Western Carolina Democrat and French Broad hustler. [volume] (Hendersonville, N.C.) 1913-1915, 1915-10-14
THE TRUE STORY OF
ONE THOUSAND DOLLARS.

ONE THOUSAND DOLLAhS,
Smith and his wife had one
thousand dollars saved for a rainy
day. They kept it in an old trunk
for a year, losing the interest they
might have drawn on it if deposit
ed in the savings department of
some bank.
The thought that this money
might be lost by fire or theft final
ly induced them to place it in the
bank.
From being just so much lifeless
pepper with Uncle Sans stamp oh
it. of no use to anyone, it Instantly
became a thing of life and extreme
usefulness.
First, it began earning Smith
three dollars and thirty cents &
month. Then the bank loaned il
to Jones. wro needed it in build
ing an addition to his store. In
about sixty days Jones store was
finished and he paid the thousand
dollars to the contractor for doing
the work. The contractor depos
tied it in the bank and issued
checks for eight hundred and fifty
dollars which his labor and mate
rial had cost him, keeping the bal
ance, his profit, in his own saving
account.
The dealers who received their
pay for this material and the car
-penters and workmen deposited III
the bank what they had been paid
by the contractor and drew on
their accounts to pay their own
expenses, and the merchants who
were paid Immediately deposited
the money in the bank again.
Thus, within a short time, the
whole thousand dollars was all
back in the bank and ready to loan
once more.
Before the year rolled around
this thousand dollars was loaned
five times. The merchant, Jones,
who first borrowed it to build a
addition to his store, found his
business increased so rapidly tina
he needed to lay in a larger stock
and in order to discount his bills
he went to the bank and borrowed
that same thousand dollars again
His increased business demanded
more help in the store and by
chance our friend Smith had a son
just coming out of school who
wanted to get a position, and he
got that job in Jones' store.
Now what has that thousand
dollars done9
We do not know of all it has
done, for it has been going in and
out of that bank for ten years
now.
But here are some of the things
which were the direct results of
Smiths depositing that one thou
sand dollars in the bank instead Of
keeping it idle at home:
It has earned Smith $500 inter
est. 1t enabled Jones, who did
not know Smith, and to this day
has no idea that it was Smiths
money he borrowed from the bank
to greatly increase his business.
Jones' increased business en-
abled Smiths son to step into a
good mercantile position, -whieh
has since paid him many thous-
ands of dollars in salary.
AS we said, we do not know all
the benefits which have resulted
from putting that money into cir
culation, but this story is true, and
from what we know of the policy
Of the bank where this thousand
dollars was deposited ten years
ago, we are safe in saying tina;
the same one thousand dollars
has created not less than twenty
thousand dollars worth of build
ings and improvements, yet it is
Smiths money just as it has al.
ways been, and he can draw every
cent of it, along with his accum
ulated interest.
Moral: 1t is not the amount OF
wealth in a town which builds i,
p. 1t is the rapidity with which
it circulates.-West Point News.
q TT KNOCKER DEAD