Monday, Nov. 16, 1925
Creed
In Chicago are many famed bankers. Some of them are: John J. Mitchell, Illinois Merchants Trust Co.; George M. Reynolds, Continental & Commercial Trust & Savings Bank; Frederick Rawson, Union Trust Co.; J. W. O'Leary, Union Trust Co.; Oscar Foreman, Foreman Bros. Bank; David R. Forgan, National City Bank of Chicago; Lucius Teter, Chicago Trust Co.; Saul Smith, Northern Trust Co.; Charles G. Dawes, Central Trust Co.; F. T. Haskell and Ernest Hamill, Illinois Merchants Bank.
But most important of any is John J. Mitchell, President of the Illinois Merchants Trust Co. Last week, on the walls of his bank, in gold letters several feet high, he set up a creed. The mural apothegms were none of them original, but they added no mean lustre to the commemoration of Banker Mitchell's 72nd birthday, his 52nd year in banking. They ran as follows:
No. 1--"All the progress of men and nations is based upon sacredness of contracts."--C. W. Barron.
No. 2--"A fertile soil with industry and easy transportation for men and things from place to place makes a nation strong and great." --Bacon.
No. 3--"Human wants can be satisfied only by goods abundant and cheap, and these can be made with high wages for efficient production."--Leverhulme.
No. 4--"In the family, as in the State, the best source of wealth is economy."--Cicero.
No. 5--"Capital is what you and I have saved out of yesterday's wages."--Hartley Withers.
No. 6--"The wealth of a nation is not in prices, but in production and reserves in store and service." --C. W. Barron.
No. 7--"America has a system of banking which surpasses in strength and in excellence any other banking system in the world."--Sir Edward H. Holden.
No. 8--"Private credit is wealth, public honor is security."--Letters of Junius.