Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1829-06-02
COMMUNICATION.

had more time, and had improved j., by going
more fully into the matter. Because 1t would
have saved me tn. trouble of writing my "poor
Thoughts" this very warm day. BY the way
Mr.. Editor, 4 do sympathise with you, who have
10 write some every day, and upon such a'arir-
" Of subjects, whether prepared or unprepared.
come back - our Savings Bank, and here
take 6rmer hold Of my goose quill, determined
TO keep it to this subjec, n can. And here
Two or three questions arise. As hrs,-Hsw
is the said Bank 20 oe constituted; I'll tell you,
let those who feel Interested in its establish
men; have meeting, aud let not our good tree
holders frown il some ofu appear there in rags.
Well, after The meeting is organised and the
object explained by the Chair, let A. B. move
the following, Resolved that il is expedient 10
Institute a Savings Bank in this town.
This Resolution may be carried 1.-THE meet
log please without debate, aud then we shall be
ready TO hear the following from {. d. Resolv-
ed that committee OF persons be appointed
10 prepare and repor, to this meeting the bcs,
plan for conducting the Saving Bank.
The committee being appointed, viii proba-
bly, ask the NEE ing TO cfier their views upon the
SUBJECT, and if l am there, aud no other person
is forward TO speak, may make speech" 10
this effect
"Mr Chairman,
am no great speaker, but a, the committee
request it, I viii offer few thoughts, with
grea, defFer-nre to ,he superior judgment In
my opinion sir, il would be best tn many &C
counts, that The proposed institution should be
connected with one Of the Chartered Banks Of
Our town: az least so far as TO be under its SUI
pervision. And am Of opinion that i, would
be advautsgeous to either Of our Banks to hav,
this connected With il. Because, even if they
allowed = pr cent upon deposits, they could
realiz, per cent profit, after paying an ex-
ira Clerk, or if they allow 5 per cent only. as
the Bank in Washington now does, they might
make per cent. Which is Et'le enough, con
sider,ng the risk There can be no doubt, il
this arrangement can be made, iha, il will make
the institution more permanent and popular
than il would be on any other plan. And e,i>
DENLY it would be the most economical PLAN
For suppose we constitute a board Of Direction
10 manage for US. and they should, like the Di-
rectois Of the Savings Bank 10 New York, rem
der their services graluitously-s,ill the rent
and flung UP house, The purchase Of books,
the pay Of Clerk, and incidental expenses
would he very considerable. Several items of
This expense might be spared il one Of the
Banks would take the whole management. So
much Mr.. Chairman for the loo alton Of he insli.
tuition; few words row respecting the princi-
ple upon which II should oe conducted.
ls,. Deposits nf any sum, from dollar and
upwards should be received, provided that no
persop shall deposit more than $500 in any
one year
end Interest at per cen, should be allowed
on all monies deposited, a, soon as they amour,
70 the sum Of Sc.
Sd. Every person Seposiing, should be fur
nished With book, in which entries should be
regularly made Of all sums paid in, or with
drawn.
Attn. Money with interest theron may De with>
drawn al any time, with the distinct understand
ing ,ha mo interest will be allowed on fraction
al part Of dollar or ofs month.
Thus MI, Caair, have uffered in few words
my views Of this mater. I snail leave it to o.
theirs to speak Of The advantages which we may
hope TO result from the establishment, ofthis TO-
slitu,ion.
And heS for the present Mr.. Editor, I mus.
stop, for you can easily conceive that man
might exhaust his strength by making such q
speech show much more by writing ii, Per-
hsps Mr.. Lsumas or soma other friend Of the
cause, will save me the trouble II complaining
ag-,n Of fatigue aud Toll. If not, shall go on
TO the I'D question which might arise, as you
will observe have eou6ned myself to the FIRST