The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1876-10-19
OUR WAsHINGT0N LRTTFR.
WAsHINeroN, Oct. 10, 1875.
INDIANA AND OHIO.

The elections in the Ave Staten which come
of to day, especially those in Indiana and
Ohio, naturally absorb public attention here.
AS the result will have been known all over
the civilized world before this letter reaches
yOu' II will be Of little use for me to attempt
to predict the result. Il may be we'll to say,
however. that, no matter how those two States
60, the Democracy need have no fear Of the
general result We have O sure thing vsiIhs
out the vote Of those two Western States.-
We shall start with the vote Of n solid South,
except that Of the State of South Carolina.
That will give us 1Sl votes; so that we shall
need only 64 more votes in all the Northern
Sta:su to elect Sam uel J. Tilden the next
President of the United States. New York,
Mr.. Tilden's own State, will certainly give
him her 36 votes; and many more than the
additional 10 votes will not fail to come from
! the Pacific States, and from those good old
Democratic States, Conn .cticut and New
Jersey. There will certainly be found in oil
the Northern States enough of the States
Rights spirit Of the old time Democratic party
20 make up the 54 votes nece ssary to elect the
Reform candidate and champion of the South.
RoBBING THE POOR
should n" longer be legalized in anv State Of
the Union. The failure of the Abingdon
Square Savings Bank, in New York, last week
furnishes another case Of the insecurity of
these depositories for the hard earnings of
the poorer classes. AS general thing, Saw
ings Banks are managed with less RESPONSE
bility than any other banks, for the reason
that the individual deposits are usually small,
and distributed among q large number OF
persons who have little if any, opportunity
of watching how their money is managed
and, as is generally the case, two or three men
have control; and, as failures invariably show,
these men use the funds without any res>
traint, and in speculate ons in which no pro.
perly managed bank would think of invest.
ing. Recent failures of Savings Banks are
traceable to wild investments in real estate;
and as this cass Of security hos deprecated
within the last four years more than any other
in some case as much as forty per cent, of
course no bank with its money loaned on such
collateraIs can stand anything like a run OF
its dcpositors. And, when it does take place
disasters follow. That there are exceptions
Of Savings Banks conducted on safe honest
principles must be admitted but the men
who manage them generally risk large sums
of their own money in them, and in this way
are careful in looking for the right kind of
investments. Savings Banks conducted upon
such principles never pay extravagant rates
of interest. High rates Of interest, whether
promised or exacted, lead to trouble md arc
IN argument, as old as industry, 10 prove
that money employcdin other than legitimate
production is attended by innumerable risks
and is bound, so2ner or later, to come to
grief. The remedy for these losses is not nj
together improving the management of these
repositories Under the very best system.
losses will happen and, when they do, with
small dcposiors the suffering is always of the
hardest character. There is, however, n
plan of safety by which no poor deposition
would ever run any risk; and the germ of il
is in our national debt. If about one third
of our bonded debt wns cut up into multi
Piles of twenty five dollars, and the time ex.
tended to fifty years, there would be more
than enough to absorb all the savings bank.
NSPOoA'OAo
more than one cent % day interest on q hum
dred dollars. Beeides The sofety O: such in
vestments, the Government would save the
difference in interest between what it now
pays and would then pay; and, best of ALL
the money so invested would never be used
sxcept for sate purposes, because each depo.
sitor would be his own custodian.
IMPORTANT DECISION BY A JUDGE OF THE o. 8.
SUPREME COURT.
Judge Clifford, of the United States Su-
preme Court made decision while presiding
in the United States Circuit Court for Maine,
n few days since, that is exciting q good deal
Of discussion in Washington, pro and con
among the members of the bar. Judge Cliff
ford is one of the survivors Of the old Supreme
Court. He was appointed to the Supreme
Bench by President Buchanan in 1868. and is
one of the oldest members of that tribunal
He is learned lawyer and q conscientious
and incorruptible jurist. The plaintiff in the
case was citizen of Louisiana, and the de.
fendent was General Neal Dow. of Maine
During the war. the regiment which he com
manded the Thirteenth MaineVolunteers,
made raid upon the plaintiffs surgar house
and appropriated the contents to the use Of
the army The owner made complaint to
General Dow, who told him that if he could
prove that he was loyal man, he (Dow) would
give him receipt for the sugar, and, in due
time, the United States Government would
OOV him The Drnof oF lOvalty Da1on ,,O . 49,.