The evening Argus., 1869-11-06

fetal and humanizing effects upon the Ia
boring classes Of the community, exerted
by banks Of deposit,to which the laborer and
mechanic can week. take the excssses OF hiS
earnings over current expenses, and receive
q stipulated interest, though but small, is
questioned by no intelligent observer, The
aggregate wealth Of the community where
such institutions exist, and arc conducted
on corec. principles, is augmented to jus,
double the amount Of the sums deposited
1t has two.fold effect. The Iaborer or me
chanic whose earnings leave him q very
small amount at the end Of each week over
necessary expenses, too Insignificant to
make any practical investment,) attaches
but little Importance TO the few dollars OF
cents left after paying his weekly bills, and
hence spends freely in excesses, and frtters
it away, and from week to week, as he
grows older, cultivates the habits Of O spend
thrift, espires to nothing higher than the
qualification Of his physical and vulgar
wants. The money thus earned, and which
is not required to meet his necessities, is, SC
far as he is concerned, utterly lost. But il
deposited, and fair interest paid, it be
comes at once growing capital for his ben
eft, and in the course Of few years ena
bles him to start a small business, purchase
piece Of land, or other home. Thus, from
the deposit OF the first dollar his oney il
usefully employed, and assisting him along
in the world, aud that which would other.
wise be thrown away, or used to crafty @
vitialed taste, and thus render him physi-
cally less able TO labor for himself and fam.
lily, becomes his helper to competence, 1t
assists business men. We have in Rock
Island, as in other cities, numerous energet.
ic, wide.awake, capable business men, ope.
rating upon small capital who are ever and
anon sorely pressed for small short time
loans, for which they willingly pay 10 per
cent, and even much higher rates. A well
managed savings bank, under competent
control having defined rate Of interest,
neither too high nor too low, with well based
rules Of security, would always receive the
preference Of this class of borro wers, and
while the nechanics' small deposits made a
very good interest for himself, the aggre.
gate amount would form an active capital,
the benefits of which would be traceable
throughout the community. A we'll regu.
lated savings bank is emphatically the bank
Of the people, dispensing blessings TO every
one in the community. We hope that some
of our wealthy citizens will take the subject
In hand and organize at the earliest practi.
cable day, and thus while making good
investment for themselves, afford induce.
ments to the laborer aud mechanic to bet.
ter his condition, and elevate himself in the
moral and business world From the gen.
eral aspect Of the financial world, no man
familiar with its currents and counter cur
rents, will doubt that the opportunities in
the immediate future for loanng money at
10 per cent. on first class security, will be
far more abundant than the supply. The
margin between 3 per cent. paid to deposi
tors, and 10 per cent. exscted of borrowers,
is certaialy sufficient to satisfy old Shylock
him self, and pay the interest on all sums
not employed. The west is vastly in debt,
crops are not over abundant prices are low;
and do the best We may, there will be
balance against US at the close of the year.
Add to this the enormous demand for mon.
ey in the south to move the cotton crop, and
the fact that the eastern money lenders, to
whom we have yearly looked for supplies to
move our crops and meet DEFICIENCIES of all
kinds, have turned their attention thither
and that the south will henceforth compete
with us for the spare change of the east, and
furnish product upon which there is
quicker returns, and a much su.er profit, it
becomes every business center in the west
to husband its capital, and direct it into
profitable business channels and into the
hands Of men who know how and will use
t for the general good. Besides the general
moral effects, resulting from a well cultivat.
I'D spirit of thrift among the humber class
%, who as a rule, earn but little more than
heir necessities require, and fritter that lit
10 away, its pecunary effects would soon be
from center to suburb. We hope |
men Of means will work the matter up
l "o.o =" f'oN> IN -, Those who do it can.
not fail to double their investment, in !
short time, and do good work for their
elbow citizens. Who will open the books?
LIABILITY OF COMMON CARRIERs.-An ex, |
'hange says "One by one the arbitrary rules |