Mexico weekly ledger., 1897-10-07

G. F. Clark, Mexico.
J. E. Ross, Mexico.
/. M. Coons, Mexico.
E. E. Jones, Mexico.
S. B. Cook, Director of Warren Co.
Bank, Warrenton.
The meeting, which was called espec-
tally to effect a more thorough or
%ganization, was called to order at 10
O'Clock by Chairman Harris, of Full
ton. An address of welcome on be-
half of the citizens of Mexico was
delivered by Hon. Orlando Hit. 1t
was appreciated and well received.
Mr.. Hit said:
Mr.. Chairman and Gentlemen of the Bankers
Association of Missouri.
1t is said that the word bank is of
Italian origin. That when European
commerce was in it's infancy the Jews
in Italy were in the habit of assem-
bling and seating themselves on
benches in the market places of the
principal towns, for the purpose Of
loaning money and that the word bank
is derived from the Italian word bancd,
a bench. When any one of these
money lenders failed his bench was
broken, and here we have the origin
of the word bankrupt, it being a COM
pound word formed from the words
6anca, a bench, and the Latin parti-
ciple ruptum, broken, and meaning a
broken bench. take 1t, gentlemen,
that n purpose, at least, of our
organization and meeting here is to
avoid the experience of having broken
benches. In other words, to consult
with reference to matters Of interest
both to yourselves and patrons, with
the view thereby of benefiting both.
Your primary purpose in engaging
in banking is the pecuniary profit you
expect to derive from that business.
Yet, the banks of our country are in
situations essential to the prosperity
and financial welfare of society. 1t is a
recognized fact that productiveness of
human industry is greatly increased
by division of labor; that division of
labor necessitates exchange of prod
ucts, and that money is the instru-
ment used for facilitating such ex-
changes.
Here we can see how banks sub
serve the interests of the masses of
the people. The times when old
shoes, OF something of a similar char
acter, were made repositories for the
safekeeping of mans earnings are
past. There is no longer any occa-
sion for the business mans keeping
his money about him, thereby run
ming the risk of being robbed. Neither
is he, IN order to make exchanges, put
to the inconvenience of carrying his
money from place to place and count
ing out the price of everything sold
or purchased; or to the risk of loss
from accident, mistake, theft, rob-
berry, as is the case where the ex-
changes are effected by the handling
of money rather than by passing of
checks and balancing of accounts.
By the aid of banking institutions
exchanges r accomplished, not only
between individuals In the same COM
munity, but of different communities,
state and nation, in the least time, at
the least expense of labor, transporta-
ton and wear, thereby reducing the
cost of every product and thus adding
much to the prosperity of the people.
Again, banks are a great benefit as
institutions of loan. AL production IL
the result of application OF industry
to capital. But the capital and indus
try are frequently in different hands.
Now, banks are nothing more than
associations, in a business way, Of
men of capital, n purpose of the
organization being to facilitate and
make more secure loans of such CAPT
tai. In that respect the bank Is
organized for the benefit Of the capt.
yet its proper operation results
also in benefiting the laborer and pro-
Queer; for IL a merchant, mechanic or
wished to borrow money and
we had no banks, frequently much
time would be lost in finding a capital
list who had money to loan; and If the
capitalist happened to be a suspicious
it might be utterly impossible
to satisfy him that the security was
and thus q great i%nconven-
ience would be suffered by tnose who
were willing to lend, as well as by
thnse who were willing to borrow.
Besides, there are other ways, OF
1 shall not take up your time to
speak, in which banks r q benefit to
society as well as to those who hold
the stock. By reason of which facts,
gentlemen, ! will say, on behalf Of
the people of Mexico and surrounding
country, we r glad to have you
with us, and feel that you have hon
ored us by holding your meeting In
our city. The prosperous condition
of our home banks Ia one OF the best
of how our people regard
and treat such institutions.
During your stay with rs the citi-
TENS of Mexico turn over to you, as 1t
were, The keys to q city, with direc-
tions to "paint It" as you may see
proper.
Chairman Harris replied with q
neat little speech, in which he thank
ed Mexico for the hospitality Of he-
people.
A very interesting programme was
observed and the discussion Of irnpor~
tant topics was most interesting. Two
sessions were held, one in the morn
ing and one in the afternoon. AL
who attended the meeting were de-
with Mexico and our prosper
our institutions.
The hitching racks at the southeast
corner Of the Square for 80 fest each
way have been removed by City
Marshal Lane. This leaves plenty OF
- EEr--