InsaneJournal

Current mood:

amused

Clever idea

I ought to write about something from my own life, but I'd rather share this anecdote that my father told this evening.

My grandfather was a bank teller to rather rich people during the Great Depression. Banks were collapsing for reasons similar to now; people were taking out more money than they were putting in.

Customers came to his bank in particular, asking for their money back. Typical practice was to give the customer a cashier's check for the full sum if it was over a certain amount, in order that they not be mugged on the street. Al (my grampa) was a perceptive man, and saw that his bank could end badly if every customer closed their account. He asked his boss what to do.

His boss said, "Give them their money. In cash."

So he did. He saw the wisdom of this plan shortly. The customers would take their money, say, $50,000. That's a lot of cash to carry; several pounds worth even in hundred dollar bills. The customer would walk across the lobby and get to the door, where he would see hungry people outside who probably wouldn't mind having a load of cash in their pocket.

At this point they would usually have second thoughts about carrying so much money about in such an economic climate, and re-open their accounts.