The Columbus journal., 1898-09-28

the immediate establishment OF postal
savings system. / would also make the
United States q guarantee for the de-
posits in National banks. To secure
tho Government against loss q general
fund would be created by q
nominal tar against all banks. The loss
to depositors by National banks since
the creation Of the system has been less
than per cent OF the present capital
stock OF the banks OF our country. The
same small tax would pay all probable
loesee to depoeitors for generation. 1t
would be Insignificant compared to the
benefits. It would drive out OF bust
nees the old stocking bureau drawer,
cellar banking. 1t would injure the
safety deposit business but in return for
these endurable calamitics (?) We would
have an era Of confidence that would
prevent panics and throw into the chan
nels OF active business the entire volume
OF our money instead OF lees than hal!,
as now. or course, strict Governmental
inspection would be necessary. This
should be required under any system.
1t is not the Law that is at fault in ma.
tlonal banking. but its enforcement.
From my Investigation am convinced
that every bank that suspended in 1898
in the West could charge their disaster
to the violation Of the laws and instruc-
tiOns OF the Treasury Department.
Hereafter more respect will be paid the
law. Membership in the same church
or the same poker club will not Justify
large Overdrafts OF excess loans on
spiritual collateral s6r second or third
equities in jack rabbit additions. The
day has past when the banker can be
the hacker and indoreer of every Wild
cat enterprise. The depositor will now
hold him responsih1ei0k his investments
as we'll as his sAeer. Like the
preacher. his life must be above sus-
picion. He cannot play the part OF the
English aristocracy to the schemes Of
Ho0ley. He cannot coquette with the
banks whose name recalls the ancient
ruler OF Egypt. nor indulge in the 0thee
questionable amusements OF the electric
hours. He must be a gentleman, but he
cannot b9 an all-round sport and good
fellow and retain confidence.
QUALIFICATIONS OF BANKERS.
''Intelligent selishness is a necessary
quality in banking. When you sec
banker who is uneelfish. who is booming
every public enterprise. who is gener-
ous. liberal. everybody s. friend sort Of
man, take my advice and put your mon
ey in some other bank. Tho. ancient
bank of st. George, ut Genoa, is the
only bank in history that has been able,
without disaster, to meddle in all Affairs,
to manage everything from bakery to
political caucus; from the building OF
monasteries to the eqnipping Of an army.
"The community expects high
standard in its bankers. So far reach
ing and disastrous are the results Of bad
banking that the people are justified in
demanding that those who hold their
funds shall he men Of integrity and
character. BY its very nature bank is
public institution different from all
other commercial and industrial con-
Germs. A private bank is a misnOmer.
and ought not to be permitted by the
law.
I'm the record Of this association /.
notice that you have established q
'bureau of education, to educate people
as to what is the true character and
operation of banks As there is a wide
spread idea that banks profit when
others suffer it might be we'll to let the
people know that no other suffers SO
much from hard times as the banker,
and panic is period OF agony and dis
aster to him-aside from this.
BANKERS AND EDITORS.
II fear You are too sensitive to criti-
cism. A know banker is valuable
weapon in the denunciatory arsenal Of
the political orator, and is used instead
OF MephistOpheles as text by the cam
paign editor, but you know they do not
mean half they say or write. 1t is like
the measles or mumps, unpleasant but
not serious. When we come to call up
on you for an accommodation or sell
yOn book or get a subscription We al
ways take off our hat. In fact, in per-
sOnal contact the community shows so
much Difference to the bankers that the
political editor and orator may he necee-
sary as a counter irritant, to keep them
from setting themselves upon too high a
pedestal. SOu might, IL all sang yOur
praise, he emulating the Pilgrim fathers,
who met and passed the following resO-
lutions: Resolved, "Tbat the righteous
shall inherit the earth: resolved, that
We are the righteous"
'The saints OF old thought that peb-
bles in the shOe and hair shirt were
necessary to keep the wicked desires of
men in eubjection. Perhaps it is the
divine intention that in place of the hair
shirt and pebbles the Popnlist resolu-
tion and the Shylock caricature are to
be the agencies that are to keep you
humble and contrite.
1T is no doubt the Christian and
benevolent design Of the Populist to
cruelty and mortify the proud spirit OF
the banker SO that he will feel so lowly
and small that he may easily pass
through that Biblical symbol Of the
rich mans gateway to paradisc-the
needles eye.
"In conclusion, We welcome you to
our homes and cities. meet our people,
go into the mining camps and see from
whence comes the gold and silver-the
only safe basis for trne monetary sys-
tenn.