The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1868-06-02
Freedmen's Saving Bank.
BUREAU OF R., f. AND A. L.,
Headers Asst Com State of North Carolina,
Raleigh, N. g., May 18th, 1868.

Raleigh, N. c. May 18th, 1868.
The Assistant Commissioner is DESTROYS of
drawing the attention of the colored people of
this State to the Importance and benefit of the
''Freedmen's Saving Bank" branches of which
are already in operation in Raleigh, New Berne
and Wilmington, and in few days others will
be established in Charlotte and Salisbury. This
institution was incorporated under an act of Con-
gress-for the special benefit of those whose
earnings will allow them to lay aside small sums
of money; providing depository perfectly safe,
and at the same time accommodating interest.
"a penny saved is a penny earned" was the
maxim of wise and great man and one worthy
of being followed
large amounts and at the end ofevery six months
interest is added to the prinipal; and thus every
deposit earns something, and by this system of
compromising interest the original amount doubles
itself every few years.
| The colored people of this community are to
all intents and purposes free and independent,
but in some respects they are still in bondage or
! dependent upon others. So long as they are
houseless, without shelter for their families, and
without proper apparel and food so long will
their condition be one of extreme want and de-
pendence-and the present condition of those
who are slaves to habits ofidleness prodigality
or intemperance, is far worse than their former
bondage. A full appreciation of the liberty, ad-
vantages of citizenship and opportunities for
education granted the race has been manifested,
and the benefits arising therefrom fully realized.
Now is the time to lay the foundation of future
wealth. prosperity and happiness.
Everything has been done for you that was
possible; you must now carve out your own for
tunes Your future career and success in life
must be determined by your own actions. There
are but two paths before you: in one you will
| find idleness, prodigality, vice, crime, slavery
either morally or physically other presents
industry, economy, sobriety, prosperity and hap
piness. One great and important lesson for you
to learn is the value and power of money.
The wealthiest men of our land were, a few
years since, among the poorest boys of the coun-
try. They acquired wealth and independence
by industry honesty and economy. TO save the
first ten the first hundred, or the first thousand
dollars is the almost insuperable difficulty one
experiences in the task of economy But the
first ten dollars saUed, to save the hundred and
thousand becomes easier and accommodating money,
instead of being task, gradually but surely,
grows to be satisfaction and pleasure. Unless
the commencement is made, and the foundation
laid, you will remain in poverty and want. Let
every cent now wasted in purchasing tobacco,
liquors, jewelry or fancy clothing be saved,
placed in the Savings Bank, and when enough
has been accumulated buy homestead, and thus
place yourselves in circumstances both comfort
able and independent.
Bear in mind that every dollar deposited is
earning interest every day and while sickness
or other causes suspend daily employment the
little sum in the Bank grows larger every hour.
The particular attention of all colored people
is called to this opportunity afforded by the Gov
eminent for their benefit. Soldiers especially
should take advantage of this offer, and thus pro
vide for future interests, by deposiing each pay
day portion Of their monthly pay, thereby pro-
viding something to aid them when their term
of service expires.
Let the children be taught to lay aside every
penny they get, ana when it amounts to ten cents
put it in the Savings Bank and when they ar
rive at the age Of twenty-one they will have suf-
ficient funds to materially aid them in business
pursuits.
1t is not only a matter of economy, but a wise
policy, to provide against contingencies common
to all men, such as sickness, misfortune and their
attendants Put every cent you can spare into
the Bank and coming years will show the wisdom
of such course. NELSON A. MILES,
Brevet Major General U. S. A,
Assistant Commissioner