BRANCH BAN KS) SOME OF .THEIR ADVANTAGES AS COMPARED wm—r LOCAL BANKS. I 'They Equalize Supply and Demand of Money In Difl’erent Parts of a Country. Also Interest Rates, Distribute Risks and Bind Interests of Different Localities Together—Prevent Local Disaster Such as Occurs When Local Banks Fail. Instead of individual and local banks, such as exist in this country, Scotland and Canada have great central banks with branch banks in small cities and villages. Discussing the advantages of these banks before the recent bankersL convention at Detroit, Mr. William C. Cornwell said: “If the people who now have no banking facilities, and consequently heard what little money they have, had in their vicinity a branch of a reliable bank, they would prefer to place their savings in this branch' rather than take the risk of losing it by keeping it them- selves. (The very small proportion of coin which the Scotch banks carry en— ables them to afford to pay interest on deposits, as their notes cost them noth- ing, and what they loan is their notes. The payment of a small rate of interest g on deposits encourages people with small sums of money to deposit them, while, if no interest was paid, the men- ey would probably be boarded. “In towns and counties‘where money is not used much the branches collect in the spare funds, and almost without expense it is transferred through the head oflices to other branches where money is in active demand. This mon- ey from all parts is placed in one res- ervoir and distributed, doing the most good at the lowest cost. Rates to her- rowers are equalized by this distribu- tion, and in the far off sparsely settled regions rates are practically no higher than at the large centers. We know how different this is in the United States—money at 1 and 2 per cent per annum in New York, 10 and 12 per cent west and south and unobtainable at any price at many points. :pre of the great economies in the es- tablishment of branch banks is the less- ening of the capital invested in the business. The average percentage of capital to deposits in Scotland is 12.2 percent, while in this country it is 34.2 per cent. Whatever reduces expenses of bank management means reduced rates to the borrower—benefit to the public. If, there were only one bank in the coun- try, this might not be So, but competi- tion between banks forces them to the lowest rates that decent returns on their capital will allow. Consequently if cost to: the bank is reduced cost to the pub- lic is also reduced. A tax on banks is a tax on the people. Legislators, supposed to represent the people, should remem- ber this when it occurs to them that it would be a good thing to increase ‘the burdensofi the banks. . 341'." ,_ jsfinot always in demand at all, places attire same time, but is need- ed in different parts of the country at different times, and for this reason, un- der the branch system, the head bank is enabled to meet demands upon it with a comparatively small amount of money, which would be entirely in- sufficient if being handled by numerous independent banks. For the head banks risks are distributed, and if one part of the country has disaster this is offset by the banking profits in another part, not - affected. Each locality would be as- sured that no local disaSter would affect the banks. Now, when local banks be- gin to break, the locality submits and suffers until long afterward, when timid capital again establishes itself. ”In panics there would be acombina— tion of interests which would make im- possible such an experience as ours in 1893, when the solvent banks of the west were mowed down by hundreds because of lack of support. from each other-and from the centers. The very existence of the large, strong banks which would grow out of the system would tendto dissipate storms. ”Perhaps the argument in favor of branch-banks may be summed up when we say the system reaches the highest perfection in three important particu- lars—stability. economy, usefulness; Stability, the greatest financial strength, holding up all our institutions in active periods and in storm and attracting to this country the capital of the world; economy both of capital and manage- ment, meaning the lowest cost to the business world and consequently the highest development of our resources; usefulness, developing, and ’with most perfect machinery. the resources of every part. of the country and bringing into greatest activity the capacities of brain andmuscle of all onrpeople. ” Those Wheat Conspirators. In 1896, when wheat'scored such big ‘advances, just before the national elec- tion. many farmers were suspicions that the advances were a part of a great Wall street goldbug