The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1819-08-04
sDisreltanp.


not being generally understood by tina, part
Of thc community the Least informed, was
fearful that the Dcw project in our city wooM
not take or that h would meet with power
fnl obstacles. em extremely happy 10 find
that was in error, ond that this admirable
guardian OF the poor, industrious, and ccono-
snical, will most assuredy thrive, and pro-
tucc great blessings. fad, however, that
The operations OF this Bank arc not vet fully
understood; aud that on idea prevails that
Lack notes ara 10 be issued, speculaIions set
en- foot, discounts Effected, bad debts created,
aud bankruptcy bearded by no means,
Oliver, said l, 20 my old domestic, who came
90 me with 8 200 Of his earnings, 10 depost
In this Bank there is no usquc in this Bank,
there is no loss TO Lc iocur,ed, for If there
were, the objects Of The Bank, which arc to
preserve and secure deposits, would then be
destroyed.
{" Save the pence" says nv old friend Ben
}amln Franklin, and The pounds viii take
care of themselves" I took walk 10 the
institution TO see the operations Of The new
Bank found the directors all good morsl
men, worthy of conideace.---So far all was
right; and took my stand near The entrance,
10 notice tho characters who approached.
fisst saw protiy little scrvao, girl, Of nbo,',
is, who had ofion seen o, the house of my
friend, Mrs. Clover, in Hadson-strcc,, and
admired also for her cleanliness and good do.
pertinent. Ah, Katy, said r my pretty maid,
where are you going, and what have you lied
Up IN that blue cotton bag Why, M, How.
ard, said she, with smile, which displayed
her Zoe teeth, hsvs forty dollars here, which
have saved f'om my wages, and am going
70 deposit IL 10 the Bank. Indeed forty dol
lars; why you have bcen very economical,
said /. Why, said she, receive siE dollars
month, and find tha, can save fur OF IL;
DOW four dollars saved o mon!h makes very
near SO dollars year. am only Is sup.
pose dsposi, SO dollars yearly from my wa
ges foften years, whcn, II l live, shall be
&c years old; why, what, with in,cres, &C.
camulaiing upon ioso,cst, shall have general
hundred dohars al my commend: quito little
tortuoc 70 begin the world with, and some
Thing handsome towards housekeeping should
marry. Excellent, said I, giving her an
shectionate shake by the hand, and adding u
two dollar City Back note TO her stock; you
calculate like little philosopher, Katy, and
you must do well. She entered the bank !;
and sharty after perceived Cuff, my BOO.
cleaner, with a row Of polished bools arrang.
I'D OH his pole, which he was carrying home;
no also stopped and took out rsgged pocket
book and counted some bank notes. WhM
are ynn going TO do With that money, Cuff
said 1! Why, shall deposit it In the Sav
jngs B,nk, said he.---I find shat I can lay by
q 100 per year. and IN ten years l shall DO
sble 10 buy little farm and be comfortable
A my old age. Excellent again, said ;
hsso's poor unedacated African, who tolls
for his daily bread, and yet, 10 this good coun-
tsy, he can, by indus,,y, lay by securely,
enough. to make him happy when tho even
ing OF hia life approaches. See the benefit
af those good institutions. A clerk from
Chatham street next approached; had
\ known him TO be in extsavagant young man ;
ho csms 10 make smail deposit How
Aow, Robert, said l. have you any thing to
kp~c. which you are disposed to lay by !?
kWhy, sir, said he, have been six years a
olesk, and found, after paying all my ncces.
69sy oxpences, that had s 400 dollars per
XSSs over, which, bad not spent extrava-
Sntly and needlessy, should have had, at
nsiday, upwards OF g i2so to begin busi-
ness With. Now, sir, I'm determined to
ktpto ovcr u new leaf, and, instead OF spending
Kl1moncy In pleasure, 1 shall lay il up, ond
time, secure to myself competence.
{ser him came vseic,y OF persons with
u6sn and large deposits, anc choerfuily left
&thsfp at tho Bank, with the hope that the
xo!a hcne6,s which the Institution held forth,
Would induce many to follow their example.
I.cnms away highly pleased at the prospect
36vSiew, and have no doub, OF It's success.
(;bsrc Is one thing which should not omi,
'yl60cing, and that is. the importance OF hav.
'She directors always as correct and hon.
6r>bsovss the present board now is, for the
.is awfully responsible II tisuot tho rich,
he poor aud indus,rious who will su!fsr
he Improper specuiaiioos Of the direc.
these shouldSbc seldom changed and
hys rau;iously selected, and the very best
|56rk should DO purchased foe the sums dc
s yir ltst 50 that no possible risk might DO in.
/. ..chtrcd Establish confidence on surc basis,
xodlit nssor will bs shaken.
-.~0;-n~-