The Light Of Reason; Showing The First Step The Nation Should Take Toward A Social Order Based On Justice by Abraham Benjamin FranklinThe Light Of Reason; Showing The First Step The Nation Should Take Toward A Social Order Based On Justice by Abraham Benjamin Franklin

The Light Of Reason; Showing The First Step The Nation Should Take Toward A Social Order Based On…

byAbraham Benjamin Franklin

Paperback | January 31, 2012

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899. Excerpt: ... SOCIETY.--XVI, MONEY--BANKS--SAVINGS FUNDS. A banker is just a plain, ordinary every-day citizen who has money to loan. And if it be other people" money rather than his own, which usually is the case, Bo much the better--for the banker. We are apt to lose sight of these facts amidst the elegant appointments of the counting room, but we are reminded of them, when, every now and then, the doors of some supposedly substantial bank close, and but a few paltry dollars remain in its money vaults to be distributed among a host of depositors as souvenirs of the beaiities of modern banking, Commercial banking is essentially a competitive pursuit. Its main characteristic is taking increase for the use of a tool, and is not a vocation in which the people collectively ought to engage. Were all banks abolished to-morrow, those wanting to borrow money would be compelled to seek out individuals in the community who have money to loan, so that as long as we continue competitive methods of doing business, the sign "Bank," by which these gentlemen make their whereabouts known, is really a convenience. Such concerns would be designated banks of loan and discount, their proprietors woixld do business on their own capital, and in case of failure which could only occur through injudicious loans, or speculation outside of legitimate banking, no one but themselves would be at a loss. But, as part of the competitive commercial methods which society has sanctioned in the past, the moneys of the people finds its way into corporate savings banks and other privately owned financial institutions for safe keeping, and it is a notorious fact that for the return of such funds depositors receive no guaranteed security whatever. The receiving of the people's money on deposit for safe keepi...
Title:The Light Of Reason; Showing The First Step The Nation Should Take Toward A Social Order Based On…Format:PaperbackDimensions:44 pages, 9.69 × 7.44 × 0.09 inPublished:January 31, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217556124

ISBN - 13:9780217556125

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