Year: 1868

upon what does he base his judgment
when check is presented for certi6ca-
tom Entirelyupon the known business
integrity of the drawer and the general
run of his account with the bank. If
the drawer Of the check is known to
be man of honor-even if his
account be not good, the check will be
duly certified, because the teller kn0acs
sufficient funds will be deposited to
cover the ert6cation before the close of
the day. In short, it is simply the ban
ing of the banks credit to customef
for short time-perhsps few minutes
only. The teller, as said, the one who
decides this question, and except in
few special cases Instructions from his
superiors), does so entirely upon his own
knowledge of the drawers of checks that
may be offered him for certification. So
useful is the practice that no bank of
New York city would give it up volun.
tarily, for it is legitimate and safe. lfs
customer of bank is a we'll known busi-
ness man of means and of honor, his
checks will be certified (or paid) whether
he has funds to meet them or not; and
customers expect such favors from banks,
are entitled to them, and alscays soiH
get them, no matter what the system is
where it exists. Even in Memphis the
practice prevails--to the writer's know
ledge. The eerti6cation will be done
under any spstem of banking, whether
with paper or q specie currency.
For, as I said, It's matter almost en-
tirely unconnected with anything but the
relations of customers with banks, or of
the formers known integrity and means.
And inasmuch as certified check is
charged to the droper's account at once,
it would seem immaterial whether it be
paid or marked good; and such being
the case, the practice cannot be de-
stroyed or stopped entirely, as it will to all
practical purposes exist, as it alicays
has, in some form or other. If the pub
lie were more familiar with the workings
and machinery of banks, good reasons
for many things would be apparent which
now seem obscure and only worthy de-
nunciatien. Again you say: And we
shall probably 90 on the down grade
until we reach financial convulsion
which results in destruction of paper
values" Do you mean your readers
shall think the country is fast going to
bankruptcy If so, you have appealed
to people ID. e., your readers) who lind
themselves much better off this year than
last-money plentier with them and the
necessities of life cheaper. / do not
think they con agree with you, for their
experience is the reverse. What they
receive for money is better than it ever
was, buys them more, and they have
more of it. Why2 Because they have
raised out Of the ground more than their
necessities required, and they have sur
plus. And not because money is of rags
or of metal, plenty or scarce. or becau'e
the system is national, or State or pr-
vate. The people of the North went on
prosperous; the people of the South s.s
so, and the East (you always say is fat
tening. and what more does one want to
show him that the country is not going
toward bankruptcy The earnings of the
country for one year would pay the
great debt ficice. "The sooner smash
up comes the better" No, sir The
sooner we all Uerk all do what we can
to earn our bread; the sooner we realize
that honesty is the best policy for nations
as well as individuals, and practice the
rule, the sooner we will reduce our burdens
and taxes Let US not so much hurrah for
a general smash-up as each Of Us to make
our condition better each year as we can,
and the terrible cstachssm will never
come.


Do You not think, Mr.. Editor, that you
owe little to the good of the people 7
And would it not be better that the peo-
pie think their condition is not so bad
after all, inssmuch as their experience
shows that it is not2. II il were true that
our currency was gradually becoming
worthless, and the nation and individuals
already grasping at straws to save them
from the inevitable (2) deluge Of bsuk-
ruptcy, none would sooner demand
change than l. But l cannot see the
dangers that are so patent to you and
to the best Of nv ability / endeav0r to
see the truth.) News from sll parts Of
the country does not show the sad result
70 be near in the future or there ct all
Bat il seems to me the very reverse is
there, aud solrsncy, IL we persist in the
course Of the past three years, viii be our
fortune before lsng. II experience
teaches Us anything. il teaches you as
we'll ss me that this country is much
better of than four years ago or three
yes-s. Il must then. er Recessi-
safe rei, be on the right path.
nNe have this tremendous mill-ssone on
our necks We could not breathe ss well
as the present condition Of the country
shows We DO.


That tie people think rightly is very
important, for the questions OF currency
or lie solVency or value depends some
What on that; and Il would seem the
duiv Of ell 10 aid 10 establishing faith and /
credit, for. Mr. Editor, you knos this
large county is not crippled By Its pre- ]
scrf rrhA hrvord IN uourr 10 rerunnr-