Publisher's Synopsis
Excerpt from The Banker's Common-Place Book
The Profits to a Bank from its Bank Notes and Deposits. - A bank which should possess a capital limited to a hundred thousand dollars, could lend only a hundred thousand dollars, if it possessed neither bank notes of its own creation, nor deposits of other persons' money hence, such a bank could gain but six per cent. The year on its capital, if its loans were made on securities that would mature ixl sixty days, or but seven per cent. If its loans were made on longer securities. But from this six or seven per cent. Would have to be deducted, the salaries of the bank's officers, the rent of its banking house, its stationery, el, taxes, &c., so as to leave of its income, to be divided among its stockholders, not more than from three to five per cent. The year, a dividend smaller than the productiveness of capital in other occupations, and, consequent ly, destructive to the continuance of banking.
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