New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-04-30
DOLLARS AND CENTS.
4 Useful Book for the Budding
Bank Clerk.

THE MODERN BANK. BY Amos Kidder FlsKe'
a N Svo. XII. 84s. d. Appleton CO.
In this little treatise we have an interesting
and in many respects useful addition TO the eA-
ceIlent Business Series issued by the Apple-
tons Mr. F1ske has not attempted any eiao-
r,ta discussion OF his subject combining himself
chiefly to an exposition Of the functions ana
methods of the present day bank as typlIeu Ny
q large financial institution In New-hork' AHe
main study is preceded by some chapters oii
..s+ ,,inc,r1es whereby the student is assisted
70 q clearer understanding Of the foundations
unon which banking rests. Of its evolution from
,ba ,orios of the individual money lender. and
. a.. ,,,,,,or.ance to the material welfare of the
country. Following the survey Of the operations
ne the typical American bank comes raplu
summary Of the banking systems OF other couh-
tries a summary in which the writer delVes oliiy
deem enough to afford basis Tor coIlpaI lSo49'
The volume in short is elucidatory' ra'neI
critical although IL is true that to"aIu 'i0
close we note some apt comments on eAl9li-ie
conditions. combined with an outline OF wha' III
Mr. Fishes opinion should be done to rehoeF 'i'e
bank more valuable TO the community se
and to the country at large
His work should be particularly useful to the
Young man DESTROYS OF entering on DahAIis
career for the technical details Of management
,,5 onaration are elaborated with painstaklhg
oora In +urn Mr.. Fiske discusses the duties Oh
every official of the bank, from president 10
,,,eseanrer. interpolating facsimiles OF oanK
forms. statements and docun-e nts that go lar 70
facilitate ready comprehension OF the text
Such more or less puzzling themes as cFeui'
currency - drafts rates Of exchange loans
NJ, collateral" discount" "stringency' HIei-
national banking" and foreign exchange are
lucidlv expounded. The operations OF the cleaF-
ing house are detailed, and we find carelu4
s+s+a,,,an+ of the law relating to national banks
and Of the precautions taken to secure ana pre-
servo the integrity OF the bank and to prctect
~, interests Of those having relations with It
NJ F7is5e notes the fact that a certain amount
of 1axitv prevails in regard to the Observance
Of the law. Reference is thus made to over
car+ifcation": National banks are forbidden
bv law to certify for larger amount than
stands to the credit Of the drawer. but IN prac-
tice the rule IS somewhat relaxed IN FAVOR OF
good and Trustworthy customers. and the excess
&c treated as a temporary loan" OF the law II
self he has much TO say. making II clear lhaI
he should prefer to see the existing system re-
r1ace5 nv one modelled on the lines prevailing In
Canada-large banks with many branches. IN
stead Of a multiplicity of independent institu-
tons He also appears to be convinced that as
the years pass. there viii be an ever increasing
tendency in this direction, together with
stronger sentiment ''in favor Of making govern
nent currency the issue Of the government alone
and based wholly upon CON- and gradually 10
permit the banks to have currency confined 10
the circle Of their operations and based upon
their credit" This Will, Of course, prove to the
fnancier the most interesting portion OF the
treatise, since all else is mainly discussion OF
purely routine" matters, endeavor well &C
carnplished. TO tell what the bank does and
how il does il,