The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-02-18

CIvIzEss IN SAVINGS BANKs-wHo THE MONEY
BENEFITS, AND HOW 1T OUGHT TO BE ExPRNDED-
PROPOSITION TO ESTABLISH CATHOLIC sRrTLE-
MEMS ON LANDS TO HEREAPTER SELECTED
WHAT Is TO BE- DONE FOR THOSE WHO HAVE THE
MEANs AND THOSE WHO HAVE NOr-A JOINT
STOCK COMPANY RECOMMENDED WITH THE RULES
FOR IT'S GOVERNMENT, ETC.
Amcpg the many committees appointed ut the C,Dven-
ton for the purpose Of inquring into the fnan
cis means the disposal Of that particular portion of
our hsh population who, supposed, would be wlng
10 Join in the proposed colonization OF Irish Catholic set
Elements the Western States. As this report is inte
resting on of the facts It presents give 1t IN
full at the same time that do not approve of any
Of the suggest and recommendations which 1t
makes -
that they have carefully considered the position OF two
classes constituents OF this convention, whom they
may or gpste emigrants with suficient or partial
means to come settlers anost immediately. and emi-
grants with no but willingness to work
UNSETTLED EMIGKAATs WITH MEANS.
THIS class BY which describe those who have some
personal but real property your committee have seen
reason to believe more numerous IN the OLD states
ci lees proportion than in the
Urted States sea ports and manufacturing towns the
bulk Of their surp rnpgs invested in savings inst
tuons or het the hands Of porsons Of employers,
or laItly Invested Ia loan furds and bu ding associa
dons. 1t ia the impression OF the comm,ttee tnes no.
q Ree equeny almost all their investments are
ia institution wbicb yield the sn.ll'st amount OF
risk OF savings bar ks conducted in several OF tho
States, desire speak with great plaaness. They
were originally tic device Of benevoence for the proec
on OF he bolous poor but they have generally
into agencies for ators The Secretary
the OH Of February la that he banks class 10
this State pres Mt without super vston that
of two Of them no sctivs incorporation could be iound
that al TWO others annual abstracts were re-
CURED by THEN charters. and he strongly commended
that u is pr sss Of s5iass be lene led me
report for 1885, report several re ious abuses Ia the
sini institute of that state, such savings banks
operating banks Of discount making divisions OF
their Fun Plus earnings only at the end OF hve
years, to The mari cot prejudice of the shor.
depoetors; exceeding ,he allowed to be loaned on
pc soDs security and the prevalent speculatng spirit
in The Ct Other meas money moreover such
banks themselves study con inuec mystery in
their management opposing all obstacles the
sion If he State and refusing to give minute details ot
their transactions when forced to report to the public
or some establte with few exceptions since 1870
there Ia but which kefp In cetal the accounts OF
emgTsnt cepoi.ors From the others, 10 rec yer the
next OF kin more than the legacy would be
worth Your c. mnitttc would therefore recommend to
the emigrsnt Of small careful Discrimination 10
the selection OF savngs bank wherein to deposit his
hard earnings. at tie time they woud I'D, their
opin a. the best ct eli bsnks wnere 1t en- BE- de-
Iosied, is the urthaken soil of the earth From the
data before item, your committee have estimated
that there is not less than mill ms Of ish
morey In ,hs savings banss OF Massachusetts From
incomplete returns and comparative lumors they
infer thst the banks OF the other five New
f. elsnd States contro a similar amount that New York
city State could show similar amount and ast New
Jerey Per Ma Land banks have the Of
sum to a, sna the
Of s would yieic mi Il ns # dollars Of Iih
money. of which bit million (in tho Emigraots'
Saving Bark New York is di lily Indirectly under
control whlle deposited. With these millions all
ella es acco1.mN sted except the right owrera.
