The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-06

And still. Mr.. Gage, you once worked
for S. a month. 1 should think 1t would be
hard for a person who had worked for so
little to become used to handling so much. =
Il suppose l came 10 it gradually" re-
piled the secretary of the treasury. Il can
tell you, however, of a time when l was
really scared by having what seemed a big
sum of money on hand. 1t was when l
was a boy and had just received my first
wages 1 worked for a fruit vendor in a
little corner store at Rome, n. Y. We sold
oranges, apples, pears, ginger ale, peanuts
and Graffenburg pills. The hours We're
from early in the morning until 10 at night,
and my wages were S. a month. 1t was
about 1920 o'clock the last Saturday night
of the first month when my employer paid
me my first S.. The money was in halves
and quarters, and each of those half dol
lars seemed as big dinner plate.
was a small boy then and the sum filled
my hand l was afraid / should lose it,
and ran all the way home, hoping to get
there before my mother had gone to bed
and show it to her."
A GREAT BANKERS START.
Ibid you work long for such wages" L
asked
Yes" replied Mr.. Gage. IT worked for
several years for from IS to s. month. L
was employed in the postoffice at 500 a
year. Then d bank was started in our lit
tie town. 1t was known as the Oneida Cen
trail Bank. The cashier received $l2OO a
year, the teller $500, and I got a place as
messenger at 500 a year. l had to sweep
out the bank. make the fires and run err
rands, as well as do other things. After
had worked for the bank year and half
to- a
learned to keep some of the books. 1 was
in my twentieth year, and l thought that L
ought to have more pay. The cashier said
he would refer the matter to the directors.
He did so, and the next day he told me that
the directors had said that the times were
hard and that they could not afford to IN
crease their expenses, but if l waited for
a few years a vacancy might occur and L
could be the teller at a salary of $500. Upon
that I decided to leave. Had they offered
me $50 a year should have stayed, but as
If was I concluded to go West and try my
luck in Chicago"
What did you do in Chicago?
ssI first tried to get a place in bank,
was the reply ''but there were no vacan-
cies. I had to do something and l took
the first JOB that offered. This was IN a
lumber yard l did all sorts of work there
measured lumber fed the circular saw
and now and then drove team of mules.
I did not get much pay, but 1T was enough
TO keep me until something better turned
I'D. After a time / became night watch
man in the lumber yard, and then was pro-
NOTED to be bookkeeper. [ was Keeping
the books when the panic of 1851 came on
The times then were a great deal worse
than they are now, and the lumber men
suffered with the rest. Ny employer cut
down his force and found that my services
were to be dispensed with. 1 again tried
the banks, but could see no opening ana
eventually had to go back to my old place
as night Waterman"
but, Mr. Gage, after a time you got 10
banking again, did you not?"
yes" was the reply. 1T was about
wear after that that L first obtained en-
ployment in a Chicago bank. 1 remember
that it was on the Sd of August, 1884, that
got a note from the Merchants Loan and
Trust Company asking me to call and see
them. You see was known to the banks
as wanting a position, and many or them
had NV name on file as candidate for any
Mace that might offer. This was the case
with the Merchants Loan and Trust Com
| panv. l called in response to the note ana
was employed as bookkeeper at SOU year.
11hen q little later on 1 became teller at
| 81 2oo and then cashier 1 remained at that
| hank for ten years and then became as
| sistant cashier of the First National Bank,
of which l was president at the time
| received my appointment as secretary OF
the treasury.
BANKERS AND FARMERS.
GLOW long have you been connected with
| banks and banking, Mr.. Gage!
I'm all, about forty years
..You have been the president Of the
| American Banking Association, Mr.. Secre-
tary You have been banker all your
! life. Now, 1 want to ask you what is the
matter with the bankers and the farmers
The farmers seem to think the bankers are
against them"
IT 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 prosper without the farmers pros
per. There is no class more interested in
the general prosperity of the country thar
the bankers 1t is a curious thing, how
ever that this prejudice among the farmers
exists not against individual banks or bank
| OAt|
! bankers as a class. The city banks are the
same as those Of the country, and by study
! ing the country bank you get q good idea
of banks everywhere. Let US look at the
foundation of such bank. First a few
| houses spring up at a. crossroads. genera
store is established, and perhaps, black
smith shop. Then more people come, there
are other stores, and at last you have quite
| a collection of businesses and people. But
as yet there is no bank. Every one in the
| community has to go twenty or thirty miles
| if he would cash check or borrow money
Every one wants a bank, and at last one
of the community, probably thrifty farm.
| err, who has few thousand dollars ahead
opens a little bank. The people deposit
with him and are glad to patronize him
| There is no objection to him or his bank
and he is looked upon one of the best
institutions of the village. That is the sit.
uation in the country towns to-day. 1t is
not the individual local bankers that the
people are down upon. 1t is the indefinite
| 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 dc
| business in the same way
INTEREST RATES AND USURY.
How about interest rates Mr. Score.