Image provided by: Deschutes County Historical Society; Bend, OR
About Cloverdale courier. (Cloverdale, Tillamook County, Or.) 190?-19?? | View Entire Issue (July 30, 1915)
0 O U R P U B L IC FO R U M IV.— F. A. V A N D E R L I P On The Business of Banking The farmers of this nation to come Into their own must study business. We must, as a clas», understand th e fundamental prin- clples that under lie every Industry, Its functions to society and its lation to agricul ture, for there can be no intelligent co-operation with out understanding. Mr. F. A. Vander* Up. president o f the National City Hank of New York, when asked "W hat Is a bank?" said in part: "The first and most familiar function of a bank Is that of gathering up the Idle money of a community, small sums and large, and thus forming a pool or reservoir upon which responsi ble persons may draw as they have temporary use for money. It Is evi dent that this makes large sums In the aggregate available for tjhe gn* rTH E ■ » e< ployment of labor and the develop ment of the community. But much more Is accomplished than the use of the money actually deposited In the banks, for by the use of drafts, checks and bank notes the efficiency of money is multiplied several times over. A very large business, for example one of the great beef packers, may use very little actual money; on one side of its bank account will be entered the checks and drafts it is dally receiving from everywhere in payment for meats while on the other side will be entered the checks it draws In I ayment for cattle, etc., Its only use of money being for small paymt ts, to labor and otherwise. If there were but one bank in a com munity and everybody paid all bills by drawing checks on that bank, and ev eryone receiving a check Immediately deposited it in the bank, the amount of money In the bank evidently would not change at all and the entire busi ness of the community would be set tled on the books of the bank. And the situation is but slightly changed when there are several banks, for they daily exchange among themselves all the checks they receive on each oth er, which practically ofTset themselves, although the small balances are paid in cash. This is called ‘clearing* and in every large city there is a ‘Clear ing House’ where representatives of “It Don’t Hurt a Fact to Hmmer it.” If:.' f.icf we wish to hs m in e r is th.it A le x M c N a ir dt I Co.’s store gives more quality, service and satisfaction than a n y other store in Til in monk county. Our Piienomiual uccess Demon states that Fact. it. iii' inher A'ex McNair »it Co. tor Builders’ Hardware, Eftve Trniljrhing, Fern) Tonis. S h e lf G oods. Cutlery, and every thing kepi in a fully stocked h ard w a re store. I Alex McNair & Ca., Tiliamock,Ore. 6000 JUDGE GETS A COMPLIMENT FROM THE BRICKLAYER. Q BECORKA JUDCE YOU RE A LIVE CRICK C ^ lil G te a a y to b a c c o s a t is - [action—all day, every days from a clean, small chew. T hat's the beauty of the Real Tobacco Chezv. i t ’s glad new s that a m an can’t help telling his friends about as soon as he leai ns the facts himself. A little chew cf pure, rich, mellow tobacco—seasoned and sweetened just enough—cuts out so much of the grinding cu:d spitling. The .t£AL TOBACCO ChtW IS NOW CUT TWO WAYS!! W-B CUT is tone SHREO RIO ST-CUT is short shred . ?! T ake lr ss then one-quarter the old kize chew. It w ill be more sat i sf yi ng than a mouthful o f ordinary, t. Sacco. Just tuke n nibble o f it until you find the strength chew that sun* you, then see how easily and evenly the real tobacco taste comes, how it sutishes, how much less you have to spit, how few chews you take to be tobacco satisfied. That’ s why it is Tht R eal Tubacet Chtw. Th. t ’ s why it costs less in the end. The taste o f pure, rich tohscco does r ot need to be covered up. A a excess o f licotice end sweetening makes you spit too much. One «mall chew takes the place of two big chews of the old kind. <( N otice h o w the sa lt b rin g s out the rich tobacco ta s te .> J W EYM AN -BRU TO N ( COMPANY, 50 Union Square, N ew York City buy from dealer or send io ^ stampstdus J I “ ' the banks meet dally to settle their the same amount abroad In the course of a year, these payments largely off accounts with each other. A bank Is constanUy receiving from set each other. It Is evident that the Us customers, particularly those that banks are very Intimately related to are shipping products to ether local!- the trade and Industry of a country. Ues, drafts and checks drawn on banks The banker is a dealer In credit much in other cities, which it usually sends more than a dealer In money, and of for deposit to a few correspondent course his own credit must be above He exchanges his credit for banks In the central ciUes with which question ii,e credits acquired by the customers. it maintains permanent accounts In ,nd lends credit for their accommo this way these scattered credits are con dation. but he must conduct the busi solidated and the bank draws upon these accounts in supplying custom ness aitn such judgment that he can ers with the means o f making pay lvays meet his own obligations with ments away from home. As each ^?.sb on demand. This is the essential local community sells and buys about hing about bank credit, that it shall ’.ways be the same as cash ”