Clarke courier. [volume] (Berryville, Va.) 1869-1997, 1907-12-18
LOOSEN UP.

Reports from the banks in
smaller cities and towns in Vir-
ginia show that they fortified them
selves carefully against any posi-
BILE consequences of the recent
financial disturbance. They have
on hand from thirty to fifty per
cent of their total deposits in cur
rency or amounts due by other
banks Immediately available. In
this they have followed the example
of the banks in the larger cities.
The wisdom of their course is very
doubtful. OF course each man is
supposed to know his own business
best. but the whole matter, so far
as Virginia is concerned, looks to
US like an unnecessary scare. 1t
was just the kind of feeling of
every man for himself and the
devil take the hindmost that causes
the rout of armies, panics in public
buildings and stampedes of cattle.
Now that the raid is over and the
battle seems to have swept by it is
time for the banks to come out
from behind their breastworks,
observe the conditions and resume
business. From the standpoint of
the stock holder, it is obvious that
banks can make nothing by hoard
ing currency in their vaults.
Currency in piles on shelves and
concrete floors is just as useless
for the general business of the
country and just as idle in earning
as it would be stuffed in astocking
and hid in the bottom of a trunk.
At the usual dividend time the
stock holders may we'll come to the
directors, as the man in the parable
did, demand a report of results and
condemn the wrapping up of the
talent in the napkin and its burial
IN useless safety. From the
standpoint of the general public
and the business man, the situation
now is in the hands OF the banks.
If they will turn loose their hoard
lngs and begin 20 do business the
general business of the country
will respond briskly and promptly.
The people have done their part.
They have accepted script without
a murmur, In some places have
consented to restrictions oftwenty-
five dollars day on their with
drawals of their own money, have
given not the slightest indication
of fright. They have manifested
wonderful common sense, conf.
dcnce, good nature and generosity
Now 1T is up TO the banks in the
big and little cities and towns tc
start things moving. Richmond
News-Leader.
j believe that the highest sagaci;A
will be found in the endeavor tC
see, not to what extent credit NAV
be restricted, but how far it MAY
be granted; to see not how many
plants may be shut down, but how
many may be kept open; to see moi
how many men may be discharged
but how many may be kept EN-
pioyed; to see not how many order,
can be cancelled, but how ma,
work can be carried on. -Govei
Hughes, of New Ymk.
The above quotations, one from
leading Virginia newspaper anc
one from the Governor of New
York, show that there is somethii {
radically wrong with the banks alc
bankers of the country. The sam,
rul seems TO he in OBJECT II
Rochester and Richmond. il
Batavia and Berryville, in Ere
donia and Front Royal, in Watkin.
and Winchester. The banks, ac
cording To their statements of Dec.
ember 3, have more money on hanc
and on deposit then ever before,
yet they are calling" their loans
as they fall due, and have practi.
cally suspended their discountina
of notes. The writer was informed
by the Cashiers Of the two Berry.
vile banks the other day that tile
chances ofsecuring the discountinp
of a S210 nnff are q xfren,ci, Liz. \,