Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1876-09-21
SAVINGS BANKS.
Seine Suggestions of Value BY Student OF
Finance.
EDITOR HERALD /:

hand, whom matters OF local as well
rs general interest are to be passed
upon. We are reminded of this fact
: by the subjects embraced in our Gen
eral Election notice, wherein we find
Submitted, for acceptance or refusal
q proposed law of our State Legisla.
ture, at it's last session, which is en-
titled, GAN Acr for the organization
OF Savings Banks and Savings Socie-
ties"
1t has not been my fortune TO
notice either eulogies or structures, il
any such there have been, upon the
the practicatiity of the law propos-
cd and although it may be matter
OF regret, it need not be one OF sur
prise, at such time az the present,
when party men and party measures
so fully absorb the attention of our
body polite; especially as this pro-
posed law does not seem to enter in
to party contesting issues. While it
Is quite natural, under the circum-
stances, if not TO ignore ii, yet 1t still
becomes question, whether in so
doing we evince profound wisdom.
The traveiling,,of an American citizen
| to the ballot box OF the nation, IN
sublime ignorance IF what be is do
Ing. is fraught with moro danger to
our country then If he should su-
perstitiousy travel to, and worship
at the grave Of Mahomet. L call
your attention TO this subject hop
ing you may think it proper to give
the public the beniit of your analy-
sis of said law; for tho purpose, at
| least, of calling attention thereto.
1t is fact, that we as people are
accustomed TO look to our public
| Journals, for prompting to political
| duty. by treating Us to look 10 either
a foretaste of blessing, or giving
10 US the scent of curse. This is
by some regarded as the duty OF
journalists and when this duty is
neplected-when the watohmea upon
the wall gives no notice OF approach
ing danger, nor yet hernlds the APP
preach ota messenger OF peace, should
we wonder if the masses should go
to the polls and deposit therein bal
lots, wholly in ignorance OF what
may be the final effect | trust l
will not be conedered as retlectln
upon the general intelligence of the
voters of Wisconsin if | hazard the
suggestion, that not more then one
of them out of twenty have as yet
even read tho law referred to and
that not one in forty can intelligent-
lv discuss it's merits, without refer
Ing to it. If these assumptions are
in any measure true, how family are
we prepared TO use the most sacred
trust and privileges of our free In
stitntions If Editors have no time
TO discuss tn Q merits of this law, l.. I
them call upon our Senators and
and Assombymen for an explanation
oft /; they haVing been present and
witnessed it's birth, washing and
dressing, are no doubt able to des-
cribe tho texture and color OF Its
garments.
Ishall now close categorlcllly, by
way of suggestion, to wit. Where
in lies the demand or necessity fol
srch law {? What are the practica
f benefits supposed to be realized from
] IL in the future Z? Do we really stGnC
in need of additional financial guard
ans? Are such institutions patroneC
: after the St. Lonis reputed Savings
Institutions If so, will you please
ask the widows and orphans of that
city to state their utility ? Admit il
you please the necessity for such IN
stitutions and then allow me tc
e ask, d es this law sufficiently
r guard the interests of depositors
Does not this law recognize the right
of twenty men, without dollar a
the command of the whole posse, tt
set up banking, and become guardians
TO the funds of mechanics, laborers
i sc? Does it follow as natural law
of finance, that twenty poverty strlck
. en- men, can by organizing into
; Savings Bank and become instantly
solvent? Are twenty men either plu
or minus capital to be counted more
than prima facie evidence of financia
{ soundness. Is not the benevolenct
n protruded in this law, prlma tdcs
l. evidence of the intent of futur
fraud ? Why should every membe
of the association, except the Treas
urer, be expected to assume response
blity and render service, without
. fear, favor, or hope by reward, unles
!. for beneyolence sake ? Is bond TO
$4,000, ample security for the hand
. ling of 5000 or more ? And again
+ is it fact that man may individual
e ly be worth one million OF dollars
; and yet not one dollar Of it holden a
security for Saving Bank of whicl
he is a corporate member?
These questions are asked for in
: formation. More might be added, bu
= forbear with the assurance tina
d many will be interested in a digest o
= the law itself-especially your inquisi