How Bank Serve Business, Vol. 16 (Classic Reprint)

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Excerpt from How Bank Serve Business, Vol. 16I was born on a farm - a fairly good farm, judged by the standards of the neighborhood. I was one of several children, each of whom fitted into the do mestic economy and performed certain activities help ful in making the family balance sheet show a credit balance. But the sun was hot and the long-drawn out days of summer were a tax upon youthful eu durance. They furnished no inspiration to youthful enthusiasm. The extreme cold of winter was per haps even a severer trial, tho at that season the fewer hours of daylight curtailed the working day. I found myself longing for a field of activity that had a greater vista and one which with fewer intermedi ate hardships would take me farther in the end. I noticed that the bank did not open until ten o'clock in the morning and that it closed at the early hour of three in the afternoon. That fact appealed to me strongly. I felt that I would be Willing to endure almost any amount of labor for such a limited num ber of hours. I promptly decided that I wanted tobecome a financier and dispense credit and exercise the power incidental to such a position.In the course of time I did become a bank presi dent, but long before that time I had learned that a banker's activities are quite as intense as the farmer's, and that they cover just as many hours, that altho the bank does not open to the public until ten o'clock, its clerical and official force must, before that hour, have disposed of all the exchanges, the checks and drafts that represent the financial transactions of the preceding day together with those which the mail has brought in to be paid or collected, as the case may be, in the interests of the customers of the bank. I thus learned that a period of intense business activity preceded each day's opening of the bank.I also learned with what extreme care the day's work must be conducted, that each banking day is complete within itself, that the debits and credits of the general ledger must be equal in order to prove the accuracy and correctness of the day's work, and that the difference, should any exist, must be run down, since differences carried over from one day to another would only make confusion worse con founded and would deprive the books of their value as a true record of the bank's relation with its many customers - the public. In short, I learned that ac curacy as well as intensity characterizes the work ing mechanism of a successfully administered bank.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.