scheme to beat Bryan and silver. N ow that a presiden- tial election is three years off these same farmers will scarcely credit the" present very high price of wheat to the same gang of conspirators. They know that wheat is selling for a dollar be- cause it is actually worth a‘ dollar in thekmarkets of the world—not simply a 40 cent dollar such as we might have had had Bryan been elected, but a 100 cent dollar worth par in any civilized » country. The farmer who still holds his wheat, as most do, is not sorry that it is worth a gold instead of a silver dollar. Nor is he losing much sleep over the very low price of silver. He fails to see the same intimate connection between the prices of silver and wheat which he once imagined he saw, and the whole free silver delusion has lost its charms He may not tell all of his neighbors right away what he thinks, but he Will keep thinking. —Byron W. Holt. The missing link—the connection be- tween the price of silver and the price afxwheat. » Have TH EY WILL. BOLT. The People of lhe llornalks are Vilally Interested One Case, and'There" are Others. There is alarge body of bolters in the N orwalks and vicinity. The movement has been gaining force for some time and has become so powerful that those interested are anx- ious to declare themselves. They are bolt-ing ancient and useless methods of treating catarrh and hay fever, and they have come over in full force for California Catarrh Cure because they have tried it and know’its wort-h. Here are the words from a Norwalk man who has tried many medicines and treatments before he got what he‘ wanted California Catarrh Cure the greatest and only known cure for ca- tarrh. . Mr. Alfred Plant, 9 Maple street, Nor- walk, says: “ I have been a great suffers er from catarrh for over thirty years, having contracted the disease during the war. My whole head seemed full of scabs, and the discharge from the nose and into the throat wassomething awful. . My head ached almost continually, and I never got a good night’s sleep. I pro- cured a bottle of California Catarrh Cure at Plaisted’s drug store, South N orwalk. It has given me more relief than I have had for years; my head is very much improved and I can now sleep all night. It is certainly a great reliever, and I am glad to recommend it. Nothing among all the things I tried before helped me one quarter as much in months, as C. C. C. has in a few weeks. ” You don ’t have to Wait to find out if it will help "you for it relieves at once. To avoid Hay Fever in its season, use C. C. C. It is a. sure reliever of this and all mucous diseases. Use it to break up your colds, and to prevent colds “hanging on.” Price, 50 cents; three times as much for one dollar. Prosperity and Currency Reform. . Commenting upon the favorable ef- fects of the rise in wheat and the col- lapse of free silver theories The Finan- cial Chronicle says: “With all the man- ifest advantages arising from this re- markable situation there is one serious danger. Our currency system has been tried and found deplorably wanting. Its friends affirm that the currency trou- bles during the past seven years have been a result of financial and industrial distress. This, from one point of view, is true, but people who accept this as a conclusive answer strangely overlook the fact that such a result is the most serious indictment of the system. “When all commercial conditions unite to favor a country’s industries, it may with impunity take large risks and enter on dangerous experiments. Fiat money’seemed to be no bar to our pros- perity in the early seventies. The‘Bland silver coinage law was busily at work in 1879 and 1880, yet it had, so far as any obseryer could discover at the time, no especially baleful influence on the country’s prosperity.- In the fall of 1891 there were plenty of political oracles to point out the fact that good times were returning in the face of the silver pur- chase act of 1890. ”But what value is to be seriously put on currency systems good only for favorable times in trade? What, for in- stance, would the world have said of the English currency system if it had satisfied everybody in the mooth sail- ing of 1888 and 1889 and then collapsed into general discredit during the storm of 1890? If it is true that we need the surest and most invulnerable currency in the world to sustain our industries through these periodical storms which sweep over an industrial community then it will reasonably be admitted that the preparation for such a system must be made before the emergency arises. “If we are to pass in the future through other years of commercial dis- tress—and nobody is so great an opti- mist as to argue that trade reactions are