Gunnison news-champion., 1923-12-21
Address on Banking
By Ashton Winsl0w

cYIS Axo merely the 0epoSttoRu, ageufa.
filling their positions because Of their
ebility 20 handle the business for the
eafcty Of the depositors money 10 the
nrst consideratioa Of . good bank-and
70 sats!y we nnd the strosgest tie be-
caused on one hand BY the demand OF
ousiness Tor capital and on the other
~ the demand for safe place for the
Roughly speaking there are about
/ 1900 banks In the United States. two
third, Of which are State banks and
rs s.ss Companies and the balance
With safety a. . guide. the next con-
sideration OF . good bank 10 the de-
velopment OF local business or indus-
snce. eonndsnce is i'"esI espres.eS en- s0nndu IN
Ssns. 'h.,s make: possible sS.
done ."oSn. sss Ssr,d ss su:ns ss,,
Because the dollar ts our medium Of
exchange. amounts Of business are
expressed -. in dollars, u II was necrs
oe handled on . cash basis. Il would
have To be cut from. eighty 20 rinety
per cent IN volume because there |.
actual money to handle the hundreds
Of biiiions OF dollars required in our
business, The immense volume OF bust
credit. and the Wise or unwise use Of
credit 10 the difference between sue
cess and failure of any business. Per-
credit and how IL carries the burden
OF business world 10 the bank check.
of every dollar that 10 used. OF every
d. paid by check. The universal use
| Of checks expresses the confidence in
the banks. When you write . check.
yS. ssn are son Sorsewin; 5oMd. your banks credit
lend the bank your credit.
IN the business world there are three
rules or three Cs upon which credit II
ossed, rney are are charsGter. Capacity
Character. because character breeds
iconndence. Good character cab usual
" be shown BY high standards and In
| shown by ability to earn thru honesty
| and industry. Capital il shown by
worth In money. merchandise. stocks.
| ana bonds. or lands.
Another point that In always cx-
amined In giving credit 10 the home
life Of the person who desires credit
The business world has found out TO
~ cost that q man may have a sue:
| the three C'a. and be ruined by do
| msstic troubles. because his character
cannot always control his sensibiiities
The person most feared by the business
world In the granting OF credit II not
the man that may meet with hard luck
but the man who appears to be doing
smoothly. then. when thinss DO not not
| break just right, lays down on the job
cold and Quits. No rule and no credit
character he may be, can protect the
business world against the auittcr.
But one small satisfsction In that the
quite. E. only ,hs,, has chance to quit once
world forever. Competition between
businesses In the granting q credit
i a,trc - fssl .ulx
be gained by the friendly cooperation
Of competitors. II tho crook or bill
beater can find a town where the ner-
tors. he considers himself provided
with free merchandise until he has
| stung them all. And he does II
/ In these days of keen competition.
service In business ir often deciding
| factor In success. But extra service TO
| customers costs money and almost al
ms ,hs on sran,nr sske vol
credit is not wisely done. Big busi-
ness has found y pays TO be friendly
with the other fellow.
The wise business man uses his
bank very much in the granting of
credit to his customers. because he has
found that hts bank can often give or
| save him a loss. The most successful
business men are those who make
4 full use of all sources OF information
ns srantns sns 81 q ers ans the second
essential OF a good bank. he never
falls to talk II over with the bank
4 frst
While credit carries the burden OF
the business OF the world. 1t would be
useless unless II could be grouped and
controiied: Banks are the centers OF
4 credit The banks OF the country make
possible the handling OF the business
OF today. The backbone OF the bank
ing system is not located on Wall
4 Street; IL is not In the large banks hav-
Ing hundreds OF millions of dollars in
depostts. but II is the small country
banks. such as we have here in Gun
4 small banks that make the city banks
large volume of business possible. The
email banks act as feeders to the
large ones; and make possible large 1
that employ thousands Of city folks.
The country banks are the local CEN
ters Of credit. and the prosperity OF
perity OF their customers. A. the
large proportion OF country banks are
naturally located in farming districts.
be Of ns so. frmsr sau9.ry S ranch
Times. Poor price. Tor me farmer:
product. make . period Of hard
power ID estimated At 81 per cent Of
products bring poor prices. or may be
what he would like TO have and. usual
" worse still. il unable TO pay for
what he has to have. A low market
or no market to speak of for 81 per
cent Of the country's production. can
bring but one thin9-depression. clos.
ing OF factories and the throwing out
Of work Of thousands Of city folks.
\ The path Of production. Of prosperity
for city and country alike. has always
led to the farm. and always will. be-
cause land In a country's greatest de-
The xreatest problem IN the businers
/ world today II to find out what ts the
matter with the farmer and how to
help him. The farmer knows he has
80 have a margin of safety some where
| and most OF them are working sixteen
hours a day to hold down expenses
while they are. trying to hnd It. In
business the only reliable margin Of
safety that has ever been found is d.
versified products. Factories produce
different articles. 70 that when the
demand for one goes down. the sale
Of the other will keep them going un-
I'll demand improves. or a new article
d. ell