The Barre daily times. (Barre, Vt.) 1897-1959, 1907-10-28

Prospect Of an Early Return 70 Legltl.
mate Methods.

banking accommodation" WdFda % tia
effect have been heard from hundfeA
ii business men aithln tAa pasi f.
days, They think they aea In the reauts
ii certain banks from domination b.
promoter aud stock gauEbieFu, The profL
ise Of a return Of al the hanks 70 IN
traditional aud safer mohods 81 an older
day. We have undonbte liy Witnessed
gross pervefslon 81 the original theory
and the mercantile iuncsion4 Of q hank
The general hope now IA that We shall
soon gct hack 70 The true business Of
banking
That h. In a word, 20 utilize eavlngz
and employ capital 90 AZ to secure the
steady ongoing II mercantile and manu-
featuring enterprise The honorable
tradition has bosn that each hank has
It's customers whom Il must take care
Of" That simply means that the nier-
chant and the inanufactnFen The planter
and the farmer and the DEALER. shah b.
abba 20 get his necessary loans. on prop
cr security, and always be slfo that
good bills will be discounted for him
To minister 20 aurh business needs,
hanks were fret rreatedi aud their chief
duty eh0uld ba 20 fulhl that end Of
their being. But what have We seen In
New York during the pest bali.desen
yearsf Great banking lnttilutihhb pros
tItuted into tools a interruptions specu-
latogs. Old names have connfed Tor Vt.
de. Whose bank ~ THAR -0h, the
Standard crowd have COZ that" that's
one OF Aforse's string" RYAN IL Be.
hind t." Such have bsca the common
remarks Tor yderx patt; and the infer.
ence u clear. People have bought into
banks for the FAKE OF control" That
control meaning use Of barking resources
primarily 10 finance speculation, and
only secondhrily 20 provide regular busi-
neea with lie regular Advances Of capl-
tai
Under such twisted and malign ycoh-
ception Of banking, basinoss can. for q
time. mako ahift 20 Get on. Bfn let a
period Of restricted credit BEAN, az IN
the past six months, and what Il the
RESULT Il Ia legltlmaie basinsm that
Is first made 70 suffer. Speculation Il
left untouched as long % possible. II
Is the merchant, the Manufacturer, whom
the president Of the bank tends for and
says that no 10 sorfy, bui that he Is
compelled 20 ask him 20 cut down the
Tine" that bank il carrying for him BY
onethird or one-hhlf. And interest on
loans Is marked up. even for Old cna.
toners But ell the time, there Is too
mnoh reason to believe, the resources Of
these CONTROLLED banks wero being put
a. freely a. possible-pghaps more free
" than tho law perInits-et the disposal
Of promoters and speculstofs. In Other
words 20 make 10 easy for them, ieRiti-
mate business has found II made term
biy hard for II. The hold Of stock gam
blers upon banks has really been a grip
upon the throat Of business. What many
people have vaguely felt throughout tho
summer has now been brought homo 70
them with all the force Of a dernonstro-
ton; spectators, through their owner
ship Of banks. have been squeezing blood
from the business men o. this eity.
The immense discrcdit into which this
vicious system has now fallen mist give
great satisfaction TO those conservative
bankers who have consistentiy dtnounc-
ed and resisted speculative banking II
was TO them that the very Spectators
had to turn, when the Crisis came; and
for their courageous, finn and thorough
dealing With the perverted banks, the
financial community Is lastingly In their
debt The outcome is triumph, not
only for honest bankers hut for & sound
theory Of banking And IN this day Of
running to Albany, or looking to Wash.
Ington, for Hercules 10 get the wagon
out Of the n1ire, 1t IL significant that this
great salvation was wrought on the spot
maided II was neither the state bank
ng department nor the federal comp
roller Of the currency that interviewed
IS god; IL was Just our clear.headei
md fesolute bankers Of the clearing
rouse that attended 70 their own local
OBJ.
The incident has It's lessons for those
Infected by the mania for government
equation Of everything. President
Roosevelt is accustomed TO say chat his
,lan for supervising railroads ID the
anne at that already IN force for super
Using national banks. But SHAT did
hat supervision amount to In the pres
mt insfancel Granting that IL would
ave disclosed outright ssolveney, OF
THAT value was IL IN stopping Morse
rom adding bank after bank to bis
chain"i Government inspection can
OF prevent banks from being used spec
lafiyely. II cannot dictate the proper
Lass Of loans to be made. Reliance has
B be placed, in the end, upon the good
anse and probity Of the bankers them
slves. And they, in their turn, must
Z upheld, and their banking methods
naped, by the financial community in
hich they live. 1t needed no prompt
IL from Washington to make clear
red and responsible bankers these past
lonths, refuse loans for use In Wall
rect purely. On the other hand, governs
ent supervision did not stay. those recl-
81 or bought and tied benkers who
emit on facilitating stock gambling.
hat has brought al that btfainess up
ith a round turn Is the bold and needed
,tion of the men WHO would restore
mixing to lbs proper place In the com
ercial world. The whole ID d good il
stration Of Tccqueville's contention
lat government ought to be central
Cd. but that administration should be
caiized. II is for the government TO
.ther and diffuse all the information
,ssible and to enact wise general laws;
Il those ON the ground must look after
cir own affairs. A vigilant and CON
ientious clearing house in New York
s been proven worth more to the bust
81 of New York than all the treasury
icials at Washington, New York
Tening Post
)W TO OPEN A CAN or SALMON.
To open can of Argo Red Salmon
operly, lay the can on its side, insert
d can opened at the seam, then stand
. - - AL awa r,rArnsnnf 4h1 49,,