The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-06-29

/ ASSIiolS, uiSCOuiltS dHQ correspondence, duQ-
ed to natural capacity, will make a finished
banker, capable, as opportunity may develop
him, of rising to be the trusted handler OF
begin learning mis- business from the day he
enters bank. and go on learning 1t daily
until he dies During the first few months.
what Is legal due diligence in handling COL
lect-ons and casaing checks; what is a cor
rect Endorsement on a negotiable instrument;
the various reasons for which checks are
returned who In the community pay their
pills promptly; who do not; who draw checks
ior winch there are no funds, whose uncer-
uned checks on other banks may be safely
accepted and the documents surrendered; and
many other things, too numerous to mem
are many things which if not learned young
are never learned. AS the young man pro-
crosses he VIII master the entire system Of
bookkeeping and correspondence. He will in
vent new and easier methods of his own, for
no one with the right stuff in him is ever
ply because they have always been done be-
fore 1t is astonishing how much needless
| MAKING OF entries may be avoided by study.
Cnecks in some banks are entered three
tines in different places before they are re-
turned turned to the customer. in others about
one case in the other and / am not sure
put that all entries more than two are super
s saSt our young man must above all things
That is what kills the ambition and curtails
the career OF the majority. To help him to
resist resist this insiduous temptation he should
study subjects connected with his profess
SION, ana thus keep his mind fresh and we'll
stored AS suggestive of what studies will
pest help him. | would recommend tho pre-
ScrlDed by the Institute of Bankers in Scot
land. for the examination which must be
passed by its members. For the degree of
]ects: Geography, algebra, arithmetic Eng
Esh composition bookkeeping, bank books.
r exchange ge. and clearing house system and
rules, note circulation, interest and charges
ASSOtldClOQ OF DliS and checks nd h -forv
OF banking. For the higher degree of Mem.
per .he subjects are more formidable. viz
stock exchange transactions, history and
pFfihIclpies OF banking and currency pr nciples
tile law OF a conYfeybaneing bankruptcy mercan
dition to these examinations lectures are at
senaea ana prizes given for essays All the
upon their clerks who pass the two examine
IONS by paying them bonus of five pounds
t ass ~ Old ponnda respectively The benefits OF
us ex-secretary: 1T helps to employ the
leisure time of young bankers at the i'm.
P Portant period when their career in life 10
beginning; it indoctrinates them in the prin-
clpies OF their profession and the rules
winch guide its practice; it confers en- thsm
thpio the value Of which is recognized by
eneir cHle1s; IRON being unknown 1t makes |
an employe known, and thus opens for him
PARKWAY to distinction; it teaches habits Of
yeo oy a 1aaent love OF knowledge and it de-
rSlots latent talents of which their owners
might never have been conscious When
i'oo tnat about two hundred and iftv voune
men annually present Themselves for tbase
examinations, does not this 90 long wav
towards accounting for the position in the
Hats h Of the world held by the sons Of that
can banking when a similar institut. IN 10 |
s'srted IN our own country VA "
tool Inc most striking characteristic of Amer
ican banking at the present moment 10 the
UNIVERSAL tendency to smaller profits MOI
only is money getting cheaper but comratj.
lion Is SO Keen that the temptation to gain
Fo~
700 strong for many bankers This tenSencS
VIII help to hasten the day of the trained
PROFESSIONAL banker in preference to the ANA
s seul VINO spent the best part of his life at
something else. For while the natnrai
shrewdness Of the successful American husi-
ness man Is frequently enough to make the
so rar as making safe loans goes the $500,
is always at disadvantage when IT comes 70
p r to be made in domestic or foreign ex
change, or the scientific study of indiyidma,
| accounts for the purpose of ascertainino thair
vaiue or loss to the bank. AS the rates of
discount are reduced these other matters must
maze in the business. The 1nrosession.I
Danker Is seldom inclined to do business for
t tne Iun or glory of 1t. He studies his Gus
toners accounts and treats them in ,natte~.
OF charges as they are fairly entitled 10 he
treated. While some are entitled to free eyo
cnange, general par list, as adopted hvvI
accounts not only prof1tless hit fte nr sH,1
GERS OF an actual loss. And besides. II is re-
spons,Dte lot the abominable System of send
ing checks for collection through circuitous
routes. Sometimes they thus pass tbrnY,eh
SIX or eight banks, and / nave known IN
stances stance. or checks passing through Chicago
payment 10 'nuoi
IN London, where interest rates are 50 fine
~ ,y,. cut. the banks, as a rule. charge com.
iuissioii ON the entire annual turnover oP an
account. Wherever the business Of hanL.nn
mas ma been brought to its highest state of per
s stiffssa' there you will find the banks the
ing day in London interviewing varion.
Danks trying to induce them to accent a
sooa account on better terms than the hank
maze where the account was kent In teuarn
case the answer was the same. was co,r
teously but firmly told that these terms Uera
the lowest the business could be done IN with
che anu t II had no other reason for
where it was. ~ ieaVe II
| have in mind large bank in a certain
city, let us say on the yukon river Will,
charges off debit balance of about az Snt 0oa
per year at exchange account Comparino
slls oanks business with two others in the
known ot ~ rn whose profits in exchange are
$s5 OOO per year. This makes differenca of os
S cent Up, per annum, which would pay per
IT may be asked, does not the bank in , ~
uon gain as much in profitable denos,,s h,,
cham ehanea etoeral treatment as it loses in ex
1 5anhS useo Tor comparison have increased In
ueposlts IN recent years faster than tha nna
ton ao oe t notwithstanding the determine
nothn a 'ngtr =, managers not to do business for
~ enttns; II Is almost needless to add mat
lne Dank refer to has a managing ofp .ar
S haI was getting old before he became a
VINO have been bankers since thav 49, ny , n,eh
Inc one thing above all Others which h, in.
aot r.onh 10 get profitable deposits is it's renu,
Tic mn n1r COCO manags ment of its assets.
Inc most important asset OF any hani- end
the criterion Of the condition of ali the r Gu
LIE 10 lne mecdal and moral equipment of its
man slng oIcers. Doing busine-s for nothing
may seem to succeed for a time hui such
| Iocseness OF management doss not Greats q
permanent reputation, and in time ganeraIIv
the profits. "eii % III
II banking be worthy the name of q pro
ress12n there should be Ger ain things mi
vers versa Censored unprofe sional within our
ranks, Giving services without profit or at
ar actual loss should he unprofessional So.
/ hc1tat1ens of business by Offering to w RI
mere M re-, ceeapiy should be as unworthy banker
as we consider 1t unwOr by doctor Refe,.
| lions on the character or solvency of com
| petitor should be, and am SIRE. jIv
t ere, CONSIDERED IN the same category and
thlnk borrowing from ONES own bank SHE uld
| be ADDED to the list. The positive uuaIifca
tons for good banker are not of the bril-
| liant snowy kind. But they must he or
! the solid, enduring kind. He is thu trusted
| agent between the poor lender and the rich
borrower. His responsibilities are of sac-ed
helpless widow or orphan having their little
| all swept away from them. The. business
prosperity ard the busi-ess character OF any
| community is largely in his Keeping Rad
| banking viii bring ruin, careless banking will
| breed Loose business methods in an entire
community. Success as banker is within the
| reach of any man Of average ability fair edu-
cation and high character, who, possessing
the natural talents of shrewdness and dis
erection, adds to them. by persistent effort
! familiarity with accounts, wide knowledg, OF
general business, special training in banking,
! some acquaintance with commercial law eX,
perience in analysing stat ments, correct