The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1907-12-14
ASTORIABANKSSOLID
AS CIBRALTER
DEp0SIT0RS SHOULD NOT WITH
DRAW THEIR MONEY WHEN THE
BANKS OPEN BUT KEEP II THERE
FOR THE coMMUNITYs GOOD.

There has been considerable specuIa.
tion. during the financial furry that has
Just passed over this great and rich
country Of ours, ~ 10 what II the real
reason for II. Some say II was a "ricb
mans panic others say II was caused
by over.specnlating (which - o good
reason, while others give many various
causes, but the real cause is loss OF con.
fdence. Then comes the question 70
answer because there arc 10 many
things II can be laid TO. but / am OF the
firm opinion that II Is nature taking her
course. just ~ house wife must clean
her house thoroughly every year etc,
70 must the financial world have clean.
ing every so often, 10 get rid OF the
wildcat bankers and get.ricb.quick
sharks, who II left alone Tor too long a
period. would ruin any country or any
people. But, fortunately. II has all
passed over now. the weak and bad
having been culled out. the good left
standing II Is shame that such
things must happen, because many limo.
cent people are always caught. yet =
much greater number were saved from
disaster by the timely declaration Of
banking holidays by our Governor.
But to my point. the danger Is not yet
passed, and Il IL to throw true light
upon the ease. 80 that those who hold IL
in their power to save the situation that
this article Is written.
We win take the banks side OF the
situation first.
II is just as essential to have banks as
1t is to have heart in the human body.
The bank is the heart Of commerce and
trade. that feeds the different arteries OF
our great commercial system, just as the
heart feeds our body with blood. Banks
are organized for the purpose OF gather.
ing the money OF the country into snf.
iiciently large bodies so that II can be
used TO carry OH our great industries
which require large sums OF money and
which furnish labor for the masses. No
individual has enough money to carry on
n big business such as our lumber ana
salmon industries, but by the community
having It's money all gathered into three
or four bodies. these industries can be
carried on, on a paying basis, both TO
the owners and the laborer. When the
fisherman catches his fish and brings
them TO the cannery and sells them, or
when the logger cuts down his tree, or
when the man in the mill saws ii into
lumber. he gets his money but he don't
stop TO think OF the many channels those
fish or that lumber must 60 through be.
fore the money that really comes from
1t, gets back to the city where he gets
his money for his labor. 1t sometimes
takes as long as six months from the
time fish is caught, or tree is felled,
before IL reaches its final destination and
the money for ii gets back to its starting
place, and it is just here the banks come
in, The laborer must be paid; the can
merry man and miller could not pay him
until he gets his money out of the pro
ducts, were il not for the banks. The
bank forwards him the money on his
product 70 pay his men and the bank
gets its money only after the products
reach their final destination. How many
men, anywhere, could carry on their biz
business. when their pay rolls run into
thousands Of dollars weekly. Ii they had
to wait six months for their money :
None. So it can be seen how essential