The Jasper weekly courier., 1874-10-09
THE METROPOLITAN swINDLERs.

III " L
The Autecratic Gougtng or the Saw
tng~ Banks - Pawn-brokcrs ana
Their customers Boarding-Ifouse
Thieves. sneak Thieves. Shop-Lift-
ers and street. Beggars-
The multifirious means Of making
money in \ city without working for it
the living by ones wits, so 10 speak
are well sci forth by a writer in the Bos-.
ton Commercial Bulletin. commencing
with
swISDLERs IN GENERAL.
The legitimate end and aim of going in
to business Is. of course, to make money.
No msn goes into ii To lose, If he can help
it. MANY are content 10 deal honestly and
ON the square with those they have 10 deal
with: Others go on the principle of max
ing all that can be made. honestly or dis
honestly. OF this latter class there is an
enormous representation in the city of
New York, filing every Kind of business.
and occupying ever station in life. All the
scomdrefs in the metropolis do not wear
light overcoats, dye their musfaches. wear
paste diamonds, or frequent localities of
unsavory repute. Many are fat and sleek.
with bold heads and gold-bowed specfa-
cles; soft In speech and urbane in man.
ner owners OF high-priced pews in first
class ccnventicles, and generally regarded
as models OF frespectability and morality in
the community. These men are never
caught picking pockets. or cheating at faro.
Not ar all. Only vulgar scoundrc,s do
that They default, or fail or "experience
BUSINESS vicissitudes''--qenerally in such
a way that the arm Of the law fails 10 reach
them-and then retire with fortune
Others are members of corporations and
companies formed for the express pur-
pose OF swindling those who put trust in
them. Every week i'm the year sees the
birth or death OF some mining corporation,
or company for the manufacture of some
extraordinary article or other which is 90
ing 10 rcyoiutionize the world and render
the stockholders millionaires. Take up
any copy Of the Sun or Herald and you
will find advertisements, under the head of
partner wanted" for parties with from
$1,000 TO $4,000 capital. ''tc invest in a
business which will pay from fifty to one
hundred per cent. annually" The fools
are not all dead vet, and there are always
those ready 10 snap at such transparent
bats. People who read the newspapers
know all about the modus operandi of this
swindlo, and we will waste no time i'm its
explanation. The highest and most aris-
tocratic grade of swindling is that perpe-
trated by bogus insurance companies and
savings banks. We say '.bogus. although
they may be duly chartered for the trans
action OF business. Even the savings banks
of undouhted standing do not scruple in
their hne of business TO demand terms
which would put Jew money-lender TO
the blush.
HOW SAVINGS BANKS MAKE THEIR MONEY.
The general public. depositors even. are
unaware OF the exact manner OF starting
and conducting a savings bank. Nothing
Is easier than to establish one. provided the
charter can be obtained. and If matters are
shrewdly managed there is little difficulty
in that. No capital Is required. except the
small amount necessary TO fit up the office.
The depositors-the mechanics. servants
and industrious classes generally-supply
the capital. The bank officers are really
only the custodians Of other peoples mon
ey. UPON this they live, erect splendid
residences and warehouses, and grow
wealthy. In New York City nearly $780,
100000 capital has thus been furnished
corDorators by the industrious and hard
working classes-those prOtiting thereby
furnishing not one dollar themselves. In
answer to the question, '1Iow do they
make money! the following will Illus
trate: Legal interest in New York is z
per cent. The savings banks allow per
cent, and on sums over 81 900 the rate Is
only per cent. Reckoning the difference
between the rate paid by the bank on its
deposits and the legal rate. and the profit
nearly equals S2Oo0.OoO This l. purely
Legitimate profit. but the banks are not
satisfied with this. The managers OF these
institutions. a. great many in the me
tropolis have learned by experience. are
exceedingly disinterested persons. With
the exception Of the treasurer and the
clerks, they serve gratuitously. TO show
their feeling for the struggling poor,
we suppose. whose money they have in
keeping. Circumstances lead one TO be-
lieve. however. that among the gratutous
and virtuOus servants there are some very
nice pickings. Suppose, for instance. you
are in business. and need money. say from
5000 to $4,000. for immediate use, and
have real estate which you can Offer as Sc
curity. lou 20 TO a savings bank in
prei~rence I, trying Ia raise il Oh the
street. III your application is accepted,
you will be told that the searches In the
registers Office to ascertain the validity Of
your deed must be made by their own law
yer, IN whose Office all the papers must be
drawn. You must then go to this lawyer.
present your case. and ask the fee for
making the search. Ifthe sum mentioned
does not have the effect of paralyzing YOU,
and you acoede. the matter progresses
After the SO or so paid for the search,
SO or SO more are added fordriwing the
mortgage. Added TO these fees he at
taches another for the use Of his name.
which, II the sum borrowed amounts to
$1,000, will vary from $3.50 to $500. IL
you go to the bank Ia cxpostulate. and
ofer another lawyer's service az tenth of
inst rate, you will meet with a sharp re-
bun, the result being, II you must have the