The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1907-11-29
BIG GOLD SHIPMENT
First National Bank of Blackfoot
Gets q Load.

Gets Load.
On Tuesday morning the big dra,
belonging to the well known firm O
Simmons and Willis, was drawn vi
to the side door of The First Nationa
Bank in this city, and sacks of none,
unloaded amounting to 100000 ir
silver, 100000 in currency anG
$12000.00 in gold.
This came from the United States
sub-treasury at Chicago, and was pre-
ceeded couple of weeks ago by q
shipment of several thousand dol.
lars of paper money due the bank.
! The First National is a U. s. De.
positary, spelled AIRY, and has q
-s7phere of business with the govern.
ment that is not accorded to a bank
that is U. s. Depository, spelled
DRY. 1t receives for safe keeping
and for payment to individuals on
presentation of properly endorsed
checks, large sums of government mon
ey, while bank that is government
depository, can receive money for
safe keeping for the government, but
is not permitted to pay 1t out to in
dividuals.
1t is not generally understood,
even by local business men, that we
have bank in town, enjoying this
particular sphere of action. It is the
only one in this part of the state.
Pocatello has a depository but it is
not depositary. Therefore when the
government wants to make big pay
ment to the Shoshone and Bannock
or Lemhi Indians, it sends the money
to the First National Bank of Black
foot, and through it all the business
is done.
Part of the shipment referred to
in this article is for making
payment to the Indians, though for
convenience in identifying the In
ian, most of the checks are cashed
at Ross Fork at the store of The Post
Trader.
This bank rose to the rank of
U. s. Depositary in 1905 under the
management of G. A. Dobell, and
since that time it has been used by
the post Office and the Land office.
Post Master Geo. Wall has just re-
ceived notice from the Postal De-
partment that they are placing $1,000
a day to his credit to draw upon to
cash money orders, matter of much
relief TO him, as there has been a Pc
riod during the present little panic,
when Uncle Samuel could not get
money to cash postal money orders
drawn by himslf on him self at Black
foot Idaho when he our Uncle Sam
uel, had already received the cash on
every cent value Of the orders.
The nation has been temporarily
bilious, and nearly lay down in a
faint. There is az much money aa !
ever, but the money was not we'll dis
tributed. II runs had been made on
banks where they were full of checks
and drafts but short Of money, a ter
rible panic would have prostrated |
business this November, but they all
adopted the plan Of paying in checks
and drafts, with aslittle money sand
wiched in where circumstances re-
quired it, and all accepting checks
and drafts as money until the cash
could be moved to the localities from
which it had been drained.
This has saved panic that would
have been disaster to all classes
pf active business and working peo-
Die. The Postal Department and the
banks have been transacting business
af the country on stupendous scale
such as people little realized, and
when the original circulating medium
zot out Of balance. no harm came out
If it except so far as people got scar
ID and refused to transact business
IN papers that were substitute for
money. |
This brings US back to that old
orolem OF confidence" and calls to
mind the statement Of David Harum.
hat counterit bills are as good as
my 90 long as you keep them NOV
ng., - L