Indianapolis Times, Volume 35, Number 62, Indianapolis, Marion County, 22 July 1922 — Page 3

JULY, 2 % 1922

ONE MINUTE T ALKS on BANKING By James M. Mclntosh, President of The National City Bank.

[This is the first of a series of 1 “One Minute Talks on Banking,” which will run each Saturday in The Times during the month of July. J “Enclosed Find Check” Modern civilization knows no phrase : of mightier import than these three short words. Around them is wrapped the romance of centuries of w banking devetopment, the rise mighty nations >4 and the entire ■?* # mechanism o f \ t modern banking The word bank is traceable to mmm public loans made by the . Italian cities in m : P medieval times. The usual Itallan term of a public loan was ■'monte” signifying a joint stock fund. The Germans were influential in Italy during the middle ages, especially about the time when a forced loan of one per cent was levied by the city of Venice in 1171 on all the property of all citizens. Their name for a joint stock fund was banck, meaning a heap or mound, which the Italians converted into banco and used as a term for an accumulation of either stock or money. Hence our word bank has come to us almost intact from the early Teutonic word banck but with a different interpretation for today it means the place where the money is kept and not the money Itself. Banking and Commerce Throughout the centuries of development, banking has furnished the motive power for commerce. And it is Interesting to note that those countries where banking had its greatest development were without exception leaders In commerce and military power. Greece, Rome, France. Germany, England and the United States —it sounds like a catalogue of the leading military nations of history. Then it is only a natural conclusion that banking development has been greatest during periods of war activities. Napoleon formed the Bank of France in 1800 to make more solid the financial backing for his military ambitions. The Bank of England was formed in 1694, for the purpose of assisting the fiscal operations of the government In Its war with France. The Bank of North America, the first bank of importance on this continent, was founded by Robert Morris at Philadelphia in 1781 In the hope that it would give financial support to the young republic. His task at that time was to untangle the financial web left by the revolution. Our present system of national hanks came into existence in 1864 as a direct result of the unsatisfactory financial conditions which prevailed during the Civil War. Then again our latest development In modern banking. The Federal Reserve System. came during the earlier stages of the World War. The Modern Banker The American banker of today has written for him on the pages of history the mistakes and strong points of all past banking systems. He knows what to avoid—what to use out of that history as he reads. That is why the dollar is the monetary standard of the world today and the United States Is in the lead among the financial powers of the world. But to the person who stands before the teller’s window of a modern bank and looks in at the complicated yet smooth working machine the bank has an appearance of mystery. He admires but he does not understand it. Many business men fail to utilize the banking resources of this city to best advantages because they do not appreciate the true relation which banking bears to business. As a matter of fact ' the fundamental work of a bank Is extremely simple. It Is merely taking the funds which have beer, paid in by stockholders and deposited by provident people and turning them over to the enterprising men of the city for productive use In the building of Industry. My understanding of the purpose of this series of talks on banking is that the writers are to treat of the banks from without, to show how they touch the interests of the city and to get the point of contact from the customers’ viewpoint. I have deviated from this purpose because I believe that in order to appreciate the modern bank—you have to stop and consider the extended growth of banking and the powerful nations that have arisen because their banks were strong. COMPROMISE FAILS Intimate Details of Camp Love Affair Promised in Court Session. By United Presa CHICAGO, July 22 —W sltIbxs over the 1350,000 trust fund given by Mrs Katherine Gordon Thorne to her former husband. William C. Camp, will reopen Monday. Intimate details of the love affair which led to the marriage of the widow of the late vice president of Montgomery Ward & Cos. and the wellknown "man about town” were scheduled. It is understood that Camp offered to accept $175,000 to close the incident. Mrs. Thorne is said to have virtually offered $120,000. Neither side would compromise. Form Legion Fost Articles of association for Clinton Post No. 140, American Legion, have been filed with the secretary of State by Mark E. Nebeker, Jap F. Swayne, L M. Case beer, R. M. Holgren and Barry X* Brown.

"What Does Banking; Mean To You 9

PROGRESS in banking means first of all expansion. To meet adequately the demands of business and the public, to enlarge its sphere of usefulness to the fullest extent is the duty of every bank whether state or government controlled. BUSINESS is on the up-grade and seems to face a steady climb to vastly improved conditions. Progress toward those conditions will be rapid or slow in proportion as the people and the banks earn the confidence of each other by a mutual understanding of each other’s progress and problems. The banks in the list below believe that the preservation of confidence through the encouragement of sound understanding and business practices warrant at this time a series of public messages to let the readers know wherein the banks can benefit you. V THERE are thousands of people right here in Indianapolis who are not bank depositors for no other reason than that they know so little of the truth about our banks. It is to correct these twisted and warped impressions which sometimes prevail that this series of bank talks and advertisements was planned and these powerful banks are co-operating in making this series useful to you, as a reader and a citizen. THE extensive facilities of these strong, reliable, conveniently located banks are at your sendee. You need the advice of bankers now, as never before. THE officers of these banks are not figure heads: They are for your use; their “yes” or “no” means much to you and they want to become better acquainted with you and your problems.

City Trust Cos. Continental National Bank Commercial National Bank Fletcher American National Bank Marion County State Bank

This advertisement is the first of a series paid for by the several banks above to cultivate a better understanding of banking and bankers. By so doing, they are building the financial and industrial strength of the future Indianapolis, by giving you knowledge of just the banking service you need.

THE INDIANAPOLIS TIMES

National City Bank The Peoples State Bank Security Trust Cos. J. F. Wild State Bank Washington Bank & Trust Cos.

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