue of that well-known
magazine Trade, Mr. Wm. II. Maher has
an article under the heading "Your Bank
Account" and it is worthy of careful con-
sideration. The writer says:
1t is possible that bank accounts, because
of some recent experiences, are not quite
so universal as they were few months
ago, but at that time it could safely have
been said that every business house, be it
ever so small, had its account in the local
bank If this is not true today, it is merely
temporary thing and will soon readjust
itself to the old order
The banker expects to make his profits
out of his deposits. If he intended to lend
his own capital only he does not require
''bank for that But he offers safe
place in which ones money may be kept,
makes himself liable for its security, agrees
to honor ones check at sight, in order that
the public may deposit with him.
He is aware that having Il large number
of accounts, he may safely rely upon GER
tain proportion being called for daily, and
that beyond this he can lend the balance.
In lending this balance he makes his profit.
Running bank is expensive. There
are many books to keep, innumerable let
tiers to write, large amount of figuring to
be done. This work is crowded into the
middle of the day, must be done instantly
and accurately, as customers present them
selves, and it calls for high order of
clerks and these command good salaries.
The average man who thinks of opening
a bank account usually fiatters himself that
whatever bank he selects is thereby under
obligations to him. 1t never, by any pos
sibility, presents itself to him in any other
light, yet every bank account is by no
means pro6tably one to the bank. |
think it is entirely within reason to say
that the majority of accounts are of little
or no value, and that very goOdly share
are even undesirable.
What do you ask of your bank
First, that it will hold you safe against
burglars. Your own safe is not burglar
proof; money left in it is at the mercy of
an expert craeksman, and if you are known
to keep your cash in your store you endan-
ger your safe, your cash, and perhaps your
life. So to relieve yourself of these threat
ening evils you deposit in the bank. If it
is stolen, you expect the banker to stand
the loss.
Second, you use bank because it is con
venient to you, and it becomes your clerk
and bookkeeper Payments made by check
are carefully recorded, the checks are the
very best of vouchers, and the banker is
disinterested witness to whom you can re
fer if ever the payments are disputed
These are important advantages of which
you avail yourself when you open an ac-
count. Did it ever occur to you that you
were, in turn, under some obligations to
the bank No? | am not surprised at
your answer, for find too many who act
as if they wereof the same mind with you.
How is the bank to be paid for doing
this work for you
By deposits,
Yes by deposits-by your deposit ? |
beg Of You not to hem and haw over an
answer. The question | asked was how
the bank was to be paid for doing this work
for you. Let US keep right to that point
for you. Do you see that your average
balance is generous enough in size to cover
the expenses you cause for stationery,
books and clerical labor
1t is not enough for youto point out the
large deposit account of your bank Il is
your place to Judge if your own account is
one or not.
And you will notice am talking Of
daily balances, not daily deposits. II you
deposit s1,oO0,0oO day and check out
that much the same day you have not only
been of no benefit to the bank, but you
have caused it to do good deal Of work
at an expense to itself Your account is
not Judged BY your daily balances
You are 10 duty bound to see that these
are large enough topay the bank for doing
your work. But many depositors forget
this and seem to think that there IS no
reason, other than their own sweet wills,
why they should leave single dollar to
their credit. There are still others who
go beyond this and think they have right
TO overchcck il they see fl 70 DO So
There is no time and there are no cir
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