Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1857-07-17

sss savinGe Bank. I
Favoring every elemsoe Of sseis
and every snuesnsnt tol
aud the rswards Of industry,
We feel deeply cOscsrnea in the estaL-
lishmeut q Ssvings Bank in tAis
City. The rich, those actively engaged
in large ssasspsis~ s.d shess Who have
liberal iscemeA Do not stop TO think Of
the needs Of the less fortunate fellow
men. Every poor man with aspirations
TO better his condition. without the
means Of improvement, is made . dan
gerous member Of society. lie acquires
. reckless indifference for > position Of
honor and independence which he can
NOT attain TO, and tskisg the opposite
track, too often becomes vagabond
and criminal, q drunksrd or gam
bier, and therefore Injuries Society
Let men in the pursuit Of gain, look
more closely at the condition Of Society
and study its wants, and what will tend
TO elevate the masses. A Savings
Bank 10 known TO be the very best al
lurement TO the habits of economy in
the poor. We clip from the r. X.
Record the following article upon the
subject.
In some Of the States like New York and
Ma ssachusetts, We have the operation Of
Savings banks on large scale. and can de-
| ternine very nearly the savings Of this
l class. In the report Of Mr.. Kelley 10 the
| New York Senate, we have full statement
of the operations Of Savings Banks. in
| State. where they are popular. and large
number of people deposite in them. We give
| the results;
Deposits IN ' Dc state FOR . 'sss ,ss'1ss
Iuere.,e, $sss. 10,
II thus appears, that there was a nett
| gain Of the savings in these banks, during
1855, of nearly IA million Of dollars The
average amount Of the deposits was only
s13 60 In the year 1896 the operations
were
Deposits In 1855. 81, ses,ss3
do withdrswn, 'o'oo''"''
,,c,s..c. .s,ss.,7ss
a., ,ho ;ua. of industry
r..ch.d nearly four millions, Indicating
| '."o" ~
that the conditioi oil the WORKING ciAsses
Il. q
and undoubtmllv this was the fact, II was
in the fall Of 1854. that great commercial
shock was experienced, and the railroad
interest became greatly depressed. Many
working people were thrown out Of EN-
| ployment, and it was not till in 1856. that
an entire recovery from this shock was eA'
| perienced Thus We see the savings of 500
s'e"''S -.
-
,0.. a.,e ,o,
| !. iss.; = s0s 7so
-
Aggregate, tAs3S Ass
This was the increase Of deposits; but, as
the banks had likewise inv sstments, the real
increase Of their means WAS larger
! As these banks must be ready to pay
their depositors on demand; and must, ut
the same time make profit for them out OF
the deposits, the great bulk Of their means
il invested in stocks. or bonds. which are of
ready sale: ~ that they can be disposed ol
at short notice. The Investments Of these
hanks on the LIST DAY OF January 1857, were
as follows:
s.octs All o,s s2o
Bonds, Is.57Osas
oa'h and Cash Securities, elss7S1
Total. AL sss 80,
m !,
i.ese naNes'''en's aie AL "aue ." uhe
"."s' '.'""p'e P'o'"e'N, P'ope'A ~
n NM ""es e"1 " 'Asue aN",ap.e u. "Ay .'li.
"e '''"'e "'''''" ''''' '''''" "''' "s '''
""'
FROM s.osSs ana Securities. s,'v Ivy, ss
'''" -' -''N "'''''''
Total Income. >aI7s is'
Ofthis s2oi 900 was redeemed. and tn,
residue paid to the depositors, and exlenss o.
! III. number Of acrau.is in the Savings
Banks. on the LIST of January. 1857. wa
aO4.s55. This indicates. that there wer,
the same number Of depositors. New York
has about 3,6oo.o0O people; So that abou,
in IS of the whole population are deposi
, an average Of six persons. and only one Der
son in family can he suffered to deposit. il
Is lar inference that about l,2'"'ho