The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-08-22

state, are upwards OF S2o,OOO,OOO. |
In New York City, the amount deposited in the
savings Banks was, in lS55---....... sl9,l56,als |
Leaving balance of................... seSa, 7O7
IN 1855, the Deposits ss2,sfs,s55
NHhdrawn. lS,Se,O63
Balance undrawn .................... s3,9al,7ss
The surplus deposits in the two years was. ~ ,os 40
which vast sum was the earnings and
savings OF 100000 persons, who consti-
tute the depositors. showing an average
balance in the account of each, of about
twenty-five dollars.
In England the aggregate deposits in
Savings Banks, in 1856, amounted to the
enormous sum of S164, 139,980. The
number of depOsitors was 1917 Al, va
rying from So up to $1,000.
In New England the permanent de-
posits of the Savings Banks. bear re.
spectacle proportion to the capitals of the
incorporated Banks.
The benefits of Savings Banks are not
confined to the depositors, and in stimu-
lating them to. habits Of saving. economy
and thrift, and in securing for them a
safe deposit, where small sums may ac-
cumulate by interest, but they confer a
great public good. They gather up the
small sums Of money, too insignificant to
be used by themselves, and which, in
their scattered condition, remain idle,
but when united-like the rivulets that
form the river-they become powerful
accessories to commerce and industry.
These trifling sums, so useless when
scattered. may be made powerful agents
Of prosperity to community like ours.
They are of far more Importance, as
helps to business, than we have ever
deemed them at the West.
Our banks have become almost exclu-
sively exchange dealers. All our COM
munities feel the need of accommoda-
tons in the discount oflocal paper, which
is the only kind in which saving institu-
tons can safely deal. The non-commer-
cial classes at the West have more idle
surplus money on hand than the same
classes at the East. In the same popu-
lation there is more money that might
be collected for the use OF such institu-
tons. And since the advance in wages
they will continue to have in the future
much more idle money about them than
formerly, to be deposited. With the high
price lately of agricultural products our
farmers have great deal Of idle money
about them. They are distrustful of or
binary banks from their frequent fail
ures and from the systematic war made
upon them for political purposes, the
chief aim of which has been to arouse
the prejudices of farmers and working
men against them. In conversation
with an old attorney-who is the coun
seller and friend Of two thirds of the
farmers of Posey county and who j:
their adviser in all important pecuniar,
transactions-he told US the sum hello
by farmers in our neighboring counties
was greater than the public supposed
In Posey county alone, he could, will
property security, obtain more than
hundred thousand dollars in gold, nov
laying idle in the hands of farmers -
The same is the case in all surround
ing counties, and like state of pecuni
airy affairs, exists among the farmers oil
the other side Of the river. Some Insti
tuition is needed, to which these funds
could be entrusted for commercial uses
These unproductive funds might be mad
to contribute especially to the relief an,
growth OF the unexplained commerce O
this city. Cannot such an institution b
devised, that in the hands of pruden
and safe men, will command the conf
dence of the entire community, an,
bring into use this boarded capital. Gu
Legislature at its last session passed
general act for the organization ofSayin
Banks and Loan Companies, which seer
tohave attracted but very little attention
under which an Institution might be or
gained, which would accomplish tn
end we have limited at On another oc
casion we will give the provisions of tn
act and point out the mode Of turning
to the benefit of our community,