Cloverdale courier. (Cloverdale, Tillamook County, Or.) 190?-19??, July 30, 1915, Image 4

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    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 ”