Flt nr culaoIs buy oIr with it. aad sell It back to
the depct Lrices builders build tene
with and the CITY IIsh pay thirteen fifteen
osn nc1ty The epors absence financial kno xledge
nifty otte engrsnts the nseyes ahoIcs rich
d 70. may d1s p, ssn born b. uh vsm
Before frer this pat OF the Inquiry i may be
well to stale the operations OF he only hmigrant
by heir report for 1866 Two :hirds of all the
oepostors that year eventeen humid ed out of twenty
ENTERED natives Of Ireland" The
average amour, Due each depositor 1888 The whole
sum in this bank New Years cay was above q mil
cn he ~hoe um IN is possession during the i've years
The mech ard those who necessarily ave IN cities
about ,y per cent OF the deposors; the laboers
posteIp redars domestics seams reses, ress
makers ard minors term this remainder The largest
vi bcrawsls az the 1T Of each quarter from witch
infer thA If the poor ard in the intervals to
be able promptly 20 meet the ely lxnuiord Those who
bring FIVE ten rId twenty collars or INFER mediate sums
orr so ,nst in this respect welt in u
It's entries thf iDsiitu ion ID ia y tied to he nams 1t
r.ce'eo ntm us 'tpsvoent funatr the late excel ers
his example, and thus prove true r!erd
# their felloT creatures muah In peei of their
crR carer Another class OF dormant invest ments Is
where The employed consent to leave tie bulk Of their
wages in me hands q ployers from year to year.
This practice obs at the Ess in almost every bran h
Of INDUSTRY employing n iage number Of hands; in
factories the loot end shoe business and tho glass
works as Tie factory cor very ai,ly
allow for such dpoeits xix cent per annum out the
ctLer sets Of empyrs as far AS We eau learn pay on
Only the principal In the former case, The security is
quite COED if rot be er than MAI of savings dark
In the latter the sggr-ga'e of Interest great,
though individual may miss his own percentage
lars year, OF four dollars per week. on the books OF
tuoh employer he has the use wit bout n,eres OF
$1,000 Of their money for which the factory aons
to ply So COO interest We have Opposition to interfere
between employers and empl yea petiay If the Ia tor
do not knw ugh to take their own wages when
they ave eaIntd method OF capitalizipg small
sums is gradually coming into svor with many of our
constituents We refer fumes ard ding
cietes The principal which thev founder il this
sha ret at fixed sum- say i've hundl ed dolars;
the el la ,hs opera ion OF loan fund from that Of
ouioine ciety, understand 1t is ttisin the
former tie holder OF the ock realize bis interest at
excepting his bic sey two hundred dolacs, more or
when members only present AS security for paying
up he share thus realized he gives the society real estate
bio ana the matu ed shsr. becomes the common profit
of the share holders. The building societies In ad-
and leneisr to m.mters only Cd real eg,ate se
cuiiy, practically oftet the bonus BY dividend and
the ina smount of N pey paid In. We have alluded
TO both bese pans TO hov that people largely in
terested such tysems, have been csccing for them
seyes in part the questions Ct fna referred to
your ruitee. We should not omit from estimate
Of The Surplus The class their annual
rinances TO I,e.and. The money ORDERS drawn on he
Uoitd States spc paid in Ireland cd to $3 900 900
exclusive of the ain oct equal amount paid for passage
tickets the 10 1854, the OF the pre-
vious Yeas kept up. In 1865 we have TO be-
eve these remit ances fall Of at least 10 cont; this
would give however for the years last passed.
$50 O00 COO sdvsl by the Irish IL this republic to
their relatives in Ireland Should the decrease of 1856
continue augment In smount, there Is much the
more left ON their for here Finally
beg TO report this head that the ca,s with
sufficient or partial to become propriotors
OF land, csDno, be under In the United States.
hundred Thousand besos OF fsmiies fur ffths of
whom believe 10 be between twenty.oLe and fifty
years Ct ege at this period
EMIoRANTs WITHOUT MEANS.
1he United States Of 1850 gives the whole mum
btr Of Of foreign birth at 1905 II we take hat
OF these to he Irb and decut seventy til usand for
the penGent rcb among Them 70 senty thou.
the Of tmsli mean, shall still have 300
0C0 msles wtbou mesns, ehee where they or were
they detirous to settle in the interior suppose