The Massachusetts spy, and Worcester County advertiser. [volume] ([Worcester, Mass.]) 1825-1831, 1828-07-23


be, and probably is, estimable. We speak only
of his obscurity, which his own letter shews,
that he is, himself, as fully sensible of, as the
public are. OF his ability and intelligence g, we
know nothing. Were they but 1.-THE of what
they probably are, they would be fully adequate
to the discharge of any duties that will ever de-
volve upon him in consequence of his recent
nomination.
IYsTIrUTIoN FOR SAVINGS. The Worcester
County Institution for Savings is now in ope-
ration. To those acquainted with the charac-
ter, design, and success of similar institutions,
IN Europe and in this country, nothing need be
said oft By way of recommendation. But the
great mass Of those, for whose benefit it was
more particularly designed, may not be so well
informed. The rules, however, on which it is
to be conducted, have been laid before the pub
llc In the newspapers, and are in the possession
OF the Trustees and other members of the Insti-
tuition residing in the various sections of the
County.
In the first place it may be remarked that it
differs from all other institutions, of which
money is the basis, in this, that it is intended
for, and calculated to promote the interests of
the poor rather than the rich. To ALL however,
who may choose to avail themselves of it, it
affords promise of at least reasonable COM
pensaten for the use of their deposits-fcur per
cent. per annum Internationally, and further
dividend at the expiration of every period of
five years, to be paid to all whose deposits may
have lain for one or more years, of whatever
additional profits may have accrued during the
preceding five years. Deposits are received of
any sum from one dollar to five hundred al
though no interest is allowed on smaller sum
than five dollars and no fractions of dollars are
received; and these deposits may be made from
time to time as convenience may permit The
funds thus accumulated by numerous small con-
tiibutions, are invested with careful regard to
safety and productiveness, and cannot fail to
produce greater income, to be equitably dis
tributed to the several depositors, than would
probably be realized from any appropriation
which could be made of them individually
That it is calculated to be extensively useful,
cannot be doubted. In population like that
of Worcester County, there arc thousands
whose interests would be promoted by availing
themselves of the facility it affords How
many are there in the community, who, in the
want of some safe and accessible depository, are
tempted to an appropriation of the small pro-
ducts of their industry i'll way which prevents
| their deriving any essential benefit from IT at
another and more necessitous season. How
many, whose hard earnings have been expend-
ed in the purchase of blank in lottery, or in
some other mode equally deceptive and unprofit-
! able, might now be honestly exulting in the
possession of both principal and interest," if such
a mode Of investment had been open to them,
and they had had the prudence to resort to it.
To all such, in common with others, it is recon-
mended to lay foundation for state of com
paratice independence, by depositing such a
portion of their gains and savings as they can
conveniently spare, in this institution.
! These remarks are Of course predicated on
! the supposition that full confidence may be re-
| posed in the fidelity and good management of
those to whose oversight the concerns of the
institution are committed; and that such conf
dence may be safely reposed, it is presumed no
one will doubt.
| We are sorry there should he in our vicinity