Cum mkNi lmi mi tin' lab* bank faibin* in
Now A <*i U, llio Nt Louis (Hobo I loiuoti.it
says: ”The rooonl bank swimllo in Now
York presents .i now form o. ■ iscality. and
admonishes (ho country that it is never
safe to think that all the expeilients of
eoiniiioroial treachery amt robbery have
lieen practiced ami exposed. It is well
known that confidence in the personal in
tegrity of bank officials is really the basis
of the hanking business. The depositor
has no means of telling how much or what
kind of security is posscssod by the bank
to guarantee the payment of 1 1 i-• money
when he calls for it. (U puts bis faith in
the men who are managing the institution,
and looks to them rather than to the capi
tal which they repu ent for the safety of
the funds which he confides to their care.
A relation of a fiduciary character is
thus established. The otficeis hold in
trust the property of people who rely
upon their individual honesty, pru
dence and sagacity. That kind of a trust
is one which a man lias no right to
sell out. for he thereby changes the
security of the depositors without their
consent, and transfers the custody of
their property to parties whom they have
not authorized to handle their money.
