Loans to professional or salaried men cannot be considered desirable from a banking point of view, or from any point of view for that matter. Even where the applicant is possessed of private means, a loan of this nature is more or less objectionable according to its object and the understanding as to final payment. The money may be locked up in some undesirable venture, and tho sure of ultimate payment the bank is confronted with the alternative of carrying a dead loan or, by enforcing payment, making an enemy of a desirable citizen.

Loans to men who depend entirely on their salaries and professional earnings should not be considered except in very exceptional cases. If a man cannot live on his salary he cannot hope to pay off an indebtedness in addition. The loan is either intended to discharge another indebtedness or to purchase something which cannot be paid for out of future salary. Credit is a good servant and a bad master, and many men in these days of competition, both social and otherwise, are induced to "keep up" with their neighbors, to purchase automobiles, and generally to live in a style beyond their means.

Retail merchants frequently offer this class of paper for discount, and the objection to this is even more pronounced. If a man cannot pay for the necessities of life for his family there is not much likelihood of his being able to pay off a debt.

These remarks are not intended to apply to worthy people who have suffered misfortune, and to whom every consideration should be shown, but it does refer to people entirely dependent upon moderate salaries, received with a regularity which renders credit unnecessary.