Page 5, 2nd November 1951

2nd November 1951
Page 5
Page 5, 2nd November 1951 — Financial tips for bankers
Close

Report an error

Noticed an error on this page?
If you've noticed an error in this article please click here to report it.

Tags


Share


Related articles

Be Generous The Pope Tells Bankers

Page 1 from 2nd July 1948

"catholic Herald" Book Of The Week

Page 4 from 24th June 1938

Statisticians, Businessmen, Youth

Page 5 from 18th September 1953

Holy Father Addresses Historians

Page 1 from 9th September 1955

The Pope Breaks A Rule

Page 1 from 4th August 1939

Financial tips for bankers

BY THE POPE

THE Holy Father offered some practical advice on capital investment and money-lending when he addressed 400 hankers from 46 countries at Castel (randolfo last week. The bankers had just concluded an international conference held in

R n

The Pope began with this pointed reference to what he called " idle money ": " There will always he pleasure-seekers and wastrels. just as there will always be misers and people who are narrowly cautious.

" But there would be less of both if owners of capital, big and small. could be persuaded to invest it wisely and profitably."

Help of credit

His Holiness suggested that if simple depositors were given the chance of owning stocks and shares —thus becoming " collaborators in industry "—this state of affairs could be remedied.

About the normal risks involved in lending money for backing new undertakings. the Pope stressed the need for sound discrimination between practicable and utopian schemes. But he added this warning: There have been in the past many men of genius — intelligent industrious and generous beings — who have died in poverty and discouragement, leaving behind them ideas which others shrewder than they have known how to exploit for their own gain."

Bringing the argument to hear on the present, the Holy Father added: "1 here are also those who run into difficulties through no fault of their own: through sickness, a had year, crops that have failed, or losses sustained in war or by revolution. With the help of credit, such people can recover and in time pay off their debts."

In a crisis

Finally, the Pope touched on the vital role of capital investment in times of unemployment and labour crises:

" According to the amount of capital invested in this way, the conscientious worker will find a job more easily, rising output will make slowly but surely for economic equilibrium. and the many hardships and disorders resulting from unemployment

will be overcome to the great benefit of a sound family, social and moral life."




blog comments powered by Disqus