, 1875-02-27

4 xorkingman Of this city Bords lis an extract
from an Eng1isl, pRpor on tho savings batka ol
Switzerland, and asks uB to publish 1t. The Artt.
clio was originally published III T1Ig Tn1nusx' u
haa been quoted without crodit by the English
psoss. We reprint 1t with pleasure:
Il, very many swiss villaqe#, banls have haen e:fa~
lahctt by fort of joint government aud aInr Actto
1ma sp,s sss rrseyei. Dcpoaitors have isn
ito,nEcve. 10 ray u ilaed ann eF wesE Ths n!i-
tens m.t be roni,n,c fnr tAreo years. Aftes ths te
oNa amount ST. interest IA nid sH,n II Gt tho rp
e az ri Ths:s ssn' Do III sorta o o Eanta
usincxs, b devole Meneessa mainly % ono Fnecia-
DeE.tsrs .rs snsa to '0a.s sa' f. - ss
rcnrcl 10 ray rcr cent interest. Sumo Of tho Iaka
obee tIe ,nci 5 receiving eHo leans 10 repay te y
operative associations formed anog tctr delcsora.
In such caeea tbs usnc1s n under 1Ln control q te
9x havo been sy
ths hgency Of two Of csn 1anis among ta'Ios. ti-
workers, rtintsrs' raters aud rlass,soss A. to t
crcdit, with thu norcst that accumulated during tnst
time, and rroporlion.ta sharo Of o nroa;* r. M :as
s.asos. which bear in'creat 1t ~ pcr cent and cno
lin to = larger proportion Of tho l'rots than Tug
s Saasa %s. ssis In 1s MI s9 sf
havo nu beounucccssfnl though soma have. Of course.
outs.rpped o,he.s: Ihe hrss @ ono r. tue Canton Of
xI300o. II !urs ave1Age weekly tnsucha Of 3o0o.
banking il not one Of Tie functions OF government.
G'nh:,'arntona Of nttlisy May honnyS., 1"sks 70:
Tho plan 10 safa o wors we IN H. nw!zefna. M e sa.na a
tlcues relieved from tho Necessity Of saer5nen3
tler acanty rosacssicns h being en.r 10 get 1oans
of Ure1 rltaIn also cel " hasa Lad very bcne-
Gcal rts1llts.
Our correspondent naAa ua to urge tho adop-
tiou OF this Hystcm hero. Wo chnnot to 90.
Under our Government, tue State Cannot safely
guarantee Baviligs-banh deposits whilo tho do
,rosits aro not mado with tho State. It can, aud
should, however. require frequent ottichl sscto-
.n1onts, verified on oath. Of tho condition Of tho
banla 1n Massachusetts, wl,cro those bauks hare
1soBporcl most, tl1o7 aTo utsdor tho Charge Of q
Commissioner OF Savinga Banks. In Connecticut,
tlsro is d Board Of thrco such Commissioners,
Thu lack OF noo1ed Legislation in this stBto has
q bad otlcct. Our savings banks, especially Binco
tho dsgraceful failure Of the Franklin, arc not
nB we'll patroni2ed rs they ought to bo md would
be il thoro wns proper Inv regulating them.
1lany laborcrs, afraid to dcpouit their aur-
p1ua earnings, lavo fooliBh!y wasted tllen
iu illo or yicioua enjoyment. They
hurt themselves, not only by destroying
their Btcady habIts aud contracting foolish aud
expensive tastos but by diminishing the stock
Of loanab1a capital at tho command Of tho busi-
uess community. The bankB, BY loaulng their
dopoots to mon who wish TO engage in p1oduc-
4lou turn idlo wenlth into reproductive capital.
and greatly incroaso tho domnnd for labor. It
has toon calculated TINT every $1,000 deposited
and loaned employs wotkingmuu. ANY labosnr,
therefore, WHO has $1,000 in snyinga bauk Is
reilly koeR1ng himself CT aomo otlor man In en-
ploynnnt. Want Of filth, then, in our Swings
banks Ia an injury to this industrial cIn8soa and