Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-06-05

fered with the rest My employer cut
down his force and found that my ser
vices were to be dis iensed with. | aeain
tri d the b nks but could see no open
ing, and eventualyh d to go back to my
old % ace as uighi wNchman."
"But, Mr. Gage, an 7 a time YOU got
to banking again, d I'D You nor,
Yes" was the reply ut was about
year after that, that | frs, obtained
employment in Chicago tank ! re-
m mber that it was On tue sd OF Au-
gust, 1883 that | got a note from the
Merchants Loan ard Trust company,
asking me to call and see them You
see. wss known to the backs as want
ing position, and many OF them bad
my name on file as a candidate ior any
rlace that might offr Thi, was he
case with the Merchants Loan and
Trust company. called in response to
the note, and was erploved as book
keeper at $500 a year. Then little
later on became teller al 81, 200, and
then cashier. remained at that bank
for ten years and then became assistant
cashier OF the FIRST National bank, OF
which ] was president at the time | re-
ceived my APPOINTMENT as secretary OF
the treasury"
IHE BANhENo hND lie fhHMhEos
"How long have you been connected
with banks and banking, Mr.. Cages"
'In all about forty years"
you have been the president OF the
| American Banking ASSOCIATE IN. Mr. Sec
| ietary. You have been a banker all your
| ife. Now, | want TO ask YOU what is
the matter with the bankers and the far
mersi The farmers seem to think the
bankers are against them"
81 know that that idea prevails to
some extent" replied Mr.. Gage. "But
it is a great mistake. The bankers are
the friends OF the farmers. They are de-
pendent upon the farmers for their BUSH
ness. and they cannot prosper without
the farmers prosper. There is no class
more interested in the general prosperi-
| ty oil the country than the bankers. 1t
is curious thing, however, that this
| prejudice among the farmers exists not
| against Individual banks or BANKERS but
more especially against the city bankers
as class. the city banks are the same
as those OF the country, and by studying
the country bank you get good idea OF
banks everywhere. Let us look at the
foundation of such bank. First few
houses spring up at crossroads. A
general store IS established, and, per-
haps, blacksmith shop. Then more
people come; there are other stores; and
at last you have quite a collection OF
business and people But as yet there
is no bank. Every one in the commune
ty has 10 go twenty or thirty miles if he
would cash a check or borrow money.
| Every one wants bank. and at last one
OF The community. probably a thrifty
farmer, who has a few thousand dollals
ahead, opens little bank. The people
deposit with him, and are glad to patro-
nize him. There is no objection to him
or his bank. and he is looked upon as one
OF the best Institutions oil the village.
That is the situation in the country
towns today. 1t is not the individual
local bankers that the people are down
as The bankers away from home
Now tue city banks are established fol
the accommodation Of the people. just
as are the country banks, and they dc
business in the same way"
THE BANKERS AND THE FARMERS.
"How long have you been connected
with banks and banking, Mr.. Gager'
I'm all about forty years"
"You have been the preside nt OF the
i American Banking Association, Mr.. Sec
rotary. You have been banker all
your life. Now want to ask you what
is the matter with the bankers and the
farmers' The farmers seem to think The
bankers are against them"
81 know that that idea prevails to
some extent" replied Mr.. Gage. "But
it is great mistake. the bankers are
the friends OF the farmers. They are
dependent upon the farmers for their
business, and they cannot proper with
out the farmers prosper. There is no
class more interested in the general
prosperity oil the country Than the bank
ers. 1t IS curious thing, however, that
this prejudice among the farmers exists
not against Individual banks or bankers,
but more especially against the city
bankers as class The city banks are
the same as those of the country, and by
studying the country bank you get a
good idea OF banks everywhere. Let us
look at the foundation OF such bank.
First few houses spring up at cross
roads. A general store Is established,
and. perhaps. blacksmith shop. Then
more people come, there are other
stores. aud at last you have quite col
lection of business and people. But as
yet there is no bank, Every one in the
community has to go twenty or thirty
miles II he would cash a check or bor-
row money. Every one wants bank
and at last one OF the community. prob
ably thrifty farmer, who has few
thousand dollars ahead, opens little
bank. The people deposit with him,
and are glad to patrolize him. There
is no objection 10 him or his bank, and
he is Looked upon as one of the best in
stitulions Of the village. That is the sit
uation in the country towns today. II
is not the individual local bankers that
the people are down upon 1t is the in
definite class known as the bankers
away from home. Now the city banks
are established for the accommodation
OF the people, just as are the country
banks. and they do business in the same
way"
INTEREST RATES AND UsuRY.
Chow about interest rates, Mr.. Score
tary1 Do you think they will riser"
Elbow can tell" replied the Score
tarv Of the Treasury. III times are good
and many people want money the inter.
est rates will probably so up. II no one
wants it they will probably fall Money
is like anything else. 1t is affected by
the supply and demand"
How about usury, Mr.. Secretary? Do
you think ii advisable that the interest
rates for money should be regulated by
la~f'
| shy~ ,ta.pt xani;aJ tha C.-~o,....