The Birmingham age-herald., 1915-03-21
PRACTICAL BANKING-


 with a survey of the federal reserve acb. By Ralph Scott Harris Tough ton Mifflin company, the Riverside Press, publishers. Boston.
 Ralph Scott Harris, a Birmingham boy still in college, Columbia university being his the seat of learning which he has attended for several years, has written very remarkable and noteworthy book, entitled, Practical Banking, With Sur vey of the Federal Reserve Act"
 The book would be wonderful from the pen of man twice Mir Harris age. and coming as it does from a boy who is still collegian. it savers of greatness when it comes to mentality and erudite scholarship.
 MT. Harris literary career is of espe- cial interest to southern people, and par ticularly to Birmingham people, who have known him since he graduated from the Birmingham High school on through his early career in the banking business He entered Columbia in 1909, completed his literary course in 1912, was one of the honor men and valedictorian of his class. Will graduate from the law department of Columbia in June, and return to Bir- | mingham. His pet his book. after having submitted the manuscript to some of the most prominent banking officials of Boston, paying him handsome roy alty on each copy sold.
 Practical Banking covers wide field and contains a tremendous amount of information, beginning with the opening chapter. on What Is Bank" on through succeeding chapters entitled. ''rhe Stockholders and the Board of Di- rectors." "The President" "The Cash- ier' "The Savings Department" 'The Formation and Powers of the Natoinal Bank" running the entire gamut of the banking business, including "A Survey of the Federal Reserve Act"
 The book is well written, concisely ar ranged, and quite thorough, and shows the author to be student of banking affairs, who is well equipped and splen- didly read. and his first contribution to literature is undoubtedly a paving stone for future bigger things.
 Tn a preface" to Practical Bank ing" MT. Harris says, among other things:
 ''In putting this volume before the pub lie, the writer has in mind at least two purposes which he hopes to fulfill: First, to draw with certain accuracy of detail plan of the structure-the mechanism. of the modern bank in America: second, to reduce all this to utechnical language and yet include sufficient of exact f- nancial information to enagle the lay man who Is interested in the general methods of banking to grasp the subject substantially without laborious and end- less effort
 ''There is no subject, not essentially fic- ton, which yields such stimulating or romantic reactions the study and practice of banking. Indeed, writers on the matter are more wont to use literary imagery than are delneators of science in general. Thus, one speaks of London as "the financial Rome of civilized na- toins, while another says that between the gold reserves on the face of the earth there is the same affinity as be- tween f>>. glood corpuscles circulating in the organism
 This little volume, however. is not concerned in particular with world finance. but rather with the interior conduct of the average American bank. have sought to make it intimate and, as far as it was interesting and profit able, to introduce the reader to some of the officers and officials. of the bank, acauaint him with their duties. and. in fine. describe the, actual con duct of banking from the mechanistic side. There are also several chapters dealing with more general phases of banking. such as that concerning What Is a Ban?" and the chapters on "The Clearinghouse" National Bank Currency" Foreign Exchange" and "The Federal Reserve Act"
 The writer does not presume to have said the final word on banking. in- deed. he only assumes certain orig inality as far as his observations and treatment are concerned. On the other hand, he has not altogether depended on his own experience, but has sought the advice of numerous practical bank ing men in New York and elsewhere.