Jasper County Democrat, Volume 20, Number 90, Rensselaer, Jasper County, 9 February 1918 — When Banks Are Closed-Holidays that Delay World's Business [ARTICLE+ILLUSTRATION]

When Banks Are ClosedHolidays that Delay World's Business

New York City’s Financial District Decorated in Honor of a Foreign War Mission. Only 84 Days in 1918 in Which the World's Business Is Not interrupted Somewhere by Holiday* and Sunday*.

By GARRET SMITH.

WHILE man plays or prays the world’s business will be Interfered with on 281 days during 1918. In other words, there will be only 84 days in tills coming year that are not Sundays or special holidays in one or more important commercial regions of the earth. Nor is this an unusual condition created by the war. We are accustomed to jump remarkable conditions into the category of war evils these days. On the contrary, some of the lighting nations have for the time being stripped their decks of minor and unusually superfluous holidays. Ever since man was condemned to earn his bread by the sweat of his brow he has been putting in a lot of spare time trumping up methods of beating the game. Next to working into the boss’s job the Invention of the holiday has been one of his ablest little achievements in this line. Likewise ever since bosses and holidays evolved, along about history's sunrise, the former have been cursing the latter as troublesome breaks In the year’s work. By the Middle Ages holidays had become so numerous that they seriously Interfered with industrial pursuits. A valuable result of the Reformation not generally appreciated was the abolition of a large portion of these holidays. But as time went on pojitlcal and religious milestones accumulated again. Today, while the year’s overload in any one country is by no means as serious as In the Middle Ages, the growth of International finance has made the world’s aggregate of closed days a serious factor and an expensive one. Not until now, however, has any attempt been made to compile an exhaustive list of holidays for the guidance of bankers and meichants. This task has just been completed by the Guaranty Trust Company of New The results have been published in a booklet that should be a valuable addition to the reference library of every bank in the country doing more than a purely local business. Importance of Bank Holidays. a bank has a commefCtiHpaper collectable in PeklngbKAthens •r Cape Town on January 5. It £

Important to know whether the bank in that particular city will be open that day. Does any one around the place know whether January 5 is a bank holiday 4n Peking or Athens or Cape Town? Usually no one does. It’s hard enough to keep tabs on the 54 holidays rampant in these United States. It therefore becomes necessary to send an expensive cablegram to get the information. This sort of thing happens not once, but many times, in every banking house with an extensive foreign business. Among the holidays established by custom the occasion Is generally the anniversary of an Important political’ r.vent or the birthday of a national hero. Such holidays are therefore lo*cal,—SVhlle church holidays are for the most general. The former class prevails in the newer and more democratic countries, while the older ones confine themselves largely to the church fasts and festivals. Where Holidays Are Thickest. Contriiry to the popular notion, the new democracies of the west enjoy a greater number of holidays than their sister nations of the eastern hemisphere. Of the 97 nations or dependencies listed Brazil leads, with 84 holidays. The United States, with 54, is a close second, although she, unlike Brazil, practically ignores the church days. Another popular delusion is shattered when we find that France has only 18 formallj’ observed days and Italy only 23. We had supposed the Latins always outdid us la this particular. Among the other belligerents Germany, it is presumed, will observe 20 days next year, Great Britain 16, Japan 15 and Russia 17. In most of these countries numerous local holidays ordinarily observed have been abandoned during the war. The study of holidays is fascinating to the historian. Those of our own country offer a particularly rich field. If one knew the meaning of all the half a hundred days celebrated In the United States, with the collateral events connected with each, he would be well versed In the nation's history. One of the first surprises in store for such a student is to learn that the United States has no national holiday. The reader will at once think of Fourth of July and of the President’s Thanksgiving proclamation. But not even these are national. Acts of Congress and Presidents’ pronouncements in this respect apply only to the District of Columbia and the territories. The states usually follow suit, but as a matter of custom only and not of law. Here is a chance to win some bets from your friends. America’s Red Letter Days. American local holidays are rich in historical significance. Of such are the commemorations of Bunker HUI and Bennington and New Orleans and San Jacinto; the all but forgotten Fast Day of New England, still surviving In New Hampshire; Patriots' Day to Maine and Old Defender’s Day in Baltimore, Pioneer Day in Idaho and the various Admission Days popular with other Western states. Confederate Memorial Day in the South, together with the birthdays of Lee and other heroes of the Confederacy. Two states have Independence’Days of their own. Texas observes her separation from Mexico on March 2. Nortli Carolina conunemorates the Halifax Independence resolutioiM on April 12 and the Mecklenburg declaration on May 20. It remains for Frederick county, Md., to celebrate all alone the repudiation of the stamp act, one of the most local celebrations of an Important national event on record. Among the favorite months for holidays the world oyer November leads,

with 26 out of its possible 30 days. May comes next, with 25 and an additional Sunday not otherwise celebrated, thus actually tying November In the number of days closed to business. March, on the other hand, is the longest all around business month, having only 19 holidays. Thus at least two-thlrds of every month interferes with the free play of international business. Even such generally observed festivals as Christmas and New Tear’s Day can't be depended upon by the banker without consulting the international calendar. New Year’s Day is the only holiday universally observed. But, alas, it falls on 11 different dates to different parts of the globe, and some countries observe more than one of them. An exhaustive study of these New Year celebrations would give one a pretty fair knowledge of the ancient history of the world. Curiously enough, one of our own states, Massachusetts, does not make this a legal holiday, though her citizens generally observe it. Where Chlstmas Is Not Observed. Christmas Day, due to its religious significance, is not so generally observed as New Year’s Day. It has, moreover, only three different dates. It was not generally observed on December 23 until the fourth century. The early church, lacking any authentic knowledge as to the date of Christ’s birth, celebrated it without uniformity in May, April and January. The Armenian Church still observes January & Why the December oate was finally selected is uncertain. Some see In it a displacement of the Roman Saturnalia; others declare it a survival of the Feast of the Winter Solstice, and still others point to Its coincidence with the old German Yuletide Feast. Countries where the old style calendar prevails stfll celebrate January 7. In the Puritan days Scotch Presbyterians and English Non-Conformists rejected Christmas Day altogether as “savoring of papistry.” and in NewEngland Thanksgiving Day was devised to replace it It seems a curious thing that there are today Christian countries where It is not observed legally. Such are Norway, Panama, Peru. Portugal and the South African Union. The last named, however, still observes the old English Institution of Boxing Day on December 26. This wSs the day when the English gentry, having had their own Christmas celebration the day before, turned their attention to the poor by presenting them with Christmas boxes. The day later became the day for general giving of Christmas gifts. Portugal Drops Traditions. The only country on earth a study of whose holidays reveals little of its political, racial or religious origin is Portugal. The first attempt to establish a republic in Portugal was made on January 31, 189 L This Is reflected in Its calendar of holidays, which runs: “January 1, dedicated to universal brotherhood; January 3L dedicated to the memory of all those who fought and died to establish the republic to Portugal; May 3, in memory of the discovery of Brazil by the Portuguese; June 19, municipal holiday at Lisbon; June 24, municipal holiday at Oporto; October 5. the date of- the establishment of the Portuguese republic; December L Flag Day, to commemorate the Independence of the country; December 25, Family Daj.” These brief notation® en holiday* touch only their distribution and dates. Back of these lies a wide field filled with quaint and curious information relating to the manner «t eutebratlng them.

French Citizens Celebrating the Fall of the Bastlle.