Feilding Star. SATURDAY, MARCH 8, 1884. A Caution
* From time to time we have seen in several of our exchanges paragraphs in which cautions are attempted to be conveyed to tradesmen and others against certain bank notes, which are said to have been altered from a lesser to a greater value denomination. Our contemporaries do not appear to know that the said paragraphs, mentioning as they do the name of the Bank issuing the notes, are damaging to the note circulation of that Bank, and consequently libellous. Note circulation is at all times very sensitive. The least suspicion excited in the minds of the public as to the genuineness cf the notes issued by a Bank may be followed by the most disastrous results. Too much caution, therefore, cannot be exercised in originating or circulating reports which may be injurious to the credit of any of our money institutions. It is a fortunate thing, in this respect, for the Colony that " a run " on any one Bank is now practicably impossible, owing to the prudent manner in which all note issues are managed by the various in stitution s On the other hand, a panic might lead to "a run" on the people by the Banks, and when it is remembered that the general indebtedness of the people to the Banks may be said to exceed that of the Banks to the people, there can be no two opinions as to who would suffer. All so - called cautions and warnings to the business public as to exercising care in receiving and giving value for spurious coins, altered or forged bank notes, valueless cheques, &c, are shown by current events to be worthless. Experience is the only preceptor. A tradesman who takes a bad shilling nails it to his counter ; it is never forgotten then. While it is the duty of the Press to give all possible publicity to cases of fraud or imposition, jet it cannot exercise too much care in giving "warnings" which, apart from exciting the fears of the credulous or weakminded, serve no useful purpose.
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Bibliographic details
Feilding Star, Volume V, Issue 28, 8 March 1884, Page 2
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348Feilding Star. SATURDAY, MARCH 8, 1884. A Caution Feilding Star, Volume V, Issue 28, 8 March 1884, Page 2
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