The Secret Of Wealth
132 total pages.
Banks have been provided in this Country so that money may be deposited in one city and checked out in any other city in the purchase of goods or the payment of obligations. It should have startled the whole Country when it was announced in 1921 that there was a billion dollars in currency in this Country which was not in the banks. Since this was disclosed bank deposits have increased and some of this money is now practically safe from thieves or loss. "Money amassed either serves or rules us."-- Horace.
CHAPTER XX "Our grand business is not to see what lies dimly in the distance, but to do what lies close at hand." --Carlyle. A WOMAN who has been saving money boasted of the fact that she had seven one-hundred-dollar bills hidden in the house. Her husband and son are in business which requires credit and they are both borrowers at the bank. It has probably never occurred to this woman that her seven one-hundred-dollar bills deposited in the bank would provide about $5,000 in credits and thus ease the credit situation for her husband and son. A working man secreted thirty-one hundred dollars in bills and lost his job because his employers could not borrow enough money to carry their payroll through the fall season. This man is now spending part of his thirty-one hundred dollars, while he might have kept his job and his money might have been in the bank earning for him nearly eight dollars per month compound interest. The woman's seven hundred dollars and the worker's thirty-one hundred dollars would not have, in themselves, eased the credit situation, but this woman and this worker are only two of thousands of people who have thoughtlessly done the same thing. All of the money in circulation amounts to only $40 per person, so if every person secreted or carried about with him $40 there would be no money in the Country with which to transact the business. There would not be a dollar in any of the thirty thousand banks; there would not be a dollar in the cash register or till of any merchant. Every business would have to close up and quit and the government, the states, the cities and all corporations and firms would go into bankruptcy. This is what would happen if each person had $40 in money in his pocket or hidden in the house. And yet many misguided people are holding hundreds and thousands of dollars out of circulation, causing a loss to the whole Country but the greatest loss to themselves.
| 
The Secret Of Wealth