Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-09-09
THE BANKER.

The banker is said to have originated in London.
There the people acquired the habit of leaving their
precious metals, whether coined or uncoined' with
the goldsmths and sversmiths for safe keeping.
The orders they gave upon these repositories to de-
liver this metal to another evolved into our present
bank check
In those primitive days peoples wants were few
and they could barter, largely what they produced
for what they needed. There little use for that
medium of exchange which we call money and even
less use for that vast credit system which is the basis
Of modern business life.
As civilization became more complex; as mems
needs EXPANDED until they required articles which
were produced by those beyond their reach so that
they could not barter; merchandising became a
developed business both money and credit became
an imperative necessity.
In the early days of credit rich Shylocks loaned
their individual money, a private TRANSACTION, 10
those in need of help exacting such toll as the
emergency of the borrower permitted. Gradually
the wealth of few became wholly inadequate for
the credit requirements of business. The small
amount of the many, aggregating large amounts
was needed The goldsmiths took the money or
metal for safe-keeping agreeing to pay IN KIND on
demand but no longer agreeing to keep the Identical
property deposited for re-devery to the owner. His
receipt passed currently from hand to hand in trade
and became first paper currency.
From such crude beginnings has evolved all the
day our economic structure rests upon founuatioh
OF credits Ninety -five per cent Of our business is
transacted without the use of money. Materiailsuc
as we have become. the fact remains that our ousl-
ness rests upon that spiritual thing which we call
faith Honesty, integrity, confdence-these spiritual
things make modern banking possible Without
these intangible but very practical traits among the
people, we would be in economic chaos.
What is necessary among the people Is pre-
eminently necessary with the banker. When avarice
or cynicsm leads him to sacrifice these elements OF
character his usefulness as banker Is gone and
the day of his undong is at hand.
Pawn brokers may be needed by the down-and-
outer but the business world holds them In con-
tempt. The banker who exhibits these traits is use
less to the business community and fails to develop
a great bank because his primary principle is not
service. The world comes to our door only In pro-
portion to usefulness to 1t. 1t is not ldeahsuc
to assert that banks development will be in direct
proportion to its usefulness to the community.
The intrigue of the schemer the pull of the
political banker; the avarce Of the extortioner or
the bludgeonng of the powerful, will not build up
great banks recognition of the great trusteeship
imposed upon the banker, keen and sympathetic
interest in the welfare of the community ana us
members an ever-present sense of the great puphc
responsibility he has assumed. must be the basic
mental attitude of the great and successful banker
Such men a community loves to honor-and make
legitimately rich.
Today our New Mexico bankers are holding their
annual meeting If their great concern is for the
prosperity of the and its people, they will share
in the prosperity which their council may help us
bring.
Their calling is a high one their mission Is in
dispensible to the people; upon their wisdom ana
devotion largely depends the economic future of New
Mexico.
But to honor that calling; to fulfill that mission;
to display that wisdom and devotion, their meeting
must have a basis in Service, not self"
II this spirit animates them, as we are sure 1t
will, their intelligent service to their communities
will bring to them all the material rewards which
that service earns.