Show I 1 1 7 11 F 71 1 I 1 ot OUR BANKING ar james selwin tait F it 1 S staff 1 the north american coin pany of now york has recently published an interesting and brochure of sixty pages on nat I 1 ranks and gover ment circulation tile work Is th result of much thought and inre the deduction sa borei ble and are sustained by sound mont and tho treatment of t a whole intricate subject is simple cohew and attractive we inis gine eliat some of its ideas on the great banking the country will be found acce to the general reader in these days of bank failures and absconding sc cashiers so while leaving the inner details fotio closer study of those directly et we mill proceed to a brief on of some of the chlof points touched upon mr tait out with tile tion that all probabilities point 1 to the general extinction of national bariks batiks as constituted under tile AA of 2 to the restriction of ike currency to the governments hands 3 national banks in accordance with tent require and 4 the withdrawal of government ins petion from these binka to tile filp have not arrived at these conclusions or ellk doubt their correctness the author offa all arra y of arguments carefully dilated vI anti convincingly presenters present eds I 1 10 devotes to nv hat aw of itco ver and tile evils of an undue hatto in struggling for bi vies 11 Iver in mh ch lie can the boat to fully chire but tile united states have a ant of old theories the gries and may in this silver coinage have better than they knew As to panics tic argues thai they rel alt from the fact that ilia tion Is not extended enough in other words that the banking lish ments under our national pat ional system are most of them too far front their blase of supplies if there Is a panic in england it not reach to scotland or ireland for london vi here the money is boarded is N athin four hours distance of ilia inott on flying branch in teigland tri gland A large country therefore ought to have a larger thin a small coun try even it both lave an equal wealth equal trade arid equal population in the old it money Is drawn out of one bank during an excitement it is immediately put in another and Is at once com eatable again idere it is different get alarmed make a run on the bank and board up their money in safes or strong boxes few of our banks are A ichim four hours of lite money hichik they could but reach it they could command all tl evil a panic causes ju usually wrought in tile first four hours at ilia end of bibich time the bank has closed its doors or conal deu w has been restored and this brings tile author to the suggestion niso and seem that reserves of currency should be kept at accessible points all over the country Ile favors tire reorganization of the banking system the gr adrial doing away with private coni berte estAblishment the of numerous branies of the national banking lem after tile style of the joint stock banks of ing shown themselves thom selves infinitely safer are also far more ile thinks large banks m tit numerous branches better for the financial country than where its banking is entrusted to small and banks such largo establishments should be in new york philadelphia st louis san francisco and other leading cilles each to have as many branal as it needs but not to be too far removed from ilia joost distant of them ito unhesitatingly declares tile banking system of england the finest product in it und considers 16 a century ahead of ila rest of europe and as in every way entitled to the diligent study of american financiers there Is no wore interesting Inter portion of the pamphlet than that berea comparison is dran between the farco knowd as governmental bank inspection in tills country and the spartan methods of tile english a estem there an dare not be satisfied vt itha chat it lot lie bank 0 flici als or a mecha tilI look ill g 0 ver tile book a after m he passes on big vay rejoicing I 1 on theaon t ry lie cornea and when A I 1 st expected stays usually three or four days and examines the concern down to its smallest do idea this each buranch sends up re turns weekly to tile chief establish act I 1 entry is scrutinized with eagle eyes of like eight failures of national bariks batiks in the united states during 1887 everyone Is shown to have occurred through in pac fly or fit its manage ment and everyone might have been avoided by proper inspection tito inspection provided by law in this coun try is really no inspection at all for all purposes of detecting fraud he says it might as well be conduct e d m fill afoot rule and the assets be assumed according to their cubic di mens lons there Is absolutely no awo faction in it against fraud which has passed alie rudimentary stage 11 tito above are but a few of the top les touched upon in taits cord preben sive and vell digested little work it already enjoys quite an ex tended reputation and Is altogether tile clearest and best treatise on the subject abich ilia present day jigs produced V eleax is a pj ech that jolla L sullivan made on tile evening of the when a float of ills friends banqueted him in boston I 1 1 I thank you ono and all for this reception aika as a bostonian I 1 hot to id lam not prepared pre to be I 1 went away august last to bring back A ith me tile chain piou ship of ilia world I 1 failed as you know I 1 tried to brink on a match mith jeni smith tile champion there but was borew into a tight with jl itchell I 1 want to express my tin I 1 always be on top and have your friendly feeling |