New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1856-02-07
s AVINfes AN ~ s.


productive of general good and usefulness than Say
ms Ranks ana Savings Institutions. Go where we
III whatever part Of the civilized and commercial
world MI find these institutions yearly increasing
ana the Individual who snees ard doubts their
utility to the laboring and working classes, may
wellbe regarded IS denented
Z The very limited amount of savings or reserved
funds among the mechanical and laboring classes,
among clerks and epaploy in general who depend
on daily monthly, and yearly salaries for sustenance
is never made more manifest than in seasons Of cpl
denies and vistations Of sickness There may be- in
all cases, exceptions; but, when We come to scan
the various archives Of mortality in our city, the
records Of our many benevolent institutions inquire
closely into the habits, the general character the
previous mode Of living Of the many recipients q
public and private charities, it will be readily CON
ceded that the general charge of useless spending
and systematic extravaganza, has Just and reason.
able grounds to sustain it 5l. &$
we are led to these remarks from the fact that the
Louisiana Savings Institution and New Orleans
Savings institution two duly
and authorized bylaw, have such limited sums on
Deposit though daily aceessons are made, and de-
lpositors increasing; nevertheless there is lack,
great want Of that economy, that frugaty, which
marks tie feeling and confidence in all Northern
communities. III the city Of Hartford, Conn, with
popuation Of fifteen Thousand, deposits in the savings
institutions Were, January, 1855, two millions four
hundred and thirty 1--WE thousand dollars Il me
savings institution at same State they were
one million six hundred and tfrfyseyen thousand
four hundred and twenty onr dollars In the State OF
Connecticut there nine other similar Institutions
VIII aver nine millions Of dollars on deposit The
business il the way Of deposits is increasing so fasS
that Il has been found impossible to loan the amount
in the State onmortgages, as required by law.
Massachusetts the amount on deposit in the local
savings banks according to the report last made was
twenty. million nine hundred and thrty.six thou
sand dollars Number Of depositors 1864. In Bos-
ton alone there are three chartered savings banks,
the deposits Of which are now nearly eight millions
Of dollars embracing thirty thousand depostors.
In the city of New York there are thirteen savings
banks the total amount Of deposits at the end OF
1855, were nearly twenty millions Of dollars.
The first attempt at organization Of a savings bank
in New York was made in the year 1915 but never
reached perfection till the following year. The de
posts Of this bank at this time approximate eight
millions Of dollars. In the Kingdom Of Great Britain
at the close Of the year there were ten thousand
savings societies number Of depostors one million
one hundred thousand the amount on deposit one
hundred and thirty. five millions Of dollars.
But the thorough completion of the system o.
savings banks, is tie recent formation Of what are
termed the FIVE cent Or six penny savings banks
From experiment. this system has attained highly
developed organization, rendering to all communi
ties where established ncaculable good and benefit
attracting the devoted attention Of the philanthr0
pis and fnancier and, we are glad to say, they are
multiplying rapidly for they deserve the patronage
| and encourage cement Of all good citizens.
In our city We have one which receives deposits d
one dime or ten cents and, though starting at first
under great disadvantages, it is silently working It's
way into the confidence Of the people Then We have
another incorporation, where deposits are received
from one dollar and upwards Both these institutions
receive the earnings and the money Of mar
RED women, minors, and all; and married women
and minors have their earnings under their sole
control 1t is surely great TO every ndiYid-
nal that there are safe repositories for earnings, par
culary those who are dependent on their daily labor
for livelihood The favorable influences they are des
tined to exert il our midst, we trust to see manifested
in growing increase Of deposits and depostors for
there is no State on this continent where the me
chanic aborer Or arizan, is better compensated one
yeaf another At the same time it must not b
concealed that there is recklessness and lmprovl
i #dencs regarding the future, that ought to be dis
3countenanced, and which merits reproof from al
! our leading and influential citizens. Are Their
not hundreds, and possibly thousands, Of men EN-
ployed as clerks in this city, on salaries from fit
dollars to one hundred and fifty dollars per month
who never think, on Saturday, Of going to saving
4 bank and depositing even the small plttance
4 one dollar per week? Let any Of them who haV
capacity of clerks for ten years. and ar
likely to serve ten more, sit down and calculate fifty
two dollars per year with five per cent interest addet
i every six months what would be the result in tel
1 years? If that should be too dminutive business
Or make too small show, let five dollars per week b
/ assumed then take the cost Of segars and othe
1 items Of pomposity and uselesness, and the com
paratiye benefit Of boarding in this manner can b
placed side by side with the daily routine of habit
| ending with sickness and not dollar in pocket
| al Let every laborer who is receiving his two an
three dollars per day, consider if he cannot at leas
save a dime from the rogshops, every day, and wal
4 to the Savings Institution under the Odd Fellow!
Hall and deposit it there; and when sickness and d.
4 biEty reaches him. or employment is scarce, he vi
not be an applicant to the Charity Hospital for relic
nor dependent on soliciting aims for daily support
and let every artisan and mechanic who is recevin
fifteen to fifty dollars per week calmly reflect no
. much they can deposit weekly, whether FIVE or te
dollars; or, whether it will or not, result more adva
4 tageously to so it, while flush, and depend
chance for future acquisitions twill be well enout
: to reflect that the road in this case would not
4 very long in this climate Finally, we do not consi
eritinauding to suggest that every parent give ea
tchild dime if no more, and send him to the Savin
8 Institution every Saturday. We have book now
fore u.s. where dime to twenty cents has been dep'
tied every Saturday since the opening of the Loui
ana Savings Institution in August 1854, and anotl
u book, Wherea dollar has been deposited every Sat
e day with the New Orleans Savings Institution,
Camp street We can only recommend to the p
5 dent, economical and all-go and do thou likewi
!. We now append the first annual statement OF
: Louisiana Savings Institution, which, we are hap
to learn as well as its confrere, is increasing in bu
# ness daily AS the managers Of both give their til