The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1920-11-10
THE BANK IN THE COMMUNITY.

The bank is old institution and it has it's
origin in the effort of individuals to supply a
need in every advancing community Banks on
Grated in the old world long before the chronicers
OF history thought it worth while to notice them.
| Private owners established banks in Venice two
centuries before the Senate opened its first public
bank of deposit. A private bank in like manner
was carried on in Amsterdam long before the
establishment of the famous bank of Amsterdam
and banking of we'll defined sort was carried on
long before the opening of the bank of England
The need for a bank manifests itself early in
the development of all communities where there
| IS enterprise. AS business in community grows
men pegln to look around for safe and convent
ent place IN which to deposit surplus funds SO
that when the time comes that they will need
them they will be at hand Opportunities for
enterprise opens in these communities to the ewes
of the intelligent and wide-awake capital is need
ed for the development of these ENTERPRISES and
the bank in the community helps to finance such
enterprises. The bank in the community takes
the funds which is paid by stockholders and the
deposits left with it by the thrifty people and
turns them over to the enterprisinp men in the
community for productive purposes and so the
bank is an agency for progress and is needed in
every community where business is developing
and enterprise needs encouraging
bank in general is an institution for the re-
celVlng OF deposits and making of loans for dis
counts. Aside from the fact that it receives the
money from the depositors of the community and
loans them to the enterprising men in the same
community for the purpose of its DEVELOPMENT, |
the Dank Is service institution. The banker must
be posted on questions of finances to be success
1ui banker He must be good business man and
n no hao1 L.
50 ne becomes the business counsellor of the COM
huhley. lie IS the business counsellor to the
nerchaht, the gram buyer, to the farmer and es-
9eclaily 70 the young farmer who is just starting
out ana needs advice and help. And so, the bank
er with his knowledge of the money market and
general business conditions, is always in a posi-
ION to render valuable advice to the people in the
this is service In MANY in II
stances, the bank acts as trustee, executor, and
1t furnishes safe deposit vaults L
ells letters of credit, transmits funds points aids
n the promotion of new enterprises and in their
organization to safeguard the interest of inyes
ors and renders many services of this sort week i
n and week out, without pay or profit. s
The tie between the banker. the merchant and c
ne farmer should be much stronger than it is,
he banker should fully realize that the deposits
his bank are after all the deposits of the COM
nunlty and his first obligation is to use the COM
nunlty's money to help the individuals of the O
community toward progress. The local merchant
hould learn to use the bank for all it is worth
no the bank should learn to help the merchant,
he farmer should learn to use the bank more
han ne is doing and the bank should finance the
armer for his business needs.
Every community where business is carried on
Where hope OF progress and improvement is evil
ent IN the breasts fmen should have bank q
men knows and realizes fully its obligations to d
$ own eommunty.-Merchants Magazine. 6,