The Jasper news., 1908-06-25

4
nose. And when they 60 to;isil, or Boz
liyie,or the scrap.pile, they make deep
err impression Cd our minds than the
thousands and millions Of good men
who keep right on saving wood one
hundred and t~enty.eight feet to the
cord. =. $500 -s4~~r
There are over fifteen thousand banks
10 the country and all Of them have
directors and officers aud employees.
A position in bank is rightly looked
upon as post of honor. Banking sal.
aries are not high, 30 it is the honor
| more than the cash that bankers work
for.
How much good work they do can
never be estimated. How many bust
ness men have been kept of the rocks by
loan in time, or the refusal OF a loanY
How many doubtful investments
have been stopped by the conservative
advice OF the banker!
Perhaps at times he takes narrow
view. He is conservative, and conser-
vatism means leaving things as they
are. A banker must not take chances.
He is in a position of trust. He handles
other peoples money. He must exclude
enthusiasm and get down to the hard
facts. az
| II he is a good banker he will not
speculate with his depositors' money
nor will he knowingly lend it for specu
lation.
Almost without exception bank fail.
ures are CAUSED by the use Of deposits
for speculation. The man or men 10
control use the money to promote their
own private euterprses-they loan to
themselves amounts grossly in excess
of what is allowed by law or by good
business Judgement.
| Fortunately, the percentage If such
bankers is infinitely small.
There is no other business in the world
so generally free from dishonesty
aud it is almost invariably dishonesty
in one form or another, 10 one degree or
another, that causes failures.
In banks, as well as 10 other corpora
tions, publicity will cure most of the
existing evils.
don't mean general publicity, but
only such openness and frankness as
will give to depositors, stockholders and
bondholders full and complete know
ledge OF the methods and actual condi-
tons of the business.
Officers and directors are only trus-
tees. They don't cwn the business, as
many of them seem to think. They are
servants-not mssters.i. The depositors
and the stockholders are the ones who
really make the wheels revolve.
A bank president, or cashier, does
not do you favor when he takes your
deposit, or lends you money on good
security at good interest rate.
The obligation is on his own side.
The officer OF corporation who is
"chesty" with a stakeholder is ''sassing
his boss''-moreover he is killing his
golden goose.
The corporate management which
has the confidence of the stockholders
is in an impregnable position and is
pretty sure to make the business pay.
And the way to gain confidence is to
deserve ito earn it with absolute
frankness and fairness.
At present investors are gun.shy.
They doubt everything and everybody.
| Why?
Simply because they have been kept
10 the dark--because the bookkeeping
statements made to them are made,
not to give them real information, but
to prevent them from having it.
Once adopt the open-book policy in
corporate management and give stock.
holders their rights-as they do in Fog.
land, only more so-and it will be easy
to get all the money ever needed to de.
velop and extend the business of the
country.
Millions and billions of hidden dollars
will come out from innocuous desuetude
and 60 to work earning a. living.
| The open.book policy is growing.
One by one big and little corporations
are adopting it. The banks will follow.
Bye and bye confidence will be 30 fos.
tered that panic will be well-nigh i'm
possible.
1t is fear and distrust that make pan.
les and we are gradually eliminating
the cause OF the cause.