gone forever—ewe surely'ought, as an intelligent people, to provide that in such an event our whole system of public and private finance, government and individual credit, rieed not be swept down simultaneously. The time to place our own currency on a sound and stable footing is the immediate future, while our industries are still feeling the im-' pulse of this year’s favorable accident of nature, along with the discovery of what our own productive possibilities actually are. “We have sufiicientfaith in the pres- ent treasury administration to believe that a first move will be made in such direction before this year is over. " Gold Not the Guilty Wre'tcn. You must attribute it to the invent- ive genius, that has multiplied a thou- sand times, in many instances, the strength of a single arm and enables us to do with one man what 50Vmen could not do 50 years ago. That is what has brought down prices in this country and everywhere—William J. Bryan, March 16. 1892 " Unsafe Monetary Condition. ' . The several forms of our paper money offer. in. my judgment, a constant em- barrassment to the government and im- peril a safe balance 'in the treasury.— From President McKinley's Message to Congress. - WE / / J / "I It cures Constipation, Sick ' Biliousness in such. a. cutie, coaxing way that the unpleasant res ts of common med:- clues are avoided. Sold by Druggzlvts . 50¢. a SI . for 50 year:- '*‘rr TASTES Goon, TOO.” T H EVE NlN ‘ G CHECKER-BOARD BUSINESS 01:2chon.. 2 £9 N ORWALK Fire Insurance Co. In Successful Oper- ation Since 1860, no Ouistandino Claims. Sales For Rent- mums: mm 121' . Safe Deposit Vault _ on THE _ NATIONAL BANK or uonwsnx, GAZETTE ADS. BRING GOOD RESULTS * 6. Ward Selleok, BEST GOODS. teas and carrots 18 WALL ST. Geo. WJIaymoud, DEALER IN Staple and Fancy Groceries AND Provisions No.9Maln St. Frank T. Hyatt DENTIST, 8 West Avenue. NASH IIVANSCOY r. —Dealers in— Cnocnsnr, CHINA AND GL‘Ass ABE. PLUMBIIB. STEAM All) GAS FITTIIG. Cor. Main & West ts so. NORWALK. or AT ALL DRUGGISTS. =gflgpahgrdhar4hqrdbrdca=fir=b==cfiéi5 Dyspepsia. Edgar Buttery, N u rse ryman , NORWALK. CONN. Trees. Shrubs and Plants. Ssrawberry Plants 3. Specialty. Brandy Wine. Rio and Marshel. 30 other Varmnes. Ofice, 6 Water St. N urs ’ys, Broad River. PlELBRDS’. Real German Lager, On draught and in Bottles, _' A1"— BATGHFOIID’S, 44E'Maln Street. STORAGE I Furniture or other articles taken in storage by the week, month or year at low rates. For terms ap- ply to— S. B. WI LSO N lBuildel‘. 92 Wall St- Norwalk. Conn. DYSPEPSIII. MIILIIRIII. CHILLS all” FEVER. GRIPPE. BILIOUSNESS, SICK-HEADACHE CONSTIPIIIION ill” GEIIERIILDEBILIIY. '4 PRICE 50 Cts. mm ca. ,. 49 and 51 Marion St, N. Yo ENTERPRISE Bottling Works, 7 Wall Street. HIE AlES AID lAGEB EXPRESSLY son FAM- ILY usn. Mail orders receive prompt attention. IIIIIIT & ZELIIFF, Fish, Clams, Oysters, Fruits and Vegetables. 69 Washington St . SOUTH NORWALK. LOBSTERS CAUGHT OFF NORWALK ISLANDS. Leave your orders and have them delivered every 88 turd av,a . m. Small Easy taken. ' ’ noun, una Will Keep your Stomach in Healthy Condition. Nona gaming ozcept “Trade Hark” blown in every bottle. SAVER leaR PILLS 25 cents. Purely Vegetable. Will cure Biliousness, Conscipation, Piles. Sick-Headache, and Sand for Pamphlet. Restores i srrsr’r. No Woman ought to be without the SAVER FEMALE REMEDY (SUPPOSITORIES). :aE'EEa:====E==I=5=&-=&r mgfifisflafiagayqur—sefi W Advertising . a e that Pave The" Successful ~Merchants in N on Walk all advertise in The GAZETTE, because it keeps them ill touch with ,he entire purchasing community. g DONE AT THIS OFFICE. EMBOSSING . FRED A. WALTER MAKER or AND DEALER IN HARNEsgs AND : HORSE Goons Repairing of all kinds _ done at short notica arnessmade tc or der 9!. specraltw « 3 1 MAIN r. 1 . NORWALK, - . CONN.- chas. T.Leonard Wholesale and Retail Dea er in GOAL, WIND. IlIIE STDIE All MANUFACTURER or CEMENT -:- PIP Ofiice and'Yard. 33 to 43 Water Street. - W. H. éYINGTOR ilsnrrcr. ' I. ll. IILKIII Carpenter and Builder, sworn m 9mm ’76 Franklin Ave , NORWALK. CONN. TRY WEED’S ,SUDA WATER 38 Wall St. .‘Ilnm i. Emile Illllllrg. Painting. Pa. or 11811111113. Is somin- mg and Hardwood Finishing, ‘ 0. l. FIN", 52 Wilton Avenue, _ r N orwalk, ‘ Conn. Send for book con- taining samples. PARLOR ornnrn-r-snor, I E. S. LEOBOLD . 47 Main ‘ Street. Job Printinz ‘ OF: EVERY DESCRIPTIII Emonrzn AT rum GAZETTE OFFIGE SCHLEIOHER & Son’s. other on. the market. ~ ~ ,I’DLEAD. when it comes to TONE. _ DURABILITY. k s , RIGHTNESS IN PRICE." . - crimson), .00 Nu -_~ , L's lPI IAINIOS; There is simply no use comnaring this piano With any I . «Office and Factory,~ Pacific Street. .- _ I a )
Norwalk Chronicler