An "Amateur” Banker.

Gisborne Standard and Cook County Gazette, Volume I, Issue 11, 5 July 1887, Page 4

An "Amateur” Banker.

Here is a good story—and, moreover, every word of it absolately true, at least an English paper states so. A native of one of the South Sea Islands went to England, studied there, and returned to his native Island as a missionary. When in England he had exercised his powers of observation, and was struck with admiration at the English banking system, amongst other things. When he got home again he thought it would be a fine thing to start a Bank, and consulted a resident European merchant about it. The latter conceived that it might encourage habits of thrift among the natives, and assisted his young- friend to make a start by depositing £5O in the Bank. Several years rolled by. Hard times came to the merchant, and he bethought himself this £5O, which at so per cent, interest—the rate agreed upon he expected to find nearly doubled. So he went to the banker-missionary, and said, ‘,How does my account stand ?” “ Oh,” was the expected reply, “it’s closed.” “’How is that!” demanded the astonished merchant. “The deposit is eaten up with interest,” explained the amateur banker. Further inquiry elicited the information that the banker had been charging his customers io per cent for keeping their money. That was his idea of “interest,” and it worked out admirably—for himself.—Budget.