Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1907-11-21
Bring Out Your Money.

biiiiS OOl L ONIl
President Roosevelt, in his letter to
Secretary Cortelyou approving Of the
issue of S1OO,0OO 900 interest bearing
certificates and of SOC, 600, 600 in Panama
bonds, gives the people of the United
States bit of advice which it would
be we'll for them to follow.
"What is most needed just at pres
ent," he says, sis that our citizens
should realize how fundamentally
sound business conditions in this coun-
try are, and how absurd It is to permit
themselves to get into a panic and
create a stringency by boarding their
savings instead of trusting perfectly
sound banks"
Precisely. 1t is the doctrine which
The Inquirer has been preaching from
the start. There is nothing the matter
with the banks, nothing with business
conditions, but there will be if this alb
surd policy of boarding money and
keeping it out of general circulation
continues. Denude the banks of
money and lock it up at home and
you put an end to prosperity, because
business cannot be run without money.
"There is no particle of risk involv-
ed in letting business take its natural
course" continues the President
"The people can help themselves and
the country most by putting back into
o;, ,lot flr thnN
boarding. The banks and trust COM
panies are solvent"
And to prove that they are solvent
and that the United States Govern
mems has every possible confidence in
their integrity, the government al
ready has deposited 100000, 900 with
them and the proceeds of the sale of
the Panama bonds and of the certifi-
Gates of Indebtedness amounting to
$100, 0000 more, will also 90 into
the banks.
This marks the faith of the govern
ment in the sound condition of affairs,
and the President asks the people to
evince their faith in the same way.
81 appeal to the public to cooperate
with u.s." he says, Gin restoring normal
business conditions. The government
will see that the people do not suffer,
if only the people themselves will act
in the normal way"
The masses have had every conf
pence in President Roosevelt. They
have followed wherever he has led.
Now is the time for them to show
their confidence in practical way.
Let them restore their money to the
banks from which SO many thousands
of them have withdrawn it. And if
there are still those who doubt, then
by all means let them take their dollars
from the hiding places and purchase
the new government securities, upon
which they will be paid three per cent.
interest.
This is good deal better than let
ting the money lie idle at home and
subject to risks of loss. If the govern
ment Of United States cannot be trust.
ed, then the world will come to an end
and there will he no use for money.
But if the people have duty to per-
form, so have the banks themselves.
Let them put stop to their own hoard
ing of currency at the earliest possible
moment and there will be an end to
this abnormal and wholly senseless
situation. When depositor finds that
he can get all of the money he wants
from the funds he has on deposit at an
instants notice, he is perfectly con
tented to do without. He doesn't want
that money, in fact And that is all
there is about it.
The government has taken ster
which should put almost immediately
a large amount of ready money in cir.
culation. 1t is for the banks and the
people to cooperate. Absolutely the
only thing needed is confidence
Philadelphia Inquirer.
"Im Married Noyu