Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1902-08-01
The following, from the pen of Chas,

"a. CldIh, VI EQUAL 1sdpAOo, AOWd,
gives many suggestions as to the true
status of the banker, as a CONSERVATION
of credit in. the business world. It
contains so much good common sen 9
that we wish to give our readers the
benefit hereof 'sThe mission of banks
and bankers in nicely calculating the
amounts which they may keep in
general circulation for, business pnr-
poses through loans and credits, with
out imparing the safety and solvency
of the banking system, it is thus n
of the highest moment, and of the
greatest value to the people and the
public. It requires large experience,
sound Judgment, honestly and act of
the highest order and of inflexible type.
"And hence result business method
of promptness and exactness which
are perhaps the most fruitful source
of prejudices and complaints and spites
against the bank. The banks are pub
lie missionaries and educators Of a
most important type, reaching and
compelling the most rigid, exact and
prompt honesty in business methods
and transactions, but this brings them
excavations rather than blessings.
Thus it happens that hostility is wide
spread against banks and bankers, and
whenever litigation take them before
a jury they are practically certain to
be beaten, no matter how plain their
rights may be. Why should this
widespread and causeless prejudice
exist2 It comes very largely, if not
altogether, from the promptness in
meeting all obligations which bank
ing methods require.
"The average man who owes the
bank a note for one hundred dollars,
knows that in common honesty he can-
not pay it with ninety-eight dollars.
But the same mar never can be made
to see that if by it's terms he has but
thirty days in which to pay the same
note, the same common honesty re-
quires him to pay in thirty days, as
he has agreed instead of taking forty
days, or such intended time as suits
his convenience in which to redeem
his. word solemnly pledged for a fixed
date. For centuries in legal, com
mercial and banking parlance, a note
or acceptance not paid the day it is
due, is dishonored paper. The law
looks upon it with suspicion, and
says to the purchasers, ''touch it at
your peril Can the paper be thus
dishonored and tainted, and no dis
honor attach to its maker? There
can be but one answer to this question
in the forum of law or morals. None
the less the maker feels oppressed and
harrassed becaue honesty as to time o.
payment is required by the bank, anc
thinks that this is conscienceless as,
sertion of domination and power from
mere instinct of oppression, rather
than the necessary detail of a system
which must be maintained for the com
mon good, just as much as for the
good Of the banks; and that if that
man ever gets a chance at the banker
on a jury, his verdict may be easily
foretold.
But look fairly at the situation.
The bank must promptly and literally
meet it's obligations. Whenever the
deposition calls for his money he must
be paid in full. When patrons en-.
gagged in business require temporary
loans. on ~undoubted security, the banl
must be prepared to give the needed
accommodation and assistance. If il
carries large amounts Of dishonored
and long past due paper, no patro1
who knows this will think the bank
a safe institution. How ridiculous
then, is the popular notion that it il
the greed and avarice and arrogance
of the "money power" which demands
and compels the payment of obliga
tions to banks on the day when the,
fall due! 1t is simply the people
themselves who are the depositors