Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1914-08-29
How She Saved
the Bank
A Financial Story of the
1907 Panic
By WILLARD BLAKEMAN

There are different ways OF further
ing ones getting on in the world
ShortsiEht,d person, can see only on,
way, which is act!us on the adase
Every fellow for himself and The
devil take the hudmo~, Ncvcrthe
less meu have made fortunes hy help
ug others The difference between
this class ana the either IS tina; one
acts with view to bcucru- hi~ eoa
dition. while The other acts through
kindness IL heart
When was young man obtained
position iu 2 bank ad us attending
faithfully to business rose % b. cash
itF was economical so far as my
own personal expenses were concern
ed. tut don't think was mean.
would never lend small sums TO my
young men companions, but when any
one really needed assistance would
give 1t outright
That had good Judgment In making
INV tEAAitlAAN - tiAVNtA - AtAh AFN : NAAsAN
my savings grew rapidly. When l was
twenty-sevcn years married Molly
Erskine. aged twenty A year after
our marriage word came in from a
western town that there vas only one
bank III the place ana room for more.
After talking the matter over with my
wife decided 10 start bank there.
got some u the stockholders Of the
institution with which was connect
ed Interested in the project and with
my own capital in due time opened my
doors FOR deposits.
1 found thar the man already estab-
lished. John Redheld. had antagonizel
certain persons by declining 70 give
them all the discounts they desired. and
there being no other banker in the
town, they had taken steps TO have one
establish himself there. These persons
welcomed NE. opened accounts with
me and averred that II | would do "a
liberal business and not be scared AT
triiies would soon do all the business
OK the town
saw AT once that Redfeld was not
pleased ut the appearance OF rival
and took secret means to diScredit me
He kept the best and safest accounts.
while the weakest came 20 me. But
by adheriug rieidly 10 fixed principles
OF banking and acting on the suppos!-
ton that there was business enough
for both OF US got my share OF the
new deposits, which were increasing.
and occasionally one Ok Redhelds Gus.
toners would fail 10 me But as had
maintained. there was business enough
for both ana ~ the end OF i've years
Redfield had more than held his own.
while | had obtained solid footing.
Bankers Ike sea captains, must ex
pect storms. managed my affairs
with this in view. but. rs IN the case
OF a sailor much depends upon the
facility with which he can get in sail
so the bankers safety depends upon
his ability to get in his loans. II the
captain keeps his sails furled be will
make no Roadway. and II the banker
keeps his money Ia his vaults he will
make no money When the panic 81
1907 came on ! was In as good, II not
better. condition than the average
banker To meet the storm.
II looked al one time during that
panic as IL the financial structure az
the United States was about 10 col
lapse. confess was ia great fear
that Il would carry me- down with Il
and bury me under lis ruins. Every
day more money was withdrawn from
circulation ana locked up | got In all
the loans I could and sold AZ a great
sacrifice ail my private property. This
fund / turned INTO gold. took il to my
home and concealed il under board
in the door proposed to keep It To
enable me 10 pass a crisis
The financial barometer-the New
York stock market-continued 20 fall
and money grew proportionately scarce
one morning I heard that run had
been started on Rcdhcld's bank. and
as the day wore on the line before the
paying tellers window increased
There was nothing ike a run on my
bank. but during the day the amount
drawn was three tines the usual ay-
erage
The next day the line leading 10 the
paying telier's window OF Redheld ;
bank was Increased. and at noon Red
field came 20 my bank and told me that
he must either have help or close his
doors He asked FOR IL on the ground
that II be went under the panic would
extend 20 me aud I would be carried
down with him
told Tim that ala not think So
That there would be- a run on my bank
! was willing To admit. bat my intel!
gent depo-ltor~ would not draw their
money. and / could pay an the rest
Then" he said. Il am ruined. am
too old "a begin again especially With
debt hanging over my mead II !
had $a0oOn or Sa0o"0 o. tide ME over
the rest Of the day ! could pu.
through for tomorrow am promised
payment on % sale 81 bonds hay"
made"
Il was then ~ O'Clock I told Rod
field that would consider the matter