New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-07-31
Alan Qyrleans 3aailp GresGnt.
ruEsn.Y MaRNINa IuLY 81. Iaa8.
ar Q2rlrans gEonep 9tlarkGt.
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0lt.sosSsIt 81, fssa,,il,.s Inlr 10. 1850

gre p;, sa 7 I gs' g sf $50
~ announcement III an arnistiee between Aus
Il ana Prussia. ana the very heavy advance re-
ftes ID ase.twenties at London on the 2lst inst,
ase materially depressed the Gold market day,
while adsices Ct decline IN rates Of the latter at
.s8 York Of fully 20S y cent, tended considera-
blg Il accelerate the downward tendency Of
ricee Rates fell of here from lAT4@l4s4
ID l45@1ls5 and even to the latter figures
re sales for the day have been but little better
shan nominal, IS will be seen by the subjoiaed rel
tort sis 5000 at l46, $4,000 st the same OOe a.
1888 $500 atl45l, and $4,000 and io,oee n lfo
!es &c Silver comprised 500 and 20VO MeSioan
Ballars AT las, and 1000 do. AZ l4sa We no"
aote Geld az l45@l45 and SILVER a. tsoegiss TOT
Amefican coin, and Ias99 ~ for MeAlcan Doliafs'
Nothing done at the Board
FoHEIuN EXCHANGE The movement N steriing
and Francs bas synpathized with that Of the Gota
market to-day, and sales have been restrleled 70
10 Foltau;rF IT Tie rates annexed, VIZ: $1,000
and 5000 Sterling st 1866 El00o at 1868 and sS0o0
nj liz. Nothing has TRANSFERRED in Francs, and
the closing figures are l59@l6I for Bank Sterling;
I56@lss for clear bills f3,50@fs.45 for Bank
Francs and 1864 f.s.573 for outdoor Frames
DOMESTIC ExoBA There is no alteration of
any kind TO notice under this heading. The de-
mand at bank for remittance purposes is moderate
st previous figures, and the purchases BY banks
and bankers have been limited to Sl500O0 bank
sight bought BY bank at y cent. discount, and
$4,000 and s35 900 private do. at u cent. dis
count The ruling rates continue at discount 70
par at bank, and 4t@s y cent. discount on the
street or sightchecks on the Northern cities.
UEcuRRENr NorEs AND SECURITIES Sales Of
asf.. shs,r4n knpsa
limited 10 $1,000 Bank Of Louisiana at 6s3, and
those at the Brokers' Board were confined to $500
Louisiana State notes at SIC. q dollar. In Secu-
rites he only operation that transpired was 9
shares City Railroad stock at price that has been
withheld.
OR1aIH or SAVINGS BANKs. IN ESGLAND.-Samp-
son, Low & Co., Of London, have published his
tory Of banks for savings in Great Britain and Ire
land, including full account of the origin and
progress Of Mir. Gladstoneis financial measures for
post0fice banks. government annuities, and gov
eminent life insnrance-by William Lewins, author
ofIHer Maiesiys Mas4-in which there Is much
valuable andiuteresting Information.
In 1898 the ReY Joseph Smith, of Wendover
England, proposed to bis parighioners that they
should pag him q stipulated sum weekly, not less
thaa two pence, during the summer months, on
condition that the whole should be returned with
the addition Of third as bonus, at Christmas time.
The next year Priscilla Wakefield started fund
for the benefit of the women and children of Tot.
tenham, 10 which the poor members paid az much
as they could afford, receiving excessive interest
shroueh the eharity of rich and honorary members.
The Tottenham Bank was reurganized and made
selfsupp0rting in 1901, and that perhaps was the
first Legitimate savings bank established IL Eng.
land In 1907 Mr, Whitehead introduced bill
Unto parliament for generalizng the savings bank
principle, with the intervention of the post
office but the proposal fell to the ground Saw
EHgs banks, however, soon came into fashion, and
grew rapidly in size and numbers Their most in
Nnentiai promoter was DR.. Duncan the son of a
Dumfrieshre Clergyman, who published q paper
in the Dumfgies Courier. ia which he proposed to
the gentlemen of the country the establishment of
bank for savings in all the different parishes Of
She district, ss M
The oniy waya said Mr.. Duncak, in making
these proposals, il appears to me- by which the
higher ranks can give aid to the lower in their
temporal concerns, without running the ris < OF
aiding them to their ruin is by afording every en-
coBragsnent I'd industry and virtue by inducing
them to provide for their own support and com.
fort; by chershing in them that spirit of indepen-
dence which is the parent of SO many virtues and
BY juliclolsly rewarding extraordinary efforts 0f
economy and extraordinary instances of good
conduct. Friendly societies, excellent as they are
IN their way do not in every respect appear to be
calculated for this in ended effect; advantages are
held ont which cannot always be realized, but III
simple parish banks there can be no objection OF
Mr. Duncan metwith little response to lis an
peals from the gentlemen of the neighborhOod
hut resolved TO make the attempt single-handed.
din1coftESi were Hfe3tlY increased the
cumslanees ia which this particular parish vas
placed FEW parishes presented 80 many obsta
cles to the progress of scheme of this kind.
Almost every adult member Of the parish belonged
to some friendly society, and many found it ex-
tremelY difficult to fulf their engagements to the
established societies, Again, there we're few, if
any, resident heritors or propfietors Of the land
TO whom Mt. Duncan could look in any difficulty
that might arise, or 70 whom he could look for any
assistance Of a pecuniary kind. Nevertheless, he
resolved TO commence He had arrived at that
experience Of human kind which made him under
stand that ia even the poorest family, there are
odds and ends Of income which are only too
likely to get frittered away in thoughtless extray-
saganee
Could he hnt induce the mass of the people to
comprehend the value of the savings which might,
BY reasonable economy, be gathered from this
source alone, and could he succeed in supplying
the means of investing these savings securely
afording them at the same time the prospect OF a
fail rate of interest," not from charity. but from
the resources of rade. he was confident the hopes
be cherished would be realized. The scheme was
started Ia May, 1870 and savings to the amount of
one hundred and hfty-one pounds were deposited
under the stipulated conditions during the first
one hundred and seyenfy-six pounds, two hundred
and fortY-une pounds, and ia 1914 to nine hundred
and twenty two pounds.
This successful experiment led to many others.
The first large savings bank sat up in Scotland
was in Glasgow, chiefly through the influence and
under the guidance Of James Ewing. a merchant.
N AnS HalIDurB SAfinRE 5A3ank SIR lillian Forbes,
the crest banker Of EdinbuTg, took an important
part. This bank had one pecnliarity, afterwards
adopted By most Of die Scotch banks. When the
deposits Of any one person ameuntedfe ten pounds
tfhe minimum sum received BY an ordinary bank J,
ne vas presented with an interest-note upon any
Banking firm be chose to name for the amount.
AenceEGEih he ZELDA account with the bank In
question receiving higher rate Of interest and a.
szensihened secprity for his money. The savings
bank, however and this Is noteworfhy-was sfill
open to him as 4 bank for bis small accumula-
tons, as before, apd until they again amounted
She SUN Of ten pounds. The Edinburgh Bank,
LAus restricted to such small sums and simple
opefatons, Was able to get through its work with
htlae trouble and minimum Of expense.
In i5lI the first savings banks bill was passed
through Parliament, and in ten years from the
qais Of their legal formation the deposits in saw
lngs banksenlounted to upwardsef sixteen mil
iiphs sterling ard the sum had been contributed
Ply four hundred thousand persons.
Commercial sSnteIIiaenrr